Gold visas: investment rises again with China leading the way

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Acquisition of real estate continues to account for the majority of Investment Residence Permits.

Investment captured through gold visas rose 6% in August, year-on-year, and fell 14.5% in a row, to 37.5 million euros, according to accounts made by Lusa based on data from the Foreigners and Borders Service (SEF).

In August, the investment captured with the golden visas reached 37.5 million euros, which corresponds to a rise of 6% compared to the same month of 2021 (35.3 million euros), but fell 14.5% compared to July.

Between January and August, the investment raised through the Residence Permit for Investment (ARI) program totaled 397.7 million euros, 34.7% more than in the same period last year, when it totaled 295.1 million euros.

In July, the investment captured by gold visas amounted to 43.9 million euros, a year-on-year increase of 98.6% and a decrease of 43.6% compared to the 77.9 million euros registered in June. 80 ARI were granted, one of which was based on the job creation criterion.

Urban rehabilitation responsible for half of the ARI in the real estate sector

In August, 77 ARI were granted, of which 64 were for the acquisition of real estate (31 for urban rehabilitation) and 13 for capital transfers.

In the first eight months of this year, 806 gold visas were granted (94 in January, 94 in February, 73 in March, 121 in April, 112 in May, 155 in June, 80 in July and 77 in August).

Last month, investment in the purchase of real estate amounted to 32.9 million euros, of which 10.7 million euros in urban rehabilitation, while the value in capital transfers was 4.5 million euros.

China once again leads the issue of golden visas in Portugal

In August they were awarded:

  • 19 golden visas to China,
  • 10 to Brazil,
  • another 10 to the United States,
  • five to Pakistan
  • four to Morocco.

In this period 125 residence permits were granted to reunited family members, while in July there were 112, which for the year totals 972.

In July they had been granted:

  • 11 gold visas to the United States,
  • 10 to China,
  • nine to Brazil
  • seven to South Africa
  • five to Turkey.

Purchase of real estate leads investment since the creation of the gold visa program in Portugal

Since the ARI concession program was launched in October 2012, €6,497,529,571.45 has been raised through this instrument. Of this amount, most corresponds to the purchase of real estate, which totaled €5,830,483,944.06 in August, with acquisition for urban rehabilitation totaling €478,605,620.84.

The investment resulting from the capital transfer is 667,045,627.39 euros.

Since the creation of this instrument, which aims to attract foreign investment, 11,060 ARI have been assigned: two in 2012, 494 in 2013, 1,526 in 2014, 766 in 2015, 1,414 in 2016, 1,351 in 2017, 1,409 in 2018, 1,245 in 2019, 1,182 in 2020, 865 in 2021 and 806 in 2022.

In almost 10 years of the program (October 2012) they have been awarded:

  • 10,222 visas through the purchase of real estate, of which 1,338 were for urban rehabilitation.
  • There were 816 visas granted for capital transfers and 22 for job creation.
  • Since the beginning of the program, 18,193 residence permits have been granted to regrouped families, 972 of which in 2022.
  • On June 17, the parliament rejected the proposals from PCP, BE and PAN to end the gold visas, as well as Chega’s proposal to extend the regime, with the PS arguing that it is time to evaluate the latest change.

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