Portugal issued 11,628 `gold’ visas in 10 years, mostly for home purchase

Date:

Share post:

Portugal has granted 11,628 `gold’ visas in 10 years, which totaled an investment of about 6.7 billion euros, mostly for buying houses, according to the Foreigners and Borders Service (SEF).

In the Council of Ministers exclusively dedicated to housing, the Government decided to end the Residence Permits for Investment, known as `gold’ visas, as one of the measures to combat real estate speculation.

Data from SEF sent to Lusa show that between October 2012 and January 2023, Portugal granted 11,628 `gold’ visas, most of them to citizens from China (5,258), Brazil (1,178), the United States (558), Turkey (547) and South Africa (508).

According to SEF, under the `gold’ visas, 18,962 residence visas were granted for family reunification, given to family members of a residence permit holder so that they can live legally in Portugal.

The SEF states that in 10 years, around six billion Euros were invested in the acquisition of real estate, which allowed 10,668 foreigners to acquire an Investment Residence Permit by buying a house.

Between October 2012 and January this year, 938 foreigners got a golden visa in Portugal through money transfers and 22 with job creation.

The Prime Minister, António Costa, stated that the `gold’ visas already granted can be renewed if the owner and his descendants have their own permanent residence, or if the property is placed on the rental market.

The `gold’ visas were created in 2012 during the government led by Pedro Passos Coelho with the aim of attracting foreign resources and investors to the country.

Related articles

Chico Buarque’s new novel to be published in Portugal in September

Chico Buarque's new novel, "Bambino a Roma", which mixes fiction with memories of the time when the writer...

273 speed camera infringements detected in one month on Vasco da Gama Bridge

More than 1.8 million vehicles were checked by radar in one month on the Vasco da Gama Bridge,...

Lisbon-Porto high-speed line receives European Union funding

The high-speed rail link between Lisbon and Porto was today one of 134 projects selected by the European...

João Nicolau’s new film marks Salvador Sobral’s film debut

The shooting of the new film by director João Nicolau began last week in Castanheira de Pêra, with...