Golden Visa: Investment rises 2.9% in the 1st half to 383 million euros

Tue 21 Jul 2020

The purchase of real estate continues to dominate the investment value, with China leading the number of concessions, followed by Brazil.

The investment raised through Golden Visa increased 2.9% in the first half of this year, compared to the same period of 2019, according to accounts made by Lusa based on the statistics of the Foreigners and Borders Service (SEF). In the first six months of the year, the total investment resulting from the granting of Residence Authorization for Investment (ARI) amounted to EUR 383,003,719.56 and 700 Golden Visa were allocated.

In June, the investment raised rose 21.9% year-on-year to 89,100,660.55 euros. Compared to May (146,168,473.40 euros), investment fell 39%. Last month, 171 Golden Visas were granted, of which 162 through the acquisition of real estate (61 were for urban rehabilitation) and nine through the capital transfer criterion.

The purchase of real estate in June amounted to 83.2 million euros (urban rehabilitation amounted to 22.2 million euros) and the capital transfer 5.8 million euros.

Of the total Golden Visa concessions in June, 45 came from China, 22 from Brazil, 13 from South Africa, nine from Turkey and another nine from Vietnam.

Balance sheet of the programme
In more than seven years -the ARI program was launched in October 2012-, the cumulative investment up to last June amounted to 5,375,257,550.51 euros, with the acquisition of real estate amounting to 4,858,374,412.75 euros.

Of the total investment in real estate purchases, 235,340,240.34 euros correspond to the acquisition requirement for urban rehabilitation.

The visas granted by capital transfer totalled 516,883,137.76 euros.

Since the creation of this instrument, which aims to attract foreign investment, 8,907 ARI have been granted: 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 and 700 in 2020.

Up to June, in cumulative terms, 8,389 Golden Visa were granted through the purchase of real estate, 653 of which for urban rehabilitation.

By requirement of capital transfer, the visas granted total 501 and were granted 17 through the creation of at least 10 jobs.

By nationalities, China leads the allocation of visas (4,631), followed by Brazil (947), Turkey (427), South Africa (364) and Russia (337).

Read the full article here

 

Photo by Hugo Maciel on Unsplash

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