Rasheed Alkhanji QICMS
Published 02:12 PM 9 December 2021
Updated 12:27 PM 21 December 2021
PORTUGAL RAISES EUR 6 BILLION EUROS FROM GOLDEN VISAS
Portugal saw good demand for its Golden Visa Residence Program. Nine (9) years after the inauguration of the Portugal Golden Visa program, investments go on to boost the Portuguese economy.
The Residence Permit for Investment (ARI) program, more commonly known as Portugal Golden Visa, celebrated nine (9) years of existence on October 8th 2021, and the month in which it surpassed a total of EUR 6 billion in investments raised.
As reported by the Portuguese Foreigners and Borders Service (SEF), the ARI program, witnessed an overall of EUR 6,010,994. In October 2021, the investment raised EUR 46.4 million, an increase of 72 percent compared to September and 62 percent year-on-year.
Of the more than EUR 6 billion raised in nine (9) years, most continues to correspond to the acquisition of real estate, which in October totaled EUR 5,434,644,035, with purchases for urban rehabilitation amounting to EUR 341,919,339.
Since the launching of Portugal Golden Visa Residence Program that enables third country nationals to obtain a temporary residence permit to conduct business activities with visa waiver to enter national territory , 10,087 Golden Visas have been awarded, with 9,450 visas through the purchase of real estate, 950 of which with a view to urban rehabilitation.
By citizenship, China leads the allocation of visas (5,001), followed by Brazil (1,038), Turkey (476), South Africa (422) and Russia (409).
Since the beginning of the program, 17,014 residence permits have been granted to reunited family members, of which there were 964 in 2021.
INVESTMENT SOARS IN OCTOBER 2021
In October 2021, investment raised through the program increased 62 percent year-on-year, to EUR 46.4 million, having grown 72 percent compared to September, according to a report by SEF.
According to SEF statistical data, 87 ARI were granted in October 2021, 75 of which were related to the acquisition of real estate (28 for urban rehabilitation) and 11 through the capital transfer criterion.
The purchase of real estate last month totaled an investment of EUR 39.6 million, of which EUR 9.5 million were for urban rehabilitation, while the transfer of capital totaled EUR 6.5 million.
By countries, in October 2021, fifteen (15) golden visas were granted to China, fourteen (14) to the USA, eight (8) to India and Russia and four (4) to South Africa.
For more information on Portugal’s Golden Residence Permit Program, please click here.
To view our Citizenship and Residency Programs by Investment in Real Estate comparison table, please click here.
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