Investment through the Golden Visa program more than doubled in March, year-on-year, to €78.4 million, and rose 42 percent in the quarter.

In March, the amount raised through the Residence Permit for Investment (ARI) program, grew 126.5 percent compared to the same month of 2022 (€34.6 million), to €78.4 million. Compared to February, when it raised €55.2 million, the increase was 42 percent.

Last month, 163 golden visas were granted according to Lusa, of which 119 were for the acquisition of real estate (70 for urban rehabilitation) and 44 for capital transfer. Again there were no ARIs granted via job creation.

The amount raised through the purchase of properties totalled €57.2 million, of which €23.7 million related to acquisitions for urban rehabilitation, according to data from the Foreigners and Borders Service (SEF).

USA dominance

In March, the United States ‘dethroned’ China in the list of countries with the highest number of golden visas obtained in the month under review. The United States obtained 28 golden visas, China 23, the United Kingdom 16, followed by Brazil (11) and the same number as South Africa (11).

In March, 262 visas were granted to grouped family members, compared to 209 in February and 153 in January, totalling 624 in the first quarter. Investment in ARI amounted to €177.2 million in the quarter, 42 percent more than in the same period of 2022 (124.7 million euros). In total for the first quarter of this year, 386 golden visas were issued, of which there were 130 in February and 93 in January.

A decade of attracting investment

In cumulative terms — since the program was created, in October 2012, until February, the investment totals more than €6,931 million e. In this period, 11,921 ARIs were allocated, of which 5,304 to China, 1,198 to Brazil, 607 to the United States, 568 to Turkey and 525 to South Africa.

Since the start of the program, 10,874 golden visas have been granted through the acquisition of real estate, for a total of more than €6,175 million. Of this amount, €586.2 million concern the purchase for urban rehabilitation.

In terms of capital transfer, the accumulated amount amounts to €755.9 million out of a total of 1,025 ARIs awarded, and in more than 10 years of the program, 22 golden visas were granted through the creation of work.

Source: ThePortugalNews