“Golden visa”: investment dropped 10.1% until August

“Golden visa”: investment dropped 10.1% until August

The numbers from Serviço de Estrangeiros e Fronteiras (Foreigners and Borders Service), to which DV had access, show that during this period 915 residence permits were issued for investment, of which 849 concerned the acquisition of real estate assets, representing a 449.3 million euro investment (8.1% less than last year).

During August alone, the program attracted 57.3 million euro, 26% less y-o-y. The acquisition of real estate concerns 97 visas and a 50.1 million euro investment (34% less than last year).

Since the beginning of this program, in October 2019, and until the end of August, 9.122 ARIs (Residence Permit for Investment Purposes) were issued, representing a total investment of 5.494 million euro, of which 4.958 million euro concern the acquisition of real estate.

The real estate sector has defended the relaunch of this mechanism to boost the attraction of investment during the pandemic. APPII defends that this program is vital for that to take place and demands that the legal changes announced at the end of last year, which included the program being implemented exclusively in the country’s interior, do not go ahead. Especially at a time when the competition from other countries in terms of attracting investment, necessary for the country’s recovery, increases.

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