golden visa

State rakes in €403 million on Golden Visas between January – June

Investment rose 27.5% during first half of 2023

Investment obtained by the Portuguese government through the ‘golden’ foreigners’ residence permit programme rose 27.5% in the first half of the year to €403 million, according to calculations made by Lusa based on statistical data from the country’s immigration and borders service, SEF.

In the first six months of 2022, the investment attraction programme amounted to €316 million.

In the first half of this year, 861 residence permits for investment (ARI) were granted, of which 475 in the second quarter (116 in April, 180 in May and 179 in June).

As for visas for family groupings, 1,191 were granted in the first half of the year (of which 167 in April, 208 in May and 192 in June). In January 153 visas were granted, in February 209 and in March 262 visas for family groupings.

The total investment already exceeds €7 billion, totalling last month €7,157,485,864.42 in cumulative terms since the programme was launched in October 2012.

During this period 12,396 ARIs have been granted, of which 5,366 to people from China, 1,229 to Brazil, 713 to the United States, 592 to Turkey and 550 to South Africa.

Since the start of the programme 11,181 ‘golden’ visas have been granted through the acquisition of real estate, totalling over €6.337 billion. Of this amount, €636.5 million relate to purchases for urban rehabilitation, in a total of 1,783 ‘golden’ visas granted.

In terms of capital transfers, the accumulated amount is €819.6 million, in a total of 1,193 ARI’s granted, whereas in more than 10 years of the programme only 22 ‘golden’ visas were granted through job creation.

In cumulative terms, 20,000 ‘golden’ visas were granted to family reunification.

On July 6, the government’s proposal to end new residence permits for housing investment was approved.

The repeal was one of the proposals contained in the ‘Mais Habitação’ (More Housing) programme and, with entry into force of the new law, new requests for the concession of ARI will not be admitted, which will not affect the possibility of renewing authorisations already granted.

Requests for concession and renewal of residence permits for investment activity remain valid, including those that are “pending prior control procedures in the local councils” at the date of entry into force of the new law.

The granting or renewal of residence permits for family reunification is also excluded from the adopted limitation.