Investment attracted to Portugal through golden visas – fast-track residence permit for investment purposes – rose 2.0% in the first quarter, with requests from U.S. and Chinese nationals leading, official figures show.
In the first quarter, investment raised through golden visas totalled EUR 124.7 million, 2.0% more than in the first three months of 2021, which was EUR 122.2 million, according to data from Portugal’s Immigration and Borders Service (SEF).
In March a total of 73 golden visas were granted, following 94 in February and the same number in January. Of the March total, 51 were issued on the basis of property purchases (32 of these involving urban rehabilitation) and 22 through the capital transfer criterion.
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In March, the inflow of funds through the Residence Permit for Investment (ARI) programme amounted to EUR 34.6 million, a decline of 5.7% compared to March 2021, and 17% less than in February.
Last month, 14 first-order permits were granted to applicants citizens of the US, 11 to China, five to South Africa, four to the UK and four to Brazil. In addition, 72 permits were granted to family members of first-order permit holders, for a total so far in 2022 of 277.
Since the ARI programme – whose aim is to attract foreign investment – was launched in October 2012, a total of EUR 6,22 billion has been raised. Of this amount, EUR 5,604,285,459.59 corresponds to property purchases, including EUR 402,1 million for cases involving urban rehabilitation. Investment resulting from capital transfer totals EUR 620,27 million so far.
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In total, 10,515 ARI first-order permits have been assigned: 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, 1,182 in 2020, 865 in 2021 and 261 in 2022.
In the nine years of the programme, 9,780 visas have been granted for property purchases, of which 1,122 involving rehabilitation. There have been 715 visas granted for capital transfers and 20 for job creation.
In terms of families, since the start of the programme 17,498 residence permits have been granted, 277 of which in 2022.
