Number of Investments Through Portugal’s Golden Visas Decreased in October
Such figures have been provided by the recent report of Lusa, based on the figures provided by the Foreigners and Border Service (SEF), AtoZSerwisPlus.pt reports.
According to the report, last month there were granted a total of 83 visas, of them 71 were based on the criterion for purchasing real estate while a total of 12 were through capital transfers.
The same shows that in total there were granted 1,009 Golden Visas in October since the begging of this year, or more specifically a total of 94 in January, 94 in February, and 73 in March, marking an increase in April, during which month 121 Golden visas were granted. In May this year, there were granted a total of 112 Golden Visas, 155 in June 80 in July, 77 in August and 120 in September.
Based on the Portugal News report, investment in the purchase of real estate reached 39.5 million euros in October.
During the same month, 15 visas through the Residency by Investment scheme were granted to citizens of China, 12 to those from the United States, 11 to citizens from Brazil, nine to South Africans and five to Indians.
Portugal’s Golden Visa program is among Europe’s most famous programs since it started to operate back in 2012.
The data provided by SEF revealed that as of 11,189 Golden Visas were granted to non-EU citizens within a ten years period, bringing to the country a total of €5.87 billion in real estate investment. Throughout the 11,189 visas issued, 18,368 family members also benefited from this scheme.
The majority of them were citizens of China, followed by those from Brazil, Turkey, South Africa, and North America.
Through Portugal’s Golden Visa scheme, known also as the Residency by Investment scheme, wealthy internationals have the opportunity to acquire residency in Portugal, provided they make a total of €500,000 financial investment and meet specific requirements.
However, the scheme has often been criticized for being involved in many unlawful affairs such as corruption and money laundering.
Recently it was reported that the country’s Prime Minister, Antonio Costa, stressed that it is considering putting an end to this program after according to him, it has fulfilled all the functions it had to fulfil and there is no reason to maintain this program anymore.
