Portugal: Golden Visa Investments Soar by 27.5% in First Half of the Year
The same source shows that in the first half of this year, a total of 861 golden visas were granted, of them 475 in the second quarter or, more specifically:
- 115 in April
- 180 in May
- 179 in June
According to SEF statistics, regarding visas for grouped family members, a total of 1,191 were granted in the first half of this year, of them 167 in April, 208 in May and 192 in June. At the same time, in January, 153 visas were granted, in February 209 and in March, 262 visas for grouped family members were issued, AtoZSerwisPlus.pt reports.
The number of total investments already surpassed €7,000 million, totalling last month €7,157,485,864.42 in accumulated terms since the program was introduced in October 2012.
During the same period, a total of 12,396 golden visas were allocated. The primary beneficiaries of these visas were nationals of the following countries:
- China – 5,366
- Brazil -1,229
- United States -713
- Turkey -592
- South Africa- 550
According to the SEF report, 11,181 golden visas have been granted through the acquisition of real estate for over €6,337 million. Of the total, €636.5 million related to purchases for urban rehabilitation, out of a total of 1,783 golden visas issued.
As for the capital transfer, the accumulated amount reaches €819.6 million, out of a total of 1,193 ARIs awarded, and in more than ten years of the working program, just 22 golden visas were granted through the creation of work.
On July 6th, the government of Portugal proposed to abolish new residence permits for housing investment, which was approved on the same day.
The proposal was supported in the Assembly of the Portuguese Republic, with votes in favour of the Socialist Party ((Partido Socialista), Bloque de Izquierda- a left-wing political party- and the Portuguese Communist Party.
The halting of new residence permits for investment in housing was included in the More Housing Program introduced previously by Portugal’s Government.
However, such a proposal made by the Prime Minister of Portugal, Antonio Costa, was not supported by authorities in Maderia.
Besides, the President of the Autonomous Region of Madeira, Miguel Albuquerque, considered the new measures “counterproductive”.
According to Albuquerque, the proposal makes Local accommodation a meaningless scapegoat for housing problems, adding that it also defrauds investors’ confidence.
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