Golden visa investment falls 23%

in News · 12-07-2019 01:00:00 · 1 Comments
Golden visa investment falls 23%

Investment in so-called “golden” visas, the process whereby non-EU citizens can “buy” residence visas in Portugal, fell 23 percent in the first half of the year.

While the programme appears to be attracting fewer investors, figures for the month of June (total €73 million) represent an increase of 38 percent compared to the same period last year.

Of this €73 million, almost €64 million came from property purchases (representing 108 visas granted) and €9 million came from capital transfers (nine visas granted). One visa was granted in June for setting up a business to create a minimum of 10 jobs.

Of the 108 visas granted for property purchases, 16 were granted in the context of urban rehabilitation.

In the six and a half years since the scheme was launched, golden visas have brought in a total of €4.6 billion.

Of this figure, €4.1 billion was from property purchases and €442 million from capital transfers.

A total of 7,583 “golden” visas have been granted - 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 and 621 so far in 2019.

Up to the month of June, a total of 7,150 golden visas have been granted for property purchases, of which 334 were for urban rehabilitation.
When it comes to who is taking up the programme, 4,291 golden visas have been granted to Chinese citizens, 764 to Brazilians, 347 to Turkish, 299 to South Africans and 263 to Russians.


How's the backlog?

I have been waiting for my visa for over 1 year now. Can't stay in Portugal, I have no insurance when I travel (I need to be resident somewhere!), my Driver license is still from my old country...

This drives me nuts! If I knew the SEF would take over 1 year to deliver, I would have gone elsewhere for sure.

This stat is not available anywhere on the web. All the Law Firm tell you 3-6 months but in reality you end up waiting for much longer, which is completely unacceptable!

by Marry from Algarve on 27-08-2019 02:36:00
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