Gold Visa: Investment down 38% to 237.6 million by June

Gold Visa: Investment down 38% to 237.6 million by June

The investment raised in the first half of last year was 383 million euros.

In June, the Residence Permit for Investment (ARI) program resulted in a total investment of 36.4 million euros, down 59.5% from the same period in 2020 (89 million euros).

Investment grew 29.9% compared to May (27.7 million euros).

According to data from the Aliens and Borders Service (SEF), 67 ARIs were granted last month, of which 60 were through acquisition of immovable property (15 for urban resettlement), six through capital transfer and purchase through creation of work stations were given.

Real estate purchases in June totaled 34.3 million euros, of which 5.2 million euros were for urban rehabilitation, while capital transfers accounted for 2.1 million euros.

By countries, 20 ‘golden’ visas were granted to China, eight to Russia, seven to the United States, four to South Africa and three to Brazil.

In the first six months of the year, 445 ‘gold’ visas were granted, of which 55 were granted in January, 100 in February, 73 in March, 98 in April, 52 in May and 67 in June.

The ARI grant program launched in October 2012, registered as of last June – in accumulated terms – an investment of 5,876,633,851.08 euros. Of this amount, the majority corresponds to the purchase of real estate, which, after more than eight years of the program, totaled 5,317,394,161.44 euros, totaling 315,157,475 for urban rehabilitation. There is a purchase of 74 euros.

The investment from the transfer of capital is 559,239,689.64 Euro.

Since manufacturing this device, which aims to attract foreign investment, 9,834 ARIs have been provided: two in 2012, 494 in 2013, 1,526 in 2014, 766 in 2015, 1,414 in 2016, 1,351 in 2018 1,409, 1,245 in 2019, 1,182 in 2020 and 445 in 2021.

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9,230 visas had been granted through the purchase of real estate, of which 874 were for urban resettlement.

Due to the need for capital transfer, a total of 584 visas were granted and the ARI received for job creation increased to 20.

By nationality, China leads the way in visa allocation (4,943), followed by Brazil (1,024), Turkey (467), South Africa (407) and Russia (383).

Since the start of the program, 16,698 residence permits have been granted to reunite family members, of which 648 are this year.

About the author: Sarah Gracie

Sarahis a reporter covering Amazon. She previously covered tech and transportation, and she broke stories on Uber's finances, self-driving car program, and cultural crisis. Before that, she covered cybersecurity in finance. Sarah's work has appeared in The Wall Street Journal, Bloomberg, Politico, and the Houston Chronicle.

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