Real Estate – Gold visa continues to attract investment in real estate

Real Estate - Gold visa continues to attract investment in real estate

According to accounts conducted by LUSA based on data from the Foreign and Borders Service (SEF), investment received through Gold Visa fell 26.6% in January to 33 million euros compared to the same period in 2020.

In January, investment as a result of the Investment Residence Authority (ARI) program was 33,124,623.90 euros, down 26.6% from a year earlier (45 million euros). Investment increased by 19%, compared to December (27 million euros).

In January, 55 gold visas were granted, of which 52 were purchased on real estate (nine for urban rehabilitation), and three on a capital transfer basis. The purchase of real estate raised an investment of EUR 32 million, of which 3.2 million was acquired for urban rehabilitation, while the capital transfer accounted for approximately EUR 1 million.

According to the country, China was awarded 27 gold medals, Brazil five, Russia four, the United States three and the Philippines three gold medals.

The ARI Concession Program was launched in October 2012, as of January this year – in cumulative terms – an investment of 5,672,107,919.65 euros. Of this amount, the highest is for the purchase of real estate, with 5,129,892,695.77 euros after an eight-year program, 280,216,234.77 euros for urban rehabilitation.

Investment increased to EUR 542,215 223.88 through capital transfer criteria.

Since the creation of the device, which aims to attract foreign investment, 9,444 ARIs have been allocated: two in 2012, 494 in 2013, 1,526 in 2014, 766 in 2015, 1,414 in 2016, 1,351 in 2017, 2018. 1,409, 1,245 in 2019, 1,182 in 2020 and 55 in 2021.

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As of last January, in a cumulative context, 8,881 visas were allocated through the purchase of real estate, of which 777 were for urban rehabilitation.

Due to the need for capital transfers, visas were allowed a total of 546 and 17 remained through job creation (no visa granted in this way remained registered for long).

On the basis of nationality, China leads the way in granting visas (4,791), followed by Brazil (994), Turkey (453), South Africa (394) and Russia (363).

Since the program’s inception, 16,130 residence permits have been granted for reunification of family members, 80 of which 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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