Investment in Golden Visa up 40% in November

Investment in Portugal’s Golden Visa scheme stood at €65.6 million in November, an increase of 40% like-for-like on 2021. Nevertheless, in a classic case of ‘cutting off its nose to spite the face’, the Portuguese government is considering scrapping the scheme which has netted it €6.5Bn since 2012.

It was also up 48% to €65.6 million MoM according to Lusa and based on data provided by the Portuguese borders and immigration agency SEF.
In November the investment netted by the Authorisation of Residency for Investment (ARI) which completed 10 years in October, stood at €65.6 million, an increase of 40% on the €46.6 million registered in November 2021.
The investment grew 48% on the €44.3 million in November 2021. In the first 11 months of the year, the investment from Golden Visas totalled €575 million, an increase of 37% on the same period in 2021.
In November 121 Golden Visas were issued, of which 95 were from the acquisition of property (36 for urban rehabilitation) and 26 via capital transfer.
In accumulated terms, 1,130 Golden Visas have been issued to November (94 in January, 94 in February, 73 in March, 112 in May, 155 in June, 80 in July, 77 in August, 120 in September, 83 in October, and 121 in November.
The investment in purchasing property totalled €56.6 million in November of which €12.3 million referred to urban rehabilitation. Capital transfers reached €11 million.
By country, 18 Golden Visas went to US citizens, 14 to UK citizens, 13 to Chinese citizens, 10 to Brazilians, and 10 to South African citizens
Since the ARI scheme was launched in October 2012 the scheme has netted the Portuguese State €6.675Bn. The Portuguese Government is thinking of scrapping the Golden Visa.