Investment falls 56.5% in July 2018 to 26 million and results from real estate purchase.
The investment attracted by gold visas fell by 50.5% in July, compared to June, and by 56% year on year, to 26.1 million euros, with residence permits only being granted through the purchase of real estate. According to statistics from the Foreigners and Borders Service (SEF), in July the investment resulting from the Residence Permit for the Investment Activity (ARI), as well as gold visas, reached 26,116,230 euros, a fall of 50.5% compared to June, and a decrease of 56.3% compared to July 2017.
In July, according to the data, the investment came only from the purchase of real estate.
47 visas were granted, of which seven were for urban rehabilitation.
Since the granting of the first visa for urban rehabilitation – in July 2016 – 171 ‘golden’ visas were granted through this requirement.
In the first seven months of the year, the investment raised through this instrument amounted to 510,145,428.98 euros, which represents a 22.2% decrease compared to the same period of 2017.
In cumulative terms – since the ‘gold’ visas began to be allocated on 08 October 2012 until last July, the total investment raised amounts to 3,921,411,271.37 euros, of which 366,144,760.19 euros of the transfer of capital and 3,555,266,511.18 euros for the acquisition of real estate.
Since the creation of this instrument, which attracts investment, 6,416 ARI have been allocated: two in 2012, 494 in 2013, 1,526 in 2014, 766 in 2015, 1,414 in 2016, 1,351 in 2017 and 863 in 2018.
In cumulative terms, 6,064 visas were granted for the acquisition of immovable property, 341 for capital transfers, and 11 for the creation of at least 10 jobs.
China leads the list of assigned ARI (3,912 until July), followed by Brazil (568), South Africa (257), Turkey (228) and Russia (222).
The new rules for obtaining ‘gold’ visas, which extended the investment criteria for citizens outside the European Union to areas such as urban regeneration and science, among others, entered into force on 3 September 2015.
Since 2013, 10,867 residence permits have been allocated to regrouped families: 576 in 2013, 2,395 in 2014, 1,322 in 2015, 2,344 in 2016, 2,678 in 2017 and 1,552 in 2018.