In March, Portugal’s Residence Permit via Authorisation for Residency through Investment
(ARI) program saw a 126.5% year-on-year increase in the amount raised to EUR 78.4m (USD 92.1m), while the number of golden visas granted rose to 163. Of these, 119 were granted for the acquisition of real estate and 44 for capital transfer, while no ARIs were given via job creation.
Cumulatively, more than EUR 6.9bn has been invested in the ARI program since it was created in October 2012 with a total of 11,921 visas, while 10,874 golden visas have been granted through the acquisition of real estate, totalling over EUR 6.1bn.
Based on the data provided by the Foreigners and Borders Service (SEF), the United States dominates the golden visa market in terms of monthly this March and dethroned China in the list of top countries with the highest number of Golden Visas issuance. The program has seen a significant increase of 42 per cent in investment and issuance of visas in the first quarter of 2023 compared to the same period in the last year, with a total of 386 golden visas issued and €177.2 million invested.
Real estate acquisition remains the most popular method for acquiring a golden visa, with urban rehabilitation also on the rise.
Capital transfer and work creation methods remain less popular but have still resulted in a significant number of golden visas being awarded.
The Portuguese government had previously announced that any applications made for the Golden Visa scheme after February 16 would be halted.
However, the Mais Habitacao program has since been updated to clarify that applications after that date, as well as new ones, can still be submitted until the end of the month.
Along with Portugal, Ireland terminated their own Golden Visa program earlier this year, and Spain is considering doing the same.
Our professional teams at MICS Global are ready to assist you through the investment options that are available for you and facilitate the process of getting your residence permit in a fast and secure process.
Please visit our website to get more information and book a consultant with us https://mics.global/portugal/.
