Portugal Granted 64 New Golden Visas in August

September 24, 2023
Portugal A total of 64 golden visas were issued by Portuguese authorities last month, including 42 for real estate purchases. The residency by investment program brought Portugal more than 32.8 million euros last month. However, this figure is still 12.5% ​​lower than the figure recorded in the same month last year. The Golden Visa program dedicated to wealthy foreign investors brought in more than 493 million euros between January and August this year, 24% more than recorded in the same period last year. . Among the main beneficiaries of the Golden Visa are citizens of the United States, followed by China and Brazil. In addition, six golden visas were issued to Russian citizens and six visas to Turkish citizens. For a period from October 2012 until August 2023, a total of 12,561 residence permits were granted. The main beneficiaries were the citizens from the following countries:
  • China 5,383,
  • Brazil (1,246)
  • USA (741)
  • Turkey (603)
  • South Africa (561)
Total investment amounted to more than 7,247 million euros, including 6,401 million euros for real estate acquisition (11,284) and a total of 653 million euros for urban renovation (1,830) for the golden visa. According to a report from Portuguese News, pre-transfer capital reached 846 million euros, 1,255 were granted and job creation allowed the issuance of 22 ARIs. To date, visas have been issued to a total of 20,241 reunited family members. Portuguese authorities are trying to make new changes to the Golden Visa program. In July, the Portuguese government approved new amendments to the program, as part of the supplementary housing program, including, among other things, the termination of new residence permits for investment in housing and the possibility of turning negative 1.5 million euros in a Portuguese bank. account. However, those changes require the approval of Portugal's President, Marcelo Rebelo de Sousa, who has 20 days to decide the matter. However, the bill was rejected by the President; it must therefore undergo amendments in Parliament before it can be passed, which will take at least another month. In a letter sent to Congress along with the bill, the President requested that more amendments be made before the bill comes back for his final approval. The President said it was unclear how the promised results would be achieved, and believed it was a poor initial response to a need that has now become acute, important and extremely urgent. cypress.

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