A total of 94 per cent increase has been noted in Portugal’s Golden Visa program during last month, compared to the figures of May 2021, to 53.8 million euros.
Such conclusions have been reached through the recent data provided by the Portuguese Foreigners and Border Service (SEF), SchengenVisaInfo.com reports.
The same noted that in May, there had been granted a total of 112 golden visas, of which 93 per cent were for the acquisition of real estate.
The number of golden visas granted in the first four months of this year is:
- January – 94
- February – 94
- March – 73
- April -121
The SEF report shows that compared to April data, investment raised through the Residence Authorization for Investment (ARI) decreased by 9.8 per cent. At the same time, the investments raised through ARI in the five months of this year totaled over 238 million euros.
Investment in the purchase of real estate accounted for 44.9 million euros in April, of which a total of 16.8 million were in urban rehabilitation, while in the capital transfer, the value was as of 8.8 million euros.
In total, 17 golden visas were given to citizens from China, 16 to those from the United States, 10 to Brazil, 8 to Lebanon, and 7 to citizens from India.
The Golden Visa program permits citizens from third countries to hold the golden visa, provided they make a specific amount of money investment and meet specific requirements.
Recently it was reported that there was marked a notable increase in the number of British citizens seeking residency in Portugal and Spain through such a program, as it was written by home builder Taylor Wimpey Espana.
Besides, the global Citizenship by Investment (CBI) sector expects to reach a total of $100 billion during the next three years, while people’s interest in applying for second citizenship in CBI famous territories such as Portugal is marking a notable increase.
In this regard, the AAA Associates Immigration Services said that many reasons push people to apply for such programs, stressing that the largest number of these schemes are strong and offer great convenience for traveling.
Among the main reasons American citizens are choosing these programs is the spread of the Coronavirus, climate change as well as the uncertainties caused due to the current political situation.
A large number of citizens from America are considering European Citizenship by Investment Programs as salvation to escape from the concerns caused by the factors mentioned above.