Golden visas create only 241 jobs in nine years

During the nine years of the golden visa investment programme, 241 jobs were created, based on the criterion of job creation, according to the Foreigners and Borders Service (SEF).

By TPN/Lusa, in Business · 31 Dec 2021, 10:05 · 4 Comments

The Residence Permit for Investment Activity (ARI) program started in October 2012 and one of the criteria for granting visas is the creation of jobs. Questioned by Lusa, SEF added that, "over its nine years of existence, 241 jobs were created".

Lisbon was the area where the most jobs were created, according to that criterion, in accumulated terms, reprsenting a total of 86.

By origin of investment, Ukraine was responsible for 11 jobs in the area of IT consulting and programming, Algeria for 10 in the area of trade, import/export, provision of services, and Iraq for another 10 in terms of designing and providing professional training courses in the Lisbon area.

Syrian investment in the area of support for education and other educational activities was responsible for 11 jobs in Lisbon, Brazil for 32.

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Comments

Many knew from the beginning what was the real purpose of this fraudulent, misleading and money laundering scheme! Now, it is evident to all!

By Tony Fernandes from Other on 31 Dec 2021, 15:34

Fake news, the data I have observed in the Algarve is that the economy is robust (ie, new jobs), despite lockdowns. I'd like to see your data.

By Hugo from Algarve on 01 Jan 2022, 02:31

The headline is misleading. The article is only highlighting the jobs created through direct investment route of Golden Visa which is anyway not popular with investors. The real estate investment is the most popular Golden Visa option, attracting the bulk of foreign investments. The Golden Visa scheme has definitely helped the real estate, construction and allied industries; posting positive growth even during the pandemic.

By Shreyas from UK on 02 Jan 2022, 05:07

If you are going yo ‘sell’ residency, at least make it more expensive. 1 million Euros is hardly a fortune these days!

By Ian from Lisbon on 05 Jan 2022, 06:41