The changes to the rules for granting Residence Permits for Investment (ARI), also known as golden visas, which came into effect earlier this year, may not have triggered a rush by the market, but they still brought some dynamism.

According to a report by Dinheiro Vivo, during the first month of 2022, 94 golden visas were granted, the result of a global investment of €48 million, according to data from the Foreigners and Borders Service (SEF). The value is more than 45% when compared to the same month of 2021, marked by a critical period of the health crisis, and 6% compared to the same month of 2020.

Through the acquisition of real estate, 75 golden visas were granted in January, which resulted in an investment of €38.7 million, higher than that generated in the same period in 2021 (€32 million) and last December (€35.6 million), but slightly lower than the €39.5 million in the first month of 2020.

Lisbon was by far the city that attracted most interest. 41 ARIs were granted through the acquisition of properties to live in or rehabilitate in the capital. In Porto, there are ten authorisations and five in Évora, the remaining ARI being divided across various territories of the country.

Biggest investment

The biggest investment in the purchase of a house was made by a Brazilian citizen, who spent €3 million on a house in Cascais. Right after that, a North American stands out, who spent €1.9 million on the acquisition of a property in Lisbon. The third most expensive property was purchased by a Russian who spent €1 million on a house in Albufeira in the Algarve.

In the first month of the year, 19 ARIs were also awarded for capital transfers and for investments in funds and/or commercial companies, with a global value of €19 million.

According to SEF statistics, China leads the ranking of golden visas granted in January (19 golden visas and an investment of more than €9.4 million), followed by the USA (17 ARI and €8.9 million), India (eight and €3.9 million), Russia (seven and €4 million) and, closing the top five, Brazil (six visas and applications of €5.6 million).