Last month, the amount raised through the Residence Permit for Investment (ARI) program, which completed 10 years last October, rose 31% compared to February 2022 and increased 27% compared to January (43.4 million euros), totaling more than 55.2 million euros.
In February, 130 'gold' visas were issued, of which 87 were for the acquisition of real estate (50 for urban rehabilitation) and 43 for capital transfers. Once again, there were no ARI granted through the creation of jobs.
The amount raised through the purchase of properties totaled 39.3 million euros, of which 17.1 million euros relate to acquisitions for urban rehabilitation, according to data from the Foreigners and Borders Service (SEF).
The capital transfer criterion amounted to 15.9 million euros in February.
In February, China returned to first place -- after being 'beaten' by the United States in January -- in the list of nationalities with the highest number of 'gold' visas granted.
Last month China obtained 23 ARIs, followed by the United States, with 21, Turkey (14), India (12) and Brazil (nine).
In total, the investment raised through the 'golden' visas in January and February of this year amounted to 98.7 million euros, 9.5% more than in the same period of 2022 (90.1 million).
In accumulated terms -- since the program was created, in October 2012, until February, the investment totals more than 6,852 million euros.
I though the corrupt Golden Visa system was being wound up? The reason that it doesn't create jobs, inflates property values, potentially 'washes' dirty money and is 'soft' i.e. can be withdrawn easily. Good riddance I say!
By Russell Taylor from Other on 20 Mar 2023, 11:33
Programs like this offers a legal way for hard working immigrants to secure a better future for their families. There are more advantages to keep the program running. It's not like 80 person annually will destroy the Economy or housing sector! for us, it is hope for a better future for our kids. Every law has it's ups and downs. Continues improvements will surely make things better and fill the gaps. Cancelling the program is not the solution at all!
By Moe Afif from Other on 26 Mar 2023, 10:09