Tag Archives: golden visa

Golden Visa investments fall again

09 Thursday Jan 2020

Posted by in Posts

≈ Comments Off on Golden Visa investments fall again

Tags

, , , , , , , ,

In November of 2019, total investments from Residence Permits for Investment Activities (ARI) tallied €37 million, a decrease of 52% over the same month of 2018 (€77.1 million). Comparing to October, when new investments totalled €60 million, the decline was 38%. In November, 64 Golden Visas were issued, of which 61 were for property purchases and three for capital transfer. In the first 11 months of 2019, investments have totalled €698 million, down 6% from the same period a year earlier. By nationality, China continued to lead in the number of Golden Visas issued, followed by Brazil, Turkey, South Africa and Russia.

Golden Visas: Portugal has Europe’s second most attractive regime

16 Monday Dec 2019

Posted by in Posts

≈ Comments Off on Golden Visas: Portugal has Europe’s second most attractive regime

Tags

, , , , ,

Only Greece and Latvia have more advantageous Golden Visa schemes than Portugal, requiring an investment of just €250,000 for foreigners wishing to settle in their territories. Portugal has maintained the €500,000 threshold since the creation of the programme in 2012, which is technically referred to as “The Residence Permit for Investment Activity”.

Portugal collects €167 million from Golden Visa fees

02 Thursday May 2019

Posted by in Posts

≈ Comments Off on Portugal collects €167 million from Golden Visa fees

Tags

, , , , ,

Over the past seven years, the state has brought in more than 167 million Euros with the issuance and renewal of Golden Visas. The fees charged by “SEF” (“Serviço de Estrangeiros e Fronteiras”) are the result of more than 19,000 visas issued and over 17,000 renewals, a retention rate of almost 90% of investors and households.

European Financial Police

13 Wednesday Mar 2019

Posted by in Posts

≈ Comments Off on European Financial Police

Tags

, , , , , , ,

A special committee of the European Parliament urges the creation of a European Police Force and a European Regulator dedicated to money laundering. The proposals of the Special Committee on Financial Crimes and Tax Evasion (TAX3) form part of a report with various recommendations, including the abolition of “Golden Visas”.

Only 2% of Golden Visa applications rejected in over 6 years

09 Saturday Mar 2019

Posted by in Posts

≈ Comments Off on Only 2% of Golden Visa applications rejected in over 6 years

Tags

, , , , , ,

Since inception, more than 19,000 new “golden” residents have been approved for Golden Visas in Portugal. Only 387 (2 out of every 100 applications) were turned down despite warnings from the UN and the European Commission. Allegations abound that these Portuguese entry visas facilitate money laundering and tax evasion as well as jeopardize the security of the EU. The European Parliament will vote on a proposal to abolish such schemes throughout the member states.

Golden Visas: Lisbon defiant

09 Saturday Mar 2019

Posted by in Posts

≈ Comments Off on Golden Visas: Lisbon defiant

Tags

, , , , , ,

While the European Commission (EC) defends the end of “Golden Visas”, Portugal contends that the programme will go on. In recent years, the scheme has served as a gateway for millions of euros into the national real estate market in exchange for permanent residency visas for high net worth foreign investors. In light of the controversy, the government has announced plans to alter legislation to improve transparency as called for by the European Parliament.

The “Dark Side” of Golden Visas

24 Wednesday Oct 2018

Posted by in Posts

≈ Leave a comment

Tags

, , , , ,

The Global Anti-Corruption Consortium recently presented a report revealing important data on the obscure world of Golden Visas. Four EU countries sell citizenship, twelve offer permanent residency permits. Golden Visas have lead to over 25 billion euros invested in the European Union over the last decade.

Critics say that the European Union should simply ban the practice. The sale of Golden Visas poses a serious security risk for the European Union in general and the Schengen system in particular. “It is a prostitution of the Schengen system, giving a fast track to rich migrants who are often kleptocrats, criminals and money launderers.”

Through Golden Visas, more than 100 thousand people have already obtained authorisation for permanent residency or citizenship in throughout member states. Portugal is one of the EU countries that has benefited most from selling Golden Visas, averaging €670,000,000 each year since inception.

Golden Visas: Most foreign investment falls while Turkish more than doubles

24 Wednesday Oct 2018

Posted by in Posts

≈ Leave a comment

Tags

, , ,

Chinese investment in Golden Visas fell by 24% between January and August year-on-year to €194.3 million. During the same period, Turkish investments more than doubled to €69.4 million. Brazilians accounted for €86.7 million, 41.8% less than a year earlier. South Africa declined 47% to €22.8 million while Russia also fell to €20.3 million, a reduction of 202%. In cumulative terms, Golden Visas have yielded almost four billion Euros since inception, mostly in real estate.

Foreign investment from Golden Visas up 34.6% in June

27 Friday Jul 2018

Posted by in Posts

≈ Leave a comment

Tags

, , ,

Golden Visa investment rose 34.6% in June over the previous 12 months to 52.8 million euros, but fell 18.8% in the first half of 2018, according to statistics from the Immigration and Borders Service (SEF). Since 2013, 10,793 Golden Visa residence permits have been allocated to wealthy migrant families: 576 in 2013, 2,395 in 2014, 1,322 in 2015, 2,344 in 2016, 2,678 in 2017 and 1,478 so far in 2018.

Left Block calls for elimination of Golden Visas

21 Thursday Jun 2018

Posted by in Posts

≈ Leave a comment

Tags

, , ,

The coalition partner, Left Block (“Bloco Esquerda”), will soon propose to the General Assembly to do away with the Golden Visa Programme. They consider the immigration shortcut to be a source of corruption, influence peddling, embezzlement, money laundering, tax and criminal offences and unfair discrimination between those who have money and those who don’t.