Investment picked up by visa gold fell by half in 2015 – publico

                 

                         
                     

                 

 
 

The investment captured by the visa gold has been halved in 2015 from the previous year to around EUR 466 million, according to data from the Foreigners and Borders Service (SEF). Last year, the resulting investment of Residence Permits for Investment activity (ARI) amounted to 466,259,797.63 euros, representing a decrease of 49% compared to 921,314,178.34 euros in 2014 .

Of the total of about 466 million euros obtained from the golden seen, most of the investment (418,079,180.09 euros) resulted from the acquisition of real estate, which remains criteria What else gives ARI. In 2014, the investment raised from the purchase of property was nearly twice last year, the total 840,425,983.31 euros, according to the same data. For visas gold assigned by transferring capital, last year the investment was 48,180,617.54 euros, less than the 80,888,195.03 euros in 2014 .

To the slowdown in investment in ARI helped the police investigation “Operation Labyrinth”, which was known in November 2014 and the consequent amendment of the allocation rules of golden visas . In the past year, they were granted 766 visas gold , less than half of the 1,526 assigned in 2014 as the best year ever this attracting foreign investment program. Of those 766 gold visas, 719 resulted from the purchase of real estate, 46 transfer of capital and creating at least ten jobs.

In 2014 , 1452 visas were assigned gold the acquisition of real estate, 71 transfer of capital and three by job creation. From 08 October 2012, when the measure was applied, 2015, were awarded ARI 2788, a total investment of 1,693 million euros. Of this aggregate amount, 1,528 million resulting from the purchase of real estate and 165.4 million of capital transfer of euros.

Since the program is in force has been allocated 2,635 visas gold by way of purchase of property, 149 for transfer of capital and four by creating at least ten jobs. February 23, 2015, the former deputy prime minister, Paulo Portas, presented the new changes in the rules for granting visas, which extended foreign investment to areas such as urban rehabilitation or science, among others, and which were published in the Official Gazette on 30 June.

However, the SEF has suspended the award process on 1 July for lack of legal framework between the old and the new regime . Only July 16 the government approved the regulatory decree implements the amendments to the law. The new measures came into force on September 3, although to date is not known assigning golden seen by the new rules.

There are now more than four thousand applications pending at the SEF, waiting for approval. Applications submitted in January last year will only begin to be instructed in February.

Changes to the granting of visas gold came after the police investigation “Operation Labyrinth “in November 2014, which led to the arrest of five of 11 defendants for alleged corruption, a process that culminated in the resignation of the then Minister responsible for Internal Affairs, Miguel Macedo.