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Source: Investment Migration Insider

Author: Christian Nehseim

Investment in Portugal’s golden visa program in October fell to levels not seen since the onset of the pandemic, a trend likely driven by a sharp rise in case-numbers, which currently dwarf those observed in the spring: 54 main applicants and 72 dependents received their ARIs last month, a 31% reduction compared to September and a 47% drop compared to October 2019. The October approvals pertained to golden visa investments amounting to some EUR 29 million, of which EUR 26 million took the form of real estate acquisitions.

Presuming COVID-related disruptions are the primary cause of the slowdown, Portugal’s golden visa investment volumes are unlikely to pick up in November. The pandemic is also likely to dash hopes for a year-on-year improvement in investment volume in 2020, an ambition that had until recently appeared realistic.

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