Madeira attracted 60 million Euro through 50 golden visas

  • 15 February, 22

The investment captured through golden visas in Madeira was 60 million euros between 2017 and 2021, mainly in the real estate sector, and corresponds to 50 residence permits, the Regional Government indicated on 4 February.

The secretary of state, who was speaking at the opening of a seminar on gold visas in Funchal, believes that the recent changes in the Residence Permit for Investment (ARI) programme, which exclude Lisbon and Porto, are an “enormous opportunity” for Madeira.

The citizens who have made purchases over €500,000 in the autonomous region since 2017, under the ARI, are mostly Russians and Americans, with Brazilians, Chinese, South Africans and Bolivians also registered.

“We are talking about investments in the luxury residential area, but the Regional Government is also concerned about the supply in the real estate market for residents and people who have low income,” said Rui Barreto, admitting that gold visas inflate the price of houses.

Cre:Portugalnews

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