The Association of Professionals and Real Estate Companies of Portugal (APEMIP) has called on the government to carry out an urgent audit of the estimated 1,900 Golden Visas issued to date.
The request comes in the wake of suspicions of corruption in the allocation of Golden Visas that has led to the arrest 11 people, including the president of the Foreigners and Borders Service (SEF), and the resignation of the Minister of Internal Affairs, Miguel Macedo.
"The Government should do an audit of all the Golden Visas that have already been issued. It needs to determine if everything is correct with the money that came in Portugal, where it came from and whether or not it actually knows who the people are who bought houses and invested here," said the President APEMIP, Luis Lima.
The estate agents association boss also said he is available to assist in this work which he considers essential if the sector is no longer to remain under suspicion, as is happening now, even though the suspicions of corruption has not fallen on estate agencies.
For Lima, an audit is important so as to ensure confidence in the programme, "Although the Golden Visas are not a major part of the total invested by foreigners in real estate, without an audit we will have a relapse in confidence that could be worse than the disease itself."
So far some €2 billion has been invested by foreigners in real estate this year, with just €700 million invested in return for a Golden Visa.
