Portugal Restarts Golden Visa Applications Amid Processing Delays
Portugal Resumes Golden Visa Processing Slowly Amid Shift in Investment Trends
Pedro Portugal Gaspar, President of Portugal’s Agency for Integration, Migration and Asylum (AIMA), has confirmed that the country has resumed processing Golden Visa applications. However, according to a report by Público, the current pace is still slower than expected, leaving many investors eager for faster approvals.
Portugal’s Golden Visa: Shift After Real Estate Route Closure
The Golden Visa Program of Portugal offers residency to non-EU nationals in exchange for qualifying financial investments in the country. Previously, the most popular route was through real estate investment, which was officially terminated in 2023 as part of the government’s strategy to address the national housing crisis.
The real estate option had attracted significant foreign capital but was criticized for contributing to rising property prices, especially in Lisbon and Porto.
Investors Shift Toward Other Golden Visa Options
Attorney Tatiana Kazan told Público that many applicants expected their residency permits to be processed quickly before the real estate route was abolished. Since its removal, investor interest has shifted toward other qualifying investment categories, which remain active:
- Investment in a qualifying fund: Minimum €500,000
- Capital transfer: Minimum €1.5 million
- Scientific research: Minimum €500,000
- Job creation: Minimum €500,000, with the creation of at least five jobs
Cultural Heritage Investment Sees Notable Growth
Among the available options, the Cultural Heritage route of the Golden Visa scheme has seen a significant increase in interest. In 2024 alone, Portugal attracted €12 million through this channel — a 165% increase compared to €4.5 million in 2023.
The surge in cultural investment came shortly after the real estate path was phased out, signaling a diversification in the profile of Golden Visa applicants.
Conclusion
While Portugal’s Golden Visa Program remains active, its processing speed is yet to meet investor expectations. However, with new investment routes gaining momentum, the program continues to be a viable pathway for non-EU nationals looking to secure residency in Portugal through strategic contributions to the country's economy and cultural landscape.
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