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The Portugal Golden Visa is an immigrant investor program by the government of Portugal that grants residency to individuals who make qualifying investments such as investment fund subscriptions, business and job creation, scientific research, or cultural heritage support. [1]
Despite being advertised as a fast route to a residence card, processing of Golden Visas is extremely slow with many investors left without a residency card despite waiting multiple years after applying. As of 2023, the backlog would take an estimated 7 years, or until 2030, to be processed. [2]
This has led investors to file lawsuits to hold the Portuguese Foreigners and Borders Service to the legally mandated 90 day processing time. However such lawsuits only move the winner to the front of the line and do not change the overall backlog. As of beginning of May 2024 around 50 lawsuits were filed per day. [3] As of 10 May 2024 there were 7,500 lawsuits pending in total, which Porto's mayor Rui Moreira described as "a scandal". [4]
More recently, the Portugal Golden Visa program has undergone significant updates aimed at improving efficiency and reducing processing delays. In January 2024, the Portuguese Immigration and Borders Agency (AIMA) introduced a fully digital system designed to simplify applications and accelerate approvals. By February 2024, applications previously marked as "UNDER ANALYSIS" or "ACCEPT" were updated to "WAITING TO BE SENT", allowing applicants to finalize their submissions directly through the ARI Portal. Additionally, applications that were labeled "AWAIT ANALYSIS" can now be completed online, moving them closer to the residence permit phase.
The new system enables all application steps to be completed digitally up to the biometric appointment, significantly reducing delays. Applicants can now update documents directly through the ARI Portal, streamlining the process and providing a faster route to obtaining residency in Portugal.
The Portuguese government has announced plans to clear all pending applications by mid-2025, with biometric appointments scheduled immediately after online submissions.
Despite lawsuits being advertised as a way to get the residence card within a reasonable time, there are now so many lawsuits that the courts themselves are paralyzed by a lawsuit backlog, and wait time for a lawsuit to be heard is steadily growing. As of end of May 2024 the courts were receiving around 100 new lawsuits per day. [5]
The scheme began in 2012. [6] [7] By 2024, the country has received 7.3 billion euros of funds through the program. [8]
In August 2019, according to SEF, Chinese investment in Portugal under the scheme was down during the first eight months of 2019, a decrease of 15.7 percent from the same period of 2018. Investment by Brazilian nationals under the same scheme was up by almost 42 percent in 2019. [9] Spain and Greece have programs comparable to Portugal's Gold Visa program. [10]
The terms and criteria for the Golden visa program have changed over time, and the country has tightened the rules to obtain the visa by simply buying a property in the country. [11] [12]
As of 2025, the Portugal Golden Visa no longer includes real estate investment as an eligible option. [13] Instead, applicants can qualify through the following investment categories:
Investment in Investment Funds – A minimum investment of €500,000 in qualified Portuguese investment or venture capital funds that support sectors such as technology, industry, or other areas of economic growth.
Job Creation – Establishing a business in Portugal that creates at least 10 full-time jobs, directly contributing to the local economy.
Scientific or Technological Research – A capital transfer of €500,000 or more into public or private research institutions, promoting scientific and technological advancement.
Cultural or Heritage Preservation – A minimum contribution of €250,000 towards projects aimed at preserving Portugal’s cultural heritage, such as maintaining or restoring national heritage sites.
These updates reflect Portugal’s efforts to redirect foreign investment into sectors that support long-term economic and cultural development.
Portuguese, European Union, and European Economic Area nationals are not eligible for the ARI / Golden Visa scheme. [1]
Portugal, for example, started offering golden visas in 2012 to non-EU nationals willing to spend at least €500,000 ($557,000) on a property, invest in a fund, or start a company and create jobs. Later, the requirement for property investment was lowered to €350,000.
{{cite news}}: CS1 maint: multiple names: authors list (link)The scheme, which offers wealthy non-EU nationals who invest in Portugal the right to live in the country, has attracted 7.3 billion euros ($8 billion) of funds since its 2012 launch.
Portugal, for instance, has changed the terms of its golden visa program, making it harder to get approval by simply buying property in the country.
The Portuguese government has tightened the rules
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