Portugal Reaffirms Commitment to Golden Visa Program with Planned Reforms

Portugal has confirmed that its Golden Visa Program will continue, despite upcoming policy changes aimed at making the scheme more effective and socially responsible. According to Minister of the Presidency António Leitão Amaro, “Ending the program is not on the table.”

The government’s objective is to reposition Portugal as an attractive destination for global investment by redesigning the Golden Visa structure to ensure economic and social fairness. The focus is now on enhancing efficiency and aligning the scheme with the country’s broader development goals.

Golden Visa Applications Reach Record Levels in 2024

In 2024, Portugal issued nearly 5,000 Golden Visas—a new annual record. However, many applications remain pending, partly due to backlogs following previous delays in processing.

Previously, the most popular route to residency was through real estate investment. However, in 2023, the government scrapped this option to address the housing crisis. Investors are now required to choose other eligible investment pathways, such as cultural support, scientific research, or business funding.

Application Processing Resumes, but Progress Is Slow

Pedro Portugal Gaspar, President of the Agency for Integration, Migration and Asylum (AIMA), confirmed that golden visa application processing has resumed. However, he acknowledged that progress is slow due to procedural complexities and capacity constraints.

Despite these challenges, interest in the program remains strong, particularly from high-net-worth individuals seeking EU residency through non-property investment routes.

Portugal’s Golden Visa Program continues to stand out among EU countries, and the upcoming reforms are expected to increase transparency, efficiency, and long-term economic value.