An IMGW News Report
Portugal’s long-stalled Golden Visa programme has creaked back into motion, though progress remains sluggish. The Agency for Integration, Migration and Asylum (AIMA) has resumed processing applications, but faces a daunting backlog of some 50,000 investors and their families, many of whom have been waiting for up to three years.
“Despite its slow revival, Portugal’s golden visa remains a magnet for global investors”
The Golden Visa, which grants residency to non-EU nationals in exchange for financial investment, saw its most popular route—property investment—scrapped in 2023 amid efforts to cool the overheated housing market. In its absence, attention has turned to alternative qualifying routes, including capital contributions, research funding, and job creation, each requiring minimum commitments of €500,000 or more.
Many applicants, encouraged by earlier official reassurances, had expected swifter processing times. Yet the flood of applications, especially ahead of the property route’s closure, overwhelmed the system, leaving thousands of investors stranded in limbo.
One bright spot is Portugal’s Cultural Heritage route, which has seen a surge in popularity. In 2024 alone, investments through this option soared to €12 million—an increase of 165% over the previous year, as investors seek viable alternatives to property.
Despite its slow revival, Portugal’s Golden Visa remains a magnet for global investors. But unless AIMA accelerates processing and clears the backlog, the programme risks being overshadowed by its own delays.
