Portuguese Government Confirms Golden Visa Program Will Continue
Key Highlights
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Portugal will continue its Golden Visa Program and has no plans to discontinue it.
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The government intends to introduce new changes aimed at improving the program.
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These changes are designed to enhance the program’s economic and social impact.
Portugal Confirms Ongoing Commitment to Golden Visa Program Amid Planned Reforms
The Portuguese government has reaffirmed that its Golden Visa Program will remain active, while also announcing plans for targeted reforms to make the scheme more efficient and impactful. The announcement was made by António Leitão Amaro, Minister of the Presidency, who emphasized that terminating the program is not under consideration.
According to Bloomberg, the primary goal of these upcoming changes is to bolster Portugal’s image as a prime investment destination and ensure the visa scheme remains economically and socially balanced.
“The government is assessing how to structure the Golden Visa Program in a way that is more economically efficient and socially fair,” said Minister Amaro. “What is completely off the table is ending the program. That is not being considered.”
The Golden Visa scheme offers residency rights to wealthy foreign investors who make qualifying investments in the country. In 2024 alone, nearly 5,000 Golden Visas were issued, marking a record high, according to The Portugal News. However, a significant backlog of pending applications still remains.
Changes to Investment Routes
Previously, the most popular route under Portugal’s Golden Visa was real estate investment. Due to a worsening housing crisis, the government discontinued this option in 2023. Since then, foreign investors can no longer qualify for residency through property purchases.
Attorney Tatiana Kazan told Público that the government’s earlier promises of quick permit issuance were not fulfilled, leaving many investors dissatisfied:
“The funds were brought into the country, but the promised results — such as timely residence permits — didn’t follow.”
Application Processing Resumes Slowly
Earlier this month, Pedro Portugal Gaspar, President of Portugal’s Agency for Integration, Migration and Asylum (AIMA), confirmed that Golden Visa application processing has resumed, albeit at a limited pace.
“Some cases are moving forward. They are not on hold. But the agency’s capacity to handle these applications is still developing,” he explained.
Despite the end of real estate-based residency options, several other investment routes remain available, allowing affluent individuals to benefit from the program.