Portugal Plans New Golden Visa Reforms to Attract Global Investors
Portugal Plans Golden Visa Enhancements to Attract More Global Investors
Portugal is considering revamping its Golden Visa Program to draw a greater number of foreign investors. The initiative, which offers residency in exchange for financial investment, has already seen a significant increase in approvals over the past year—up by 72%, according to Portugal’s immigration agency, AIMA.
In an interview with Bloomberg, Portugal’s Minister of the Presidency, António Leitão Amaro, confirmed that the government is exploring ways to make the Residency-by-Investment scheme more competitive, particularly given the reduced availability of such programs across the EU.
Record Number of Golden Visas Approved in 2024
In 2024, the Portuguese government approved 4,987 more Golden Visa applications than in the previous year, setting a new record. A substantial portion of these approvals were granted to U.S. nationals, reflecting a growing interest from non-EU investors.
Among the proposed incentives under consideration is a 20% flat tax on local income for new residents, coupled with a 10-year exemption on most foreign income, though specific details are still pending. Minister Amaro emphasized that Portugal has no intention of discontinuing the Golden Visa Program and confirmed that AIMA is actively working through a backlog of approximately 45,000 pending applications.
Golden Visa Processing Resumes at Slow Pace
Earlier this year, Pedro Portugal Gaspar, President of AIMA, stated that while the agency has resumed the processing of Golden Visa applications, the pace remains slower than expected.
“Some of these processes are being conducted. They are not at a standstill. Now, naturally, there is a capacity to respond, given the various process flows,” Gaspar told Público.
Currently, AIMA is dealing with a waiting list of over 50,000 applicants, including both investors and their family members. Some of these applications have been pending for over three years.
Real Estate Option Removed, Other Investment Routes Remain
In an effort to ease Portugal’s housing crisis, the government has eliminated the real estate investment route from the Golden Visa Program. However, other qualifying investment channels—such as capital transfers, job creation, and cultural or scientific contributions—continue to be valid and are attracting strong interest from international applicants.
Conclusion
As Portugal works to improve processing times and introduce investor-friendly benefits, its Golden Visa Program is poised to remain one of the most attractive residency-by-investment options in Europe. With reforms under discussion and demand continuing to rise, the country is reaffirming its position as a top destination for global investors seeking EU access and long-term stability.
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