Portugal Confirms Its Golden Visa Program Will Continue With New Changes Ahead

Portugal’s famous Golden Visa Program is here to stay and will not be terminated, despite previous speculation. The country’s Minister of the Presidency, António Leitão Amaro, has confirmed the government’s commitment to maintaining the scheme and even plans to introduce changes to make it more attractive for wealthy international investors.

“Ending the program is not on the agenda. There is no plan to end it,” the minister said.

Nearly 5,000 Golden Visas Issued in 2024

According to The Portugal News, nearly 5,000 Golden Visas were issued in 2024—a new record. However, a large number of applications are still pending, highlighting ongoing challenges in processing times.

Portugal’s Golden Visa scheme is among the most popular in Europe, historically favored because investors could obtain residency through real estate purchases. However, due to the country’s housing crisis, the real estate route was shut down in 2023.

Investors Disappointed by Delays

Attorney Tatiana Kazan shared with Publico that many investors faced delays in obtaining their residence permits:

“Before the ban, many believed the government’s promises that residence permits would be issued quickly. The money entered the country, but there was no counterpart,” she explained.

Earlier this month, Pedro Portugal Gaspar, President of the Agency for Integration, Migration and Asylum (AIMA), said that processing has resumed, although at a slower pace than investors would prefer. He stressed that applications are moving forward but not at the desired speed.

Alternative Investment Routes Still Available

Although real estate investment has been eliminated as an option, other routes remain open for the Golden Visa program, including:

Investment in funds;

Creating businesses and jobs;

Supporting scientific or cultural projects.

Portugal’s government is currently studying how to make the Golden Visa scheme more economically efficient and fair for both society and investors.

The Future of Portugal’s Golden Visa

Portugal aims to maintain its reputation as a prime investment destination. Experts believe that keeping the Golden Visa program alive—while fine-tuning it—will help Portugal stay competitive in the race among EU nations for high-net-worth individuals.