The Portuguese Agency for Integration, Migration and Asylum (AIMA) has released its much-awaited data report, the Relatório de Migrações e Asilo. It shows that applications for residency permits and family reunifications increased threefold last year under the Golden Visa programme.
The big jump in residency permit applications and issuances comes despite recent changes to the Golden Visa scheme, including the removal of real estate investments as a qualifying option.
What AIMA's Report Says At a Glance
AIMA's latest data, published mid last month, shows a massive increase in Golden Visa approvals:
129% jump in Golden Visas issued to investors
83% increase in family reunification applications - Last year, AIMA granted a total of 2,901 residency permits to family members under the Golden Visa programme, up from 1588 the previous year.
This 83% increase suggests that more investors are viewing the Golden Visa as a gateway to a new life for their entire family, not just as an investment opportunity. On the grand scheme of things, Portugal's foreign resident population ticked up by 33.6% to a little over 1 million, up 117% from 2018
The report also notes that the high demand for residency permits created a backlog last, but the agency has since put multiple measures in place to streamline the application process. These include establishment of a specialised task force and launch of an all-new online platform for residency and citizenship applications.
Changing Demographics of Golden Visa Applicants
The nationality mix of Golden Visa applicants saw interesting shifts last year, with 567 US citizens getting residency through the programme. Other countries that got the most golden visas include:
China: 306 visas
United Kingdom: 234 visas
Brazil: 219 visas
India: 199 visas
The strong showing from American and British applicants shows a departure from previous years, indicating growing interest from these markets.
Golden Visa Programme: Still Attractive Despite Changes
While the real estate investment option was discontinued in October 2023, the Golden Visa programme remains operational with at least five alternative investment routes:
Donations to Science and Arts pre-approved projects
Investment in equity and venture capital funds
Capital transfer options
Opening a company or making business investments that creates permanent jobs for Portuguese citizens
These pathways continue to attract sizable interest from international investors. Of course, there are plenty of reasons why investors, especially high-net-worth individuals, prefer the Portuguese Golden Visa:
Access to Portugal robust social net, including world’s best education, healthcare, and cultural scene
Beautiful, almost-year-round sun-soaked climate
Visa-free travel across the Schengen area in the EU
Prospects of getting a second EU passport after five years of residency
How We Can Help
Don't miss out on the benefits of Portugal's thriving Golden Visa programme. Contact International Wealth Ventures today for personalised advice on securing your future in Portugal or exploring alternative investment opportunities.