As it became known, in 2024, the number of applications for the Portugal Golden Visa for Investment from families increased by 83% and amounted to 2091. The number of individual applicants also increased by 21%. The main beneficiaries of the Portugal Golden Visa program are citizens of the USA, China and the UK.
Meanwhile, the situation with the speed of processing applications for residence permits remains difficult, due to high demand. The Agency for Integration, Migration and Asylum (AIMA) by mid-2025 should finish processing about 410,000 immigration cases that are stuck due to internal reforms and the reorganization of relevant departments.
Long-awaited digital renovations
In the fall of 2024, the Institute of Registers and Notaries (IRN) of Portugal plans to launch a new online platform to speed up the naturalization procedure (issuing citizenship), automation and digitization of documents. Using artificial intelligence, the platform allows to digitize documents, extract applicant identification data, and automatically classify the process depending on the type of request. This will increase the capacity of services to process citizenship processes by 50%.
Portugal Golden Visa for Ex-Royal Couple. Yes, or no?
According to the British press, Meghan Markle and Prince Harry bought a house in Portugal for $4.7 million. Media reports that the couple aims to obtain a “golden visa” and become EU residents. But the British press did not take into account the nuance. Since October 2023, Portugal does not issue residence permits for the purchase of real estate. This tightening is due to the overheating of the Portuguese property market and rising house prices. Thus, to obtain a Portugal Golden Visa, Megan and Harry would not have to buy real estate, but invest money in a special fund.
How to invest in a fund to obtain a Portugal Golden Visa
APEX recommends an authorized closed-end fund to its clients which is dedicated to hotel assets and residencies with a strategy focused on operating assets looking for expansion and upgrades. Focus is on the high-end market segment in Portugal with a target size of 75 million euros. Target return is 6% and management fee is 2% per year. The investment period is 5 years and first closing will be 31st of December 2024.
It is important that concluding an agreement with the fund and transferring the full amount is a mandatory requirement for preparing an application for a residence permit in Portugal. And then the money remains in the fund, according to the terms of the concluded agreement, regardless of the decision on the application. Therefore, it is important to choose a fund whose contract terms are optimal for the investor’s financial strategy.
Portugal Golden Visa program’s special benefit
The five-year period before naturalization procedure (citizenship) begins on the date of submission of the Portugal Golden Visa application, and not on the date of obtaining a permanent residency card. Amendments to the Law came into force in 2024. Meaning that while waiting 12-15 months for a decision on the application, investor “gains” time, which will be counted when applying for Portuguese citizenship.
