In a strategic shift to solidify its role as a premier destination for global capital, Portugal is preparing significant updates to its Golden Visa Program, designed to attract more foreign investors and high-net-worth individuals seeking European Union residency.

According to recent reports, the Portuguese government is considering a new package of tax incentives, including a 20% flat tax on domestic income and a 10-year exemption on most foreign income. These changes are aimed at making the country’s residency-by-investment program even more attractive to international applicants.

Government Confirms Golden Visa Program Will Continue

Antonio Leitão Amaro, Portugal’s Minister of the Presidency, recently told Bloomberg that while the country is reevaluating aspects of the Golden Visa scheme, there are no plans to terminate the program. Instead, the government is focused on reforms to make it more competitive and efficient.

“The idea is to enhance the program and offer clear benefits to new residents,” Amaro said, emphasizing the government’s intention to keep the program active while addressing current backlogs.

Record-Breaking Surge in Applications

According to data from Portugal’s Agency for Integration, Migration and Asylum (AIMA), Golden Visa approvals increased by 72% over the past year, with the majority of applicants coming from the United States.

In 2024 alone, Portugal approved nearly 5,000 more Golden Visa applications than in 2023, marking a new annual record. This increase comes despite the government’s decision to remove the real estate investment route as part of a national housing strategy.

AIMA Resumes Processing Amid Significant Backlog

Despite the program’s popularity, AIMA is currently handling a backlog of over 50,000 applications, many of which have been pending for more than three years. In April, Pedro Portugal Gaspar, President of AIMA, confirmed that the agency has resumed processing applications—although not yet at the pace expected by investors.

“Processes are moving forward. They are not at a standstill,” Gaspar said, acknowledging that delays remain due to administrative limitations.

Investment Routes Still Available

Although real estate investment is no longer eligible, Portugal’s Golden Visa still offers several attractive options, including:

• Capital investment

• Cultural or scientific contributions

• Business development and job creation

These routes continue to attract a large number of global investors, positioning Portugal as a top-tier destination for residency and lifestyle opportunities in Europe.

Interested in Securing Residency in Portugal?
Take the next step with EU Prime Serwis – your trusted partner in the Golden Visa process. Get personalized support and expert guidance to navigate Portugal’s evolving residency-by-investment landscape.