Increase In Cultural Heritage Route For Portugal Golden Visa

The Cultural Heritage option of the Golden Visa Program generated €12 million in investments in Portugal in 2024, marking a 165 percent increase compared to 2023's figure of €4.5 million.

This rise in demand has been particularly noticeable since Portugal ended the real estate investment route in its Golden Visa Program, Schengen.News reports.

Although Portugal's Residency-by-Investment scheme began in 2013, the Cultural Heritage option was officially launched in 2020.

Portugal's Golden Visa Program offers residency to affluent foreigners who choose to make a financial investment through one of its options. The Cultural Heritage option allows internationals to invest in the preservation of Portugal's cultural heritage.

Since 2020, investments totaling approximately €22.15 million have been recorded through Portugal's Cultural Heritage Option, according to Imi Daily.

Madalena Monteiro from Liberty Legal, who obtained the data from Centro Português de Fundações (CPF), informed Imi Daily that the cultural investment path has seen remarkable growth throughout 2024-2025, "accelerated by the removal of the real estate investment option."

The report indicates that in the first quarter of 2025 alone, this path has contributed €850,100 in Portugal, funding 38 cultural projects across the country.

In February this year, Portugal's authorities announced plans to speed up the processing of Golden Visa applications.

Portugal's Agency for Integration, Migration and Asylum (AIMA) revealed plans to digitalize its paper-based application system, thereby reducing waiting times.

This means AIMA will schedule biometric appointments within 30 to 90 days after foreign investors submit their online applications. Additionally, an immigration lawyer from Lisbon-based FiO Legal, Bettino Zanini, told Bloomberg News that the agency will also accept untranslated documents in languages such as Spanish, French, and English.

The lawyer also informed Bloomberg News that nearly half of his 50 golden visa clients have filed lawsuits against Portugal due to prolonged processing delays. If successful, these lawsuits can compel AIMA to decide on a golden visa application in about three months instead of three years.

Portugal's Golden Visa Program is one of Europe's most renowned. Despite the government removing the real estate investment option to address the housing crisis, it continues to attract numerous internationals.

Since its official launch in 2012, the program has brought over €7 billion ($7.2 billion) to Portugal.