Portugal To Shorten Golden Visa Waiting Times

Applicants for Portugal's Golden Visa Program might experience significantly reduced waiting periods soon, as the country's authorities are actively working to expedite the processing of these highly sought-after permits. This initiative is part of a broader effort to enhance the efficiency of the immigration system and to better serve the needs of foreign investors seeking residency in Portugal.

This positive development follows the ambitious plans put forth by Portugal's Agency for Integration, Migration and Asylum (AIMA), which aims to transition from a cumbersome, paper-based application system to a more streamlined and user-friendly digital platform, as reported by Schengen.News. The digitization process is expected to not only facilitate smoother application submissions but also to enhance overall communication between applicants and the agency.

Bloomberg has reviewed a comprehensive copy of this strategic plan, which outlines the steps that will be taken to modernize the application process. Bettino Zanini, an experienced immigration lawyer based at the Lisbon firm FiO Legal, informed Bloomberg News that these anticipated changes are highly favorable for investors looking to secure their residency in Portugal. The legal expert emphasized that an efficient processing system will likely attract more applicants, thereby bolstering the attractiveness of the Golden Visa Program.

Current data from Portugal's Agency for Integration, Migration and Asylum indicates that there are approximately between 45,000 to 50,000 golden visa applications currently pending review. This backlog has created significant delays, prompting many applicants to seek alternative legal measures to urge AIMA to expedite their requests. Furthermore, numerous applicants have faced frustratingly long waits—sometimes extending to years—for a mandatory biometric appointment, during which critical personal data, including fingerprints, is collected.

The newly introduced changes promise to alleviate some of these pressing issues. Under the revised system, AIMA will automatically schedule biometric appointments within a timeframe of 30 to 90 days after investors complete their online applications. This change is expected to streamline the process considerably, reducing the uncertainty that has plagued many applicants. Additionally, according to immigration lawyer Zanini, the agency will now accept untranslated documents in English, French, and Spanish, which will further simplify the application process for a diverse range of international investors.

Portugal's Golden Visa Program, which offers residency in exchange for significant financial investments from affluent nationals hailing from non-EU countries, has garnered considerable attention in recent years. The program has been particularly attractive due to its relatively straightforward requirements and the chance for investors to gain access to the European Union.

Although Portuguese authorities have made the decision to remove the real estate investment option from this scheme—the most popular route for many applicants—as a measure to address the ongoing housing crisis, other investment options remain available and continue to draw the interest of numerous international investors. These alternatives include capital transfers and job creation initiatives, which still provide viable pathways to residency.

Looking ahead, increased demand from North America and the United Kingdom, coupled with the need for improved processing capabilities to meet the rising demand, along with consistent interest from Asian markets, are among the key predictions for the Golden Visa Program as it moves into 2025. The anticipated influx of applicants is expected to further highlight the importance of a more efficient processing system.

However, it is crucial to acknowledge that long visa processing times have left many golden visa applicants in a state of limbo, creating uncertainty and frustration. As the program evolves and adapts to the needs of its applicants, the hope is that these changes will ultimately lead to a more efficient and responsive system that can better accommodate the growing interest in the Golden Visa Program.