Portugal Golden Visa: Citizen
Portugal has tightened its citizenship rules for foreign investors, extending the time required to obtain a passport as the country faces record levels of immigration.
The bill, signed by Antonio José Seguro on May 3, doubles the residence period for most applicants under the Golden Visa program, which allows non-Europeans to obtain residency through investment.
The Golden Visa offers a fast-track route through options such as a minimum investment of €500,000 in eligible funds, with applicants able to obtain citizenship after five years in the first program.
What changes for applicants
Under the new law, the citizenship deadline has been extended for all categories:
• Most foreign nationals: 5 years to 10 years
• Citizens of the European Union and citizens of Portuguese-speaking countries such as Brazil, Angola and Mozambique: 3 years to 7 years
• Residence period now starts when the first residence permit is issued, not at the time of application
• A new civics knowledge test and a declaration of commitment to democratic values will be required
The changes apply broadly to applicants, including those from Lusophone countries, who will now have to wait seven years instead of five to qualify for citizenship.
President expressed concern over pending cases
Despite approving the bill, Seguro raised concerns about how the changes could impact applications already in progress.
“This would be an undesirable breach of trust in the state, both domestically and internationally,” Seguro said, referring to the possibility of applying the new rules retroactively.
He said there is a need to ensure that pending applications remain unaffected. Seguro said, “The importance of guaranteeing that pending processes are not effectively affected by legislative change, which would be an undesirable breach of trust in the state, domestically and internationally.”
On delay in processing, he said the deadline should not be extended due to administrative inefficiencies. “It is important to ensure that the counting of legally mandated deadlines for acquiring nationality is not affected by state laxity,” he said.
background of increasing immigration
The policy change comes as Portugal grapples with a sharp increase in its foreign population. A record 1.5 million residents, about 15% of the population, are now foreign nationals, according to the Agency for Integration, Migration and Asylum, almost three times the level seen in 2019.
The government is also attempting to clear the backlog of immigration applications, including those related to the Golden Visa scheme.
Investors should reevaluate the timeline
According to Mark Damsgaard, founder of Global Residence Index, the changes may prompt some investors to reconsider their options.
“If your goal was residence in the EU, lifestyle, Schengen access, family protection, almost nothing changes,” Damsgaard wrote in a blog post. “If your goal was specifically a Portuguese passport in 5-6 years, the timeline is now changing; it is worth reevaluating compared to Italy, Greece, Malta, or other EU options.”
