Applications for Golden Visas resume following suspension

30 Jun 2022

Golden Visa applications in Portugal have resumed after being suspended for six months, with numerous applications for Residence Permits for Investment (ARI) already submitted.

According to the Portuguese Association of Real Estate Developers and Investors (APPII) “the platform to introduce the new ARI of the Foreigners and Borders Service (SEF) is finally operational.”

APPII president Hugo Santos Ferreira commented: “In addition to attesting that the ARI platform, managed by the SEF, is fully operational, APPII has also confirmed that the platform has already received several applications for Residence Permits by Investment, after having been inoperative since the beginning of this year.”

He added “that the competent authorities have addressed APPII’s concerns” in order to restart the prospect of putting forward new Golden Visa applications.

“We are once again experiencing a social and economic crisis whose duration and consequences are still unknown. But, unlike the other recent crises, this one represents an important opportunity for Portugal. Our country offers unique conditions to those who seek us as an investment destination, due to security, location and quality of life,” he stated.

“For this reason, it is essential to have the process of residence permits for investment 100% operational to attract and receive with dignity those who want to invest in Portugal”.

Furthermore, according to data from the Foreigners and Borders Service, investment through Golden Visas rose by 94% in May compared to the same month last year, hitting €53.8 million.

A total of 17 Golden Visas were granted to China, 16 to the U.S., 10 to Brazil, eight to Lebanon and seven to India.

Between January and May, the total investment generated surpassed €238 million, in relation to applications submitted before new applications were suspended.