Portugal's Golden Visa Program saw a significant rise in the number of residence permits issued in 2023.

Notably, family applications surged by 83% year-over-year, while individual applications also rose considerably by 21%, Schengen News reports.

In 2023, there were 2,091 family applications through the Golden Visa program, compared to 1,588 in 2022.

Werner Gruner, the Regional Partner at Get Golden Visa, told Investment Migration Insider that the significant rise in family applications reflects a fundamental change in the perception of the Golden Visa.

“Golden Visa is no longer an investment instrument or a means to an end; it’s a getaway to a better lifestyle. Portugal’s world-class healthcare system, competitive international schools and a desired quality of life carry important aspects for families looking for a secure and better future in terms of expectation,” Gruner stated.

The chance to gain residency in Portugal through the Golden Visa Program draws many international applicants each year.

According to figures from Imi Daily, the leading beneficiaries of Portugal's Residency by Investment Program, known as the Golden Visa Program, in the previous year were nationals from the United States (567), China (306), United Kingdom (234), Brazil (219) and India (199).

The statistics indicated that in 2023, applicants from the United States surpassed those from China, reflecting a significant increase in interest among US nationals in Portugal’s Golden Visa Program.

In addition, there was a notable rise in the number of internationals residing in Portugal, which surged by 34% to a record high of 1,044,606. This represents a 117% increase from 2018, when the expat population in Portugal stood at 480,300.