Portugal Golden Visa Resumes: AIMA Revives Investor Confidence

After months of delays and uncertainty, the Portugal Golden Visa program is officially back in operation, with the country’s new immigration agency, AIMA, stepping up to restore order and speed to one of Europe’s most desirable residency-by-investment pathways.

The relaunch has sparked renewed optimism among investors worldwide, especially after several months of stagnation following the closure of SEF (Serviço de Estrangeiros e Fronteiras), Portugal’s former immigration authority. The newly established AIMA has confirmed that Golden Visa applications are now being processed once again — both for pending applicants and new investors entering under the reformed program.

Clearing the Backlog, Rebuilding Trust

According to AIMA officials, priority is currently being given to applications submitted before October 2023, which had been stalled for months due to bureaucratic transitions. The agency has begun addressing this backlog using an updated digital platform that aims to streamline future processes and reduce wait times.

This long-anticipated update brings relief to thousands of investors who had committed capital to Portugal but were left in limbo amid administrative restructuring.

Major Changes: A New Era for Portugal’s Golden Visa

The Portugal Golden Visa no longer offers real estate as a qualifying investment, a move that initially surprised many global investors. However, the updated program is now more aligned with national priorities, encouraging foreign capital to flow into productive, sustainable sectors.

The current investment options include:

• A minimum €500,000 investment in approved funds

• Donations or support for scientific research, cultural heritage, or arts

• Business development and job creation opportunities

These changes shift the focus from luxury property markets to areas with broader economic and social value.

A Global Shift: Why Investors Still Choose Portugal

Despite the program’s transformation, Portugal remains a top destination for global investors seeking EU residency. With Spain officially ending its Golden Visa program, Portugal now stands as one of the few attractive options left in Western Europe.

“We’ve already seen a surge in inquiries,” says Yusuf Boz, founder of international investment firm NotteGlobal. “Portugal’s fund-based Golden Visa now appeals to a different kind of investor — those looking for long-term growth and passive EU residency without the pressure of full relocation.”

Boz also notes that Portugal’s residency rules are flexible, requiring just seven days of physical presence per year, making it ideal for busy global citizens and entrepreneurs.

Key Benefits Still Intact

Even after the reforms, Portugal’s Golden Visa continues to offer strong advantages:

• Access to the Schengen Area

• Full residency rights, including healthcare and education

• Inclusion of spouses, children, and dependent parents

• A straightforward path to Portuguese citizenship after five years

• No requirement to live full-time in Portugal

In a time of global uncertainty, the Portuguese Golden Visa remains a powerful tool for those seeking mobility, security, and European integration.

Next Steps for Interested Investors

AIMA is currently scheduling biometric appointments and document submissions for new and pending applicants. Experts recommend preparing application files early, especially as processing times may fluctuate depending on demand.

With several countries tightening residency programs or phasing them out completely, Portugal is now one of the last standing options in the EU for investors to gain residency through diversified investment.

The news that the Portugal Golden Visa resumes under AIMA signals a strong comeback for one of Europe’s flagship investor residency programs. With new focus areas and improved efficiency, the opportunity to gain Portuguese residency — and potentially EU citizenship — is very much alive.

For those who missed the chance in Spain or are looking for a smart, flexible, and strategic Plan B, Portugal offers the ideal alternative.