Portugal is accelerating the processing times for Golden Visa Portugal applications, addressing the significant delays that previously damaged the program's reputation.
The Golden Visa Portugal program allows foreign investors to obtain a residence permit in Portugal through investments in specific sectors, such as real estate, job creation, or capital transfer.
This program, officially known as the Residence Permit for Investment Activity (ARI) scheme, has become one of the most sought-after residency-by-investment options in Europe.
As reported by Bloomberg, the Agency for Integration, Migration and Asylum (AIMA) has announced that it will transition from a paper-based application system to a fully digital platform. Currently, there are between 45,000 and 50,000 Golden Visa applications pending review. Applicants can now transfer their applications to the new online system, streamlining the process and enhancing efficiency.
This is a positive development for Golden Visa Portugal applicants, ensuring a smoother and faster application experience.
This is great news for investors,” said Bettino Zanini, an immigration lawyer at FiO Legal in Lisbon, who has participated in several group discussions with AIMA on the matter.
The new digital system aims to address the backlog of pending Golden Visa Portugal applications. According to reports, numerous investors have taken legal action to urge AIMA to expedite the processing of their applications, with some waiting years just to schedule the mandatory biometric appointment for fingerprinting and other personal data collection.
Zanini predicts that with the new system in place, AIMA will automatically schedule biometric appointments within 30 to 90 days after applicants complete their online submissions.
The Golden Visa program requires applicants to spend just seven days a year in Portugal and has raised over 7 billion euros since its launch in 2012. The program is particularly popular among Chinese, Brazilian, and American citizens.
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