Portugal reforms its immigration policy and proposes a Golden Visa for social investments
In recent weeks, the Portuguese government has presented two sets of measures that, among other things, will add a new modality to the Residence Permits by Investment (ARI, in Portuguese), also known as the “Golden Visa”, as well as ending the option of residence by “Declaration of Interest”, used for those who arrived in Portugal without a residence visa and then proceeded with their regularization in the country itself.
This falls within the “ Action Plan for Migration ” whose main objectives are to improve entry rules to Portugal and facilitate the operational management of the Agency for Integration, Migration and Asylum (AIMA) , which suffers from significant congestion and delays in its processes.
Ninety percent of these delays are due to the "Declaration of Interest" scheme, as reported by the specialized publication IMI Daily . Essentially, this option allowed immigrants without a residence visa to arrive as tourists and easily begin the process, provided they found a job, contributed to Social Security, or started a business. After 12 months of contributions, their status was considered legal.
The new situation will allow for a significant decrease in new applications and better use of AIMA staff, who will also be in charge of residence renewals again, instead of the IRN (Instituto dos Registos e do Notariado).
Regarding the new Golden Visa, it contemplates a minimum investment of 250.000 euros, non-refundable, in projects that include "investments made in reception equipment and infrastructure, integration projects and support for immigrants in vulnerable situations," such as reception centers, job training programs, and legal and psychological advice services.
In parallel, the possible creation of a system for intermediating and accrediting social investment is being considered, specifically through the State Asylum, Migration and Integration Fund (AMIF). This is in addition to the measures outlined in “ Building Portugal , ” the other major set of initiatives announced by the Government, to promote investment in housing at controlled prices or with affordable rent.
It is worth noting that the Portuguese government, which prefers to speak of "an ARI to channel investments for solidarity purposes" and not a Social Golden Visa, has indicated that there will also be priorities and facilities for issuing Visas for Highly Qualified Workers (HQA) , thus seeking to attract more talent from abroad.
Portugal continues to offer what many consider one of the best Golden Visa programs in the world. A report by Henley and Partners ranks the country among the top 10 destinations for residency by investment.
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