Spain’s Exit Creates a Surge in Demand
Spain’s Golden Visa program was once considered the most accessible in Europe. With a minimum property investment of €500,000, investors could obtain a residency permit, visa-free Schengen access, and a clear pathway to citizenship.
However, locals viewed the program differently. Spain has experienced rising house prices since 2014, largely due to foreign real estate investors seeking a Golden Visa.
Due to this, Spain made a controversial decision to end the scheme. The program’s conclusion will be effective from April 3rd, 2025, which has ignited a surge in investor interest.
With a rapidly approaching deadline, processing times will likely increase, and many late applicants will miss the opportunity. Consequently, many are now exploring alternatives.
Portugal Ramps Up, Digitally and Strategically
With Spain closing its doors, Portugal has accelerated its efforts. Despite a backlog of 50,000 applicants, the Portuguese government has taken decisive action to expedite the process. The AIMA has transitioned to a fully digital Golden Visa application process.
By moving away from traditional paper applications, biometric scheduling is now automated (typically within 30 to 90 days), investors can submit documents in English, Spanish, or French, streamlining the path to residency.
Why Portugal Over Spain? It’s Not Just About Timing
1. Low Application Costs
Spain’s soon-to-be-ended Golden Visa program requires a minimum €500,000 real estate investment.
However, Portugal offers more affordable pathways, particularly through cultural contributions or fund investments.
The minimum capital needed to qualify for the Portuguese Golden Visa is currently €168,000. Holborn Assets provides a range of donation and investment options to suit various investor needs.
These lower thresholds make Portugal a cost-effective EU residency option, which many investors will pursue.
2. Popular with U.S. Citizens
Whether driven by political uncertainty, a desire for global mobility, or the appeal of European retirement, the Portuguese Golden Visa is popular among Americans.
In 2023 alone, over 560 US citizens applied for the program – more than Chinese and British applicants – showcasing its popularity among Western nationals.
It’s likely due to factors such as the country’s high English fluency, world-class healthcare, and favorable tax incentives.
3. Strong Path to Citizenship
Beyond temporary residency, Portugal’s Golden Visa program offers a clear path to EU citizenship.
After just five years (with a minimum stay requirement of 7 days per year), applicants can apply for permanent residency or full citizenship.
Conversely, Spain’s Golden Visa program had a significantly longer path to citizenship, previously requiring 10 years.
Urgency & Opportunity: A ‘Golden’ Moment to Act
Portugal’s Golden Visa program is still accepting applications, but its future is uncertain.
On March 11, 2025, Portugal’s government collapsed for the third time in three years. This has raised questions about the program’s future.
From now (March) until July 2025, the country will be in a “caretaker” phase, making significant policy changes unlikely.
However, the long-term future is less certain, dependent on which party is elected. A Democratic Alliance (AD) victory could reinstate the popular real estate Golden Visa investment, while a Socialist Party (PS) return could lead to further restrictions, similar to those imposed on the NHR tax regime.
Therefore, individuals seeking European residency and citizenship should act swiftly. Even those accepted prior to July will benefit from grandfathering clauses, protecting them under current terms.
As Jason Swan, Golden Visa expert at Holborn Assets, states:
“Investors will be protected under the laws in effect at the time of their application. Any future changes will not apply retroactively, as we witnessed in 2023 when the program was initially set to close. If you are considering the Golden Visa, it is prudent to proceed before any potential law changes, as they may prove unfavorable.”
In Times of Change, Timing Is Everything
With Spain’s Golden Visa ending and the uncertainty surrounding the Portugal Golden Visa Program, investors seeking European residency and citizenship need to act promptly.
Now is an opportune moment to gather information, ask questions, and explore qualifying investment opportunities for 2025 through Portugal’s Golden Visa Program.
Our exclusive webinar, hosted by Jason Swan, a Golden Visa specialist at Holborn Assets will delve into these changes and provide expert guidance for those ready to take the next step.
Live Webinar
If you’re considering Portugal’s Golden Visa Program, you can sign up for a live Q&A webinar with an expert from Holborn Assets to answer your questions. Click the link to discover when the next session is and secure your spot! The webinar will cover:
- Golden Visa Basics – how to qualify, who can be included
- Application timeline and process, latest updates with AIMA
- Latest investment criteria – March 2025
- How to qualify with €349,000 – this exclusive offer includes an upfront return and an exclusive loan offering to bridge the gap to reach the €500k minimum investment.
- Tax Breaks / NHR 2.0
- Most Popular Investment Picks – March 2025
- Live Q&A for all questions
Click to claim your spot today!
Disclaimer: The views expressed on this page are those of the author and not of The Portugal News.
