Portugal rolls out new golden visa scheme for non-EU nationals

06 Jun 2024 CW Team

The golden visa program has attracted over 7.3 billion euros ($7.94 billion) in funds since its inception. However, critics argue that it has exacerbated housing issues and has undergone multiple revisions in recent years. To obtain a visa, purchasing real estate, previously a favoured route for foreigners is no longer an option. Instead, they can invest in funds, contribute to cultural or research initiatives, or create jobs.

We haven't altered the current scheme but have introduced these two forms of solidarity visa, Leitao Amaro stated in a telephone interview following the Portuguese government's announcement of its new plan, which includes tightening certain immigration regulations. One form will encourage foreigners seeking residency to invest in affordable homes for local purchase or rental, while the other will focus on constructing accommodation for migrants in need or funding integration projects.

Portugal is home to approximately 800,000 migrants, nearly double the figure from a decade ago. Despite their significant economic contributions, migrants often face precarious employment and lower wages. Many struggle to secure housing, leading to homelessness or overcrowded living conditions, exacerbated by soaring rents and property prices, partly due to a tourism boom in cities like Lisbon and Porto.

To qualify for the existing golden visa program, applicants must transfer between 250,000 to 500,000 euros, depending on their chosen investment. Leitao Amaro mentioned that the government has yet to determine the investment threshold for the new solidarity visa but stressed it would need to be lower than other options to incentivise investor participation. (Source: ET)

Portugal is planning to adapt its golden visa program to enable affluent foreigners seeking residency rights to invest in affordable housing for locals or accommodation for migrants, according to Antonio Leitao Amaro, the cabinet affairs minister. Referred to as a solidarity visa, this new initiative will complement the existing program, which has granted non-EU nationals the right to reside in Portugal since 2012 in exchange for investment. The golden visa program has attracted over 7.3 billion euros ($7.94 billion) in funds since its inception. However, critics argue that it has exacerbated housing issues and has undergone multiple revisions in recent years. To obtain a visa, purchasing real estate, previously a favoured route for foreigners is no longer an option. Instead, they can invest in funds, contribute to cultural or research initiatives, or create jobs. We haven't altered the current scheme but have introduced these two forms of solidarity visa, Leitao Amaro stated in a telephone interview following the Portuguese government's announcement of its new plan, which includes tightening certain immigration regulations. One form will encourage foreigners seeking residency to invest in affordable homes for local purchase or rental, while the other will focus on constructing accommodation for migrants in need or funding integration projects. Portugal is home to approximately 800,000 migrants, nearly double the figure from a decade ago. Despite their significant economic contributions, migrants often face precarious employment and lower wages. Many struggle to secure housing, leading to homelessness or overcrowded living conditions, exacerbated by soaring rents and property prices, partly due to a tourism boom in cities like Lisbon and Porto. To qualify for the existing golden visa program, applicants must transfer between 250,000 to 500,000 euros, depending on their chosen investment. Leitao Amaro mentioned that the government has yet to determine the investment threshold for the new solidarity visa but stressed it would need to be lower than other options to incentivise investor participation. (Source: ET)

Real Estate

30 Jul 2026

AI: The New Recruit

From getting ideas to evaluating designs, presenting concepts to clients and tracking projects, artificial intelligence (AI) is helping architects work better and faster.“AI allows architects to spend more time doing what only they can do: think critically, synthesise complexity and design with intent,” says Dikshu C Kukreja, Managing Principal, CP Kukreja Architects. “Every minute reclaimed from repetitive processes can be invested in creativity, contextual understanding, interdisciplinary collaboration and innovation – the qualities that define meaningful architecture.”To read the ..

Real Estate

30 Jul 2026

Redevelopment 2.0

In 2017, Mumbai identified 160,000 ageing buildings due for structural audit. Close to half of these were in the Western Suburbs. Redeveloping the oldest and structurally weakest of these would help unlock new housing, much needed given the city’s growing population density and constant developed area of 437.7 sq km. At 30,600 people per sq km in 2024, Mumbai’s density was almost thrice that of Gurugram, and 60 per cent higher than Bengaluru’s.Essentially, Mumbai’s realty market has demand. It has capital. It has realty development potential.Fast forward to 2026. Mumbai has 1,094 regis..

Technology

30 Jul 2026

Cost intelligence will become a strategic contributor to project success

As India's construction industry accelerates its digital transformation, integrated platforms, AI and connected data are becoming essential to improving cost certainty, project efficiency and sustainability. Ravi Kumar, Sales Director – India, RIB Software India, shares how digital workflows are reshaping project planning, commercial management and decision-making across the construction value chain.India's construction sector is embracing digital technologies at an unprecedented pace. From your perspective, what are the biggest shifts driving this transformation and how is RIB Software enab..