US and UK Investors Drive Record 2,685 Portuguese Golden Visas
Portugal issued a record 2,685 Residence Permits for Investment in 2025, a 29 percent surge over the previous year despite the government closing its popular property purchase pathway. Foreign investors and capital funds adjusted swiftly to the restructuring, routing capital into alternative financial vehicles to secure European residency.
Non-Real-Estate Funds Push Cumulative Grants Past 18,000
US nationals claimed 535 permits in 2025, taking the largest share of golden visas for the fourth consecutive year, while British citizens received 252. Data from the Agency for Integration, Migration and Asylum shows applicants from China secured 392 visas, alongside recipients from Türkiye, India, Russia, Brazil, and South Africa. Total approvals under the scheme have reached 18,254 since its inception in October 2012, with 5,536 issued after the real estate option ended. Applicants now qualify by placing at least €500,000 into non-real-estate funds or minimum investments of €250,000 into cultural heritage projects, which generated €12 million in capital in 2024.
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The record figures follow the Portuguese government’s October 2023 overhaul of the program, which removed real estate acquisitions to address national housing shortages.
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