Before the year ends, we wanted to bring you the latest news on Portugal’s Golden Visa program. Here’s the latest on the status of Golden Visa applications and changes to expect.

No More Long Queues for AIMA

Last month, the government committed to concluding all pending visa applications by June 2, 2025. With a record number of applications being assessed in November by AIMA (Agency for Integration, Migration and Asylum), the handling of administration finally seems to be heading in the right direction. For new applications, we now estimate only a 6-9 month wait time from the date of application to visa in hand.

In addition, the law changed not too long ago, now starting the the 5-year clock to citizenship when you apply for the visa, not when you receive it. This is great news for those not looking to move to Portugal immediately, as no matter how long it takes to get the visa, the passport application will be in no more than 5 years´ time.

Applications for US Citizens up 300% Since the Election

The highest demand for Portugal´s visas has been no doubt come from the US over recent years, but we have seen a significantly increased number of applications since November 5. The majority of Americans have reported that they are looking for a “plan B” for the future, in addition to the usual perks that attract people to Portugal.

As you may know, having a Portuguese passport allows holders to live in any EU country, effectively having 27 passports issued all at the same time. This provides obvious flexibility as a backup or retirement plan, further down the line.

Americans Using Self-Directed IRA to Fund GV Investments

The uptick in applications from the USA has also increased the desire to utilise self-directed IRAs as a means to fund the investment here in Portugal.

For any questions regarding the use of US retirement accounts for the Golden Visa, I can direct you to a US based firm to assist as we begin the application process. There is a continued demand from US clients on this topic, allowing them to keep the investment funds within the retirement accounts, for US tax purposes.

Borrowing Instead of Investing at 168,000 EUR

As an alternative to the 250,000 EUR government donation, there is an increasing number of applications for financing, from clients not wanting to tie up their own capital. Last month, it became possible to lend the 500,000 EUR at total cost of 168,000 EUR (4.8% pa).

Although still a cost as opposed to a profit, for those whose accessible capital is invested elsewhere and generating high returns / tied up, the thought of keeping it where it is and paying a lower interest rate to someone else, can make sense.

To sum up, 168,000 EUR is the interest payable on a loan of 500,000 EUR for seven years. Furthermore, the lender bears the investment risk, returns/losses, rather than the investor.

As of December 2025, these are the current capital thresholds to qualify:

Apply for the Golden Visa in 2025 Webinar

Next year is set to be the highest year on record for the Portugal Golden Visa. Get ahead of the crowd, with all the facts and the latest news on January 15, 2025 at 5:00 pm Lisbon time.

The following topics will be covered:

Golden Visa Basics – how to qualify, who can be included

Application timeline and process, latest updates with AIMA

Investment Criteria – January 2025

Tax Breaks / NHR 2.0

Most Popular Investment Picks – January 2025

You will also have a chance to fire any questions at me during a live Q&A. To find out more and/or register please click here. 

As an early Christmas present to ease you into life in Portugal, but also ensuring that you’re fully prepared when the time comes to apply for citizenship, I would also like to offer a bonus:

All new Golden Visa applications will come with FREE Portuguese language lessons for the family

This includes:

• Complimentary, Full Portuguese Course tailored to your needs and schedule.
• Qualified instructor to guide you through every step.
• Flexible learning options—12- or 24-week course to pass A2 level Portuguese
• Cultural insights to help you connect with your new community.

The offer will be valid for all applications submitted until 31^st March 2025. Please use the code “XMASLESSONS” during our initial meeting / appointment booking notes to apply.

Don’t forget to register for the webinar in January, but If you´re unable to attend, or would like to begin the process beforehand, please ask me for availability, alternatively, you can schedule a meeting with me here.

I hope you found this update helpful and I look forward to seeing you in the webinar.