Portugal Plans Solidarity Golden Visa to Boost Social Integration

In a bid to enhance social integration and provide public benefit, Portugal’s authorities have announced plans to introduce the Solidarity Golden Visa. This new initiative, though not yet enacted or scheduled for implementation, aims to grant residency to affluent internationals who make a minimum investment of €250,000 in social projects within Portugal.

The proposed investments under this program will be directed toward infrastructure and equipment to aid in the integration of immigrants facing vulnerable circumstances. Luís Montenegro’s government explained the purpose of the initiative in a statement to the press, emphasizing its goal of mobilizing capital for social purposes.

“[The objective of the new golden visa is to] Create an instrument for channeling private capital for social investment in immigrant integration projects. Residence Permits for Social Investment – a change in relation to the scope of Residency Permits for Investment (ARI), to include investments made in equipment and reception infrastructure, integration projects and support for immigrants in vulnerable situations,” the statement from Luís Montenegro’s Executive elaborated.

The Solidarity Golden Visa signals a shift from the traditional Golden Visa Program, which has historically offered residency to wealthy foreigners through a range of investment options. Among these, real estate investment had been the most popular choice. However, due to its impact on Portugal’s housing crisis, the real estate route was abolished last year following the enactment of the “More Housing” bill.

The discontinuation of the real estate option redirected focus to other investment categories under the Golden Visa Program, such as cultural production, investment funds, scientific research, and the creation of ten jobs.

The new social investment-focused option is expected to bring substantial benefits to Portugal, but a definitive timeline for its implementation has not been established.

António Leitão Amaro, Portugal’s Minister of the Presidency, outlined the proposal in June, framing it as part of the broader Action Plan for Migration aimed at modernizing migration and integration policies. “We want ARIs [Residence Permits for Investment] to be mobilized and used to finance investment in equipment and infrastructure to support the reception and integration of immigrants,” Amaro stated.

For the wealthy individuals seeking residency, Portugal’s Golden Visa Program continues to offer significant advantages. Chief among them is the freedom of movement within the European Union and Schengen Area. Residency acquired through this program provides beneficiaries with extensive mobility across EU member states and Schengen countries.

Moreover, Portugal boasts one of the world’s most powerful passports, ranking seventh globally according to the Passport Index by VisaGuide.World. This ranking highlights the strength of Portugal’s passport, allowing visa-free travel to 105 countries and passport-free access to 43 others.

The Solidarity Golden Visa represents Portugal’s ongoing efforts to address pressing social issues while maintaining its appeal to international investors seeking residency and its associated benefits.

By fLEXI tEAM