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Portugal’s Golden Visa Program saw a remarkable increase in investments through its Cultural Heritage option in 2024, generating approximately €12 million. This marks a 165 percent rise from the €4.5 million recorded in 2023.
The growing demand for this particular investment route has become especially evident following the Portuguese government’s decision to eliminate the real estate investment option from the Golden Visa Program.
Although Portugal’s Residency-by-Investment scheme has been in place since 2013, the Cultural Heritage option was officially introduced in 2020. The Golden Visa Program grants residency to wealthy foreign investors who choose from various financial investment options, with the Cultural Heritage pathway specifically designed to support the preservation of Portugal’s historical and cultural assets.
Since its inception in 2020, the Cultural Heritage option has accumulated a total investment of approximately €22.15 million, as indicated by data from Imi Daily.
Madalena Monteiro of Liberty Legal, who obtained these statistics from the Centro Português de Fundações (CPF), noted that cultural investments witnessed an extraordinary surge in 2024-2025, a trend that she attributed to the removal of the real estate investment option.
The latest report further reveals that in the first quarter of 2025 alone, the Cultural Heritage route has contributed €850,100, funding 38 different cultural projects across Portugal.
Portuguese authorities have also announced efforts to streamline the processing of Golden Visa applications. In February, the Agency for Integration, Migration and Asylum (AIMA) disclosed plans to transition from a paper-based system to a digitalized process, aiming to reduce application wait times significantly.
As part of this modernization effort, AIMA will begin scheduling biometric appointments within 30 to 90 days following the completion of an applicant’s online submission. Additionally, Lisbon-based immigration lawyer Bettino Zanini explained to Bloomberg News that the agency will now accept untranslated documents in Spanish, French, and English.
Zanini also pointed out that nearly half of his 50 Golden Visa clients have filed lawsuits against the Portuguese government due to prolonged application delays. He noted that when successful, these legal actions can compel AIMA to issue a decision within approximately three months instead of the usual three-year wait.
Despite the removal of the real estate investment route, Portugal’s Golden Visa Program remains one of the most sought-after residency-by-investment programs in Europe. Since its launch in 2012, the initiative has generated over €7 billion ($7.2 billion) for the country.
By fLEXI tEAM
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