More than 60% of Golden Visas in Portugal have expired

More than 60% of Golden Visas in Portugal have expired, which can prevent entry and exit from the country.

Renewal of Residence Permits for Investment Activity (ARI), known as Golden Visas, is mandatory every two years and the Foreigners and Borders Service (SEF) has 19,000 requests for renewal of Residence Permits for Investment Activity (ARI) pending.

According to the newspaper “Público”, many visa holders are prevented from leaving or entering Portugal despite the SEF having extended the admissibility period.

The admissibility of documents has been extended until December 31, 2022”, SEF says.

However, hundreds of holders of expired Golden Visas are prevented from leaving or entering the country, as these expired documents are not accepted at international airports.

Between October 2012 and September 2022, 11,180 ARIs and 18,368 residence permits were granted to their relatives in the last decade.

A total of 29,548 visas were given and global investment in Portugal, mostly in real estate, reached 6,564 million euros.

GOLDEN VISAS

Created in 2012, the Portugal Golden Visa is known as one of the most attractive in the world.

The Portugal Golden Visa was created to boost foreign investment to benefit the Portuguese economy.

The program allows non-EU citizens to qualify for a residency permit and eventually a passport in the country through investments.

With a Portugal Golden Visa, you can live in Portugal and travel within most European countries without an issue.

However, you do not need to live in Portugal to be eligible for this visa. All you need to do is to stay in the country for at least 7 days in the first year and 14 days in the subsequent years.

You obviously also need to engage in an investment, which we will get to.

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