Portugal's Cultural Heritage Golden Visa Option Sees 165% Investment Surge in 2024
Portugal's Cultural Heritage Golden Visa Option Sees 165% Investment Surge in 2024
The Cultural Heritage option of Portugal’s Golden Visa Program attracted nearly €12 million in investments in 2024, marking an impressive 165% increase from the €4.5 million recorded in 2023, Schengen.News reports. This surge follows Portugal’s decision to terminate the real estate investment route, leading to a significant shift in investor interest.
Key Takeaways
- Nearly €12 million was brought to Portugal in 2024 through the Cultural Heritage option of the Golden Visa Program.
- 2024’s figures show a significant increase compared to the €4.5 million registered in 2023.
- Since its introduction in 2020, investments through this route have reached approximately €22.15 million.
Portugal’s Residency-by-Investment scheme was initially launched in 2013, but the Cultural Heritage option was officially introduced in 2020. This option allows foreign investors to contribute financially to projects that preserve Portugal’s rich cultural heritage in exchange for residency rights.
According to a report from Imi Daily, legal expert Madalena Monteiro of Liberty Legal, who secured the statistics from Centro Português de Fundações (CPF), noted that this investment pathway has experienced remarkable growth in 2024-2025, particularly after the abolition of the real estate investment option.
Data from the first quarter of 2025 alone highlights that this route has already generated €850,100 in investments, funding a total of 38 cultural projects across Portugal.
Acceleration of Golden Visa Applications Processing
In February 2025, Portuguese authorities announced plans to expedite the processing of Golden Visa applications. The Agency for Integration, Migration, and Asylum (AIMA) has initiated a transition to a digitalized application system to reduce delays. This modernization will ensure that biometric appointments are scheduled within 30 to 90 days after online application submissions.
Additionally, Lisbon-based immigration lawyer Bettino Zanini informed Bloomberg News that AIMA would now accept untranslated documents in languages such as Spanish, French, and English. However, he also revealed that nearly half of his 50 Golden Visa clients have taken legal action against the Portuguese government due to prolonged processing delays. Successful lawsuits could compel AIMA to process applications in as little as three months instead of the usual three years.
Portugal’s Golden Visa Program Remains an Attractive Investment Option
Despite the removal of the real estate investment route, Portugal’s Golden Visa Program continues to draw significant international interest. Since its inception in 2012, the program has contributed over €7 billion ($7.2 billion) to the country’s economy.
For more details, visit the sources:
- Schengen.News: www.schengen.news
- Imi Daily: www.imidaily.com
- Bloomberg News: www.bloomberg.com
Disclaimer: This article is for informational purposes only and does not constitute legal or financial advice.
