Portugal Golden Visa applications reached a historic milestone in 2023. The most recent report, published in September 2024 by AIMA (Agency for Integration, Migration, and Asylum), highlights why Portugal continues to attract international investors and residents. Drawing on the latest data released by the Portuguese government and Get Golden Visa’s research throughout the year, key developments are analyzed, offering insights into the trends shaping Portugal’s growing international community and investment landscape.
Americans’ Interest in Portugal Golden Visa Applications Increased in 2023
Portugal Golden Visa applications as families have increased significantly, from 1,588 family members in 2022 to 2,901 in 2023, according to data from Get Golden Visa‘s study. In 2023, there were 1,554 individual Golden Visa investors, up from 1,281 in 2022.
The growing interest in Portugal Golden Visa investments from the United States and the United Kingdom, which indicates a noticeable increase in demand for the program, is one of the factors contributing to this expansion.
Which countries’ citizens have shown the highest demand for Portugal’s Golden Visa?
In 2022, there were 216 Golden Visa investors from the United States; in 2023, there were 567, representing a 162.5% rise in only one year.
With 234 investors, the UK became the third-largest nationality investing in the Portugal Golden Visa program in 2023. In fact, the UK was not among the top nationalities in 2022, but it experienced a spike in interest in Golden Visa in 2023.
Foreign residents’ number picked in 2024
Compared to 2022, the foreign resident population in Portugal experienced a record increase of 33.6%. By the end of 2023, the total number of residence permit holders had risen to 1,044,606 foreign citizens, marking the highest annual growth in Portugal’s recent history.
Changes in the Number of Foreign Residents in Portugal
With 35.3% of all foreign residents in Portugal, the Brazilian community continues to be the largest group of foreign residents, according to government data. This is part of an ongoing pattern that highlights Portugal’s close linguistic, cultural, and historical ties to Brazil. Portugal is becoming a more popular destination for people from South America and Africa, as seen by the rise of foreign residents from these regions in addition to Brazil.
Geographic Spread of Foreign Residents
The foreign population of Portugal remains largely concentrated along the coast, particularly in the districts of Lisbon, Faro, and Setúbal. These regions collectively account for 63.5% of the country’s foreign population, totaling 663,699 residents.
Continued Growth in Portugal’s Residency and Investment Trends
2023 marked a pivotal year for Portugal, highlighted by a rise in foreign resident numbers and a notable increase in Portugal Golden Visa applications. Location fluidity emerged as a key trend, reflecting a growing inclination among individuals to seek secure investment opportunities amid geopolitical uncertainties and economic challenges. Portugal has positioned itself as a top destination, driven by its appeal as a secure, high-quality lifestyle option with access to the EU market—especially significant in the post-Brexit era.
The trend of acquiring additional residency or citizenship through investment has transitioned from being a luxury for the ultra-wealthy to a more widely accessible option, gaining traction over the past decade. Data from Get Golden Visa and official sources confirm a corresponding increase in interest, showcasing Portugal’s enduring attractiveness to investors, families, and individuals seeking residency opportunities.
Interest spans across various residency pathways, including the D7 and D8 visas, in addition to the Golden Visa program. This heightened demand aligns with findings from the report published by AIMA, further emphasizing Portugal’s status as a preferred destination for residency by investment.