Spain’s Exit Creates a Surge in Demand

Spain’s Golden Visa program was once considered the most accessible in Europe. With a minimum property investment of €500,000, investors could get a residency permit, visa-free Schengen access, and a clear pathway to citizenship.

Though great for investors, locals thought otherwise. Spain has been suffering from rising house prices since 2014 due to foreign real estate investors wanting a Golden Visa.

Because of this, Spain made a controversial decision to end the scheme. The end date will be effective from April 3rd, 2025, which has ignited a massive rush for investors.

With such a close deadline, processing times will undoubtedly increase, and many investors applying late will miss out on the opportunity. And that’s why many are looking elsewhere.

Portugal Ramps Up, Digitally and Strategically

With Spain closing its doors, Portugal has begun accelerating forward. Despite a massive backlog of 50,000 applicants, the Portuguese government has taken decisive action to speed up the process. The AIMA has now transitioned to a fully digital Golden Visa application process.

By moving away from the traditional paper applications, biometric scheduling has sped up (now set automatically within 30 to 90 days), investors can now submit documents in English, Spanish, or French, and generally, it’s streamlined the process to residency.

Why Portugal Over Spain? It’s Not Just About Timing

Credits: Supplied Image; Author: Client;

1. Low Application Costs

Spain’s soon-to-be-stopped Golden Visa program required a minimum €500,000 real estate investment.

However, with Portgual, there are far more affordable pathways, especially through cultural contributions or fund investments.

The minimum capital required to qualify for the Portuguese Golden Visa is currently €168,000. Holborn Assets offers a range of donation and investment options to suit different investor needs.

These lower thresholds make Portugal a very cost-effective EU residency option, many of which investors will take.

2. Popular with U.S. Citizens

Whether this is because of political uncertainty, a desire for global mobility, or just the appeal of a European retirement, the Portuguese Golden Visa is popular among Americans.

In 2023 alone, more than 560 US citizens applied for the program, more than Chinese and British applicants, showcasing its popularity among those in the West.

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We can imagine it’s because of the country’s high English fluency, world-class healthcare and mild tax incentives.

3. Strong Path to Citizenship

Beyond temporary residency, Portugal’s Golden Visa program offers a clear and straightforward path to EU citizenship.

After just five years (with a minimum stay requirement of 7 days per year), applicants can apply for permanent residency or full citizenship.

Just for comparison, the Golden Visa Program offered by Spain had a much longer path to citizenship. Before it ended, it was 10 years.

Urgency & Opportunity: A ‘Golden’ Moment to Act

Portugal’s Golden Visa program is still open for applications. However, it’s about to get uncertain.

On March 11, 2025, Portugal’s government collapsed for the third time in just three years. This has sparked a lot of questions about the future of the program.

From now (March) till July 2025, the country will enter a “caretaker” phase. Therefore, it’s very unlikely there will be any policy changes.

However, we can’t say the same for the long term. Anything can happen to the program and it depends on what party is elected.

For example, if the Democratic Alliance (AD) gain control, they could reinstate the popular real estate Golden Visa investment. On the other hand, if the Socialist Party (PS) regains control, further restrictions could happen, like what they did with the NHR tax regime.

Because of this, individuals interested in investing their way into Europe should act fast. Even if they get accepted before July, Portugal is known for their grandfathering clauses, so they’ll be protected under today’s terms.

As Jason Swan, Golden Visa expert at Holborn Assets, puts it:

“Investors will be protected under the laws in effect at the time of their application. Any future changes will not apply retroactively, as we saw in 2023 when the program was initially set to close. If you are considering the Golden Visa, it is best to proceed before any potential law changes, as they may not be favourable.”

In Times of Change, Timing Is Everything

With Spain’s Golden Visa ending and the uncertainty of the Portugal Golden Visa Program in the future, investors interested in European residency and citizenship need to act fast.

Now is a smart time to start gathering insights, asking questions, and exploring qualifying investment opportunities for 2025 through Portugal’s Golden Visa Program.

Our exclusive webinar, hosted by Jason Swan, a Golden Visa specialist at Holborn Assets, will explore these changes and offer expert guidance for those ready to take the next step.

Live Webinar

If you’re considering Portugal’s Golden Visa Program, you can signup for a live Q&A webinar with an expert from Holborn Assets that will answer all your questions. Click the link HERE to discover when our next session is happening and secure your spot! The webinar will cover:

  • Golden Visa Basics – how to qualify, who can be included
  • Application timeline and process, latest updates with AIMA
  • Latest investment criteria – March 2025
  • How to qualify with 349,000 EUR – this exclusive offer includes an upfront return and an exclusive loan offering to bridge the gap to reach the 500k minimum investment.
  • Tax Breaks / NHR 2.0
  • Most Popular Investment Picks – March 2025
  • Live Q&A for all questions

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