Portugal Golden Visa Delays to Reduce Due to New Collaboration

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Portugal Golden Visa delays have been a recent frustration for HNWIs applying for Portuguese Residency by Investment.

However, we welcomed the replacement of the ineffective SEF (Serviço de Estrangeiros e Fronteiras) with the more streamlined Agência para a Migração e Asilo (AIMA). And recent developments have underlined their commitment to speed up the Portuguese Golden Visa application process.

A Potted History of the Portugal Golden Visa

The Portuguese Golden Visa dates back to 2012. It was a government initiative to launch an economic recovery. And it has done just that by raising over €7 billion for the country, as well as boosting a flagging real estate industry.

These days, the chance to get a Portugal Golden Visa via property investment is no longer available.

Yet the enduring popularity of this European Residency by Investment, with visa-free access to the Schengen Area, has had a knock-on effect. Namely, Portugal Golden Visa delays that mean processing time is 24+ months.

AIMA and OSAE Unite

On Tuesday, March 5, 2024, AIMA signed an agreement with the Ordem dos Solicitadores e dos Agentes de Execução (OSAE).

This collaboration with the Order of Solicitors and Execution Agents establishes “cooperation in the investigation of processes for granting extensions of stay, residence permits and renewals of residence permits.”

Pending Portuguese Golden Visa processes run into the hundred of thousands. This bureaucratic work is perfectly suited to legal experts. Nevertheless, they will receive training from AIMA which will enable them to help clear the backlog systematically.

The president of OSAE, Paulo Teixeira insists that Ordem dos Advogados (OA) “must be involved in this process.” Discussions are already under way to enlist the services of this Bar Association too.

With barristers and solicitors working side by side, the Portugal Golden Visa delays are being addressed in the best possible way.

The Green View on the News Regarding Portugal Golden Visa Delays

Jon Green is our Portuguese Residency by Investment expert. “2023 was a dark year for the Portuguese Golden Visa with authorities considering its termination,” begins Green.

“2024 has been a whole lot brighter”, he continues. “AIMA is much more proactive than SEF in dealing with problems largely caused by the level of interest in Portugal from investors.”

How to Secure a Portuguese Golden Visa

While Portuguese lawyers will accelerate the progress of Portugal Golden Visa applications, you’re going to need an investment migration specialist to advise you. RIF Trust can help guide you every step of the way. So, don’t delay and contact us today.