Portugal Golden Visa 2025 Approvals Reach Record 2,685

Portugal granted a record 2,685 golden visas in 2025, surpassing its previous peak even two years after stripping property purchases from the qualifying pathways. Foreign investors shifted capital toward alternative routes like investment funds and cultural projects, driving a 29 per cent increase over 2024 figures detailed in the annual migration report from the Agency for Integration, Migration and Asylum (AIMA).

US Nationals Lead Approvals as Alternative Investment Routes Surge

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United States citizens secured 535 permits, leading national applications for the fourth consecutive year, followed by 392 from China and 252 from the United Kingdom. Turkish, Indian, Russian, Brazilian, and South African nationals filled out the remaining top tiers of the annual data published by outlets Público and ECO.

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The surge follows the October 2023 government overhaul that abolished property purchases to ease a domestic housing crisis, pushing capital into approved non-real-estate funds and heritage projects like the cultural pathway that brought in €12 million during 2024.

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