The migration agency will resume, on January 15, the residence authorization processes, with family reunification, for people who have invested at least 500 thousand euros in Portugal.
The Integration, Migration and Asylum Agency (AIMA) will reopen, from January 15th, the process of regularizing residence permits for investors who invested resources in Portugal through Golden Visas. According to a statement sent in recent days to citizens who fall under the Investment Residence Authorization Regime (ARI) and released on the agency's portal, it will be possible to present documentation online, including domiciles. AIMA's promise is that decisions on requests will be made within a maximum of 90 days from the date of submission of the documents.
“Fortunately, the Portuguese Government has reopened investor services. We are talking about people who have donated at least 500 thousand euros (R$3.2 million) to the country. There are those who have been waiting for their residence permit for three years”, says Flávio Peron, CEO of Start! Go Global. According to lawyer Fábio Pimentel, from the CPPB Law firm, since these investors invested resources in Portugal, the residence authorization processes were in the ‘under analysis’ status. “We are talking about thousands of people who believed in the Government’s promises and did not receive the return within the expected timeframe,” he adds.
These investors include those who purchased real estate, those who invested in equity funds and those who acquired or opened companies with at least 10 employees. “These people have their money stuck in Portugal without receiving any compensation, such as a residence permit,” says Pimentel. For Flávio Peron, by resuming the process of granting housing to Golden Visa holders, Portugal wants to attract new investors.
In 2023, Golden Visas for the purchase of properties in large urban centers and coastal areas were abolished, but the Government maintained investments in funds, in the productive sector and in the recovery of homes in the interior of the country and historic properties. “Portugal needs to attract productive investments, and Golden Visas are a good instrument”, points out solicitor Elisa Hachem. “These investors are also important for revitalizing smaller cities, where there are many abandoned and destroyed properties,” he emphasizes.
Costs and facilities
According to the rules defined by AIMA, investors will be able to electronically choose the service point where they will carry out their biometrics and submit the necessary documents. They will also have the right to define the day, month and time to be received at the agency's offices. It is important to note that some of those who applied for Golden Visas do not live in Portugal, as there is an obligation to spend only seven days per year in the country. Therefore, AIMA will allow the process, up to the collection of investors’ biometric data, to be conducted by legal representatives in Portugal. All scheduling information will be confirmed via email.
According to the 2024 tables, AIMA will charge 605.10 euros (R$ 3,873) to receive documents from each investor. The residence permit, when issued, will cost R$6,045.20 (R$39,000) per unit. “These are high values compared to what is charged in other residency processes”, acknowledges Elisa Hachem. In the case of citizens of the Community of Portuguese Language Countries (CPLP), the fee is 56.80 euros (R$ 364). For other nationalities, the cost is 398.80 euros (R$2,553) per person.
Fábio Pimentel recalls that investors who did not want to wait for AIMA's goodwill resorted to the courts to obtain a residence permit. “One of my clients invested 1 million euros (R$6.4 million) in Portugal. He went to court because he got tired of waiting for AIMA,” he says. There were cases of investors who were counting on a quick residence permit to enroll their children in Portuguese schools, including universities, but ended up giving up due to the delay in obtaining official documentation. “The State failed to deliver what it promised,” he emphasizes.