Portugal Hits Record High of Over 1 Million Foreign Residents in 2023, Reports Get Golden Visa

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program increased from 216 in 2022 to 567 in 2023, with a rise of 162.5%. The UK, which wasn't even among the top countries in 2022, has shown an uptick in demand for the Portugal Golden Visa in recent years. With 234 investors, the UK has now become the third-largest nationality in the program.

Portugal Sees a 33.6% Rise in Foreign Residents

Portugal experienced a rise in the number of foreign residents in 2023—a 33.6% increase over the previous year. The overall number of foreign residents at the end of 2023 was 1,044,606, which was the most significant rise in the country's recent history.

The growing interest in Portugal is no coincidence. In June 2024, the Portuguese Prime Minister announced Portugal's Action Plan, which included significant changes to immigration policy. This plan addressed four critical areas: immigration regulation, attracting foreign talent, immigrant integration, and institutional reorganization. In addition to these changes, several updates were also made to residency and citizenship procedures.

Updates on Portugal Citizenship Process: Online Applications & Shorter Waiting Period

Portuguese authorities have launched a new online system for citizenship applications, which was introduced by the Institute of Registries and Notaries (IRN). This platform benefits from AI and aims to automate the application process, significantly shortening the long bureaucratic procedures and waiting periods. The initiative is expected to improve the immigration services' processing capacity by 50% and to offer a more convenient process for applicants.

Portugal has updated its Golden Visa program, shortening the path to citizenship. The waiting time to apply for Portuguese citizenship through the Golden Visa program is five years. Previously, the five-year waiting period began from the date the first residency permit was issued. With the update, the five-year period will start from the date of the initial residency application, regardless of when the application is approved. This change is expected to expedite the process for Golden Visa holders.

Source: https://getgoldenvisa.com/industry-insights/portugal-breaks-recods-with-one-million-residents

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