Golden Visa Update - Improvements in the rate of approvals

Golden Visa back on track

 

The year of 2015 was particularly challenging  for the Golden Visa programme and for the Portuguese Immigration services SEF.  The changes introduced by several new regulations in the qualifying investments and on the internal procedures to be undertaken by the authorities gave rise to serious delays in the approvals of new applications and on the renewals.

However, a series of measures put in place by SEF over the last few months specifically designed to tackle these difficulties have started to show clear results and the problems are now being overcome at a rapid pace.

We at NDR have witnessed these very significant improvements, particularly since January 2016.   We have received numerous approvals for our clients over the last few weeks and we are receiving multiple daily emails from SEF with client approvals, requests for document and other correspondence.

In addition,with the introduction of the measures mentioned above SEF is aiming at having the issue of the delays resolved around March/April and at returning to the previous approval time frames of 2 to 3 months. 

 

In this respect, we are also doing our part in the improvement of the situation by complying with the administrative requests from SEF and by making a big effort to follow entirely their guidelines about submission of applications and biometrics. It is of the utmost importance that the applications are submitted properly completed and in accordance with the applicable regulations.

Although we are still taking a cautious approach on the communication with both our clients and partners, the positive signs are very clear and the rate of approvals is increasing rapidly. 

Being such an important programme to Portugal, the Golden Visa is now back on track and remains one of the best investor residency programmes in the world. 

Francisco Barata Salgueiro

Senior Partner