Key Takeaways
Thirty-five investors participating in Portugal’s Golden Visa program have chosen to file a lawsuit against the Agency for Integration, Migration and Asylum (AIMA) due to delays in the issuance of residence permits.
Lawyer Catarina Zuccaro stated that these Golden Visa investors are experiencing disregard in their treatment. Some applicants have been waiting for their residence permits for more than four years.
At least 35 investors from Portugal’s Golden Visa Program have initiated a lawsuit with the Tax Administrative Court in Lisbon, seeking the issuance of residence permits amid persistent delays. Some of these investors report waiting four years for their permits, prompting them to take legal action against the Agency for Integration, Migration and Asylum (AIMA), according to Schengen.News.
Lawyer Catarina Zuccaro stated to Politico that these investors are being treated with contempt.
Some investors, who have each invested six million euros (R$ 36 million) in purchasing and renovating old properties in Lisbon and Porto, are feeling neglected in their treatment. Despite paying taxes in the country and incurring expenses for property maintenance, they are unable to sell these properties.
Lawyer Zuccaro explained to Politico that Golden Visa investors facing delays from AIMA are expressing concerns that the lack of documentation is negatively impacting their families, particularly as their children are unable to pursue studies at Portuguese universities.
She noted that the Administrative Court has previously rejected lawsuits against AIMA filed by Golden Visa applicants, citing a lack of urgency in issuing these documents since many do not reside in Portugal full-time and only spend a few days a year in the country.
However, Zuccaro indicated that “the perspective is beginning to shift.”
Portugal’s Golden Visa Program allows foreigners to obtain residency in exchange for financial investments. The most popular option within this program was real estate investment, which required a minimum of €500,000 for property purchases in Portugal, though this option is no longer available.
Hundreds of Applicants Left in Limbo Due to
Excessive Waiting Times
The prolonged visa processing times for foreigners interested in Portugal’s Golden Visa Program have led some applicants to regret their investment decisions aimed at benefiting from the Residency by Investment Program.
Additionally, earlier this month, immigration lawyer Bettino Zanini told Bloomberg that approximately half of his 50 Golden Visa clients have taken legal action against Portugal due to excessive wait times.
When successful, these lawsuits can compel AIMA to render a decision on a Golden Visa application in about three months, rather than the typical three years, according to Zanini.
As reported by Global Citizens Solutions, in September 2024, the Agency for Integration, Migration and Asylum (AIMA) approved 2,901 residence permits for investment activities.
