Clients have been asking when will they get their pre-approval, and biometric appointment.
The latest update is that those clients who submitted in the beginning of December are getting pre-approved.
SEF has been working continuously (albeit slowly). The prove is the monthly approvals of Golden Visa. SEF releases this information on their website every month.
In this newsletter, we want to give you a snapshot on the Golden Visa trend.
Please note that this statistic is the final approval of Golden Visa (after your biometrics), and so you are probably seeing the trend of the second half of 2020 to first half of 2021.
Portugal Golden Visa Approval
From January – Aug 2022, the top nationalities of Golden Visa investors are
- United States – 135
- China – 134
- Brazil – 64
- India – 44
- Turkey – 32
The top routes of investment are:
- Property – 637
- Fund – 146
- Capital transfer – 18
- US citizens have surpass Chinese to the number one position of Golden Visa investors (note again the statistics we are looking into are those applications made from late 2020 – early 2021). We shall be seeing this trend continues well into 2022, with even a much stronger prominence of US citizens.
- the Fund route is catching up, to represent around 20% of the investment, while property remains to be the most popular options. From our experience, we should be seeing a surge on fund investment (from those applicants in the second half of 2021). This will show in the statistics that will be releasing later this year to or beginning of 2023!
Portugal Golden Visa approvals in 2022 so far
We have charted the SEF approvals by months below:
Approval rate is speeding up (good news!) compared to last year. From January to August 2022, SEF has already approved more than 800 cases, where only 865 cases were approved in the whole year of 2021!
10 Years of Portugal Golden Visa
Overall, from 2012 to August 2022, there are over 11,060 main applications approved together with over 18,000 family members.
Let’s take a look at the yearly approval numbers in Portugal Golden Visa for the past 10 years.
The average number of approvals (disregarding the first 2 years when the program was just launched) was above 1,200 approvals. However, we are seeing the number of approvals have been decreasing since 2018 with a significant drop in 2021 (due to Covid), causing the back log and the immensely long wait time nowadays.
The good news is that SEF is getting more resources. According to the news, SEF has increase 116 post across its 26 offices across the country, starting from September 12, 2022.
We hope this will bring down both the pre-approval and the biometric waiting time.
The Portugal Golden Visa is getting ever more popular
There are recent changes to other countries’ immigration by investment program lately. All programs are tightening their regulations.
- Greece: Golden visa minimum investment threshold increases from 250k to 500k (effective by January 2023)
- Turkey: Golden visa minimum investment threshold increases from 250k to 400k
- UK: Tier 1 investment visa has ended
Although we don’t see them as direct competition to Portugal Golden Visa (we have many Turkish citizens applying the Portugal Golden Visa, and the same can be said for Greece and British), we still anticipate the Portugal Golden Visa will become even more popular.
For one reason, there is a clear trend is that the direction of the laws for this type of program will only get restrictive. It is time to take actions, without delay, to enjoy the benefits and the peace of mind that a second passport would bring.
- A Look into 2022 Total Portugal Golden Visa Approvals
- 2023 New Regulations on Portugal Golden Visa
- Portugal Golden Visa Update – Biometric Appointments Opened for January to March 2023
- Portugal Golden Visa Approval 2022!
- SEF has resume their portal for online application submission!
- A Tale of Twin Citizenships
- Now What With the New Portugal Golden Visa 2022 Investment Options?
- The Future of Portugal’s Golden Visa – 2022 and after
- In 2021, 89% of Our Clients Went for the Fund Route
- The Hidden Gems in Portugal – Alcacer do Sal
- The Biggest Advantage of Investing in Fund for Your Golden Visa
- Is There Still Enough Time to Catch the Deadline of December 31st for My Golden Visa Application Submission?
- Portuguese Citizenship / Permanent Residence by Investment (The Complete Guide on the Aftermath of Portuguese Golden Visa)
- The Best Plan B in the World!!
- Portugal Golden Visa Investment Options – Which One is Best for You
- 20 Reasons why Portugal is the most ideal choice for a second passport?
- Portugal Golden Visa Funds versus Property: A Complete Cost Comparison
- 5 Reasons an Immigration Consultant Can Help You and How to Choose a Good One