Portugal's ARI (Golden Visa) - Start .. Middle .. End
The Authorization for Residence by Investment Activity programme "ARI", erroneously named, by the general public, The Golden Visa, continues to attract interest from China, Brazil, Middle East and Russia. Investors are experiencing a more vibrant real estate climate and capital gain for assets purchased back in 2014 and 2015. When this programme was launched, very few competitor programmes were out there, which led to ...
Increased number of Applications beyond SEF's (The Immigration Authority in Portugal) capacity
Investors continue to complain about the delayed processing times of residence permit issuance, renewals and sometimes even appointments to appear at the Immigration Department (SEF). The problem has exaggarated as of late. New online systems have failed to resolve the crippling processing delays. More and more people have filed formal compalints, yet very few had seen any fruit of their complain. It is not uncommon for an investor to wait 12 months to get his/her initial residence issued.
ARI (Golden Visa) Renewals
It is not uncommon for an investor to wait 7 - 9 month to receive an approval on the renewal of the residence permit. Once an approval is issued, an investor needs to pay his/her fees, await for the residence cards to be printed and delivered. The last two steps could take up-to 2 months.
The ARI programme today
New submissions, from the main suppliers of investors, i.e. China and Russia have significantly dwindled over the past two years. Investors Talk, new applicants seek opinion from existing applicants, the word about the delays got out, and potential investors have obviously considered elsewhere for their residence and immigration needs.
