Inês Azevedo, Counsel at Morais Leitão, considers that delays in the processing of Residence Permits for Investment (ARI), known as Golden Visas, are generating growing discontent among foreign investors and undermining the attractiveness of the Portuguese scheme.
Speaking to Jornal Económico, our lawyer highlights the direct impact of administrative delays on investor confidence, noting that many have already fully complied with the legal requirements and made the relevant investments, yet are still awaiting a final decision.
Inês Azevedo states: “There are investors who want to withdraw from Portugal because they feel let down.”
The Counsel at Morais Leitão also draws attention to the need for consistency in the State’s administrative response capacity, stating: “If the Government had the capacity to regularise 400,000 visas, it should also have the capacity to regularise ARI investors, who number around 13,000.”
Among the practical consequences of these delays is the restriction on mobility within the European area, a situation that directly affects investors’ personal and professional lives. As she explains: “They are effectively trapped and unable to leave the Schengen area, the European border-free zone. Without a residence document, they cannot travel.”
This assessment highlights not only an operational constraint, but also a potential reputational impact for Portugal as a destination for international investment, in a context where legal and administrative predictability is decisive for investment decisions.
Read the full commentary in Jornal Económico.
