In 2024, Portugal issued 2,081 ARI residence permits, down from 2,901 in 2023—a 28% decline year over year, according to the Agency for Integration, Migration and Asylum (AIMA)’s annual migration and asylum report.
At the same time, family reunification permits linked to ARI rose to 2,909 in 2024, up from 1,554 in 2023—an 87% increase.
The most recent nationality breakdown, published for 2023, shows the United States led with 567 permits, followed by China with 306.
The Golden Visa—formally the Autorização de Residência para Atividade de Investimento (ARI)—launched in October 2012. Official reporting from the program’s first decade shows:
The 2022 annual reporting (RIFA 2022) provides a granular snapshot: €654.3 million in total ARI investment that year, with property purchases representing €534.6 million across 1,008 investments.
The program has undergone significant changes in recent years, including restrictions on real estate investment routes and the administrative transition from Serviço de Estrangeiros e Fronteiras (SEF) to AIMA. These changes created a complex operating environment that can influence year-to-year totals.
The data doesn’t explain causation, but it shows a clear pattern: fewer new ARI permits, more family reunification.
This story summarizes publicly available reporting from Portuguese migration authorities. Year-over-year comparisons are calculated from reported annual totals. Figures may be revised by the source agency in later publications.
This story was produced by Movingto and reviewed and distributed by Stacker.