Yesterday, May 18, the parliament elections were held and as expected the right-wing parties obtained a landslide majority, due above all, to the increase of votes in the centre-right coalition (AD) and in the far-right (Chega).
The Socialist Party (PS), who held power from 2015 until 2024, was the biggest loser of the elections, with votes casted on that party, more than 9 percent points below AD.
Even with the support of the liberal party (Iniciativa Liberal), AD will not have the possibility of forming a government backed by an absolute majority in the parliament.
The likelihood of AD forming a government supported by Chega, also looks quite remote, considering the recent soured past relationship between both political groups.
The most likely scenario seems to be AD forming a government with the support of their minority group in the parliament.
Although not an ideal situation, a minority backed government led by AD, probably will have a reasonable stability for the next couple of years, since it seems clear than parties that jeopardize stability will be, most likely, penalized in future elections (like PS just was now). Also, due to the next year presidential elections, there will be a relatively period, until fall 2026, where parliament elections can´t be held for legal reasons.
In terms of pro-investment policies, the results seem to be quite supportive, since the right-wing parties have a clear more positive stance in promotion of investment by both local and international investors, than the Socialist Party and the far-left parties.
In terms of immigration policies, we expect the following trends to materialize:
- Bigger restrain on approval of immigrants with lower academic and/or professional qualifications.
- Creation of a more stringent and demanding process for qualification for citizenship.
- Improvement of the levels of service in terms of approval for higher adding value immigrants, including Golden Visa investors applicants.
- Stability in the Golden Visa program, since all right-wing parties voted in 2023 against the Socialist Party curtailing the real estate option. Eventually, we cannot exclude the creation of a new route that could increase the supply of houses for the renting market.
The Portuguese Golden Visa is currently one of the few remaining reputable Golden Visa programs remaining, with the ending of the Irish Program in 2023, significant increase in September 2024 of the minimum real estate threshold in the main areas of Greece, suspension of the Spanish program in April 2025 and the ruling of EU Court of Justice during this month, putting an end to the Maltese citizenship by investment program, the so-called Golden Passport scheme.
After October 2023, the Portuguese Golden Visa program main investment route is composed of investment funds, in particular private equity funds, being the demand for this investment channel fuelled by investors spread across the world but with a clear leading position from citizens from USA.
Why is Portugal Golden Visa the choice for so many investors?
- The country is known for its high quality of life, safety, welcoming environment with friendly people, a beautiful coastline and an excellent cuisine.
- Predictable and stable weather with an average of more than 300 sunny days in a year.
- Portugal has a very affordable cost of living, cheaper on average by more than 40% compared with the main western developed countries.
- High proficiency in written and spoken English by a wide majority of the Portuguese population.
- Access to free public education and healthcare.
- Visa-free travel across Europe’s Schengen Area currently composed of 29 countries, is included, allowing free movement for the investor and eligible family members.
- Investors and their families do not need to live in Portugal to keep the residency card. A stay of only 14 days every two years will be enough.
- In Portugal, unmarried couples who have been residing together for a minimum of 2 years are eligible to apply and the Portuguese law fully recognises members of the LGBT+ community for the concept of family members for Golden Visa and residency application purposes.
- After five years after the application, one of the shortest time spans in the Golden Visa programs around the world, investors may apply for Portuguese citizenship, granting them, family members and future generations, access to a Portuguese passport, that allows visa-free or visa-on-arrival access to 191 countries.
The Blue Portugal
The Blue Portugal is a leading immigration company in Portugal and has an enviable track-record and reputation in serving our customers.
Our strength is finding the appropriate solution according to your need and providing detailed analysis on the different investment options for you to make an informed decision.
If you have any questions, please do not hesitate to contact us.
