Latest AIMA data and investor insights: fund-based Golden Visa growth, CMVM-regulated strategies, and citizenship timelines for global families investing in Portugal’s regulated markets.
Published: November 2025 • By Explorer Investments Editorial Team
The Portuguese Golden Visa continues to evolve. Following new data from AIMA (the agency replacing SEF), November 2025 shows strong interest in regulated investment funds despite the full phase-out of real estate options. Global investors are adapting — shifting capital toward compliant, transparent, and audited fund structures.
Below we outline the latest AIMA statistics, emerging trends in CMVM-regulated funds, and practical implications for families pursuing EU residency and citizenship.
The fund route now represents over 50% of all new Golden Visa applications, according to the latest filings through late 2025. Investor interest from the U.S., Brazil, India and the U.K. remains robust — mirroring the diversification shown in historical SEF/AIMA data.
CMVM oversight ensures a disciplined, transparent structure that investors can compare across strategies. This continues to be the foundation of the regulated fund route — aligning capital growth with governance, diversification, and compliance.
Citizenship applications remain steady. Investors who entered via the fund route between 2020-2021 are now reaching eligibility for Portuguese citizenship, enjoying EU rights, mobility and family security across 27 countries.
Residency renewals are also increasingly digital, as AIMA expands online processing, a key improvement after SEF’s legacy delays.
While headlines often exaggerate “the end” of the Golden Visa, the regulated fund model continues to attract disciplined investors who value transparency over speculation. As living in Portugal remains appealing, stable fund vehicles offer both compliance and continuity.
Speak with André Bandeira about Portugal’s regulated fund strategies, new AIMA processes, and cross-border portfolio planning.
Related reading: How Portugal’s CMVM-Regulated Funds Protect Investors · Portugal Golden Visa Statistics (2012-2023) · Portuguese Citizenship: The Ultimate Legacy
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André Bandeira
ab@explorerinvestments.com
Maria Campos Silva
mcs@explorerinvestments.com
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Get your complete, free guide to the Portuguese Golden Visa. Learn how to invest with confidence through Explorer Investments, the country's largest private equity fund.
André Bandeira
ab@explorerinvestments.comMaria Campos Silva
mcs@explorerinvestments.comCopyright © 2025 Explorer Investments
It is recommended to consult Chapter V of Decree-Law nº 162/2014, of October 31st, published in the Official Gazette, as well as its revision by Law nº 2/2020, of March 31st. The information included here is of a general nature, and therefore each potential investor should seek independent advice (e.g., legal, financial, tax, etc.)