Visualized Golden Visa data from AIMA/SEF — yearly applicant trends, all-time nationalities, and a 2023 snapshot by nationality and investment route. For investor guidance, see our €500k fund-route guide.
By André Bandeira, CFA • Updated: November 2025
4455
Applicants in 2023
Main 1554 • Family 2901
12,718
Main Investors (All-Time)
20,424
Family Members (All-Time)
€6.56bn
Total Investment 2012-2022
SEF cumulative
Source: AIMA/SEF. Official annual totals included.
Main applicants granted since 2012.
| # | Country | Permits (All-Time) |
|---|---|---|
| 1 | China | 5407 |
| 2 | Brazil | 1256 |
| 3 | USA | 781 |
| 4 | Turkey | 613 |
| 5 | South Africa | 574 |
| 6 | Russia | 549 |
| 7 | India | 357 |
| 8 | Lebanon | 336 |
| 9 | Pakistan | 306 |
| 10 | Vietnam | 268 |
Considering the investment path? Review the CMVM-regulated €500k fund route.
AIMA is rolling out digital systems to reduce pending files (2024-2025).
Traditionally 5 years. Amendments approved in 2025 may extend some routes to 10 years — always confirm the current rules before applying.
CMVM-regulated funds, following the removal of the real estate route.
Get personalized guidance on the fund process. Our Investor Relations team can clarify the steps, discuss Explorer's fund options, and connect you with trusted legal experts. Schedule your confidential, no-obligation consultation today.
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.)