Portugal Doubles Citizenship Timeline: What HNIs Need to Know

Portugal has revealed a significant change in its policy, increasing the timeline for getting citizenship via investment from approximately five years to ten years. The decision has been taken in light of the European Union-wide opposing trend, and the stress on residency and long-term contribution instead of just capital investment has become stronger. Portugal is now leaning towards ‘integration’ rather than ‘acquisition’ through investment.

For the Indian millionaires who considered Portugal as the easiest entry point to an EU passport through the Golden Visa route, the change is a decisive moment. The prolonged waiting time will have huge impacts on both ongoing and future applicants and thus make Portugal less attractive to global investors wanting to reside in easy and safe countries.

Impact on Indian Investors and HNIs

The shift in policy has already caused a reaction among Indian high-net-worth families who had together put up millions of euros in Portuguese real estate and businesses. One of the main reasons for this change in thinking is that migration consultants have reported a sharp decline of almost 30-40% in interest for Portugal. Many investors are now looking for other options, and at the same time, the UAE, Caribbean nations, and the US EB-5 investment route are seeing increased inquiries from the same segment.

Broader Implications: Integration over Investment

Europe’s changing position on citizenship is marking an important shift in the sale of citizenship as a benefit for integration or even cultural and social integration. This is connected to the global movement towards responsible migration, which means wealth alone does not guarantee fast-tracked citizenship anymore.

Conclusion & Call to Action

The investors looking for global access need to make a reconsideration of their strategy due to the change in policy. The ones who are applying for EU citizenship may have to look for different routes that are shorter in residential requirements and have more predictable outcomes.

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