The Portuguese Agency for Integration, Migration and Asylum (AIMA) is accelerating its revision process to address the backlog of 450,000 immigration files. Minister of the Presidency, António Leitão Amaro, explained the details of this revision effort, referencing data from AIMA’s interim report on the foreign population in Portugal.
According to Amaro, the number of immigrants in Portugal was slightly above 400,000 in 2017. By 2024, this figure had quadrupled to 1.1 million. Over a span of seven years, the proportion of foreign residents in the country increased from 4% to 15% of the total population. Both the AIMA report and Amaro’s remarks reinforce Portugal’s position as an increasingly attractive destination for international residents and investors.
From Get Golden Visa’s perspective as a market leader in Portugal, this momentum in migration can be interpreted as follows: In an era of global geopolitical uncertainties and economic pressures, people are seeking more stable and secure environments for living and investing. In this context, Portugal continues to emerge as one of the most preferred destinations.
In this insight report, we analyze the scope of the planned reforms and explore the new dynamics and potential sectoral impacts created by the growing foreign population.
Our year-long analyses clearly indicate that 2023 marked a turning point in residence permits and Golden Visa applications in Portugal. According to AIMA’s September report, the number of legally residing foreigners rose by 33.6% in 2023, reaching 1,044,606 by year-end.
What Does It Mean That Foreigners Now Make Up 15% of Portugal’s Population?
Portugal has undergone a striking demographic transformation between 2017 and 2024, becoming one of Europe’s most dynamic migration landscapes. As of 2024, the number of foreign residents has reached nearly 1.6 million, corresponding to 15% of the country’s total population. This demographic change supports the sustainability and dynamism of Portugal’s investment environment. We can analyze the impact of this shift under three main themes:
Three Key Reflections of Demographic Transformation
A Diversified Investor Profile and Rising International Appeal
Portugal is now home to a wide range of international residents, including digital nomads, retirees, tech investors, and entrepreneurs. U.S. citizens lead in Digital Nomad Visa applications. As of 2024, there are an estimated 40 million digital nomads globally, 46% of whom are American. In 2023, 22.4% of Portugal’s Digital Nomad Visas were issued to Americans, and this trend has continued into 2024. With fast internet infrastructure and high quality of life, Portugal remains a highly attractive destination for this mobile workforce. This diversity in investor profile demonstrates Portugal’s multi-faceted and sustainable investment climate.
Portugal Golden Visa Investment Applications in Numbers
- In 2023 alone, the number of US investors increased by 162.5%, from 216 to 567.
- Family applications rose by 83%, reaching 2,901.
- Individual applications increased from 1,281 to 1,554.
- UK investors totaled 234, ranking 3rd among nationalities.
- Interest driven by tax incentives and high quality of life.
- US and UK demand led the surge, indicating a trend shift in investment migration.
The ‘Brazil Effect’ in Portugal
- The Brazilian community continues to be the largest group of foreign residents, accounting for 35.3% of the total foreign population.
- This reflects strong historical, cultural, and linguistic ties between the two nations.
Portugal as a ‘Second Life Destination’
- In addition to Brazil, the number of residents from South American and African countries is also on the rise.
- These groups increasingly view Portugal as an attractive second-home destination.
Investment Opportunities in Real Estate, Education, Healthcare, and Services
The growth in foreign population brings expansion in housing, education, private healthcare, and consumer markets. In 2023, foreign workers contributed €2.7 billion to the Portuguese social security system, helping finance 17% of national pensions. In 2024, this contribution grew to €3.654 billion, representing 12% of the total €29 billion in social security revenues. Amaro emphasized that the number of foreigners contributing to social security rose from 244,000 in 2017 to 1 million in 2024-a fourfold increase. These changes have led to more people working, producing goods and services, increasing school enrollments, and supporting demographic renewal.
Rising Demand for Stability and Transparency Among Investor
The surge in immigration has triggered structural changes in Portugal’s administrative systems. For those seeking residence through investment, this emphasizes the growing need for procedural clarity and transparency. AIMA, which replaced the Foreigners and Borders Service (SEF) in 2023, was designed to improve the efficiency and transparency of migration governance. However, the agency soon encountered operational and IT infrastructure challenges, with a backlog exceeding 400,000 applications. This restructuring is part of a broader effort to add efficiency and quality to the migration process.
The “transition regime,” which ended on June 3, 2024-the same date as the termination of the “Manifestação de Interesse” system-allowed individuals already residing in Portugal to obtain legal status. This application pathway had permitted tourists and other temporary visitors who paid taxes to eventually receive residence cards. It was one of the most accessible routes to residency but led to heavy administrative congestion. Its removal has helped ease the pressure on AIMA and opened the door to shorter processing times, contributing to the increasing statistics of Portugal Golden Visa.
However, since the change is still recent, there remain over 440,000 immigration files awaiting resolution. To address this, the government announced new financial incentives for AIMA staff:
- €860 monthly bonuses for senior technicians
- €616 for technical support staff
These bonuses are conditional on completing a minimum of 50 cases per day.
From a Golden Visa Perspective
Golden Visa remains a structured, economically-driven, and sustainable residency path. While general migration to Portugal continues to grow, infrastructure investments are increasing in ways that enhance long-term quality and predictability for Golden Visa holders. At Get Golden Visa, we have also seen rising demand for other investment- and income-based programs such as the D7 and D8 visas. AIMA’s reporting confirms this growing interest with solid data.
To summarize:
- The growth in foreign population = Ecosystem expansion, not just higher demand
- Demographic growth = New investment opportunities and evolving lifestyles
Portugal’s Reality: A Thriving Hub for Global Investors and Residents
Looking ahead, we expect interest in Golden Visa and related residence-by-investment programs to remain strong. Any future changes in migration policy and transition periods will play a key role in maintaining Portugal’s global standing in this space.
Portugal’s growing demographic diversity is not just a population increase; it signals the formation of a new lifestyle and investment ecosystem. The Golden Visa continues to offer investors a stable and strategic path to residency.
Throughout the year, we have witnessed a steady rise in application and consultation volumes at Get Golden Visa-a trend that aligns with official statistics. The takeaway is clear: Portugal remains a highly attractive country for investors, families, and individuals seeking a new life.
