The Portuguese government intends to increase the budget of the Agency for Integration, Migration, and Asylum (AIMA) by approximately 50% in 2027—from 97 million euros to 146 million euros—and make processing the backlog of applications for investment-based residence permits a top priority. A significant portion of the agency’s expenses will be funded by administrative fees paid by foreign citizens, particularly participants in the “golden visa” program.
These plans were presented by Portugal’s Minister of the Presidency, António Leite Amaro, during parliamentary hearings on the draft state budget for 2027.
According to the minister, the government expects to finance the immigration system primarily through AIMA’s own revenues. Specifically, revenues from the issuance and renewal of residence permits, administrative procedures, and other immigration services are expected to cover more than 100 million euros in expenses.
At the same time, special attention in 2027 is planned to be given to applications for investment residence permits, known as the Golden Visa.
Previously, the agency had focused significant resources on processing applications from foreigners awaiting legalization of their stay and on reviewing family reunification cases. Now, the government intends to expand its administrative capacity to process applications from investors.
Delays in issuing investment residence permits remain one of the most serious problems facing the Portuguese immigration system.
During parliamentary debates in October 2026, the minister reported a large backlog of cases under the investment residency program.
According to published reports of his remarks, there were 45,000–46,000 applications that had been pending administrative processing for a long time. By early October, approximately 6,000 cases had been processed, and appointments for biometric data collection had been scheduled for roughly 30,000 applicants.
However, the published reports do not allow for a definitive determination of how many applications remained pending as of early November. The scheduling of a date for biometric data submission also does not guarantee the issuance of a residence permit.
The issue concerns both initial permits and the renewal of documents for previously registered investors.
The 2027 budget allocates over 4 million euros for AIMA’s digital transformation and approximately 4.2 million euros for modernizing the infrastructure for serving applicants. An additional 1.4 million euros is earmarked for language training, professional adaptation, and support for integration programs.
The investment program for obtaining a residence permit in Portugal has been in effect since October 2012. It allows citizens of non-EU countries to obtain a residence permit provided they meet the established investment requirements. In recent years, the program has undergone several changes. In particular, as of October 2023, the purchase of residential or commercial real estate is no longer a standalone basis for new applications for an investment-based residence permit.
Currently, the main options for participation include investments of at least 500,000 euros in eligible investment funds that are not real estate-focused, funding for scientific research of at least 500,000 euros, support for the arts and cultural heritage of at least 250,000 euros, as well as certain forms of investment in businesses and job creation.
Despite prolonged administrative delays, the investment residency program remains in effect.
According to the AIMA report for 2025, published on September 22, 2026, 2,685 investment residence permits were issued over the past year.
By comparison, the total number of residence permits issued to foreigners for the first time in 2025 reached 337,880. Another 189,331 permits were renewed.
However, a significant portion of the permits issued pertained to previously submitted applications that had been pending for a long time. Therefore, these figures cannot be directly interpreted as the number of foreigners who arrived in Portugal for the first time during the year.
According to the latest official data published by AIMA, as of December 31, 2025, there were 1,585,854 foreign residents in Portugal. The corresponding report, *Relatório de Migrações e Asilo 2025*, was released on September 22, 2026.
This represents approximately 15% of the country’s population, depending on the statistical estimate of the total population used.
The largest foreign community consists of Brazilian citizens—493,622 people, or 31.1% of all foreign residents.
In second place are Angolan citizens—99,050 people—and in third place are Indian citizens, with 91,405 residents.
Ukrainians rank fourth among Portugal’s largest foreign national groups. As of the end of 2025, there were 84,889 Ukrainian citizens in the country, accounting for approximately 5.4% of the foreign population.
Next are citizens of Cape Verde—71,005 people—followed by Nepal—about 56,000—Bangladesh—55,579—and Guinea-Bissau—51,935.
Other large foreign communities include citizens of the United Kingdom—47,726 people, Italy—42,418, Pakistan—42,042, and São Tomé and Príncipe—41,800.
Of particular significance is the temporary protection program for Ukrainians who were forced to leave the country following the start of the full-scale Russian invasion.
According to AIMA data, Portugal granted temporary protection to 66,740 displaced persons from Ukraine between 2022 and 2025. In 2025, 5,802 people received such permits.
It is important to note that these figures reflect a specific migration status and the period during which protection was granted. They cannot be mechanically added to the total number of Ukrainian residents, as the statistical categories may overlap.
Portugal remains one of the major hubs for international migration in Southern Europe, and plans to increase funding for AIMA reflect the need to modernize the administrative system that serves more than 1.5 million foreign nationals.
According to Experts.news, Lisbon was included in the UBS Global Real Estate Bubble Index for the first time and was immediately classified as a city at high risk of a housing price “bubble.”
The Portuguese capital’s index stood at 1.04 in 2026, according to a UBS study published on September 22. The bank classifies readings between 1.0 and 1.5 as “elevated risk.”
Over the past decade, real housing prices in Lisbon have risen by an average of nearly 7% annually—the highest rate among all 23 cities included in the study.
Since mid-2025 alone, housing prices, adjusted for inflation, have risen by an additional 10% or so.
UBS attributes the market’s long-term upswing, in particular, to policies aimed at attracting foreign investment and new residents.
However, analysts note that the factors that previously supported growth are gradually weakening. Lisbon has become one of Europe’s least affordable housing markets; rent growth has stalled, and demand is beginning to shift toward more affordable areas outside the city.
UBS cites Portugal’s shift toward a more selective immigration policy as an additional factor.
In terms of risk, Lisbon now ranks just behind Zurich, Tokyo, Miami, Dubai, Seoul, and Geneva. At the same time, it ranks ahead of Amsterdam, Madrid, Frankfurt, Munich, Paris, and London.
The study does not imply that UBS is forecasting a drop in prices in Lisbon. The index points to a buildup of imbalances between real estate prices, household incomes, rental rates, lending volumes, and other fundamental indicators.
Kyiv was not included in this study.
Foreign workers, entrepreneurs, and digital nomads legally residing in Portugal can receive government financial support of more than EUR5,000 when relocating to inland areas of the country under the Emprego Interior MAIS program, according to data from the Portuguese Institute for Employment and Vocational Training (IEFP).
The program is available to workers who relocate to specific inland municipalities in Portugal to take a job, move their existing professional activities there, start their own business, or continue working remotely.
The base payment in 2026 is EUR 3,759.91 for workers with permanent employment contracts, as well as for those who create their own job or start a company. For fixed-term employment contracts lasting at least 12 months, the base payment is EUR 2,685.65.
In addition, the government pays 20% of the base amount for each family member moving with the recipient, as well as up to EUR805.70 for the transportation of personal belongings.
For example, an employee with a permanent contract who is relocating with one family member can receive EUR 5,317.59: EUR 3,759.91 in basic assistance, EUR 751.98 in family allowance, and EUR 805.70 for moving expenses. Therefore, the actual amount of assistance may exceed 5,000 EUR, and for larger families, it may be even higher.
EU citizens, citizens of the European Economic Area, and Swiss citizens, as well as third-country nationals legally residing in Portugal, are eligible for this assistance. The IEFP specifically notes that the program also applies to foreigners with temporary protection status. Thus, provided they meet the other conditions, Ukrainians residing in Portugal with the appropriate legal status may also take advantage of the program.
To receive support, you must relocate your permanent residence to an inland region of Portugal for at least 12 months. If you are starting a new job, the move must take place within 180 days before or after you begin working or start your own business. The salary under an employment contract must not be lower than the national minimum wage.
If the contract is for a fixed term, its duration must be at least 12 months. The program also allows applicants to open a small company with up to 10 employees or to create their own job. If the applicant establishes a commercial company, they must own more than 50% of its capital and voting rights.
A separate category is provided for foreign digital nomads. Foreign nationals who legally reside in Portugal, work remotely for an employer or client outside the country, and relocate to an inland region are eligible for assistance. For them, professional activities must have begun after January 1, 2022, and their income must be at least equal to Portugal’s minimum wage.
Payment is made in two stages. The first 60% of the approved amount is transferred after the application is accepted and the required documents are submitted; the remaining 40% is paid in the 13th month after starting work, establishing a business, or relocating the workplace.
Applications are submitted through the government portal iefponline. As of August 2026, the application period is open and will continue until the program’s funding is exhausted. The application must be submitted no later than 180 days after the start of the employment contract, the establishment of a business, or the relocation of the workplace.
The Emprego Interior MAIS program is part of Portugal’s policy to attract workers and entrepreneurs to the country’s inland regions, which are facing population outflow and labor shortages. It does not automatically apply to any move to Portugal—the new place of residence and, depending on the situation, the place of work must be located within a municipality or parish included by the IEFP in the list of inland areas.
Portugal has dramatically accelerated the processing of backlogged immigration cases following several years of delays in the system for issuing and renewing residence permits. According to government data, the Agency for Integration, Migration, and Asylum (AIMA) and a special unit tasked with clearing backlogged cases have conducted 763,000 interviews and issued decisions on more than 525,000 cases, of which approximately 473,000 were approved.
This represents a massive clearance of the backlog that formed following the dissolution of the former Service for Foreigners and Borders (SEF), the creation of AIMA, and the abolition of the former “expression of interest” mechanism. This mechanism allowed foreigners already in Portugal to regularize their status if they had a work and tax history.
According to government data, AIMA notified 445,000 people under the now-abolished “expression of interest” scheme alone. A total of 246,000 decisions were made in this category, of which 229,000 were positive and 26,000 were negative, and 225,000 residence cards have already been issued.
Cases involving citizens of the Community of Portuguese-Speaking Countries (CPLP) were considered separately. Under this scheme, 215,000 people were notified, 207,000 interviews were conducted involving 161,000 migrants, and AIMA issued 153,000 decisions, of which 140,000 were positive. 136,000 residence cards have already been issued.
Another major category involves the renewal of expired residence permits. According to Minister for the Presidency António Leiteu Amaro, there were approximately 360,000 such cases; 193,000 people were notified of the need to regularize their status, 104,000 attended appointments, and 82,000 have already received new permits.
Immigration reform has become one of the most sensitive issues for Portugal. The authorities are attempting to simultaneously reduce the administrative backlog, strengthen controls, transition to a more digital system, and abandon the practice whereby the country effectively legalized a large number of people after their entry.
According to AIMA data, as of the end of 2024, there were 1.543 million foreign nationals in Portugal with valid documents or ongoing regularization procedures. This is nearly four times more than in 2017, when 421,800 foreigners were registered in the country.
Brazilian citizens remain the largest foreign community in Portugal, numbering 484,600 people, or 31.4% of all foreigners. The Indian community is the second largest, with 98,600 people. They are followed by citizens of Angola—92,300, Ukraine—79,200, Cape Verde—65,500, Nepal—58,100, Bangladesh—55,200, the United Kingdom—48,200, Guinea-Bissau—47,300, Pakistan—41,500, São Tomé and Príncipe—40,100, and Italy—40,000.
Ukrainians remain one of the largest European migrant groups in Portugal. According to AIMA data for 2024, 79,232 Ukrainian citizens resided in the country, including 31,271 men and 47,961 women. Some Ukrainians are in Portugal under temporary protection, introduced in the EU after the start of Russia’s full-scale war against Ukraine.
AIMA specifically noted that as of the end of 2024, there were 61,242 recipients of temporary protection in Portugal who are not considered holders of a standard residence permit but are included in the statistics on foreign residents.
Geographically, Portugal’s foreign population is concentrated primarily along the coast. The districts of Lisbon, Faro, Setúbal, and Porto account for 1.101 million foreign citizens, or 71.3% of the total. The Lisbon metropolitan area itself is home to many municipalities with the largest foreign communities: Lisbon, Sintra, Cascais, Amadora, Lores, Odivelas, Almada, and Seixal.
The growth in the number of foreigners reflects several processes at once: labor demand, the influx of migrants from CPLP countries, the increase in the number of people from India, Nepal, Bangladesh, and Pakistan, as well as the presence of Ukrainians who received protection after 2022. Authorities emphasize that more than 1.03 million foreign nationals pay contributions to Portugal’s social security system.
According to data from the Portuguese National Institute of Statistics (INE), foreign buyers purchased 41,086 houses and apartments in Portugal in 2025, a 6.6% increase from the previous year.
Brazilian citizens became the largest group of foreign buyers. In 2025, they purchased 9,808 properties, a 27.5% increase from 2024. Angolan citizens ranked second with 4,145 purchases, a 2.2% increase. The French took third place, purchasing 3,765 properties, a 6.2% decrease from the previous year.
According to INE data, foreign buyers with tax residency in Portugal completed 34,834 transactions, an increase of 11.4% compared to 2024. At the same time, purchases by non-residents declined: foreigners without tax residency in Portugal purchased 8,471 properties, which is 13.3% less than a year earlier. This marked the third consecutive year of declining activity among non-residents.
This gap indicates a shift in the structure of foreign demand. The Portuguese real estate market is increasingly relying not on traditional foreign investors, but on foreigners already residing in the country. These may include migrant workers, relocators, families with long-term residence permits, and members of diasporas, primarily Brazilian and Angolan.
Foreigners, as before, are purchasing more expensive properties than local residents. According to INE data, the average value of real estate purchased by buyers with tax residency in Portugal was €234,120. Buyers from EU countries paid an average of €335,640, while buyers from non-EU countries paid €470,277 per property. British and American buyers purchased particularly expensive properties: the average transaction price was €512,585 and €479,403, respectively.
Geographically, demand from non-residents remains concentrated in the most attractive regions. In 2025, the Algarve accounted for 29.7% of non-resident transactions, the Northern region for 20%, the Central region for 14.9%, and Greater Lisbon for 12.5%. In terms of transaction value, the Algarve’s dominance is even more pronounced: the region accounted for 42.4% of total non-resident investment in housing.
The INE also noted strong growth among buyers from Ukraine, Cape Verde, and Venezuela: the number of transactions by citizens of these countries increased by more than 25% in 2025. However, the exact number of properties purchased by Ukrainians is not disclosed in the brief INE publication or in reports by the Portuguese media.
For Ukrainians, Portugal remains an attractive destination due to its safety, access to the EU, labor market, diaspora ties, and the possibility of long-term residency. At the same time, following the removal of real estate as a basis for the Golden Visa, investment demand has become less tied to obtaining a residence permit and more dependent on actual relocation, income levels, and long-term residency plans.
Thus, Portugal’s housing market maintains high foreign demand, but its structure is changing. Brazilians have strengthened their leadership due to linguistic and migratory proximity; Angolans remain an important group of buyers; and the French, British, and Americans continue to play a major role in the higher-end segments. Ukrainians are not yet among the largest buyers but are demonstrating one of the most notable growth rates.
In 2025, foreign buyers purchased 41,086 homes and apartments in Portugal, a 6.6% increase from the previous year, according to Portugal’s National Institute of Statistics (INE).
Brazilian citizens constituted the largest group of foreign buyers. In 2025, they purchased 9,808 properties, a 27.5% increase from 2024. Angolan citizens ranked second with 4,145 purchases, marking a 2.2% increase. The French took third place, purchasing 3,765 properties, a 6.2% decrease from the previous year.
According to INE data, foreign buyers with tax residency in Portugal completed 34,834 transactions, an 11.4% increase from 2024. At the same time, purchases by non-residents declined: foreigners without tax residency in Portugal acquired 8,471 properties, 13.3% fewer than the previous year. This marked the third consecutive year of declining activity among non-residents.
This gap reflects a shift in the structure of foreign demand. The Portuguese real estate market is increasingly relying not on traditional foreign investors, but on foreigners already living in the country. These may include migrant workers, relocators, families with long-term residence permits, and members of diasporas, primarily Brazilian and Angolan.
Foreigners continue to purchase more expensive properties than local residents. According to INE data, the average value of real estate purchased by buyers with tax residency in Portugal was EUR234,120. Buyers from EU countries paid an average of EUR335,640 per property, while buyers from non-EU countries paid EUR470,277. British and American buyers purchased particularly expensive properties: the average transaction price was EUR512,585 and EUR479,403, respectively.
Geographically, demand from non-residents remains concentrated in the most attractive regions. In 2025, the Algarve accounted for 29.7% of non-resident transactions, the Northern region for 20%, the Central region for 14.9%, and Greater Lisbon for 12.5%. In terms of transaction value, the Algarve’s dominance is even more pronounced: the region accounted for 42.4% of total non-resident investment in housing.
The INE also noted strong growth among buyers from Ukraine, Cape Verde, and Venezuela: the number of transactions by citizens of these countries increased by more than 25% in 2025. However, the exact number of properties purchased by Ukrainians is not disclosed in the INE’s brief publication or in reports by the Portuguese media.
For Ukrainians, Portugal remains an attractive destination due to its safety, access to the EU, labor market, diaspora ties, and the possibility of long-term residency. At the same time, following the removal of real estate as a basis for the Golden Visa, investment demand has become less tied to obtaining a residence permit and more dependent on actual relocation, income levels, and long-term residency plans.
