Golden Visa credited with reviving Lisbon and boosting Portugal's economy

At the first Portugal Investment Forum held in Lagos, a panel of specialists examined the economic impact of the Golden Visa scheme. Duarte Ornelas Monteiro, a lawyer with RFF, argued that the program was the catalyst for the revival of downtown Lisbon, which had been in decline fifteen years ago. He explained that the original requirement of a €500,000 real-estate investment was removed in 2023 because of worries about its effect on the local housing market, and that new policy tweaks are being considered to improve housing affordability.

Gerry Fagan, chairman of Algarve developer DDM, echoed the sentiment, describing the Golden Visa as vastly underestimated and pointing to the government’s claim of €9 billion in direct investment since its 2012 launch. Fagan stressed that affordable homes are vital for maintaining services that support tourism and related businesses. The session was organized by Paul Stannard, founder of Portugal Pathways and the Portugal Investment Owners Club, which assists investors with residency applications and related financial planning.