Significant delays in Portugal golden visa processing times

Portugal’s, the most popular golden visa program in Europe is experiencing 6 month delays for most applicants in 2017 and currently, backlog of 4,000 cases pending with SEF office in Portugal, according to Algarve news.

Last year, many chinese were fed up with delays upto one year waiting for golden visa.

Portugal already issued 1041 golden visas up until 31, July 2017, compared to  only 1414 golden visas in entire 2016. Another 1000 golden visas are expected to be issued by the second half of 2017.

Investors are required to buy a property for €500,000 in Lisbon or other cities in Portugal. This investment is reduced to 350,000 on buying a refurbished property, which are 30 years or more old.

Cyprus, Malta, Greece compete with Portugal for a cheaper golden visa investment in Europe, along with Spain.

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