Constitutional Court ruling brings clarity — but not certainty — to Portugal’s Golden Visa

The decision provides constitutional clarification but leaves the final outcome dependent on further parliamentary debate.

Several provisions were ruled unconstitutional and must now be revised before any changes can take effect.

Among its findings, the Court confirmed that counting the required residency period from the date a residence permit is issued is constitutionally permissible.

It also confirmed that new rules may apply prospectively, provided applications already submitted continue to be assessed under the law in force at the time they were filed, thereby avoiding retroactive application to pending processes.

However, four of the seven provisions under review were declared unconstitutional, meaning the proposed law must return to Parliament for revision.

Until that process is completed, the current law remains in force, including the existing five-year citizenship timeline.

Paul Stannard, Chairman and Founder of Portugal Pathways and the Portugal Investment Owners Club, said the ruling should be viewed as a legal clarification rather than a final resolution.

He explained: “This ruling provides constitutional clarity, but it does not yet provide certainty.

“It explains how the Court views constitutional questions, not how the political process will ultimately resolve the real-world issues faced by some families — particularly those who applied before 2024 and have waited far too long due to administrative delays outside their control.”

Legal observers note that the Court did not rule on issues of fairness, administrative delay at SEF/AIMA, or the economic and reputational implications for Portugal. Instead, it limited its assessment strictly to constitutional compliance.

Mafalda Martins, founder and immigration partner at Legal Latin Advisors in Lisbon, said the Court’s reasoning was based on an assumption that does not reflect the reality faced by many applicants.

She explained: “The Constitutional Court based its reasoning and argumentation on the premise that, with the actions of the task force created by the government for AIMA, applicants were no longer penalised by any delays.

“This situation does not correspond to reality, as scheduling for the collection of biometric data cannot be confused with the analysis of cases and the subsequent issuance of residence permits.

“AIMA did indeed schedule most investors, but the files, even those from 2021, are still pending analysis and the respective residence permits have not been issued. In other words, the delay that existed in January 2024 continues to exist with regard to the files from 2021 to 2024.”

Pedro Delgado Alves, a Socialist Party politician, believes the decree “will fall”, following the announcement and went on to say: “We should now focus on finding good and better solutions for the Nationality Law.”

The matter will now return to Parliament, where political negotiations are expected to continue. Transitional or mitigating measures remain possible, though not guaranteed.

Until then, uncertainty remains for thousands of Golden Visa investors, many of whom have experienced prolonged administrative delays through no fault of their own.

To find out more about Portugal’s Golden Visa residency-by-investment programme, contact Portugal Pathways today.