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Portugal’s decision to double the wait time for citizenship to 10 years has derailed the EU passport plans of wealthy Indian investors and signaled a broader European crackdown on investment-based migration.
What was once a fast-track route to European citizenship has become a cautionary tale for Indian high-net-worth individuals. Portugal’s golden visa, formerly a favorite for its light residency demands and real estate-linked investment, now requires a decade-long wait for naturalisation—twice the previous timeline.
Industry experts say the rule change affects hundreds of Indian families who had built long-term plans around Portugal’s five-year pathway. The estimated capital at stake could exceed €250 million.
The shift comes amid growing backlash across Europe against commercialised citizenship. In April, the European Court of Justice ruled against Malta’s “citizenship-for-sale” model. That, coupled with a broader rightward political shift, has forced governments to tighten access and emphasize integration over money.
Interest in Portugal’s programme has since dropped by up to 40 percent, while investors increasingly look to alternative destinations. These include the UAE’s 10-year residency, Caribbean citizenship routes like Grenada and St. Kitts, and the US EB-5 visa. Inquiries for EU countries like Greece, Italy, and France have also risen due to their clearer residency rules.
Industry experts say the rule change affects hundreds of Indian families who had built long-term plans around Portugal’s five-year pathway. The estimated capital at stake could exceed €250 million.
The shift comes amid growing backlash across Europe against commercialised citizenship. In April, the European Court of Justice ruled against Malta’s “citizenship-for-sale” model. That, coupled with a broader rightward political shift, has forced governments to tighten access and emphasize integration over money.
Interest in Portugal’s programme has since dropped by up to 40 percent, while investors increasingly look to alternative destinations. These include the UAE’s 10-year residency, Caribbean citizenship routes like Grenada and St. Kitts, and the US EB-5 visa. Inquiries for EU countries like Greece, Italy, and France have also risen due to their clearer residency rules.
