Key insights
- Portugal's doubling of the citizenship waiting period, driven by a surge in immigration, signals potential strain on the nation's housing, healthcare, and public services. While primarily a localized issue, it reflects broader demographic and economic pressures in Europe that could indirectly impact global markets by influencing investor sentiment regarding European stability and growth.
Investing.com -- Portugal’s president signed legislation on Sunday that doubles the waiting period for foreigners seeking citizenship, extending the requirement from five years to up to 10 years for most applicants.
The bill received parliamentary approval last year with support from the minority center-right Social Democratic Party and far-right Chega party.
President Antonio Jose Seguro, whose term began in March, expressed hope that pending applications would remain unaffected by the change. He stated that retroactive application would constitute an undesirable breach of trust in the state at domestic and international levels.
Under the new law, individuals from Brazil, Angola and other Portuguese-speaking nations will need to wait seven years for citizenship instead of five.
The legislative change comes as Portugal’s foreign population reaches record levels. The country now has 1.5 million foreign residents, representing about 15% of the total population, according to Portugal’s Agency for Integration, Migration and Asylum. This marks nearly triple the number recorded in 2019.
The surge in immigration following the pandemic has placed pressure on Portugal’s housing, healthcare and public services.
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