Golden visas: the gap in processing times between Italy and Portugal

IMI's processing time tracker measures the time actually observed to bring an application to completion, not the times advertised by the programmes. It combines agent statements, data collected from the public, investor testimonials and public data, with agent statements cross-checked against other sources.

The Greek figures come from official data and those for Portugal from the Nomad Gate database. For the other programmes, they are estimates based on what investment migration firms have observed. Each average describes the past: it reflects how long ago the most recently closed files were submitted.

In the second quarter of 2026, Italy shows an average of 3,3 mois for its investor visa, compared with 2,3 mois in the first quarter. Vanuatu follows with 4,5 mois, Nauru with 5,6 mois, Saint Kitts and Nevis with 5,7 mois and Grenada with 6,6 mois. Italy issues a residence permit, while the other four grant citizenship.

At the other end, the Portuguese golden visa reaches 50,4 mois, compared with 43,9 mois in the previous quarter, even though the law requires the immigration agency to rule within 90 jours. In this programme, the fastest file took 36,3 mois and the slowest 78,9 mois. Greece stands at 12 mois, compared with 18,5 mois in the second quarter of 2024, with 25,970 applications pending at the end of September 2026, including family members and renewals.

Ten of the 12 programmes tracked in the first quarter saw their average lengthen. Grenada's did not change and Greece's improved.

The average does not predict the processing time of a file submitted today. In Greece, where it is falling, an application submitted now should take less than 12 mois depending on the source; in Italy, where it is rising, it may exceed 3,3 mois. In Portugal, applicants since January 2025 follow a fully digital procedure, which is slightly faster, whereas those who provided their biometric data before 2025 fall under a paper-based procedure.

The professionals cited by the source stress the quality of the file: a missing apostille, a name spelled in two different ways, an expired bank certificate, an uncertified translation or an old conviction can add weeks. Price does not determine the wait either: three Caribbean programmes with similar contributions show 7 mois, 16,8 mois and 17,5 mois.