The new citizenship‑by‑investment program launched on 1 August for the former Portuguese colony that gained independence in 1975 (referred to in the source as “Storip”) offers a fast, low‑cost route to a passport. The program is administered by a citizenship‑investment unit based in Dubai, which the source claims simplifies fund transfers compared with other jurisdictions.
Program overview
- Launch date: 1 August (2024)
- Processing time: approximately 6 weeks – the fastest reported among similar schemes.
- Administration: Citizenship‑investment unit located in Dubai; the exact start of the application window is expected in early September.
Costs and fees
| Item | Approx. cost (USD) |
|---|---|
| Non‑refundable submission fee | 5,000 |
| Investment (single applicant) | 90,000 |
| Investment (family of 2‑4) | 95,000 + 5,000 per additional family member |
| Dependent additions (if added later) | 10,000 for spouse, 5,000 for children, ≈ 500 for newborns |
| Government fees (passport, due‑diligence, processing, ID) | ≈ 750 per person |
Eligibility
- Applicants: Open to virtually all nationalities; the only excluded nationality mentioned is North Korean.
- Dependents: Spouse; children up to 30 years old, unmarried and financially dependent; parents over 55 years; newborns; and future spouses.
Passport strength
- Global ranking: around 145th.
- Visa‑free access: 71 countries, including Malaysia, Costa Rica, Panama, South Africa, among others.
Potential pathway to Portuguese citizenship
- Current Portuguese naturalisation rules require 5 years of residence (or a golden‑visa stay of two weeks per two years).
- If Portugal extends the residency requirement to 10 years, holders of the “Storip” passport could qualify after 7 years (instead of 10).
- A Portuguese language test is required regardless of colonial ties; the source notes that former Portuguese colonies are still subject to this test.
Processing and administration benefits
- The Dubai‑based unit is presented as a safeguard against banking issues that have affected other programs (e.g., Vanuatu, Caribbean schemes).
- Funds are transferred to Dubai, which the source suggests reduces the risk of transaction delays or rejections.
Considerations and risks
- Verification needed: The exact processing time and practical experience are still unconfirmed; the source recommends waiting for the first few applicants to complete the process before committing.
- Passport utility: The passport’s limited visa‑free reach may be a drawback for travelers needing broader access.
- Future policy changes: Potential adjustments to Portuguese naturalisation rules could affect the relative advantage of this passport.
- Language requirement: Applicants must be prepared to pass a Portuguese language test if naturalisation in Portugal is pursued.
Prospective investors should weigh the low investment threshold and rapid processing against the modest passport strength and the uncertainty surrounding future regulatory changes. Waiting for early adopters’ outcomes before proceeding is advised.
