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Global Banking and Finance Review

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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Posted By Global Banking and Finance Review

    Posted on June 23, 2025

    Featured image for article about Headlines

    By Sergio Goncalves

    LISBON (Reuters) -Portugal's centre-right minority government, under pressure from the far right to reduce immigration, said on Monday it would double to 10 years the amount of time most foreigners need to be legally resident in Portugal before applying for citizenship.

    Cabinet Minister Antonio Leitao Amaro said other immigration rules, such as those governing the issuance of residence permits for families of legal immigrants, would also be tightened, and there would be a provision stripping naturalised Portuguese who commit serious crimes of their citizenship.

    The Iberian country of around 10.5 million people has experienced a significant increase in immigration in recent years and the tightening of requirements to obtain Portuguese citizenship was a central theme in last month's election, in which the far-right Chega became the main opposition party.

    The decree is yet to be sent to parliament, but it is expected to be approved with Chega's support.

    "We are significantly strengthening the requirements for access to citizenship, naturalisation, in line with the guidelines we were already included in the government's program," Leitao Amaro told reporters.

    He said that the 10-year period will apply to most foreigners, but immigrants from Portuguese-speaking countries such as Brazil, Angola or Mozambique will have a 7-year period.

    Under existing rules, aside from the five years of residency, foreign citizens must demonstrate sufficient knowledge of Portuguese, no previous sentences of more than three years in prison and must not constitute a threat to national security.

    Portugal will now require that they also show familiarity with Portuguese culture, the rights and duties of citizens, declare support for the fundamental principles of a democratic state, and have not served any effective prison sentence.

    According to economic data aggregator Pordata, in 2023, the last year for which final data is available, 141,300 foreigners were naturalized, 20% less than in 2022.

    The government said in January that more than 400,000 applications were being processed.

    The migration and asylum agency AIMA estimates that more than 1.5 million foreign citizens were legally residing in Portugal as of the end of 2024. Brazilians are the largest group, with over 450,000 legal immigrants.

    (Reporting by Sergio Goncalves; Editing by Toby Chopra)

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