Image from PICRYL
Portugal has taken a significant step in its migration policy by recognising the diaspora as a “strategic pillar of national foreign policy.” According to the 2026 State Budget, a new initiative called “Voltar” (“Return”) will be launched, targeting workers, investors, and retirees wishing to come back to the country.
This programme succeeds the existing “Programa Regressar”, which already offers incentives such as financial support, tax benefits, and credit lines for investment projects to Portuguese citizens living abroad who decide to return. The new “Voltar” initiative expands on these measures through three main pillars: coordination of the external network, modernisation of consular services, and stimulation of diaspora investment within Portugal.
Why This Repositioning Is Critical
Retention of Talent and Qualified Return
In times of brain drain, many Portuguese who have built careers abroad might consider returning if competitive conditions exist at home. Attracting these highly skilled professionals strengthens key sectors — such as technology, healthcare, and research — while reducing shortages of specialised labour.
Inflow of Private Direct Investment
Members of the diaspora who have accumulated capital abroad can bring financial resources back to Portugal. The “Voltar” programme aims to facilitate such investment, turning emigrants into entrepreneurs and investors in local businesses or startups.
Multiplier Effect on Productive Chains
The return of professionals with global experience can drive innovation and the transfer of international best practices to Portuguese companies. This, in turn, boosts productivity, competitiveness, and value creation in industries seeking to raise their standards.
Strengthening International Image and Economic Diplomacy
Portugal projects confidence when it provides institutional support to welcome its citizens back. An engaged diaspora can serve as an economic ambassador, building trade networks, attracting partnerships, and supporting exports.
Challenges and Caution Points to Manage
- Fiscal cost: incentives and subsidies inevitably impact public finances, which must balance short-term expenditure with long-term economic return.
- Regulatory and bureaucratic resistance: for the programme to succeed, processes related to consular, tax, and professional recognition must be simplified.
- Equitable opportunities: returning citizens must find job markets compatible with their skills and expectations — otherwise, re-migration could follow.
Portugal stands at a strategic crossroads: by valuing those who left, it acknowledges that the diaspora can become a true engine of national growth — not just a symbolic gesture, but one with tangible economic merit. For businesses and investors, this shift opens new opportunities: access to skilled talent, potential capital inflows, and renewed connections with global markets.
