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Launched in 2012, Portugal’s residency-by-investment program has become one of Europe’s most attractive pathways to citizenship. It appeals to global investors, retirees, and families seeking long-term opportunities in Europe.
Through this Portuguese Golden Visa, applicants gain European residency by making eligible investments. Key benefits include visa-free travel across the Schengen Area, access to Portugal’s exceptional quality of life, and the opportunity to obtain Portuguese citizenship after just five years.
For many, the main question is what makes this European residency program stand out and how it supports a long-term immigration strategy in today’s world.
What is the Portugal Golden Visa?
The Portugal Golden Visa is a residency-by-investment program. It started in 2012 to bring foreign money into the country.
It lets non-EU citizens get a Portuguese residence permit. You do this by making a smart investment. Your options include investment funds, job creation, or cultural projects.
With the Golden Visa, investors and their families can live, work, and study in Portugal. You only need to spend 7 days per year in the country. That’s really easy to manage.
The visa also gives you visa-free travel across the Schengen Area. After 5 years, you can apply for permanent residency or Portuguese citizenship. This makes it one of the best EU investment programs.
Overview of the Portugal Golden Visa
Portugal’s Golden Visa program was made to attract international investment. It offers many benefits to people who join. Some call it a “golden passport” program.
This program gives investors and their families important rights and chances. Key features include:
- Different investment options: You can choose from cultural contributions, investment funds, business setups, or private scientific research.
- Low minimum investment: Starting from €250,000. Venture capital funds need a minimum of €500,000.
- Family inclusion: You can include your spouse, children, and parents in your application.
- Low residency requirement: Just seven days in the first year. Then, 14 days every two years after that.
- Visa-free travel: Access to EU and Schengen Zone countries without a visa.
- Path to citizenship: You can get Portuguese citizenship after five years.
Portugal's Golden Visa no longer includes real estate purchases
As of October 2023, Portugal’s investment immigration program has undergone major changes. Real estate purchases and property-related funds are no longer allowed.
Real estate investment is no longer eligible. But the program still offers other great investment chances. These are perfect for people seeking Portuguese residency.
The government made this change to focus investment on other areas. This helps Portugal’s economy in different ways.
Benefits of the Portugal Golden Visa Program
1. Mobility
Portugal’s Golden Visa gives you visa-free entry and unlimited travel across the Schengen Area. This includes 27 European countries.
This benefit lets you and your family explore Europe easily. You don’t need to get separate visas for each country. Whether for business, fun, or education, the freedom to travel easily is huge. Golden Visa holders really value this.
The program also makes travel easier for international investors. These people often have business around the world.
2. Live, Work, and Study
As a Portuguese residency holder, you can live in Portugal. The country is known for safety, a high quality of life, and a welcoming culture.
You can work in any field you want. You can start your own business. You can work as an independent professional without limits.
You also get access to Portugal’s National Education Service. This includes public schools, universities, and training programs. Your family gets high-quality education. You can choose local schools or international schools throughout the country.
3. Short Stay Requirement
One of the best features of the Portugal Golden Visa is its low residency requirement.
You only need to spend seven days in Portugal during the first year. Then you need 14 days every two years after that.
This lets you keep your main home or business in another country. You can still meet the program’s requirements. The short stay gives flexibility to global investors. These people can’t commit to long-term living but still want the benefits.
4. Flexible Investment Options
Portugal’s Golden Visa offers many investment pathways. They start at €250,000. This makes it accessible to many investors.
Options include money for cultural or artistic projects. You can also invest in private research institutions or venture capital funds.
These flexible routes work for different financial goals. Investors can match their investment with their interests. You might want to support scientific innovation. You might want to help with cultural heritage. Or you might want to invest in high-growt
5. Family Reunification
Portugal’s Golden Visa Program allows you to include your dependent family members in the application, granting them the same rights and opportunities in a safe and stable country.
These family members qualify for inclusion through family reunification:
- Spouse or legal partner
- Children under 18 years old
- single Adult children, depend on you financially, and study full-time
- Parents of the main applicant or their spouse/partner who depend on you financially. Those under 65 need proof of dependence
6. European Citizenship
After five years of legal residency in Portugal, Golden Visa holders become eligible to apply for permanent residency and Portuguese citizenship, provided they meet the necessary requirements, such as maintaining their investment and fulfilling basic language and integration criteria.
Once you get citizenship, you can get a Portuguese passport. This opens doors to many global opportunities.
Portuguese citizenship offers the full benefits of being a European Union (EU) citizen. You can live, work, and study in any EU member state without limits.
A Portuguese passport also gives visa-free or visa-on-arrival access to 188 countries. This makes it one of the most powerful passports in the world.
Portugal Golden Visa Eligibility
To qualify for Portugal’s Golden Visa program, you must meet these requirements:
- Clean Criminal Record: You must have no criminal record.
- Non-EU/Swiss/EEA Nationality: Only for those individuals.
- Minimum Investment: Make a minimum qualifying investment of €250,000.
- Residency Requirement: Spend an average of 7 days per year in Portugal.
Portugal Golden Visa for US Citizens
The Portugal Golden Visa program offers US citizens the chance to gain residency in Europe. They benefit from Portugal’s affordable cost of living, high quality of life, and great location.
With minimal residency requirements, Americans can choose to move permanently. Or they can use it as an investment opportunity while enjoying flexibility. They can keep their lifestyle in the US.
Portugal’s lower living costs are appealing. This is especially true compared to cities like New York or San Francisco. This makes it great for retirees and families.
The Non-Habitual Residency (NHR) tax regime gives big tax benefits for foreign income. This makes Portugal financially attractive.
Golden Visa holders get visa-free access to the Schengen Area. After five years, they can apply for Portuguese citizenship.
This opens the door to EU benefits. These include free movement, work, and study chances across member states. This makes Portugal great for global mobility and a secure future.
Portugal Golden Visa for UK Citizens
After Brexit, the Portugal Golden Visa program offers UK citizens a chance to keep ties to the European Union.
As third-country nationals, British people can apply for residency in Portugal. They enjoy affordable living costs, beautiful landscapes, and a welcoming environment.
Portugal’s affordability compared to other Western European countries is great. It has excellent healthcare and an expat-friendly culture. This makes it a top choice for UK nationals.
Many see it as perfect for retirement, remote work, or owning a second home. They enjoy a peaceful Mediterranean lifestyle.
With the Golden Visa, UK citizens can pursue Portuguese citizenship after five years of residency. This restores their access to EU rights. These include free movement and work chances across member states.
For British people seeking a European connection post-Brexit, Portugal is perfect.
Investment Options for Portugal Golden Visa
1. Golden Visa Investment Funds
Contribution of €500,000 or higher, for the acquisition of units of investment funds or venture capital fund of funds under the Portuguese legislation, whose maturity, at the moment of the investment, is, at least, of five years and, at least, 60% of the investments is realized in commercial companies with head office in national territory.
2. Golden Visa Cultural Donation
Known as the Cultural Golden Visa, donation of a minimum of €250,000 for investing in artistic output or supporting the arts, for reconstruction or refurbishment of the national heritage, through the local and central authorities, public institutions or, private foundations of public interest.
If the investment takes place in a ‘low-density’ area, then a 20 percent discount applies.
3. Scientific research
Transfer €500,000 or more for research investment in public or private scientific institutions participating in the national system. If the investment is located in a designated ‘low-density’ area, then a 20 percent discount applies.
4. Company Set-up
Foreign entrepreneurs and investors can contribute to Portugal’s economy by establishing or investing in businesses, with the potential to create new jobs. There are two main investment options in this category:
- Establish a new company in Portugal: Invest a minimum of €500,000 in share capital and create at least five permanent jobs.
- Invest in an existing Portuguese company: Increase its share capital by €500,000 and create a minimum of five new full-time jobs for at least three years.
5. Creation of 10 Jobs
Under the program, investors are required to create a minimum of ten full-time jobs. In low-density population areas, this requirement is reduced to eight, thanks to a 20% reduction incentive.
All jobs created must comply with Portugal’s labor laws and social security regulations, ensuring fair and legal employment practices.
Golden Visa Investment Options no Longer Available
Until recently, Portugal’s investment visa offered several popular options that are no longer available:
- Real Estate Investment: Purchase property in Portugal valued over €500,000
- Real Estate Rehabilitation: Invest in property older than 30 years or in urban regeneration areas, with a total investment of at least €350,000
- Capital Transfer: Transfer a minimum €1.5 million into Portugal
Portugal Golden Visa Requirements
Minimum Stay Requirement
The Portugal Golden Visa program requires a minimum stay of seven days during the initial year, followed by an additional requirement of 14 days for each subsequent two-year period.
When applying for visa renewals, the Portuguese border agency may request evidence of your compliance with the minimum stay requirements.
This evidence can be provided in the form of passport stamps, flight tickets, and proof of accommodation.
It is important to note that your eligibility for permanent residency or citizenship after five years is not affected by the actual duration of your stays in Portugal under this investment visa program, as long as you meet the minimum stay requirements.
Required Documents for the Portugal Golden Visa
The documents required for the Portugal Golden Visa are listed below. These can change at the discretion of the Portuguese Immigration Authorities.
- Golden Visa application • Valid passport and, if applicable, a valid Schengen visa, for each applicant.
- Criminal record certificate • Applicant’s permission for AIMA to access his/her Portuguese criminal record.
- Proof of residence. This can be a recent utility bill or a recent bank statement. • Proof of having health insurance valid in Portugal.
- Proof of professional occupation. A letter from the employer should be submitted.
- Documentary evidence of the eligibility of family member applicants.
- Certificate of no debts from the Portuguese tax and insurance offices.
- Signed statement affirming their commitment to meet the investment requirements.
- Evidence of the minimum investment. • Letter from a local bank confirming the funds’ transfer.
Translation and Legalization of Golden Visa Documents
All documents required for the Portugal Golden Visa application, including the application form, must be legalized, translated into Portuguese, and certified.
Legalization can be done through the Portuguese Consulate or by obtaining an apostille under The Hague Apostille Convention, depending on the applicant’s country of origin.
Any original documents submitted as part of the Portugal Golden Visa application must include an official Portuguese translation. This translation must be certified by one of three authorized agents: a Portuguese Consulate, a Portuguese lawyer, or an official notary.
Proper translation and certification are essential to comply with legal requirements and to prevent any delays in the application process.
Obtaining a Portuguese NIF Number
The NIF (Número de Identificação Fiscal) is a tax identification number in Portugal, issued by the Portuguese tax authorities.
It is essential for a wide range of activities, including opening a bank account, purchasing property, signing contracts, paying taxes, and investing in the Golden Visa program.
As your taxpayer ID, the NIF is a vital piece of identification for anyone living, working, or doing business in Portugal.
Obtaining a NIF can be challenging due to the long queues and limited appointments at tax offices in Portugal.
However, Portugal Residency Advisors® can handle the entire application process on your behalf, including appointing a legal representative to manage the application, ensuring a smooth and hassle-free experience.
Opening a Portuguese Bank Account
For the Golden Visa application, you’ll also need to open a Portuguese bank account. Unfortunately, not all banks in Portugal accommodate foreign citizens, making the process more complicated.
Portugal Residency Advisors® can assist you in opening your Portuguese bank account even before you arrive in the country, streamlining the process and ensuring compliance with all necessary requirements for the Golden Visa program.
Portugal Golden Visa Costs
AIMA Fees
When submitting your application, please take into account the Immigration Office AIMA fees, which encompass both the permit fees and biometrics/application fees.
These fees are applicable per person and it is important to note that they are subject to annual revisions.
Golden Visa Application Legal Fees
The legal application fees for Portugal’s Golden Visa generally range between €5,000 and €8,000 for a single applicant.
If you choose to include family members, the fees will increase depending on their age and the complexity of their applications.
For each family member, you can expect to pay an additional €500 to €2,000, depending on whether they are minors or adults.
Golden Visa Renewals Legal Fees
For renewing your Golden Visa application, you can expect to pay between €500 and €2,500 per applicant.
Please note that you are required to renew your Golden Visa twice during the five-year program.
Portugal Golden Visa Application Process
Step 1 – General Requirements
Familiarize yourself with the general requirements of the Golden Visa program, including eligibility criteria and necessary documentation.
Prepare the required paperwork, such as a valid passport, criminal record certificate, and other supporting documents.
Step 2 – Setup your NIF and Bank Account
To apply for the Portugal Golden Visa, you need to obtain a Portuguese Tax Number (NIF) and appoint a fiscal representative.
The NIF is a unique identification number that is required for tax purposes. Opening a bank account can be done remotely.
Step 3 – Complete your investment
Choose an eligible investment option, such as job creation, investment funds, or scientific research.
Make the required investment according to the specific criteria of your chosen option.
Step 4 – Online application
Submit your Golden Visa application online through the Agency for Integration, Migration and Asylum (AIMA) website.
Provide all the required information, upload the necessary documents, and pay the application fee.
Step 5 – Biometrics in Portugal
Once your application is submitted, schedule an appointment with AIMA in Portugal to provide your biometric data, including fingerprints and a photograph.
This step typically requires your physical presence in Portugal.
Step 6 – Golden Visa approval
After completing the biometric appointment, the AIMA will review your application. If all requirements are met and the application is approved, you will receive a residency permit (Golden Visa) valid for an initial period.
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Portugal Golden Visa Processing Time
Although the execution timings are the responsibility of the immigration authorities, here’s a summary of the Golden Visa timeline.
Portugal Golden Visa Renewal Process
The Golden Visa residency permits have an initial validity of 2 years and are subsequently renewed every 2 years.
The first renewal occurs at the conclusion of the second year, following the issuance of the residency card, while the second renewal takes place at the end of the fourth year.
Golden Visa Renewal Process
Golden Visas could be renewed online until 31 December 2023. Unfortunately, this option is no longer available, and Golden Visa renewals now require an in-person biometrics appointment.
While there is still a significant backlog of applications, AIMA’s streamlined focus on renewing existing applications is expected to help clear the backlog at a faster pace.
Golden Visa Renewals Requirements
Applicants must demonstrate they have met the required stay in Portugal: 7 days per year on average during the initial residency period (or 14 days over two years).
A valid passport is required for the main applicant and any dependents included in the renewal process.
Evidence that the qualifying investment has been maintained, such as:
- Property ownership documents (e.g., land registry certificate, tax records, or updated property deed).
- Proof of financial investments (e.g., bank statements or certificates).
- Documentation related to job creation or capital transfer investments, depending on the chosen route.
- A criminal record certificate issued within the last 90 days from the applicant’s country of origin or any country where they have resided for more than six months in the past year. A Portuguese criminal record certificate is also required.
- Certificates confirming no outstanding debts with Portuguese Tax Authority and Social Security.
For more videos about investing or moving to Portugal, explore our YouTube channel here: YouTube Channel Portugal Residency Advisors.
Golden Visa Application Backlog
In January 2024, the Portuguese parliament introduced significant amendments to the nationality law, offering much-needed relief to thousands of applicants impacted by delays in residency application processing by AIMA.
These changes aim to streamline the path to Portuguese nationality by reducing the waiting period requirements.
Previously, individuals seeking Portuguese nationality through naturalization were required to maintain residency in Portugal for a minimum of five years. Importantly, this five-year period only began once the initial residency permit was issued.
However, under the new law, which came into effect on 1 April 2024, the waiting time between the submission of a temporary residency permit application and its final approval will now count toward the required legal residency period for nationality, provided that the residency permit is ultimately granted.
This revision is a game-changer, particularly for Golden Visa applicants, as it addresses the delays caused by AIMA’s processing backlogs.
Under the old system, applicants faced rigid rules requiring the five-year residency period to begin only after the initial permit was issued, often resulting in extended waiting times.
The Portugal Golden Visa vs. the Spain Golden Visa
Spain and Portugal both provide safe, stable lifestyles in the heart of Europe, along with relatively straightforward paths to obtaining temporary residence permits.
However, there are key differences between their Golden Visa programs that are worth understanding.
One major advantage of the Portuguese Golden Visa program is its lower investment threshold, starting at just €250,000.
Additionally, investors in Portugal can become eligible for a European passport in just five years, while Spanish Golden Visa holders must wait ten years to apply for citizenship.
For a detailed breakdown, explore our Portugal vs. Spain Golden Visa comparison guide to help you decide which program best suits your needs.
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Local Expertise
We know Portugal. Due to our extensive local knowledge, we believe that concentrating our services in a single country destination is the best way to give you the most thorough and useful information.
Holistic Approach
One single channel of communication for the entire process. We provide you with a comprehensive service that covers all aspects of your investment and Golden Visa application.
Transparent Service
We recommend what’s best for you based on an extensive process experience that saves time and money to clients. Our pricing is clear and competitive, and we don’t sell services that make us more money.
Simple Process
Technology plays a very important role in our company. We minimize our clients’ involvement in paperwork. We are customers ourselves and we know how to serve you.
Frequently Asked Questions
What is the Portugal Golden Visa?
This program is classified as a second residence through investment initiative, whereby individuals who invest in Portugal are entitled to obtain residency status along with associated privileges, including access to education, social services, employment opportunities, and healthcare.
Furthermore, participants in this program gain entry to the Schengen area for a maximum of 90 days within every 180-day period. Additionally, after a period of five years, they become eligible to apply for Portuguese citizenship.
What are the investment options available for the Portugal Golden Visa program?
After the last changes from October, 7, 2023, the main investment options include job creation, investment funds, or scientific research.
What is the minimum investment
The minimum investment varies depending on the investment option chosen. For the investment in Arts and cultural heritage is €250,000.
Can family members be included in the Golden Visa application?
Yes, family members, such as a spouse, children, and dependent parents, can be included in the Golden Visa application.
What are the benefits of the Golden Visa Portugal program?
The program grants residency rights, allows visa-free travel within the Schengen Area, and provides access to healthcare (in case of tax resident) and education systems. After five years, it may lead to permanent residency or citizenship.
Do I need to learn Portuguese to apply for the Golden Visa?
No, there is no language requirement for the Portugal Golden Visa application.
Can I work in Portugal with a Golden Visa?
Yes, Golden Visa holders have the right to work and live in Portugal. They can also establish and manage businesses.
Can I apply for citizenship in Portugal through the Golden Visa program?
Certainly, after five years of holding a Golden Visa and meeting certain requirements, it is possible to apply for Portuguese citizenship by investment.
Can I include my children who are over 18 years old in the Golden Visa application?
Sure, dependent children who are over 18 years old and financially dependent on the main applicant can be included in the application.
Are there any tax obligations for Golden Visa holders in Portugal?
As a resident in Portugal, you will have tax obligations. It is important to consult with a tax advisor to understand your specific tax liabilities and obligations.
Can I include other family members, such as
No, the Golden Visa program only allows for the inclusion of a spouse, dependent children, and dependent parents in the application.
Is the Golden Visa Program still in force?
Yes, the program was established back in 2012 and has undergone recent revisions, resulting in the removal of certain investment options tied to the real estate sector. This updated legislation has been in effect since October 2023.
Is it mandatory for me to live in Portugal with the Golden Visa?Pergunta 10
No, Golden Visa holders are required to spend a minimum of 14 days in Portugal every two years. Therefore, the Golden Visa typically does not have an immediate tax impact on a personal level unless the applicant chooses to make Portugal their permanent residence.
What are the current available options of investment?
i) Creation of minimum of 10 job positions.
ii) Transferring a minimum capital of €500,000, allocated to research activities conducted by public or private scientific research institutions integrated into the national scientific and technological system.
iii) Transferring a minimum capital of €250,000, earmarked for investment in or support of artistic production, restoration, or preservation of the national cultural heritage, in collaboration with accredited public entities or private foundations with public utility status.
iv) Transferring a minimum capital of €500,000, intended for the acquisition of shares in non-real estate collective investment entities established under Portuguese law, with a minimum maturity of five years at the time of investment, and where at least 60% of the investments’ value is directed toward companies based in Portugal.
v) Transferring a minimum capital of €500,000, either for establishing a company headquartered in Portugal while creating a minimum of 5 permanent job positions or for increasing the social capital of an already established company in Portugal, with the creation of at least 5 permanent jobs or the preservation of at least 10 jobs, including a minimum of 5 permanent employees, for a minimum period of 3 years.
Are there any advantages to investing in Portugal's interior regions?
Indeed, the Job Creation, Cultural, and Scientific investment options offer a 20% reduction in the minimum investment requirement when situated within municipalities and parishes designated as “interior territories” with fewer than 100 inhabitants per square kilometer or a per capita gross domestic product (GDP) below 75% of the national average.
Is any type of real estate investment eligible?
No, recent revisions to the law have prohibited all forms of real estate investment, whether direct or indirect, regardless of the chosen investment option.
It is obligatory to open a Portuguese bank account for the Portugal Golden Visa?
No, there is no mandatory requirement. Nevertheless, the law does stipulate the need for a declaration issued by a bank authorized to operate in Portugal, verifying the utilization of foreign capital in the investment. Therefore, it is strongly advisable for each investor to establish a bank account.
Does the Golden Visa require renewals?
Yes, Golden Visa residency permits have an initial validity of 2 years and are subsequently renewed every 2 years. The updated legislation does not impede the renewal of existing cases, including those granted based on investment options that have since been revoked.
What is the current Portugal Golden Visa processing time?
At present, applications may require between 18 to 24 months for processing. The processing authority, AIMA, is currently undergoing restructuring, and a new entity is expected to take over administrative processing of residence applications in 2023. This transition could potentially have a substantial impact on processing times.
What is the cost of the Portugal Golden Visa?
The government fees are subject to annual adjustments. Presently, there is an analysis fee of €618.60 per person, €6,179.40 per person for each initial card, and half of this amount for card renewals.
Is the Portugal NHR ended?
No, the Portuguese government launch a new NHR (Non-Habitual Resident) program that offer attractive tax incetives for the portuguse sourced income.
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