The Portugal Golden Visa remains one of the most attractive options for those seeking to obtain Portuguese citizenship, gain free access to the Schengen Area, and have the opportunity to hold a Portuguese passport.
What is the Portugal Golden Visa?
The Golden Visa program in Portugal, also known as the Residence Permit Program, is an investment immigration program that grants residency and citizenship rights to foreign investors who make a significant economic contribution to the country. It was introduced in 2012 to attract foreign investment and stimulate the Portuguese economy.
The Golden Visa program in Portugal provides an expedited pathway for individuals to obtain Portuguese citizenship by investment, thereby granting them a Portuguese passport. With this passport, individuals gain the freedom to live and work in any European Union country.
Overview of the Portugal Golden Visa
Portugal’s Golden Visa program was designed to attract international investment, offering a range of benefits to participants, including what is often referred to as a “golden passport.” This program grants investors and their families significant rights and opportunities.
Key features of the program include:
- Diverse investment options: Options range from cultural or artistic contributions, investment funds, and business setups to private scientific research.
- Affordable minimum investment: Starting from €250,000, with venture capital funds requiring a minimum of €500,000.
- Family inclusion: Applications can include a spouse, dependent children, and parents.
- Low residency requirement: Just seven days in the first year and 14 days every two years thereafter.
- Visa-free travel: Access to EU and Schengen Zone countries without a visa.
- Pathway to citizenship: Eligibility for Portuguese citizenship after five years.
Portugal's Golden Visa no longer includes real estate purchases
As of October 2023, Portugal’s Golden Visa Program has undergone major reforms, eliminating real estate purchases and real estate-related funds as qualifying investment options. While real estate is no longer an eligible route, the program still offers several other attractive investment opportunities. This guide outlines the remaining pathways for obtaining the Golden Visa.
Benefits of the Portugal Golden Visa Program
1. Mobility
Portugal’s Golden Visa provides visa-free entry and unrestricted travel across the Schengen Area, which includes 27 European countries. This benefit allows you and your family to explore Europe without the hassle of obtaining separate visas for each country.
Whether for business, leisure, or education, the freedom to travel seamlessly is a significant advantage for Golden Visa holders. Additionally, the program simplifies travel for international investors with global commitments.
2. Live, Work, and Study
As a Golden Visa resident, you have the right to live in Portugal, a country known for its safety, high quality of life, and welcoming culture. You can work in any field, start your own business, or operate as an independent professional without restrictions.
Furthermore, you gain access to Portugal’s National Education Service, which includes public schools, universities, and vocational training programs. This ensures your family can benefit from high-quality education, whether in local institutions or in international schools located throughout the country.
3. Short Stay Requirement
One of the most attractive features of the Portugal Golden Visa is its low residency requirement. You only need to spend seven days in Portugal during the first year of your residency and an additional 14 days for every subsequent two-year period.
This allows you to maintain your primary residence or business activities in another country while fulfilling the program’s requirements. The short stay ensures flexibility for global investors who cannot commit to long-term residency but still want the benefits of the program.
4. Flexible Investment Options
Portugal’s Golden Visa offers a variety of investment pathways, starting at €250,000, making it accessible to a range of investors. Options include contributions to cultural or artistic projects, private research institutions, or venture capital funds. These flexible routes cater to different financial goals, allowing investors to align their investment with their interests.
Whether you prefer to support scientific innovation, contribute to cultural heritage, or invest in high-growth funds, the program offers tailored opportunities for success.
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.
The following family members qualify for inclusion through family reunification:
- Spouse or legal partner
- Children under 18 years old
- Adult children who are single, financially dependent, and enrolled as full-time students
- Parents of the main applicant or their spouse/partner who are financially dependent, with those under 65 requiring 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 citizenship is granted, applicants can obtain a Portuguese passport, opening doors to numerous global opportunities.
Portuguese citizenship offers the full benefits of being a European Union (EU) citizen, including the right to live, work, and study in any EU member state without restrictions. Additionally, a Portuguese passport provides visa-free or visa-on-arrival access to 188 countries, making 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 the following requirements:
- Clean Criminal Record: Applicants must have no criminal record. If there are any concerns, it’s advisable to consult with a lawyer who can assess your case.
- Non-EU, Non-Swiss, or Non-EEA Nationality: The program is open exclusively to individuals who are not citizens of the European Union (EU), Switzerland, or the European Economic Area (EEA).
- Minimum Investment: Make a minimum qualifying investment of €250,000. A variety of investment routes are available, allowing you to choose the option that best suits your financial and personal goals.
- Residency Requirement: Spend an average of 7 days per year in Portugal, ensuring a total of 14 days during the two-year validity period of each residence card. This requirement makes it convenient for those who cannot commit to full-time residency.
Portugal Golden Visa for US Citizens
The Portugal Golden Visa program offers US citizens the opportunity to gain residency in Europe, benefiting from Portugal’s affordable cost of living, high quality of life, and strategic location. With minimal residency requirements, Americans can choose to relocate permanently or use it as an investment opportunity while enjoying the flexibility to maintain their lifestyle in the US.
Portugal’s lower living costs, especially compared to cities like New York or San Francisco, make it an appealing option for retirees and families. Additionally, the Non-Habitual Residency (NHR) tax regime provides significant tax incentives for foreign income, making Portugal a financially attractive destination.
Golden Visa holders gain visa-free access to the Schengen Area and, after five years, can apply for Portuguese citizenship. This opens the door to EU benefits, including free movement, work, and study opportunities across member states, making Portugal an excellent choice for global mobility and a secure future.
Portugal Golden Visa for UK Citizens
Post-Brexit, the Portugal Golden Visa program offers UK citizens a chance to maintain ties to the European Union. As third-country nationals, Britons can apply for residency in Portugal, enjoying its affordable living costs, beautiful landscapes, and welcoming environment.
Portugal’s affordability compared to other Western European countries, coupled with its excellent healthcare and expat-friendly culture, makes it a top choice for UK nationals. Many view it as an ideal location for retirement, remote work, or owning a second home while enjoying a peaceful Mediterranean lifestyle.
With the Golden Visa, UK citizens can pursue Portuguese citizenship after five years of residency, restoring their access to EU rights such as free movement and work opportunities across member states. For Britons seeking a European connection post-Brexit, Portugal is an ideal solution.
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.
Investment Options no longer available
Until recently, Portugal’s Golden Visa program offered several popular investment options that are no longer available, such as:
- Real Estate Investment: Purchase a property in Portugal valued at over €500,000.
- Real Estate Rehabilitation: Invest in a property older than 30 years or located in an urban regeneration area, with a total investment (including refurbishments) of at least €350,000.
- Capital Transfer: Transfer a minimum of €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 documentation required for the Portugal Golden Visa and listed below can be subject to 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, which can be in the form of a recent utility bill, or a recent bank statement
- Proof of having obtained health insurance valid in Portugal.
- Proof of professional occupation, such as a letter issued by 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 real estate, capital transfer, 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.
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.
Application Waiting Time Now Counts Towards Citizenship
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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Frequently Asked Questions About Portugal Golden Visa
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?
Yes, 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?
Yes, 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?
Yes, 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 Porrtugal Golden Visa?
The government fees are subject to annual adjustments. Presently, there is an analysis fee of €581.76 per person, €5,817.60 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.
