Portugal’s Golden Visa program remains an attractive opportunity for non-European Union nationals seeking residency in Portugal through a qualifying investment. This program provides a pathway to live, work, and eventually apply for citizenship after meeting the necessary requirements.
Traditionally, investments in real estate were the most popular route for obtaining the Golden Visa. However, as of October 2023, real estate investments, including residential and commercial properties in all country, are no longer eligible for the program.
Despite this change, several alternative investment options continue to offer diverse and appealing pathways to Golden Visa eligibility. These include investments in regulated venture capital funds, cultural donations, and business creation or expansion initiatives.
Portugal Golden Visa Overview
Portugal’s Golden Visa program is designed to attract international investment while offering a range of benefits to participants, often referred to as a “golden passport.” This program provides investors and their families with significant rights, opportunities, and a pathway to European citizenship.
Key Features of the Program:
- Diverse Investment Options:
Investors can choose from a variety of qualifying investments, including contributions to cultural or artistic projects, regulated investment funds, business creation, or private scientific research. - Affordable Minimum Investment:
Investment thresholds start as low as €250,000 for cultural donations, with a minimum of €500,000 for venture capital funds. - Family Inclusion:
The Golden Visa application allows the inclusion of family members, such as a spouse, dependent children, and dependent parents. - Low Residency Requirement:
Applicants only need to reside in Portugal for seven days in the first year and 14 days in subsequent two-year periods, making it ideal for those with global commitments. - Visa-Free Travel:
Holders of the Golden Visa gain visa-free access to EU and Schengen Zone countries, offering unparalleled travel flexibility. - Pathway to Citizenship:
After five years of holding the Golden Visa and meeting the requirements, investors and their families are eligible to apply for Portuguese citizenship, granting full EU rights and benefits.
Portugal Golden Visa Real Estate Investment
Since October 7, 2023, it is no longer possible to buy a property in Portugal and qualify for the Portugal Golden Visa. Before this change, the following investment options were available under the Golden Visa program:
- Residential properties in designated interior areas of Portugal required a minimum investment of €500,000 or €350,000 if the property was part of a rehabilitation project. If the property was located in a designated ‘low-density’ area, a 20% discount applied, reducing the minimum investment to an accessible €280,000 for Golden Visa eligibility.
- Commercial properties could be purchased anywhere in Portugal with the same investment thresholds: €500,000 for standard purchases or €350,000 for rehabilitation projects. Similar to residential properties, commercial real estate located in ‘low-density’ areas qualified for a 20% discount.
- Purchase either residential or commercial properties on the Portuguese autonomous islands of Madeira and the Azores. These properties required a minimum investment of €500,000 or €350,000 for rehabilitation projects.
This Golden Visa Portugal real estate map illustrates the high- and low-density areas (Green) that were available to investors prior to the recent changes.
Why has real estate acquisition been removed as an option for Golden Visa investors?
The real estate route was removed from Portugal’s Golden Visa program as part of the government’s efforts to address the sharp increase in housing prices. This surge in prices had been driven in large part by high demand from foreign investors, particularly in high-density urban areas such as Lisbon, Porto, and parts of the Algarve.
By eliminating residential real estate as a qualifying investment for the Golden Visa, the government aims to reduce pressure on the housing market and make properties more accessible to local residents.
Portugal remains a highly attractive destination for property investors due to its favorable climate, stunning landscapes, rich culture, and robust rental market.
Golden Visa Investment Options: Alternative to Real Estate
1. Investment Funds
Invest a minimum of €500,000 in qualifying investment or venture capital funds governed by Portuguese legislation. These funds must have a maturity of at least five years at the time of investment, with at least 60% of their portfolio invested in commercial companies headquartered in Portugal.
2. Cultural Donation
Often referred to as the “Cultural Golden Visa,” this option involves a minimum donation of €250,000 to support artistic endeavors or heritage restoration projects. Eligible investments can be made through local or central government bodies, public institutions, or private foundations of public interest.
Investments in low-density areas benefit from a 20% discount, reducing the threshold to €200,000.
3. Scientific Research
Investors can contribute €500,000 or more to research and development projects within Portugal. Investments must support public or private scientific research institutions that are part of the national scientific system. In low-density areas, this threshold is reduced by 20%, requiring an investment of €400,000.
4. Business Investment
Entrepreneurs and investors have the opportunity to contribute to Portugal’s economic growth by either establishing new businesses or expanding existing ones. To set up a new company, an investment of at least €500,000 in share capital is required, along with the creation of a minimum of five permanent jobs.
Alternatively, investors can inject a minimum of €500,000 into the share capital of an existing Portuguese company, provided they meet the job creation requirements outlined by the Portuguese government.
5. Job Creation
Investors can qualify by creating at least ten full-time jobs in Portugal. For investments in low-density areas, the job creation requirement is reduced to eight, thanks to a 20% reduction incentive. All jobs must comply with Portuguese labor laws and include social security contributions, ensuring legal and ethical employment practices.
Portugal Golden Visa Requirements
To be eligible for the Portuguese Golden Visa, applicants must meet the following criteria:
Portugal Golden Visa Eligibility
To qualify for Portugal’s Golden Visa program, you must:
- Have a Clean Criminal Record: Applicants must have no criminal history; legal advice is recommended if needed.
- Be a Non-EU, Non-EEA, or Non-Swiss Citizen: The program is exclusively for individuals outside these regions.
- Make a Qualifying Investment: A minimum investment of €250,000 in one of the eligible pathways.
- Meet the Residency Requirement: Spend an average of 7 days per year in Portugal, totaling 14 days for every two-year residence card period.
Golden Visa Investment
Minimum Stay Requirement
The Portugal Golden Visa program requires a minimum stay of seven days during the first year and 14 days during each subsequent two-year period.
When renewing your visa, the Portuguese border agency may request proof of compliance with these stay requirements. Acceptable evidence includes passport stamps, flight tickets, and proof of accommodation.
It is important to note that eligibility for permanent residency or citizenship after five years is not dependent on extended stays in Portugal, as long as the minimum stay requirements are met. This makes the program ideal for those with limited time to spend in the country.
Portuguese NIF Number
The NIF (Número de Identificação Fiscal) is a Portuguese tax identification number required for activities like opening a bank account, buying property, paying taxes, and participating in the Golden Visa program. It is essential for anyone living, working, or investing in Portugal.
Obtaining a NIF can be time-consuming due to long queues and limited appointments at tax offices. Portugal Residency Advisors® can simplify the process by handling the application and appointing a legal representative, ensuring a hassle-free experience.
Portuguese Bank Account
As part of the Golden Visa application, opening a Portuguese bank account is required. However, not all banks in Portugal cater to foreign citizens, which can make the process more challenging.
Portugal Residency Advisors® can simplify this by assisting you in opening a Portuguese bank account remotely, even before your arrival. This ensures a smooth process and full compliance with all requirements for the Golden Visa program.
Invest in Portugal Real Estate in 2025
Buying property in Portugal remains an attractive option for investors, despite the fact that it no longer qualifies for the Golden Visa program. The Portuguese real estate market is stable and continues to show consistent growth, making it a solid choice for those looking to invest in a country with a strong economy and high demand for rental properties.
How Portugal Residency Advisors Can Assist
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 About Portugal Golden Visa Properties
What is the Portugal Golden Visa?
The Portugal Golden Visa is a residency-by-investment program that allows non-EU, non-EEA, and non-Swiss nationals to obtain Portuguese residency by making a qualifying investment in the country.
What are the qualifying investment options for the Golden Visa?
Investments include:
- A minimum of €500,000 in investment funds.
- A €250,000 cultural donation.
- A €500,000 investment in scientific research.
- Establishing a company or investing €500,000 in an existing business while creating jobs.
- Creating at least 10 jobs (reduced to 8 in low-density areas).
Does real estate still qualify for the Golden Visa?
No, residential real estate in high-density areas is no longer eligible. However, commercial properties and properties in low-density areas or rehabilitation projects may still qualify.
What are the residency requirements for Golden Visa holders?
Holders must stay in Portugal for at least 7 days in the first year and 14 days during each subsequent two-year period.
Can family members be included in the Golden Visa application?
Yes, the program allows for family reunification, including a spouse, dependent children, and dependent parents.
How long does it take to obtain a Golden Visa?
The process can take several months, depending on the complexity of the application and the responsiveness of Portuguese authorities.
Can Golden Visa holders apply for citizenship?
Yes, after five years of holding the Golden Visa, applicants can apply for Portuguese citizenship, provided they meet all legal requirements.
Do Golden Visa holders need to pay taxes in Portugal?
Not necessarily. If Golden Visa holders do not reside in Portugal for more than 183 days a year, they are generally not considered tax residents. However, specific circumstances may vary, so consulting a tax advisor is recommended.
Can the investment be withdrawn after five years?
Yes, once the five-year commi
Is the Portugal Golden Visa still a good option in 2025?
Yes, despite changes to the program, the Golden Visa remains one of the most affordable and flexible residency-by-investment programs in Europe, offering a pathway to citizenship and access to the EU.
