Portugal’s Golden Visa program is a five-year residency-by-investment initiative for non-EU citizens. This program grants qualifying investors and their families the right to live, work, and study in Portugal, as well as visa-free travel within Europe’s Schengen Area.
This article offers a detailed overview of the Portuguese Golden Visa program’s all-time statistics, from its inception to September 2024 – the latest official data. It highlights the program’s global appeal among non-EU nationals and explores its impact and prospects for the future.
Portugal Golden Visa Top Nationalities
Portugal’s Golden Visa program has drawn investors globally, with Chinese nationals leading the way at 5,319 visas, followed by Brazilians with 1,203 visas. China’s dominance reflects the appeal of EU access and investment diversification, while Brazil’s historical ties and shared language make Portugal an attractive option.
The United States ranks third with 635 visas, driven by growing interest in global mobility amid political and economic uncertainties. Turkey (571 visas) and South Africa (532 visas) follow, as investors seek Portugal’s safety, stability, and quality of life. This diversity underscores the program’s global reach and enduring appeal.
Portugal Golden Visa Family Reunification
Since its launch, Portugal’s Golden Visa program has granted residency permits to 12,037 main applicants, showcasing its popularity among investors worldwide. Beyond providing a pathway for individual investors, the program has also played a crucial role in family reunification, with 19,600 permits issued to family members of Golden Visa holders.
This reflects the program’s appeal as a family-friendly solution for those seeking European residency. By including spouses, dependent children, and parents in the application, the Golden Visa program not only secures investment but also fosters family stability, making Portugal an attractive destination for individuals seeking a better quality of life for their loved ones.
Types of Investment Portugal Golden Visa
Portugal’s Golden Visa program has experienced a noticeable shift in investment preferences following legislative changes that restricted residential real estate investment in major cities such as Lisbon, Porto, and coastal areas. These changes, aimed at decentralizing investments and promoting alternative sectors, have significantly impacted the share of investment routes within the program.
Real estate, which once dominated Golden Visa investments with a share of 93.2% in 2019, steadily declined to 68.3% in 2023. This decline became particularly visible after the restrictions were introduced in 2022, further limiting qualifying residential real estate in urban hotspots. As real estate investment waned, alternative pathways gained traction, most notably investment funds.
The share of investment in venture capital and private equity funds rose dramatically, from just 0.6% in 2019 to an impressive 28.6% in 2023. This shift highlights the growing appeal of fund investments, which offer a more diversified, flexible, and lower-risk option compared to real estate.
US Citizens Investment
The participation of U.S. citizens in Portugal’s Golden Visa program has grown substantially over recent years, surpassing 20% of total applications by September 2023. This marks a significant increase from just 5.2% in 2019, reflecting a growing trend among Americans seeking residency in Portugal.
The steady rise—from 6.4% in 2020 to 11.8% in 2021, and 16.9% in 2022—highlights a clear shift in preference, with U.S. citizens emerging as one of the dominant nationalities in the program. This growth aligns with increased awareness of Portugal’s benefits, such as a favorable tax system, a high quality of life, and visa-free travel across Europe’s Schengen Area.
The trend became even more pronounced after September 2023, with U.S. applications continuing to rise at an accelerated pace. The political environment in the United States plays a significant role in this growth, as factors like economic uncertainty, political polarization, and concerns about safety and stability have driven more Americans to explore opportunities abroad.
Portugal, with its reputation as a safe and welcoming country, has become a top choice for Americans seeking a reliable second residency or relocation option.
Portugal Golden Visa Investment Fund
Since its inception in October 2012, the Portuguese Golden Visa program has experienced remarkable growth in the investment funds category, particularly over the past five years. Investment in this option has surged from €3.1 million in 2019 to an impressive €88.3 million by September 2023, showcasing its increasing popularity among global investors.
The dramatic rise between 2021 and 2023 reflects not only the impact of Portugal’s policy reforms but also a growing preference for fund-based investments due to their diversification potential, and tax efficiency. These investments align with the interests of high-net-worth individuals seeking EU residency without the traditional real estate commitment.
This growth has been particularly evident among U.S. citizens, who represent a rapidly expanding demographic in the program. The flexibility, minimal physical presence requirements, and tax advantages offered by the fund investment route have attracted American investors seeking both wealth preservation and global mobility.
Highlights of the Golden Visa Program
Portugal’s Golden Visa program was designed to attract international capital and now offers investors a pathway to residency with numerous benefits. The program is often seen as a “golden passport,” granting participants significant rights and privileges.
Key highlights of the program include:
- A range of affordable investment options, including cultural and artistic donations, investment funds, business creation, and contributions to private scientific research institutions.
- Minimum investment requirements starting at €250,000, with venture capital fund investments starting at €500,000.
- A low physical presence requirement: seven days in Portugal during the first year, followed by 14 days every two years thereafter.
- Inclusion of family members in the application, such as a spouse, dependent children, and parents.
- A pathway to Portuguese citizenship after five years of maintaining the investment.
- Visa-free travel across the European Union and the Schengen Area.
Achievements and Highlights in Portugal
Lisbon
- Awarded “Best City Break Destination” in 2024 at the 25th edition of the Star Awards.
- Ranked as the best capital to visit in Europe by VisaGuide.World with a score of 29.83.
- Named the best-value location for a European city break by the Post Office Travel Money City Costs Barometer.
Porto
- Ranked 10th in the “Best Cities in the World: 2024 Readers’ Choice Awards” by Condé Nast Traveller readers.
- Listed as the 10th best city in the world by Time Out magazine.
- Ranked 10th among the world’s fastest-growing luxury real estate markets by Knight Frank’s 2023 Wealth Report.
The Algarve
- Vilamoura awarded “Best International Marina” for the seventh time in eight years by The Yacht Harbour Association (TYHA).
- Quinta do Lago’s South Course awarded “Europe’s Best Golf Course” and “Portugal’s Best Golf Course” at the 2022 World Golf Awards.
- Falésia Beach crowned the best beach in the world by TripAdvisor’s Travellers’ Choice Awards.
Madeira
- Chosen as the best islands in Europe in Condé Nast Traveller’s 2024 Readers’ Choice Awards.
- Ranked as the third most exclusive destination in Europe, after Marbella (Spain) and Positano (Italy), by European Best Destinations.
The Azores
- Won “Best Adventure Destination in Europe” in 2024 by the World Travel Awards.
- Faial Island recognized for its last large volcanic eruption from 1957 to 1958.
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Frequently Asked Questions About Portugal Golden Visa Statistics 2025
How many Golden Visas has Portugal issued since the program began?
Since its launch in 2012, Portugal has issued over 11,000 Golden Visas to investors and more than 18,000 to their family members.
Which countries have the most Golden Visa applicants?
China leads as the top country of origin for Golden Visa applicants, followed by Brazil, the United States, Turkey, and South Africa.
What percentage of Golden Visas are issued for real estate investments?
Historically, around 90% of Golden Visas were issued through real estate investments, making it the most popular investment option before recent changes.
How much revenue has the Golden Visa program generated for Portugal?
The program has attracted over €6.5 billion in investments since its inception, with the majority coming from real estate transactions.
What is the average age of Golden Visa investors?
The average age of Golden Visa investors ranges from 40 to 55, with a mix of individuals seeking residency for family relocation and retirement planning.
How many Golden Visas are issued annually?
Portugal issues approximately 1,000 to 1,500 Golden Visas to investors each year, along with thousands more to their family members.
What is the average processing time for Golden Visa applications?
The average processing time is 12 to 18 months, although delays have been reported in recent years due to administrative backlogs.
How many Golden Visa applications come from Americans?
The number of American applicants has surged in recent years, with the U.S. now ranking among the top five countries for Golden Visa applications.
How many Golden Visa holders have obtained Portuguese citizenship?
Over 2,000 Golden Visa holders have successfully obtained Portuguese citizenship after meeting the five-year residency and other legal requirements.
