Lourenço Alvares Why invest in Portugal?
Investing in Portugal offers a promising opportunity for foreign investors, supported by strong economic indicators and a favorable business environment.
In 2024, Portugal experienced foreign direct investment (FDI) inflows of €4.1 billion in the first half of the year, a notable increase from €1.8 billion during the same period in 2023. This surge demonstrates the growing international confidence in Portugal’s economic landscape.
Portugal’s strategic location acts as a gateway to both European and global markets, making it an appealing destination for investors.
In 2024, the Portuguese Agency for Investment and Foreign Trade (AICEP) achieved €420 million in export-focused investments, marking a tenfold increase compared to the previous year. This impressive growth highlights Portugal’s attractiveness as a place for foreign capital.
Portugal’s political stability and secure environment enhance its attractiveness for investment. As one of the safest countries in the world, Portugal provides a reliable backdrop for business operations.
Furthermore, the country’s dedication to sustainability and innovation is reflected in its strategic initiatives, such as its commitment to achieving a carbon-neutral economy. This includes offering incentives for energy efficiency and diversifying energy sources.
Several sectors in the country have the potential for higher returns on investments, such as:
Renewable energy: Portugal aims to generate 85% of its annual electricity from renewable sources by 2030, making it a promising sector for investors in wind, solar, and energy storage projects.
Real estate: Portugal’s real estate market has experienced substantial growth, with the value of homes sold in the third quarter of 2024 reaching a record €9.05 billion—a 28% increase from the previous year. This surge is driven by both domestic demand and foreign investors seeking property-linked residency rights and tax incentives.
Tourism and hospitality: The country received over 26.5 million foreign tourists in 2023, marking a 19% increase from the previous year. This surge has led to a 7.7% rise in tourism compared to pre-pandemic levels in 2019, generating total revenue of €21 billion.
Technology and startups: Lisbon has emerged as a vibrant hub for startups, supported by government incentives and a favorable living environment.
Is it possible to invest in Portugal for citizenship?
It is not possible to obtain Portuguese citizenship by investment. However, the Golden Visa acts as an indirect route to citizenship. You can invest in Portugal through the program, which grants you a temporary residence permit and, after holding the Golden visa for five years, qualifies you to apply for citizenship.
Benefits of Investing in Portugal
Investing in Portugal has become an appealing choice for a variety of reasons, making it a hotbed for both seasoned and novice investors. Here are some compelling reasons why Portugal has captured the attention of the global investment community:
Residency and citizenship: By investing in Portugal, non-EU citizens can qualify for the Portugal Golden Visa, a residency-by-investment program that allows them to live, work, and travel freely within the Schengen Zone. After five years, investors can apply for Portuguese citizenship, one of the fastest routes to an EU passport.
Tax Benefits: Portugal offers favorable tax policies for foreign investors and doesn’t impose wealth, gift, or inheritance taxes, making it a financially attractive option for high-net-worth individuals.
Strong ROI: Portugal’s real estate, tourism, and renewable energy sectors offer high returns on investment. Property prices have been rising steadily, with a 28% increase in home values in 2024. The tourism industry contributes over 16% of the GDP, ensuring consistent demand for accommodation, short-term rentals, and hospitality businesses.
EU market access: Investing in Portugal provides a gateway to the European Union, granting businesses and investors direct access to a 500+ million consumer market. With trade agreements and business-friendly policies, Portugal is a strategic entry point for expanding operations across the Schengen Area and beyond.
Stable economy: Portugal is considered one of the most politically and economically stable countries in Europe and is ranked among the top 10 safest nations globally. With steady GDP growth, low inflation, and strong government support for foreign investment, Portugal offers a secure environment for business expansion and capital preservation.
Portugal's Advantages for Foreign Investment
The Portuguese government has implemented pro-investment policies that attract international capital. It offers a unique combination of political stability, economic growth, legal safeguards, and tax advantages, making it an ideal destination for foreign investment. Portugal is also considered one of the most welcoming and business-friendly countries in Europe.
In addition to the country benefits from its integration into the European Union, which provides strong legal protections and financial incentives, foreign investment in Portugal offers several advantages.
Liberal foreign investment framework: Portugal has a welcoming foreign investment policy that treats both foreign and domestic investors equally under the law. This favorable environment is further improved by the lack of restrictions on capital repatriation, enabling investors to transfer their profits and dividends abroad without any limitations.
Favorable legal and business environment: Portugal has a transparent, stable, and investor-friendly legal framework that aligns with EU regulations. Property rights and business investments are well-protected under Portuguese and EU law.
Skilled workforce and competitive labor costs: Portugal has a highly skilled, multilingual workforce, with strong talent in tech, engineering, and finance. Labor costs are lower than in Western European countries, making Portugal an attractive location for outsourcing and company expansion.
Take a look at our Portugal Citizenship by Investment Guide
Investing Through Portugal's Citizenship by Investment Program
The Portugal Golden Visa is an investment program that allows non-EU citizens to get a Portuguese residence permit provided they make a qualifying investment in the country.
Golden Visa investors and their family members are granted the right to live, work, and study in Portugal. Other benefits include visa-free travel within the Schengen Area’s 29 countries and a low physical requirement as investors only have to spend 14 days every two years in Portugal.
In addition, the program is a pathway to permanent residence and Portuguese citizenship. After five years of being a legal resident in Portugal, Golden Visa investors become eligible to apply for a permanent residence permit and to become Portuguese citizens, which allows them to get a Portuguese passport.
Golden Visa applicants can choose from various options, including:
- Fund subscription: Contribute to a Portugal Golden Visa qualified investment fund (such as private equity funds or venture capital funds) worth at least €500,000
- Investment or donation in the arts or reconstruction of national cultural heritage with a donation of at least €250,000
- Scientific research: Science or Technology research contribution of at least €500,000
- Creation of ten jobs: Creation and maintenance of ten jobs during the required period
- Share capital and job creation: Incorporation of a commercial company in the national territory or reinforcement of a company’s share capital (this company must have its head office in the national territory), in either case with an investment of €500,000, combined with the creation of five or maintaining ten jobs (five of them permanent)
Portugal’s Solidarity Visa
The new Solidarity Visa complements Portugal’s Golden Visa. It is a residency-by-investment program targeting wealthy foreign investors willing to fund affordable housing and social projects under the government’s Mais Habitação (More Housing) law.
The legislation aims to improve housing access for Portuguese citizens and residents. It includes broader measures like regulating short-term rentals and penalizing vacant properties.
However, the Solidarity Visa isn’t an immigration option right now and primarily focuses on projects that will generate little to no return on investment. Still, there are strong indications that the Portuguese government could get the needed support from parliament to approve a change in visa laws in 2025.
How to Get Portuguese Citizenship by Investment
To get citizenship by investment in Portugal, you must make a qualifying investment and keep the respective investment for five years. Before submitting your application, it is advised to consult with a Portugal Golden Visa lawyer or a Golden Visa consultant to determine what documentation you need in addition to your investment.
While applying for the Golden Visa is relatively straightforward, there are quite a few steps to take toward a successful Golden Visa process.
1. Onboarding: Initial discussions with the onboarding and legal teams covering the process as a whole, answering questions, helping you choose one of the qualifying investment options, and completing the process according to the regulations. |
2. Documentation: Gather all necessary documents for yourself and any family members. Ensure that all documents are translated, notarized, or certified. |
2. Bank account and NIF: In order to obtain the tax identification number (NIF) in Portugal, we will appoint a fiscal representative for you. After obtaining your NIF, we can help you open a bank account in Portugal. This can be done by us remotely and the Global Citizen Solutions will help you. |
3. Make the investment: We can begin securing your investment and will guide you through the necessary paperwork required to ensure a successful investment. |
4. Online application: Your application must be submitted through the ARI Portal by a legal representative in Portugal, who will guide you through the necessary documentation and submission. |
5. Pre-approval: Your application will be pre-approved on the basis that you fulfill the necessary requirements. |
6. Biometrics visit: From the time you book your interview, it takes around two months until you can attend a Portugal Golden Visa biometrics appointment in person. |
7. Golden Visa issuance: After your biometrics, your Golden Visa has to be approved by AIMA (which replaced SEF as the Portuguese Immigration and Border Service). Pay the government permit issue fee. We'll then collect the residence cards on your behalf and send them to you. |
Applying for citizenship
Golden Visa holders can apply for Portuguese citizenship after five years of legal residence in Portugal, calculated from the date the application was made. This can be done through the Instituto dos Registos e do Notariado (IRN), which is the Institute of Registries and Notaries under the Ministry of Justice. You need to submit several key documents, including:
- Clean criminal record: Obtain a certificate confirming you don’t have significant criminal convictions.
- Clean health record: Provide a health certificate indicating that you are in good health and do not have any serious or communicable diseases.
- Proof of Portuguese residency: If applying through the naturalization route, submit evidence of your legal residency in Portugal. This includes documentation such as a residence permit, utility bills, rental agreements, or other official records demonstrating that you have lived in Portugal for the required period, as stated above.
- Fluency in Portuguese: Show proof of Portuguese proficiency, for example, by completing the CIPLE (Certificado Inicial de Português Língua Estrangeira) test or providing equivalent evidence.
You’ll also need to present a completed Portugal citizenship application form, a valid passport (proof of identification), and proof of payment for the application processing fee.
Why choose Global Citizen Solutions for your Immigration Visa?
GLOBAL APPROACH BY LOCAL EXPERTS
- GCS has offices located across Portugal.
- Members of the US-Portugal and UK-Portugal Chambers of Commerce in Portugal, and the Investment Migration Council (IMC).
- Our expert team can help you throughout your journey to secure your Visa.
100% APPROVAL RATE
- Our successful track record in applications provides reassurance to applicants.
- We have helped clients from more than 35 countries secure residency in Portugal.
ALL-ENCOMPASSING SOLUTION
- With a single channel of communication, our approach ensures that you have complete clarity on your application.
- Our BeGlobal® Onboarding System allows for a total flow of information.
TRANSPARENCY AND PRIVACY
- Our pricing is clear and detailed, you will not face any hidden costs.
- All data is stored within a GDPR-compliant database on a secure SSL-encrypted server.
Frequently Asked Questions about Investing in Portugal for Citizenship
Is it worth investing in Portugal?
Investing in Portugal is worth it due to its strong real estate market, Golden Visa program, and growing tech industry. The country offers tax incentives, a stable economy, and high quality of life. Key sectors include tourism, renewable energy, and startups, making Portugal an attractive investment destination.
What are the best investment opportunities in Portugal?
The best investment opportunities in Portugal include real estate, tourism, and renewable energy. The Golden Visa program makes property investment attractive. The tech and startup sectors are growing, supported by government incentives. Agriculture, especially wine and olive oil, also offers strong returns. Portugal’s stable economy enhances investment potential.
How can foreigners invest in Portugal?
Foreigners can invest in Portugal by purchasing real estate, starting a business, or applying for the Golden Visa program. Other options include investing in stocks, funds, or renewable energy projects. Portugal offers tax incentives and residency benefits, making it an attractive destination for international investors.
How to get Portugal residence by investment?
To get Portugal residence by investment, you must first make a qualifying investment and meet the minimum investment threshold of €250,000 (investment into the arts). At present, most investors choose to invest in funds (minimum investment of €500,000).
What is the Portugal Golden Visa program?
The Portugal Golden Visa program, also known as the Residence Permit Program, is a five-year residency-by-investment scheme for non-EU nationals. It grants qualifying investors and their family members the right to live, work, and study in Portugal and permits free movement in Europe’s Schengen Area.
How to get Portuguese citizenship?
To get Portuguese citizenship, you must go through the Portugal Golden Visa program and hold your investment for a minimum of five years in the country. Provided that you meet these requirements, you can get a Portuguese passport in five years.
How long does it take to get Portuguese citizenship?
To get Portuguese citizenship, it takes roughly five years.
Can I buy property to get an EU passport?
No, you cannot buy property to get an EU passport in Portugal.
What are the Portugal residency requirements?
One key advantage of the Golden Visa in Portugal is its very low ‘stay requirement.’ In order for you to maintain your Golden Visa residency, you will only need to spend seven days in the first year and 14 days in the subsequent years (consecutively or non-consecutively) in Portugal.
What are the Portuguese citizenship benefits?
There are many citizenship benefits, including the right to work, live and study anywhere in the EU and the right to access quality healthcare, education, work opportunities, and vote in Portugal.
Can you buy a Portuguese passport?
No, you cannot buy a Portuguese passport, but the Portugal Golden Visa program offers you a route to European Citizenship after five years.
