Despite many speculating that it would end in 2024, the Portugal Golden Visa program is still one of the most popular residency by investment options in Europe. It serves as an entryway for investors, providing both residency and the possibility of citizenship benefits.
It targets explicitly non-EU/EEA/Swiss citizens, presenting an efficient pathway to residency through investment and allowing free movement in the European Union and Europe’s Schengen Area.
This comprehensive guide to Portugal’s Golden Visa Program explains the scheme’s advantages, eligibility criteria, private equity and venture capital funds, and the application process.
In this Portugal Golden Visa – A Complete Step–by–Step Guide 2025, you’ll learn more about:
Highlights of the Golden Visa Program
Portugal’s Golden Visa program was created to attract international capital. Now, the program effectively provides a golden passport that grants investors many rights.
Several highlights of the program include:
- A variety of relatively affordable investment options to choose from (cultural and artistic donations, investment funds, business set-up, investing in private scientific research institutions)
- Minimum investment requirements start from €250,000. Venture capital funds start at €500,000
- A requirement to spend a minimum period of seven days in the first year in Portugal, then a subsequent 14 days every two years
- Family members are included in the application (including spouse, dependent children, and parents)
- A pathway to becoming a long-term Portuguese citizen after the fifth year
- Visa exemption to travel within European Union countries and the Schengen area
- Live in a safe country with affordable living costs and a high quality of life
What is the Portugal Golden Visa Program?
The Portugal Golden Visa program—formerly the Portugal Golden Residence Permit Program—is a five-year residency by investment initiative for non-EU nationals. With it, qualifying investors and their family members are granted the right to live, work, and study in Portugal.
The scheme was introduced by the government in 2012 as part of Portugal’s immigration move to boost foreign capital and benefit the Portuguese economy.
The Golden Visa investment program is among the most popular, with investors worldwide making contributions. Since its inception, over 20,000 Golden Passports have been awarded to families worldwide, and over €4 billion in funds have been raised.
Benefits of the Portugal Golden Visa Program
Several benefits of the program attract foreign investors to seek residency in Portugal. These benefits include:
- Access to 29 nations in the EU and visa-free travel to 172 nations
- Affordable investment options starting from €250,000
- Five-years until you qualify for a Portuguese passport
- A sound investment in a buoyant market that can lead to real returns
- Short stay requirement
Golden Visa Portugal tax benefits
Income tax benefits are a big draw for foreign investors looking to get the most out of their financial contributions. Golden Visa holders don’t need to pay extra taxes on income produced outside of Portugal.
There’s also an option to register as a tax
resident in Portugal and benefit from the country’s newly-implemented Tax Incentive Scheme for Scientific Research and Innovation (IFICI). Often referred to as NHR 2.0, this tax scheme replaces the Non-Habitual Tax (NHR) Regime, which ended in 2023.
Under IFICI, a 20% flat tax rate applies to income derived from eligible employment and self-employment activities within Portugal for a duration of up to 10 years.
Additionally, income earned abroad, excluding pensions, is exempt from taxation in Portugal under this regime, provided it is declared for tax progression purposes. Unlike the previous NHR regime, foreign-sourced pensions are now subject to taxation at progressive rates.
Applications must be submitted by January 15 of the year following the establishment of tax residency in Portugal. For individuals who became tax residents in 2024, a transitional deadline of March 15, 2025, applies.
Portugal Golden Visa Eligibility Criteria
To qualify for the program, you must fulfill the following Golden Visa requirements for Portugal:
- Have a clean criminal record. If you don’t have a clean criminal record, a lawyer should analyze your case.
- Be either non-EU, non-Swiss, or non-EEA national.
- Minimum investment of €250,000, with a range of investment routes to choose from
- Spend an average of 7 days per year in Portugal, guaranteeing a total of fourteen days during the validity of each residence card (issued with a validity of 2 years)
Family reunification
Portugal Golden Visa Program allows your dependent family to be included in the application and have the same opportunities in a safe and stable country. The following family members are included in the family reunification in the visa application:
- Spouse or legal partner
- Children under 18 years of age
- Children of age provided that they are single, financially dependent, and enrolled as full-time students
- Parents of the main applicant or their spouse/partner, who, if under 65 years of age, must be financially dependent
Investment Options for Portugal Golden Visa
A successful Golden Visa journey starts with an investment. This investment must be made before the application can be filed to qualify for the Golden Visa permit. Here is a summary of potential investment routes for the Golden Passport Portugal:
Investment Option | Minimum Amount | Criteria |
Fund subscription | €500,000 | |
Investment or donation in the arts | €250,000 | |
Reconstruction of national cultural heritage | €250,000 | |
Scientific research | €500,000 | |
Creation of ten jobs | N/A | Creation and maintenance of ten jobs |
Share capital and job creation | €500,000 | Creation of five jobs or maintaining ten jobs |
The minimum investment amounts for options 2 and 3 may be reduced by 20% when the investment activity is carried out in low-density areas. These regions have fewer than 100 inhabitants per square kilometer or GDP per capita of under 75% of the national average.
Here’s an in-depth look at the available options:
1. Golden Visa investment funds
Investing in private equity funds or the Portuguese Golden Visa venture capital fund is a good option for acquiring Portuguese residency. The qualifying funds are managed by fund managers accredited by the Portuguese Securities Market Commission (CMVM), Portugal’s regulatory body. Your dedicated fund manager ensures that the Portuguese Golden Visa fund investments are appropriately managed within the eligibility scope of the Golden Visa.
You can choose from the energy, industry, and technology sectors for the Portugal Golden Visa fund investment route. Remember that the Golden Visa investment funds cannot directly or indirectly pursue real estate activities.
2. Golden Visa arts and culture
Donating or investing a minimum of €250,000 into qualified projects in Portuguese Arts, National Heritage, or Culture. For this Golden Visa route, please note that you will need to make a qualifying investment in an eligible project, which will need to be pre-approved by the Portuguese government through GEPAC. Read: Portugal’s Cultural Production Golden Visa
3. Scientific research
Golden Visa investors can also make a capital transfer equal to or more than €500,000 in research activities conducted by public or private scientific research institutions involved in the national scientific or technological system.
4. Creation of 10 jobs
Under the program, investors must create at least ten full-time jobs. In low density population areas, this number is reduced to eight. All these positions must align with Portugal’s labor and social security standards.
5. Company set-up option
Foreign entrepreneurs and investors can establish or invest in an existing Portuguese business. This investment may involve creating new jobs.
There are two investment options in this category:
- Incorporate a company in Portugal, with a share capital of €500,000 plus creating five permanent jobs
- Increase the share capital of an existing Portuguese company by €500,000 and fulfill the job requirements as stipulated by the Portuguese Government.
Investment options that are no longer eligible
In October 2023, the Portugal Golden Visa changes incorporated the Mais Habitaçāo (More Housing) bill. The aim is to increase Portugal’s supply of rental housing, combat real estate speculation, and restrict rent increases.
- Real estate investment: Acquire a real estate property worth more than €500,000 in Portugal.
- Real estate purchase: Buy a property with construction dating back more than 30 years or located in urban regeneration areas for refurbishing for a total value equal to or above €350,000.
- Capital transfer: Make a transfer of a value equal to or above €1.5 million.
Take a Look at Your Golden Visa Investment Fund Options Complete Guide
Portugal Golden Visa Requirements
Minimum Stay Requirement
The Golden Visa requires you to spend an average of seven days per year in Portugal, guaranteeing 14 days during the validity of each residence card (issued with a validity of two years).
Golden Visa Investment Requirement
You must present supporting evidence that you have invested the minimum amount required. A declaration of honor compromising to maintain the investment for five years is also needed.
Required documents for the Portugal Golden Visa
The following Golden Visa Portugal documents are required, and the Portuguese government can change them at its discretion. Golden Visa applicants must submit the documents for the initial application and each renewal.
The following documents are required:
- Portugal Golden Visa application form
- Copy of a valid passport and travel documents
- Declaration from your bank in Portugal confirming the transfer of funds from abroad
- Proof of health insurance in Portugal (only required if the investor resides in Portugal)
- A background check or a police clearance letter from your country of origin
- A declaration of honor compromising to maintain the investment for five years
- Documents showing a good standing with the Portuguese Tax and Customs Authority
- Document showing non-enrollment or a good standing with the Social Security
- A receipt showing that you already paid the application processing fee
- Note that the certificates of criminal records or police clearance letters must have been issued no more than 90 days before submitting your application.
Getting a Portuguese NIF Number
The NIF (Número de Identificação Fiscal) is your tax identification number in Portugal. It is a unique identifier assigned by the Portuguese tax authorities and is essential for several transactions in Portugal, such as opening a bank account, buying property, signing a contract, and paying taxes.
You can apply for an NIF at the local tax office, appointing a legal representative or through a third-party provider that handles the entire NIF application on your behalf. In practice, it can be tricky to get an appointment to request the NIF number in Portugal, as most tax offices have a long queue for their NIF services that often start early in the morning, before opening hours.
Opening a Portuguese bank account
You’ll also need to open a Portuguese bank account for the Golden Visa. To open a Portuguese bank account, Global Citizen Solutions can introduce you to a competent English-speaking banker in Portugal who can open a bank account before you even come to Portugal.
Portugal Golden Visa Application Process
To obtain the Golden Visa in Portugal, you must make a qualifying investment and keep the respective investment for five years. To submit your application, it is advised to consult with a Portugal Golden Visa lawyer or a Golden Visa consultant to see what documentation you need on top of 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 and answering questions. Collect the necessary documents and ensure the correct paperwork. |
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: Lodge your application online. |
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. |
Renewal process
While other residency permits can be renewed by making an appointment with the Institute of Registries and Notary (IRN), the renewal of a residence permit for investment activities such as the Golden Visa must be done through AIMA’s Residence Permit for Investment Scheme (ARI) portal. This is the same portal used when initiating the Golden Visa in Portugal.
The online system significantly speeds up the process for Golden Visa applicants to renew their visas while reducing the Golden Visa delays of renewal applications that have built up in the last couple of years. Here’s how to schedule a renewal appointment:
- Login to the ARI Portal Registration page
- On the Application page, proceed to the “Calendar” option
- Select the service station (availability is guaranteed in several AIMA branches in the national territory)
- Select Year, month, day and time
- Click on Submit
You’ll then receive an email with the data of the AIMA appointment to deliver the documents necessary for the request and collect the biometric data.
Portugal Golden Visa Processing Time
Year 0
The visa application and the supporting documents are submitted online to AIMA. Once they approve your application, you then need to appear for an interview in person, in AIMA. As the main applicant, you and all your dependents can book the AIMA appointment simultaneously.
You’ll then need to wait between 9-12 months before your residence permit is issued. Once granted, the initial permit is valid for two years.
Year 2
After the two years are up, the residence permit must be renewed. The second permit is valid for two more years.
Year 4
The residence permit will be up for renewal at the end of year four. This can be renewed for another two years.
Year 5
You can apply for permanent residency and/or Portuguese citizenship at the end of the fifth year if you meet the requirements. Once the citizenship is granted, you can obtain a Portuguese passport.
Year 0
Golden Visa issued, now valid for 2 years
Year 2
Portuguese residency permit needs to be renewed. Valid for 2 years.
Year 4
Residency permit needs to be renewed. Valid for 2 years.
Year 5
Both permanent residency and citizenship may be requested, otherwise GV will need to be renewed in year 6.
Portugal Golden Visa Cost
The fees involved with submitting, granting, and renewing the residence permit are listed below. All government fees listed are payable per person, whether a main applicant or a family member. While the information is accurate as of the time of publishing, AIMA can amend the fees without prior notification. The current visa fees table (for all visa types in Portugal) is published on the AIMA website.
Application | Permit Issuance | Per Renewal *Expect to renew twice in a five-year period | Total Over 5 Years | |
Single Applicant | €605.10 | €6,045.20 | €3,023.20 | €12,696.70 |
Couple | €1,210.20 | €12,090.40 | €6,046.40 | €25,393.40 |
Family of Four | €2,420.40 | €24,180.80 | €12,092.80 | €50,786.80 |
Application legal fees
- Golden Visa legal application fees: Range from €5,000 to €8,000 for single applicants. Dependents younger than 18 years old can be included in the application free of charge.
- Additional Portugal Golden Visa application fees: For dependents aged 18 years and older, this will cost between €500 to €2,000. Note that children are free of charge.
Golden Visa renewal legal fees
- Renewal legal costs: For a single applicant: €1,000 to €2,500.
- Additional fees: For dependents aged 18 and above: €500-€2,000. Children are free of charge.
Note: Additional fees may apply depending on the investment you wish to make
Pay for the Portugal Golden Visa with cryptocurrency
Global Citizen Solutions is a crypto-friendly company. We now accept cryptocurrency as payment for our services through the Coingate portal. While we do not have a point of sale directly set up on our website, payment with crypto, including Bitcoin, Ethereum, and Ripple, can be arranged by contacting us.
Global Citizen Solutions has already helped many crypto investors in acquiring their Golden Visa in Portugal and other citizenship-by-investment programs. We are happy to assist you every step of the way. Also read: Portugal Crypto Tax and Cryptocurrency Ultimate Guide
Using a loan or mortgage to pay for Portugal Golden Visa
A common question is if you can use a loan or a mortgage to secure your Golden Visa investment in Portugal. You cannot take out a loan or mortgage from a Portuguese financial institution to pay for your investment. However, you can take out a loan from a bank outside of Portugal.
Portugal Golden Visa to 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.
To apply for Portuguese citizenship, 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.
Portugal Golden Visa 2025: What to expect?
Despite many rumors, the Portugal Golden Visa Program did not end in 2023 and is more popular than ever in 2025. However, potential Golden Visa investors can expect several changes to impact the application process in 2025.
For example, all documents must now be uploaded through the ARI portal, replacing paper-based applications. This includes personal and investment-related documentation, which must be resubmitted online for validity checks.
Additionally, starting in January 2025, biometric appointments are scheduled automatically based on the chronological order of document uploads, with a 30–90-day advance notice. Applicants cannot choose the location or time, but AIMA has expanded service points nationwide.
AIMA is also expected to reduce the significant application backlog by June 2025, prioritizing older applications and automating workflows. After dealing with the backlog, processing is expected to return to the regular four to six-month time frame.
Even though the government restructured the Golden Visa scheme by removing commercial and real estate investments as qualifying investment routes, it also formalized the new Solidarity Visa. This visa option aims to channel private capital into social investment for immigrant integration projects. This includes investments in reception infrastructure, integration projects, and support for vulnerable immigrants.
According to the most recent statistics for the Golden Visa, 15,619 investors and 22,000 family members have benefited from the Golden Visa from October 2012 until September 2024. Historically, Chinese nationals have been the dominant applicants. However, it is expected that citizens of the USA, Brazil, Turkey, Nigeria, Hong Kong, and South Africa will also become strong investors.
What Golden Visa to Pick? Compare our Spain vs Portugal Golden Visa Programs
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 Portugal Golden Visa
Is the Portugal Golden Visa still available?
Yes, the Portugal Golden Visa is still available. However, as of October 2023, real estate investments no longer qualify. Investors can obtain the visa through options like venture capital funds, scientific research, or cultural donations.
Is the Golden Visa Portugal available for UK Citizens?
Yes, the Portugal Golden Visa is available for UK citizens. British nationals can apply by making qualifying investments in areas like venture capital funds, scientific research, or cultural projects. The program grants residency with a minimum stay of seven days per year and offers citizenship eligibility after five years.
Is the Golden Visa Portugal available for US citizens?
Yes, the Portugal Golden Visa is available for US citizens. Americans can apply by making qualifying investments, such as in venture capital funds, scientific research, or cultural projects.
Is the Portugal Golden Visa better than the Spain Golden Visa?
Yes, the main difference between the Portugal Golden Visa and the Spain Golden Visa is the investment requirements, residency obligations, and path to citizenship. Portugal requires a minimum €250,000 investment with a stay of seven days per year and offers citizenship after five years. Spain requires at least €500,000 with longer residency requirements and citizenship eligibility after 10 years.
Cyprus versus Portugal Golden Visa: Which program is better?
The main difference between the Cyprus and Portugal Golden Visa programs is cost, residency requirements, and citizenship timelines. Cyprus requires a €300,000 property investment with permanent residency in two months but stricter physical presence for citizenship. Portugal requires €250,000 in alternatives like funds with seven-day annual stays and citizenship after five years.
Do I need to do the Portuguese Golden Visa language test?
Yes, you need to pass a Portuguese language test for the Portugal Golden Visa to obtain citizenship. The test, required at the A2 level, assesses basic speaking, reading, and writing skills. It is mandatory when applying for citizenship after holding the visa for 5 years but not required for initial residency.
Do dependents qualify for the Portugal Golden Visa program?
Yes, dependents qualify for the Portugal Golden Visa program. Eligible dependents include spouses, children under 18, dependent children up to 26 if studying, and dependent parents of either spouse. They receive residency rights under the main applicant’s visa with access to healthcare, education, and eventual citizenship.
What are the Portuguese Golden Visa healthcare benefits?
The Portuguese Golden Visa grants access to Portugal’s public healthcare system. Residents receive affordable medical services, including doctor visits, hospital care, and emergency treatment. Holders can also use private healthcare with optional insurance. Healthcare access applies to dependents under the same visa, ensuring comprehensive coverage.
What's the Portugal Golden Visa processing time?
The Portugal Golden Visa processing time typically takes 12 to 24 months. The timeline includes application submission, AIMA review, biometric appointments, and final approval. Delays may occur due to document verification or high application volumes. Residency cards are issued shortly after approval.
Is it possible to get your money back with the Portuguese Golden Visa?
Yes, it is possible to get your money back with the Portuguese Golden Visa. While capital return is not guaranteed and varies with risk levels, fund investments depend on market performance. However, it’s not possible to receive a refund through the Golden Visa. Once the investment is made, it’s typically not refundable.
