The Portugal Golden Visa remains one of Europe’s most attractive residency-by-investment programs, offering a legal pathway for non-EU nationals to obtain Portuguese residency. Since its launch in 2012, the program has raised over €7.5 billion in foreign investment and helped thousands of investors gain access to the EU lifestyle, free travel in the Schengen Area, and potential Portuguese citizenship.
In this complete guide, we explain how the Portugal Golden Visa works, recent legal changes, investment options, application steps, and how to apply without an agent.
Introduction:
The Portugal Golden Visa officially called the Residence Permit for Investment Activity (ARI)—grants temporary residency to non-EU/EEA/Swiss nationals who make a qualifying investment in Portugal.
As of October 2023, the Portuguese government made several changes to the program, including:
- Ending real estate and capital transfer as eligible investment routes.
- Focusing the program on productive investments such as innovation, job creation, and scientific research.
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Updates:
| Element | Before | After Oct(Current) |
|---|---|---|
| Real Estate Investment | Eligible (€500,000+) | No longer eligible |
| Capital Transfers | Eligible (€1.5 million) | No longer eligible |
| Investment Funds | Eligible (€500,000) | Still eligible |
| Scientific Research | Eligible (€500,000) | Still eligible |
| Cultural Donations | Eligible (€250,000) | Still eligible |
| Job Creation | Eligible (10 jobs) | Still eligible |
Eligible Candidates:
To apply for the Golden Visa, you must:
- Be a non-EU/EEA/Swiss citizen
- Be at least 18 years old
- Have no criminal record
- Make a qualifying investment using funds from outside Portugal
- Maintain the investment for at least 5 years
- Spend a minimum of 7 days per year in Portugal
Benefits:
- Residency for You and Your Family
Grants legal residency in Portugal for you and eligible dependents (spouse, children, and parents), with access to healthcare and education. - Pathway to Portuguese Citizenship
After 5 years of holding the visa, you can apply for permanent residency or Portuguese citizenship one of the fastest naturalization paths in Europe. - Visa-Free Travel in Schengen Area
Enjoy freedom of movement across 27+ European countries in the Schengen Zone without needing additional visas. - No Need to Relocate Full-Time
Maintain residency by spending just 7 days per year in Portugal—ideal for investors who travel or live elsewhere. - Multiple Investment Options
Choose from several qualifying investment routes, including funds, scientific research, or cultural heritage contributions—starting from just €250,000. - Tax-Friendly System
Unless you spend more than 183 days per year in Portugal, you won’t become a tax resident. If you do, Portugal offers attractive tax incentives like the NHR (Non-Habitual Resident) regime. - High Quality of Life
Enjoy Portugal’s warm climate, excellent healthcare, affordable cost of living, and vibrant lifestyle—all while holding residency status. - Family Reunification Rights
Bring your spouse, dependent children, and elderly parents under a single application, making the move seamless for your entire family. - Access to Education and Healthcare
Residency includes access to public healthcare and schooling, with additional private options available in English. - EU Residency and Work Rights (Long-Term)
After gaining citizenship, enjoy full rights to live, work, and study in any EU country as an EU passport holder.
Investment Options:
To qualify, you must choose one of the following government-approved investment routes:
| Investment Route | Minimum Amount | Description |
|---|---|---|
| Venture Capital or Private Equity Fund | €500,000 | Invest in a Portuguese-qualified fund |
| Scientific Research Donation | €500,000 | Support public/private R&D institutions |
| Cultural Heritage Donation | €250,000 | Fund national heritage or arts projects |
| Job Creation | 10 jobs | Create 10 permanent jobs in Portugal |
Required Documents:
You’ll need to prepare the following:
- Valid passport
- Portuguese Tax Identification Number (NIF)
- Portuguese bank account
- Proof of investment
- Criminal background check from your home country
- Health insurance valid in Portugal
- Proof of residence in Portugal (e.g., rental agreement)
- Marriage and birth certificates (for dependents)
- Passport photos
Note: All documents must be translated into Portuguese and notarized.
How to Apply for Portugal Golden Visa Application Process 2025?
- Choose your investment route
Select from venture capital, cultural donation, or job creation. - Get a Portuguese NIF & Bank Account
Required for all applicants; can be done remotely or in-person. - Make the investment
Complete the qualifying transaction and collect official proof. - Prepare and submit your application via SEF Portal
Website: https://www.sef.pt
Application fees: €533 (main applicant), €83 (per dependent) - Attend Biometrics Appointment
In Portugal: fingerprint scan, ID photo, residency confirmation. - Receive Golden Visa Card
Valid for 2 years, renewable twice (for a total of 5 years) - Apply for Permanent Residency or Citizenship (Year 5)
Meet minimum stay, clean criminal record, and A2-level Portuguese language certification.
Processing Time & Validity:
- Processing time: 6–12 months
- Visa validity: 2 years (renewable for two more periods of 2 years)
- Residency requirement: Minimum 7 days per year in Portugal
Portuguese Citizenship:
You can apply for Portuguese citizenship if you meet:
- 5 years of residency (can now begin from application datelaw update)
- A2 level Portuguese language proficiency
- Clean criminal record
- No outstanding tax debts
Portugal allows dual citizenship, and a Portuguese passport provides visa-free access to 191 countries.
Tax Implications:
You’ll only be considered a tax resident if you spend more than 183 days/year in Portugal. If you do, you can apply for the NHR (Non-Habitual Resident) tax scheme, offering favorable tax treatment for 10 years.
Demand of Portugal’s Golden Visa:
Despite the removal of real estate investment, Portugal’s Golden Visa remains highly attractive due to:
- Low stay requirements
- Citizenship timeline of 5 years
- Visa-free EU mobility
- Affordable living and healthcare
- Inclusive family application process
Additional Information:
- Apply early – processing delays are common
- Keep all receipts, legal documents, and contracts
- Consult an immigration lawyer for large or complex investments
- Follow updates on SEF or ePortugal portals
Conclusion:
The Portugal Golden Visa continues to offer a flexible, fast, and family-friendly route to EU residency and eventual citizenship. With strategic investments in innovation or culture, minimal stay requirements, and strong legal protections, it’s still one of the top global residency-by-investment programs even without real estate options.
Frequently Asked Questions:
Do I need to live in Portugal full-time?
No. You only need to spend a minimum of 7 days per year in Portugal to maintain your residency under the Golden Visa.
How long is the Golden Visa valid?
Initially valid for 2 years, it can be renewed twice, totaling 5 years of temporary residency. After that, you may apply for permanent residency or citizenship.
What is the Portugal Golden Visa?
The Portugal Golden Visa is a residency-by-investment program that allows non-EU/EEA/Swiss citizens to gain temporary residency in Portugal by making a qualifying investment, such as in venture capital funds, research, or cultural donations.
