Portugal Golden Visa Program | Residency and Citizenship Guide (2025)

The Portugal Golden Visa Program offers a special opportunity for non-EU citizens to live in Portugal. By investing in the country, you can get a five-year residence permit. This permit allows you to live, work, and study in Portugal, and also travel freely within the Schengen Area of Europe. An interesting aspect of this visa is that you only need to stay in Portugal for an average of seven days each year. After five years, this can even help you qualify for Portuguese citizenship.

In this article, you’ll learn about

How to apply for the Portugal Golden Visa.
Benefits of Golden Visa of Portugal.
What documents do you need?
The Golden Visa application and renewal processes.
The costs involved.

So, if you’re looking to turn over a new leaf in a sunny and vibrant country, the Portugal Golden Visa could be your golden ticket.

What is Portugal’s Golden Visa Program?

The Portugal Golden Visa program started in October 2012. It was one of the first programs of its kind in Europe and inspired similar schemes in Spain and Greece. It has attracted over €7.5 billion in investment by offering non-EU citizens a chance to live, work, and study in Portugal. The country is known for its beautiful scenery, friendly people, and low cost of living.

This visa program is popular because it’s flexible and offers many benefits to Golden Visa holders, including the chance to become a permanent resident or citizen of Portugal in just five years. Since its launch, it has helped over a thousand investors from more than 150 countries. This makes Portugal not only a great place to invest but also a gateway to Europe.

Portugal Golden Visa Update

In October 2023, Portugal updated its Golden Visa Program. These changes do not impact those who have already applied. Now, buying real estate or investing in real estate funds no longer qualifies for the visa. However, you can still invest in certain Portuguese funds to qualify.

How To Get a Golden Visa in Portugal?

These are necessary steps that will guide you through the application process for a Golden Visa applicant in Portugal.

1. Choose Your Investment

Start by deciding what type of investment you want to make. Recently, investing in funds has become a popular choice.

2. Collect Documents

Gather all necessary documents for yourself and any dependents. This can include translations, notarizations, apostilles, and certifications. A professional advisor can help make this easier.

3. Get a NIF and Open a Bank Account

You’ll need a Portuguese tax number (NIF) and a bank account in Portugal. Your lawyer can usually handle this for you without you being in the country.

4. Make Your Investment

Finalize your chosen investment to meet the visa requirements.

5. Submit Your Pre-Application

After your investment, submit a pre-application online through SEF (Immigration and Borders Service). Your lawyer often does this.

6. Attend Your AIMA Appointment

AIMA will schedule an appointment for biometrics. You and your dependents must attend this in person at the AIMA office.

7. Receive Your Golden Visa

Once approved, you’ll receive your two-year-valid Golden Visa residence cards. Your advisor will handle the card collection and delivery.

8. Apply for Citizenship

After renewing your Golden Visa twice and living in Portugal for 5 years, you can apply for permanent residency or citizenship. This process can take 6 months to a year.

Benefits of the Portugal Golden Visa

The Portugal’s Golden Visa offers many benefits:

Visa-free Travel: Once you have the visa, you can travel without a visa in Europe’s Schengen Area. You also get the right to live, work, and study in Portugal.
Citizenship Eligibility: After five years of legal residence, you can apply for Portuguese citizenship and keep your other citizenship.
Low Presence Requirement: You only need to stay in Portugal for seven days in the first year and 14 days in the next two years. This time counts towards the five years required for citizenship.
Education Opportunities: Portugal has excellent schools and universities, both local and international.
High Quality of Life: Enjoy great food, wine, a rich culture, mild weather, and safety.
Healthcare: Portugal offers high-quality healthcare with well-equipped clinics and hospitals.

Portugal’s Golden Visa Investment Requirements

The Portugal’s Golden Visa program offers various golden visa investment options for applicants, categorized into capital transfer and business investment. Here’s a simple breakdown of what each category involves:

1. Capital Transfer Options:

Investment Funds: Invest EUR 500,000 in venture capital fund units or investment funds. These funds should focus on capitalizing companies registered in Portugal, hold the investment for at least five years, and invest at least 60% of their portfolio in Portuguese companies (excluding real estate firms).
Research Activities: Invest EUR 500,000 in research activities carried out by public or private entities within Portugal’s national scientific and technological system.
Low Population Density Area Investment: Reduce the standard investment amounts to EUR 400,000 for research activities or EUR 200,000 for supporting the arts or national heritage if the investment is made in a low population density area.
Art and Heritage: Invest EUR 250,000 in the arts or for the recovery or maintenance of Portugal’s cultural heritage.

2. Business Investment Options:

Job Creation: Create at least ten new jobs with a business based in Portugal or eight jobs in a low population density area.
Company Investment: Invest EUR 500,000 in setting up a new commercial company in Portugal or in increasing the share capital of an existing one, with a requirement to create or maintain five permanent jobs for three years.

Low Population Density Area: Defined as regions with fewer than 100 inhabitants per square kilometer or with a GDP per capita below 75% of the national average. Investing in these areas often allows for reduced capital requirements.

These options allow investors to be flexible, depending on their interests and capabilities, while contributing to various sectors of the Portuguese economy.

3. Fees and Costs of the Portuguese Golden Visa Program

When applying for the Portuguese Golden Visa, there are several fees and costs involved beyond your initial investment. Here is a breakdown of these expenses:

4. Government Fees

Processing Fee: Charged once at the beginning and then at each renewal, costing €773.74, with an additional €83 per dependent.
Initial Application Fee: A one-time fee at the start of €7,730 per person.
Renewal Application Fee: At each renewal, the fee is €3,866 per person.

5. Legal Fees

Legal fees vary depending on the law firm you choose. It’s crucial to select an experienced firm to handle your due diligence and manage the application and renewal processes. These fees can range from €10,000 to €30,000 for a family of four over five years, paid in installments as tasks are completed.

6. Costs Related to Investment

Investment costs vary by the type of investment you choose. Below is a breakdown for the most popular types: real estate (currently not applicable), fund investment, and capital transfer.

Investment Type	Minimum Investment	IMI Transfer Tax	Stamp Duty	Notary Cost	Exit Fees	Commission	Performance Fee	Management Fees	Total Approx. Cost
Real Estate Property	€350,000	4.58%	0.8%	€1,000	5% + VAT	5% + VAT	0%	0%	€369,840
Capital Transfer	€500,000	6.5%	0.8%	€1,000	5% + VAT	5% + VAT	0%	0%	€537,500
Investment Funds	€500,000	0%	0%	0%	0%	0%	35% of profit	1.5% Annually	€500,000

Performance fees typically range from 20% to 50% above a profit hurdle. Management fees are generally between 1% and 2% of the invested amount annually.

Legal fees and additional costs will vary depending on several factors, including the law firm and the number of dependents. The total approximate cost listed does not include exit fees, management fees, or legal fees.

Timeline and Process for Obtaining and Renewing the Golden Visa for Portugal

The timeline for obtaining and maintaining a Golden Visa in Portugal involves several stages, as outlined below:

1. Initial Application and Processing:

Submit the initial application and supporting documents online to Agência para an Integração Migrações e Asilo (AIMA), formerly known as SEF.
It can take up to six months for AIMA to review your application and schedule a biometrics appointment, except in high-demand locations like Lisbon, which might have longer wait times.

2. First In-Person Interview

After AIMA approves your application, you and your dependents appear for an in-person interview at any AIMA office across Portugal, regardless of where you made your investment.
Approximately four months after the interview, you will receive your Golden Visa cards.

3. Year One and Two

The initial residence card is valid for two years. During this time, you must spend a total of fourteen days in Portugal.
Between 30 and 90 days before your card expires, you must attend another AIMA appointment to renew your residence permit and submit updated documents, biometrics, and the required fees.

4. Year Three and Four

Your renewed Golden Visa card is valid for another two years, during which you must again spend at least fourteen days in Portugal.

5. Year Five and Beyond

After renewing your card, a second time and completing an additional year, you reach the end of the fifth year with three options:
1. Apply for Permanent Residence in Portugal.
2. Apply for Citizenship in Portugal.
3. Continue with the Golden Visa temporary residence program.
Choosing permanent residency or citizenship means you no longer need to maintain the Golden Visa investment in Portugal.

This timeline ensures that you meet all the necessary legal requirements to maintain or transition from the Golden Visa to more permanent residency or citizenship in Portugal.

FAQs

No, the Golden Visa program for Portugal isn’t ending. It did undergo some changes in late 2023, particularly in the types of investments that qualify for the visa. These modifications aim to adapt and refine the program, but it remains active for new applicants.

In 2023, Portugal’s Golden Visa program underwent significant changes due to the ‘Mais Habitação‘ proposal passed by the Portuguese Parliament. These changes specifically affected the types of investments eligible for the visa. Previously popular methods like purchasing real estate, transferring capital for real estate projects, or investing in funds with direct or indirect ties to real estate are no longer acceptable options for new applicants. However, other types of investments are still valid, such as investing €500,000 in funds that are not related to real estate.

The Portugal Golden Visa program offers several investment routes for qualifying, each with specific requirements:

Investing in Qualifying Funds:

Invest a minimum of €500,000 in qualifying Venture Capital (VC) or Private Equity (PE) funds that are based in Portugal.

Job Creation & Company Capital:

Invest €500,000 in a Portuguese company and create at least 5 jobs in Portugal.

Financial Contribution:

Contribute €250,000 to cultural heritage or €500,000 to research activities carried out by public or private scientific research institutions in Portugal. This option is part of the Golden Visa Cultural Production route.

Real Estate Acquisitions:

Previously available, this option allowed investment in Portuguese real estate but is no longer available under the current rules.

Transfer of Capital:

This option also previously allowed investors to qualify for the Golden Visa through large capital transfers, but it is no longer available.

These adjustments focus on diversifying the types of investments that contribute to different sectors of the Portuguese economy, excluding real estate, to address local market concerns.

When you obtain a Portugal Golden Visa, your family can also benefit from it through family reunification. This includes:

Your spouse
Your minor children
Your dependent children (which can include adult children who are financially dependent on you)
Your dependent parents (if they rely on you financially)

All these family members can join you in Portugal and enjoy the same rights under the Golden Visa program.

The processing time for the Portugal Golden Visa can vary, largely depending on the current workload at the Immigration and Borders Service (AIMA, previously known as SEF). As of now, from the moment you make your investment, it typically takes over a year to receive your Golden Visa residence card. This timeframe can change based on how many applications are being processed and other factors impacting AIMA’s operations.

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