What is a Portugal Golden Visa?
A Portugal Golden Visa is one of the types of Portugal residence permits. It is called “golden” because it stands out above other types of resident permits for the more attractive conditions its holders have to follow to maintain their status and get citizenship in the future. Most Portugal residence permit holders must spend at least 8 months a year in Portugal. For Golden Visa holders, the required period of stay in Portugal is reduced to just 7 days per annum.
A Portuguese Golden Visa has other names. It is called an investor visa to Portugal because applicants get it by investing in Portugal’s economic development. It can also be called a Portugal residence visa as its holders get the right to move to Portugal and live, run a business, work and study in the country.
The Portugal Golden Visa program has been operated since 2012 and is qualified as the most popular residence program for investors. In 10 years, almost 13,000 investors participated in this program, and more than 20,000 residence permits were issued accordingly for them and their families.
A Portuguese residence permit is favoured by investors driven by attractive terms and conditions. Compared to the similar Spain Golden Visa program, the Portuguese program is much more attractive in terms of thresholds and conditions.
Head of the Austrian office
Statistics of Portugal Golden Visa
How can I benefit from holding a Portuguese Golden Visa?
Participation in the Portugal Golden Visa program opens many opportunities for investors. It can make travel more convenient, give access to quality but affordable education, and lead the way to EU citizenship and a better quality of life.
Visa-free travel in the Schengen Area. Portuguese residence permit holders can travel to Schengen countries without visas. In Portugal, the period of stay is unlimited. In other Schengen countries, it is allowed to spend up to 90 days each half a year. The periods of stay in different countries are summarised.
During the pandemic, I got sick of depending on visas and constantly changing entry rules. My business was falling apart because I could not visit suppliers on time. After getting a Portuguese residence permit by investment, I finally managed to cross the Italian border, met with suppliers in Milan and did not lose regular customers.
a furniture factory owner from South Africa
EU citizenship prospect. Portugal citizenship cannot be obtained directly by investment. Yet, Portugal residency obtained by investment opens the path to a Portuguese passport. A citizenship application can be submitted after holding a Portugal Golden Visa for five years.
In terms of getting EU citizenship by naturalisation, Portugal Golden Visa holders are in a unique position. Only the Portugal residence by investment program provides the opportunity to obtain citizenship without relocation.
I wanted to expand my business in Europe, so I decided to get citizenship in the EU, as it should simplify my business trips and give me access to European banks. As a Portuguese resident, I have already registered a company in Portugal, opened personal and corporate bank accounts, and attended 15 conferences in Schengen countries without visas.
I chose a Portugal Golden Visa over the Golden Visas of other countries because it did not oblige me to reside in the country permanently. I come to Portugal twice a year to practise Portuguese as I must pass the language exam to get a passport.
an IT company owner
Relocation to Portugal. People move to Portugal for various reasons. Portuguese Golden Visa holders can move to Portugal anytime, though relocation is not required.
Most expats feel comfortable in Portugal after relocation: they are satisfied with the quality of life, variety of holiday destinations and pleasant climate. Portugal is one of only two European countries to make it to the top 10 best countries for expats.
It is safe in Portugal. Both locals and expats agree that they are not afraid to return home at night, let the children go out alone or even leave doors open. And the rankings can support these statements: Portugal holds the 7th position in the Global Peace Index.
During the last year of our life in Peru, our house in the closed cottage village was robbed twice. To ensure the safety of my family, I got a Portugal Golden Visa and moved my wife and children to Cascais. I will reunite with my family as soon as I find a way to get a good income in Portugal.
director of a financial fund
Return on investment with profit. Those who choose to get a Portugal golden visa by investing in fund shares can earn an annual yield of 3 to 10%. The minimum investment term is 5 years, but generally, returning the money is possible in 6—10 years.
Discover the benefits of the Portugal Golden Visa and a unique way to EU citizenship
Studying in Portuguese schools and universities for free. Investors’ children can study in private schools and public free schools as well. In Portuguese universities, Golden Visa holders and their family members are also allowed to study on state-financed grounds but under one condition: if they have lived two years in Portugal before enrolling.
State-financed education in public universities is not completely free of charge. Students have to pay an administrative fee of at least around €700 per annum. For self-sponsored students, tuition fees range from €3,000 to €12,500 a year. To apply, prospective international students also need to provide a Portuguese language proficiency certificate of the B2 level.
Can I get a Portugal Golden Visa for all my family?
An applicant for a Portugal Golden Visa can include their family members in the application. Yet, all but a spouse must be financially dependent on the applicant, and some age and other restrictions apply.
An investor must be over 18 years of age, and his country of origin cannot be a part of the EU or EEA. The money for investments must have been legally earned outside Portugal, and the source of income is to be revealed. Other requirements are a clear police record, no debts in Portugal, and no Schengen visa denials.
A spouse can be of the opposite or same sex and does not need to be financially dependent on the investor. If spouses are of the opposite sex, they are allowed to be in a partner relationship, meaning they are not officially married. If spouses are of the same sex, the marriage must be officially registered; if it is not, the couple can get married in Portugal before applying for a residence permit.
Children of the investor or their spouse under 26 years old may also be included in the application. They need to be principally dependent on the main applicant. Children over 18 also have to be university students and registered at the same address as the main applicant.
If an investor wants their children over 26 to get a Portugal Golden Visa, a child can submit a separate application with the investor becoming a sponsor.
Children of 22 or older are also best represented as the main applicants. If they are included in their parent’s application, they might have problems renewing their residence permit cards when they turn 26 and stop meeting the Portugal investment program’s terms.
Lawyer, AML Compliance officer, certified CAMS specialist
Parents of the investor and their spouse are allowed to participate, with no strict age limit applied. However, for parents younger than 65, the investor must provide a wide list of evidence of the dependence: proof of receipt of a financial allowance from the main applicant, certificate of disability, etc.
Siblings younger than 26 may be included if they are under the investor’s legal guardianship.
Grandchildren are generally not permitted to participate, but there is a loophole. The investor, that is, the grandparent, can be issued temporary guardianship of their underage grandchildren. The child does not have to be an orphan, and his parents do not have to be deprived of their rights. Temporary guardianship can be issued for a limited period at the parents’ request.
Other relatives are not eligible to participate in the Portugal Golden Visa program.
Family members can join the investor afterwards
Family members can be granted Portuguese residence permits not only together with the main applicant but also after the investor has already got a Portugal residence visa.
Our clients use this opportunity to get Portugal Golden Visas for their newborn children and for parents who turn 65 and start meeting the program’s conditions.
What should I invest in to get a Portugal residence permit, and how much?
The minimum investment under the Portugal residence by investment program is €250,000. This amount is to be invested in support of art and culture projects. However, this option is not popular with investors and has been chosen by only two investors out of 1,183 in 2023.
Funds. Buying shares of investment funds is the most popular option. The minimum investment amount under this option is €500,000. One needs to invest for at least five years, but usually, funds operate for 6—10 years.
About two hundred Portuguese investment funds are registered with the Portuguese Commission for the Securities Market, but only about a quarter of them are suitable for Golden Visa applicants. The requirements are the following: investment of at least 60% of the capital in Portuguese companies, and the maturity of shares is at least five years. Some funds are explicitly created for Portuguese Golden Visa applicants.
I got a Portugal Golden Visa by investing in the fund. The lawyer offered me four reliable funds on which they had conducted the Due Diligence check, and I chose the EQTY Global Growth Fund.
The fund’s annual profit is 3%, and it will be operating for 8 years. So after this period, I will receive 20% of the investment amount as profit.
a shareholder of a waste recycling company
Portugal Golden Visa costs and expenses for fund units purchase option
| Expense type | Amount to pay |
| Investment | €500,000+ |
| Fund commission when investing | Up to 7.5% |
| Annual commission on profits | 0.5 to 3% |
| Tax on investment income | 14% for Portuguese tax residents, 0& for non-residents |
| Application processing fee | €582 per family member |
| Residence permit card fee | €5,812 per family member |
| Medical insurance | €400+ per person |
Business. Due to complexity and a high degree of participation, two options related to investment in business are not very popular with Golden Visa applicants.
The first option requires a transfer of at least €500,000 to the charter capital of a Portuguese company, followed by the creation of at least five jobs. A company can be already existing or new that is just registered by the investor.
Creating 10 new jobs is the only requirement under the second option. The minimum amount of the capital transfer is undefined.
Research activities. An applicant can also transfer €500,000 to support research activities carried out by public or private research institutions participating in the national science and technology program.
Supporting arts restoring cultural heritage. This is the most affordable option to obtain a Portugal Golden Visa. An investor can contribute €250,000 to an approved cultural project, which could be funding an artistic production or refurbishment and upkeep of national heritage.
How long does a step-by-step process of obtaining a Portugal Golden Visa take?
Normally, Golden Visas to Portugal are obtained within 8—10 months. In cooperation with Immigrant Invest, investors undergo the following steps.
This check shows whether the applicant is eligible for participation in the investment program and if there are risks of denial of the application.
We sign agreements with applicants only after they have passed the preliminary check to make sure they have a good chance of obtaining a Golden Visa, and we are able to assist them in this undertaking.
Immigrant Invest experts provide investors with the advantages and disadvantages of each option. When the option is chosen, we recommend reliable funds, banks and projects to select from.
An investment must be made from a Portuguese bank account, so the investor has to open one. It can be done only in person; thus, the applicant comes to Portugal at this stage. Before going to the bank, the investor gets an individual taxpayer number, as it is on the list of required documents for opening a deposit.
Most subsequent actions do not require the investor’s presence, so an Immigrant Invest lawyer will perform them by proxy.
The investor transfers money to their account in the Portuguese bank. Then, the money is used for the fund share purchase or another investment.
The investor has the necessary documents collected, translated and notarised, as well as the forms filled out.
E-copies of the documents are sent to AIMA, Agency for Integration, Migrations and Asylum of Portugal. There, the application is considered for 4—5 months. Then, our lawyers make appointments for the investor and their family members to get fingerprinted. All of them come to Portugal, provide biometrics and hand in the original documents.
Upon the application approval, residence cards are issued within two weeks. The investor can pick them up in person or through a lawyer by proxy.
The investor and their family members must spend at least seven days a year in Portugal to maintain residency. To renew the residence permit, they have to undergo the same procedure with submitting the documents and fingerprints.
What documents should I provide to get a residence visa to Portugal?
The standard package of documents includes:
- A passport.
- Evidence of legal entry and stay in Portuguese territory.
- Medical insurance.
- Сertificate of no criminal record.
- A taxpayer number in Portugal and the country of origin.
- A declaration of no debts to prove the fulfilment of tax obligations.
- Evidence of the investment made.
- The application fee payment receipt.
- A sworn statement in which the applicant confirms compliance with all the requirements for the implementation of investment activities in Portugal.
- Permission given the AIMA to consult the Portuguese criminal record files to check whether the applicant committed any crimes.
If family members are included in the application, birth and marriage certificates should also be provided. The documents must be translated into Portuguese and notarised.
What obligations do Portugal Golden Visa holders have?
To maintain their residence permits and be able to renew their status, Golden Visa holders must respect the terms of the Portuguese investment program:
- keep investments till they get Portugal citizenship or a permanent residence permit;
- spend at least 7 days per annum in Portugal;
- pay taxes if applicable. For example, property owners are to pay IMI, annual property tax;
- stay with a clear police record;
- have insurance;
- be registered in Portugal.
Even though real estate investment is no longer an option for a Portugal Golden Visa, we can help applicants who need housing in the country. We select several properties to choose from, contact the owner, check the details of the contract and the state of the property, and conclude the rental or sales and purchase agreement by proxy.
Managing Director for Real Estate projects
When and how should Portuguese residence permit cards be renewed?
Portuguese residence permit cards are to be renewed every two years until their holders get a permanent residence permit card or a Portugal passport. To be eligible for the renewal of the Portugal Golden Visa, investors must meet the conditions stated in the section above.
Golden Visa holders prepare a package of documents and then submit an application online. The fee for re-issuing a card is two times less: €2,906 per person.
The set of documents must consist of the following:
- A Portuguese residence permit card that is valid or has expired within half a year.
- A passport.
- Two photos.
- Evidence of financial solvency.
- Permission given to the AIMA to consult the Portuguese criminal record files to check whether the applicant committed any crimes.
- Tax payment information, if applicable.
The cost of Immigrant Invest services already includes the support for extensions of residence permit cards — for investors who initially applied for a Portuguese residence permit with our legal assistance.
Can I obtain Portugal citizenship?
Portugal Golden Visa holders get the right to apply for citizenship five years after obtaining a residence permit. Applicants must have no convictions and an A2 level of Portuguese. The consideration of the application usually takes about seven months, and the whole procedure of obtaining Portuguese citizenship can take up to a year.
Portuguese legislation allows dual citizenship, so investors do not have to renounce their first citizenship when obtaining a Portugal passport. Citizens of Portugal can visit not only the Schengen countries but more than 140 other states without visas.
Instead of a Portugal passport, investors can get a permanent residence permit. This option is attractive to those who would lose their first citizenship after obtaining a Portuguese one due to the legislation of their country of origin. The terms of getting this status are similar, but investors also need to prove they have a place of residence in Portugal and earn a decent income.
Lawyer, AML Compliance officer, certified CAMS specialist
What are the key things to remember about the Portugal Golden Visa?
- The Portugal Golden Visa is a type of residence permit obtained through investment. The permit can be renewed every two years, requiring the investor to spend just 7 days per year in the country to maintain residency.
- The most popular investment opportunity is the purchase of fund units, with a minimum threshold of €500,000.
- While the Golden Visa does not directly lead to Portuguese citizenship, holders can apply for citizenship after five years of residency in the country.
Frequently asked questions
The Portugal Golden Visa is a residency-by-investment program that enables foreigners to obtain residency permits in the country. It stands out from other options for obtaining residency in Portugal, primarily due to its more attractive conditions, including a requirement of just 7 days per year to maintain the residency status.
The principal investor must be a non-EU and non-EEA citizen over 18 years old. They must prove they have a legal source of investment money earned outside Portugal and have a clear police record, no debts in Portugal, and no Schengen visa denials.
The investor can be joined by family members, including the spouse, children and siblings under 26, and parents.
The investor must be a non-EU and non-EEA citizen over 18 years old. They must demonstrate sufficient funds acquired legally outside Portugal, as well as a clean criminal record, no outstanding debts in Portugal, and no history of Schengen visa denials.
The investor can also obtain the Portugal Golden Visa for family members, including their spouse, parents, children, and siblings under 26 years old who are principally dependent on the main applicant.
No, the Golden Visa program remains active. However, Portugal no longer includes real estate investment and capital transfer as the options to participate in the program.
Portugal is highly regarded among expats, making the opportunity to live there an inherent benefit. Additionally, Portuguese residents can travel visa-free within the European Union and stay for up to 90 days out of every 180. After holding residency for five years, they become eligible to apply for Portugal citizenship.
Obtaining the Golden Visa in Portugal is a lengthy process that can take around a year. Additionally, holders must renew their residence permit cards every two years through a similar procedure, which involves the submission of documents and fingerprints.
No, the Portuguese government has excluded real estate purchase from the list of options to obtain a residency permit in the country. The most popular alternative still available for investors is purchasing fund units worth at least €500,000.
The cheapest option to obtain a Portugal Golden Visa is €250,000 to support national arts and restore national cultural heritage. However, a more popular alternative is purchasing investment fund units for €500,000.
Additionally, there are other fees for the Portugal Golden Visa: €582 per family member for application processing, and €5,812 per family member for issuance of residence permit cards.
The minimum investment for the Golden Visa in Spain is €500,000, twice as much as in Portugal. It’s worth noting that the process of obtaining the residence permit by investment in Spain is significantly faster. However, Portugal offers an easier route to citizenship within five years.
