What is the Portugal Golden Visa
The Portugal Golden Visa is a residence permit granted to foreigners in exchange for an investment. Its holders have all the rights of Portuguese residents and can apply for the country’s permanent residency or citizenship in 5 years.
The investment options are:
- supporting arts and cultural heritage — €250,000+;
- financing research activities — €500,000+;
- purchasing investment fund units — €500,000+;
- opening a company and creating 5 jobs — €500,000+;
- opening a company and creating 10 jobs — no minimum investment.
Real estate purchase is no longer an option for prospective Golden Visa holders as it was abolished in October 2023.
Besides making a financial contribution, foreigners must meet specific requirements to be eligible for the Portugal investment visa. The applicant must be over 18, have no criminal record or prosecution, earn money outside Portugal and prove its legality, and have no debts. Spouses, children, parents and siblings can be added to the application.
Purchase of investment fund units — €500,000+
With this option, a potential Golden Visa holder has to contribute a minimum of €500,000 to an investment fund.
Besides, the applicant pays a fund commission of up to 7.5%, with an annual commission on profit being 0.5—3%. Portuguese tax residents also pay a tax of 14% on investment income. There is no tax for non-residents.
The applicant can return money in 5—10 years by selling their assets.
Business investment expenses — €500,000+
There are two business investment options to get a Portugal Golden Visa. The first requires a foreigner to contribute €500,000 to open a company and thus create at least 5 jobs for Portuguese citizens and residents.
For the other option, the investment amount is not specified, but the investor has to open a company and create at least 10 jobs. The number is down to 8 jobs in a low-density region of Portugal.
Expenses on founding a company. The total cost of opening a company in Portugal is around €500—1,000.
As a preliminary step, the entrepreneur must get a pre-registration certificate called certificado de admissibilidade da firm. It costs €75, and an urgent issuance is possible for €150.
The entrepreneur then pays fees for starting the business:
- €220 if a company uses the pre-approved memorandum and articles of association;
- €360 if a company uses the memorandum and articles of association drawn up by interested parties;
- €440 to 720 for urgent requests.
An additional €100 is required to pay if the company has a trademark associated with a class of products or services.
The cost of renting an office depends on the city, but an entrepreneur can expect to pay at least €300 per month for one of about 10—12 m².
Taxes for companies. Corporate tax depends on the region:
- 21% in mainland Portugal;
- 20% in the Autonomous Region of Madeira;
- 16.8% in the Autonomous Region of the Azores.
State and regional surtaxes of up to 9% may also apply.
Small and medium-sized companies performing agricultural, commercial or industrial economic activity are taxed at 17% on the first €25,000. The standard rate applies to the remaining sum of income.
Companies also pay value-added tax (VAT).
VAT rates in Portugal
| Rates | Mainland Portugal | Autonomous Region of Madeira | Autonomous Region of the Azores |
| Standard | 23% | 22% | 16% |
| Intermediate | 13% | 12% | 9% |
| Reduced | 6% | 5% | 4% |
Investment in art and cultural heritage or research activities — €250,000+
The minimum investment in supporting art and cultural heritage in Portugal is €250,000+.
In the case of financing research activities, the investor pays at least €500,000.
There are no other specific expenses for these types of investments.
Additional expenses for obtaining residency by investment in Portugal
Government fees. The investor pays €582 for the application and €5,812 for the residence permit issuance. Renewing the resident’s card costs €2,906 per person. To prove the investment was made, the applicant must obtain a declaration from the bank that costs €200.
Health insurance. The average sum of health insurance is €400 per person but depends on the medical services one requires.
Preparation of documents. The investor must pay for translation and notarising documents when obtaining the Portuguese Golden Visa. The cost of these services starts at roughly €1,000.
How to obtain the Portugal Golden Visa
Obtaining the Portugal Golden Visa takes at least 8 months. During this time, the investor is required to visit Portugal at least once.
Before signing a contract with the investor, Immigrant Invest lawyers conduct preliminary Due Diligence to decrease any risk of refusal to 1%. The check is confidential, and the investor provides the passport only.
The tax number, called Número de Identificação Fiscal (NIF), is required to open a bank account, buy or rent real estate, or start a business in Portugal.
Our lawyers accompany the investor throughout the process of obtaining NIF.
The investment money must be transferred from a bank account in the Portuguese bank.
The investor fulfils the investment conditions. After that, lawyers help to collect documents proving the investment was made.
Lawyers provide the investor with a list of documents required for the application. They fill out government forms and translate and notarise the papers.
Then, lawyers send documents’ copies to the Agency for Integration, Migration and Asylum in Portugal, which is responsible for considering the application.
The investor books an appointment for fingerprinting and comes to Portugal with their family members on the established date.
When visiting Portugal, they also provide the originals of the documents.
The AIMA considers the application and makes a decision. Within 2 weeks after the approval, the investor and their family obtain their residence permits. They can collect cards in person or with the help of a lawyer.
The residence permit is issued for 2 years. Then, it must be renewed. The renewal procedure is the same as for the initial application.
Portugal Golden Visa vs other European Golden Visas
Besides Portugal, Golden Visa programs are available in Cyprus, Greece, Hungary, Italy, and Spain. Cyprus offers permanent residency right away; the other countries grant temporary residence permits.
The requirements, options, and investment thresholds vary depending on the program. Additional fees and other expenses also apply.
Comparison of the European Golden Visa programs
| Country | Investment threshold | Additional fees |
| Greece | €250,000+ | €2,300+ |
| Hungary | €250,000+ | €680+ |
| Italy | €250,000+ | €628+ |
| Portugal | €250,000+ | €6,794+ |
| Cyprus | €300,000+ | €1,040+ |
| Spain | €500,000+ | €2,650+ |
7 benefits of the Portugal Golden Visa
1. Visa-free travel within the Schengen Area. Portugal is part of the Schengen Area, which allows its residents to travel visa-free to the other states of the Schengen zone. The Portugal Golden Visa holders can spend 90 out of 180 days there.
2. EU citizenship in 5 years. The Golden Visa holders can obtain citizenship in Portugal after 5 years of having a temporary residence permit.
3. No mandatory residence. Investors don’t need to continuously reside in Portugal to maintain their status as residents. However, they are required to continue meeting the program conditions: visit Portugal for 7 days each year and renew their residence permit cards.
4. Investment return. The applicants who purchase investment fund units can return their money in 5—10 years if they sell the assets.
5. Inclusion of family members. The investor can add their family members to the application: a spouse, children and siblings under 26, and parents of any age.
6. Relatively small sum of investment. The minimum sum of the investment under the Portugal Golden Visa is €250,000. In Cyprus, the Golden Visa is worth at least €300,000. In Spain, the amount rises to €500,000.
7. Moving to Portugal. Investors can move to Portugal anytime and spend as much time there as they want. The country is known for its affordable cost of living, high level of safety and warm weather.
Key takeaways
- There are 4 investment options under the Portugal Golden Visa program: supporting arts and cultural heritage for at least €250,000; financing scientific research, purchasing investment fund units, and opening a company for €500,000+. When making a business investment, one must also create at least 5 jobs.
- Business investors pay fees for opening a company. In total, these can reach up to €10,000.
- Obtaining the Portugal investment visa takes 8—10 months.
- The benefits of the residence permit by investment include increased travel mobility, potential EU citizenship in 5 years, and potential investment return.
Frequently asked questions
It is quite easy to obtain a Golden Visa in Portugal. The applicant must invest at least €250,000 and meet requirements like having no criminal record and proving the legality of their income.
Applicants for the Portugal Golden Visa pay an application fee of €582 per person and a residence permit issuance fee of €5,812 per family member.
The investor must hold a Portugal temporary residence permit for at least 5 years to get permanent residency. At the same time, they are not required to live in Portugal; they can visit the country for 7 days a year.
The minimum investment under the Portugal Golden Visa program is €250,000 if the investor contributes to supporting arts and cultural heritage.
Other investment options are more expensive. If the investor finances research activities, purchases investment fund units, or opens a company, they spend at least €500,000.
The applicant pays an application fee of €582 and a residence permit issuance fee of €5,812 per family member. They also must buy medical insurance that costs around €400 per person.
The Portuguese authorities discussed ending the Golden Visa program but didn’t close it. However, they abolished several investment options, including purchasing real estate.
The remaining options are supporting arts and cultural heritage, financing research activities, purchasing investment fund units, and opening a company.
The minimum investment sum is €250,000. It is paid when investing in supporting arts and cultural heritage.
Not anymore. In October 2023, the Portuguese authorities reconsidered the Golden Visa program conditions and abolished the real estate investment option.
Applicants can invest in arts and cultural heritage, research activities, investment fund units, and a business.
Malta has the most affordable Permanent Residence Program by investment. The minimum sum of investment is €150,000.
Portugal, Greek and Hungarian Golden Visas are also relatively cheap. The minimum investment under their programs is €250,000.
