The Portugal Golden Visa is a highly sought-after residency-by-investment program designed for non-EU nationals who wish to reside, invest, and potentially gain citizenship in Portugal. Launched in 2012, the program has been a gateway for thousands of investors seeking to benefit from Portugal’s advantageous residency conditions, while simultaneously contributing to the country’s economic growth.
Eligibility Criteria
To qualify for the Portugal Golden Visa, applicants must meet specific eligibility criteria. The primary condition is that the individual must be a non-EU, non-EEA, and non-Swiss national. Applicants must also be willing to make a significant investment in Portugal, in sectors approved by the government.
In 2024, the qualifying investments have been refined and focus on sectors such as venture capital funds, job creation, and scientific research.
Investment Options
Portugal’s Golden Visa currently offers five main investment routes for those seeking residency:
- Investment in Scientific Research: A minimum of €500,000 must be invested in scientific or technological research in Portugal. This route supports the country’s innovation and research efforts while allowing investors to contribute to areas of national development.
- Fund Investment: Investors can contribute a minimum of €500,000 into Portuguese funds, including venture capital or mutual funds that focus on a variety of sectors such as tourism, infrastructure, or services. This has become one of the most popular options after the removal of real estate investments.
- Job Creation: By creating or sustaining a minimum of five jobs within a Portuguese company, with a capital investment of at least €500,000, investors can qualify for the Golden Visa. This option encourages economic growth and the development of small to medium enterprises (SMEs).
These investment options are strategically designed to promote sustainable economic development in Portugal while offering investors the opportunity to secure a long-term residence permit.
Benefits of the Portugal Golden Visa
The Portugal Golden Visa offers a range of benefits that make it one of the most attractive residency-by-investment programs in Europe. One of the primary advantages is the ability to live, work, and study in Portugal while maintaining residency in another country. This flexibility allows investors to fulfill their residency obligations with minimal disruption to their personal or professional lives.
The visa also provides visa-free travel across the 26 countries within the Schengen Area, offering unparalleled freedom of movement across Europe. Another major benefit is the potential pathway to Portuguese citizenship after five years of maintaining the investment and meeting the residency requirements. Unlike many other countries’ programs, Portugal does not require applicants to live in the country full-time during this period, making it particularly appealing to global investors.
Additionally, Portugal’s Golden Visa allows investors to include family members in the application. This typically includes spouses, dependent children, and even parents, offering the opportunity to provide a secure and stable living environment for the entire family.
Golden Visa Application Process
The application process for the Portugal Golden Visa is straightforward but requires compliance with specific regulations. As of 2024, the AIMA (Agência para a Imigração e Mobilidade Administrativa) has replaced SEF as the governing body responsible for handling immigration and residency applications, including the Golden Visa.
Once an eligible investment is made, the investor must submit the necessary documentation to AIMA. Required documents include proof of investment, identification documents, criminal background checks, and proof of health insurance, among others. AIMA will then review the application and, if everything is in order, schedule a biometrics appointment. The initial residence permit granted under the Golden Visa is valid for two years, after which it can be renewed for additional two-year periods, as long as the investment is maintained and the minimum residency requirements are met (7 days in the first year and 14 days in each subsequent two-year period).
After five years, investors become eligible to apply for permanent residency or Portuguese citizenship, provided they meet all the necessary criteria, including a basic proficiency in Portuguese and a clean criminal record. This relatively lenient pathway to citizenship, combined with the many investment options and lifestyle benefits, makes the Portugal Golden Visa one of the most attractive options for global investors.
Recent Changes in 2024
In 2024, the Portugal Golden Visa program underwent significant reforms aimed at redirecting investment into areas that promote broader economic development. One of the most impactful changes was the removal of real estate investments as an eligible option for Golden Visa applicants. Historically, buying property in cities like Lisbon and Porto had been a popular path for investors, but this option was eliminated to help curb rising property prices and speculative real estate practices.
The new focus is now on investments that directly contribute to the Portuguese economy, such as venture capital funds, scientific research, and job creation. These adjustments align with the government’s objective to encourage long-term economic growth, especially in sectors like technology and innovation, as well as in underdeveloped regions of the country.
Another change is the transition in governing bodies, with the AIMA (Agência para a Imigração e Mobilidade Administrativa) taking over the processing of Golden Visa applications from SEF, ensuring that the immigration and residency processes align with the new strategic goals of the country.
Who Should Consider the Golden Visa?
The Golden Visa is particularly well-suited for high-net-worth individuals and families seeking global mobility, residency in the European Union, and access to a diversified investment portfolio. Ideal candidates include:
- Investors looking for EU Residency: Individuals who seek residency in Portugal as a gateway to the European market, without the need for permanent relocation.
- Business Owners and Entrepreneurs: Those interested in expanding their business or launching new ventures in Europe may benefit from the job creation route, which promotes business activity in Portugal.
- Venture Capital and Innovation Enthusiasts: With the new focus on venture capital and scientific research, the program is especially attractive for investors seeking high-growth opportunities in technology, healthcare, or sustainable sectors.
- Families Seeking EU Education and Healthcare: Investors who wish to provide their families with access to the EU’s educational systems and healthcare infrastructure can take advantage of the Golden Visa’s ability to include family members in the application.
These investors are typically those who value long-term strategic investments and the ability to live or work in the EU, while simultaneously diversifying their portfolios through venture capital or other economic sectors in Portugal.
If you’re considering investing in Portugal through the Golden Visa program and want to explore the most effective options for your needs, The Blue Portugal can guide you through the entire process. Our team, with partnerships in top-performing investment funds and deep knowledge of Portuguese immigration law, is here to help you make informed decisions.
For more insights and updates on the Golden Visa and other investment opportunities in Portugal, sign up for our newsletter and stay connected with the latest developments. Don’t hesitate to contact us today for a personalized consultation and discover how you can take the next step toward securing residency and investment in one of Europe’s most dynamic markets.
