Portugal Golden Visa: Updated Guide 2025
The PORTUGAL Golden Visa allows foreign citizens to obtain residency and later EU citizenship through investment
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Portugal Golden Visa 2025
Looking to secure European residency through investment? Portugal’s Golden Visa program remains one of the most attractive options for non-EU/EEA/Swiss citizens in 2025.
As the program continues to evolve, this comprehensive guide covers everything you need to know about the latest rules, investment pathways, and lifestyle benefits.
With recent shifts away from real estate investments, the focus now is on qualified Portuguese funds, offering a streamlined and sustainable route to residency.
Enjoy the freedom of Europe’s Schengen Area with only 14 days of required stay every two years – your path to European residency has never been this accessible.
What is Portugal´s Golden Visa
Portugal’s Golden Visa program is one of the most popular residency by investment programs in the world. The program started in 2012 and since then, more than 13,000 investors, plus their respective families, have applied for their Golden Visa.
Since the inception of the program up to today, the majority of the investors have came from China, USA, Brazil, Turkey and South Africa. Currently, the large majority of the investments are made in Private Equity Funds and the investments must be made in Euros.
5 years after applying for Portugal’s Golden Visa, the investor can apply to obtain Portugal’s citizenship or the Permanent Residency.
The time required for citizenship eligibility begins counting from the date of application submission, allowing investors to fulfill the five-year residency requirement even as their application is being processed.
The applicant doesn’t need to move to Portugal to keep the residence permit. Staying in the country for 14 days every two years, after obtaining the residence card, will be sufficient.
Benefits of Portugal’s Golden Visa
As global interest in residency-by-investment programs continues to rise, Portugal’s Golden Visa has emerged as a standout option for those seeking EU citizenship or permanent residency in Portugal.
Here are the key benefits:
- Quality of Life and Attractive Environment
- Portugal offers a beautiful coastline, a mild climate, friendly people, and an excellent cuisine.
- The country is known for its high quality of life, safety, and welcoming environment.
- Portugal has a relatively affordable cost of living, making it an attractive destination for investors.
- One of the safest countries in the world.
- Easy access to and within Portugal due to its geographical location and the huge investment made by the country in
transport infrastructures since the 1980s.
- Strategic Access to Europe and Beyond
- Portugal´s Golden Visa serves as a gateway to Europe, providing the right to live, work, and study in Portugal.
- Access to free education and healthcare in Portugal
- Visa-free travel across Europe’s Schengen Area currently
composed of 26 countries, is included, allowing free movement for the investor and eligible family members. - The investor doesn´t need to live in Portugal to keep the residency card. A stay of only 14 days every two years will be enough. Unless you live in Portugal for more than 183 days per year you will not become a tax resident in Portugal.
- Family Inclusion
- Portugal´s Golden Visa allows the investor to include family members in the application, providing them the same residency benefits. Eligible family members include:
- Spouse or partner
- Children under the age of 18
- Financially dependent children over 18 who are unmarried and still studying
- Parents of the applicant who are over 65 years old
- Portugal´s Golden Visa allows the investor to include family members in the application, providing them the same residency benefits. Eligible family members include:
A good news is that the Portuguese law fully recognises members of the LGBT+ community for the concept of family members for Golden Visa and residency application purposes.
- Long-Term Benefits
- After five years, one of the shortest time spans in the Golden Visa programs around the world, investors may apply for Portuguese citizenship, granting them, family members and future generations, access to a Portuguese passport.
- A Portuguese passport allows visa-free or visa-on-arrival access to 191 countries.
- Portugal allows for dual citizenship.
- Tax benefits within the new IFICI+ program.
- Full Access to Public Services
- Golden Visa holders and their families can live, work, and study in Portugal, with full access to public services, including healthcare and education.
- Investment Diversification in a Stable Market
- The Golden Visa program offers a unique opportunity to diversify assets in a stable and prosperous market, connecting the benefits of the European lifestyle with a thriving business environment.
Eligibility and Requirements for Portugal's Golden Visa
To qualify for Portugal’s Golden Visa, applicants need to meet specific criteria. Here’s a clear breakdown of the requirements:
- Nationality: The applicant must be a non-EU/EEA/Swiss citizen
- Age Requirement: The main applicant must be at least 18 years old.
- Criminal Background: The applicant should have a clean criminal record from their current country of residence and from Portugal.
- Open a bank account in Portugal and obtain a Portuguese tax ID number (NIF).
- All non-Portuguese documents need to be legalized through apostille and translated to Portuguese.
- Investment Options (choose one): Portugal’s Golden Visa program allows flexibility in the type of investment you choose. Among the options, investment in Portuguese funds stands out as the most popular and highly recommended for those seeking a straightforward path to residency. This investment can be made personally or through a sole proprietorship company domiciled in Portugal. You must maintain your investment until you obtain the Portuguese
citizenship or permanent residency.
Here are the investment´s available options:
- Investment Funds: A minimum investment of €500,000 in a qualified Portuguese investment fund, which is the most popular and recommended choice.
- Cultural Heritage Sponsorship: Contributing €250,000 towards cultural or heritage preservation projects.
- Company Formation and Job Creation: Starting a business that creates a required number of jobs in Portugal.
- Scientific Research Sponsorship: Funding scientific or technological research initiatives.
Important Note:
Applicants are only required to choose one of the investment options to meet eligibility criteria. Furthermore, as of recent changes, real estate purchases are no longer accepted as a qualifying investment for the Golden Visa program.
These requirements offer a flexible yet structured way for non-EU citizens to gain residency in Portugal, with the option to pursue citizenship after five years if desired.
Find the Perfect Investment for Your Golden Visa
Investment Opportunities in Portugal’s Golden Visa
Portugal’s Golden Visa Program currently offers various investment alternatives for those seeking residency. Investors can choose from the following options:
- €500,000 in private equity funds (excluding investments directly or indirectly related to real estate)
- Creation of at least 10 jobs
- €500,000 in research activities conducted by public or private scientific institutions
- €250,000 to support artistic production or the preservation of national cultural heritage
- €500,000 to establish a commercial company in Portugal, creating five permanent jobs
Among these, private equity funds have become the leading choice for investors.
Portugal Golden Visa: Shifting Focus from Real Estate to Investment Funds
Portugal Golden Visa has long attracted international investors. As real estate investments were removed as a qualifying option, Eligible Investment Funds gained prominence, especially Private Equity Funds (PEFs), now a central choice for many.
Private Equity Funds (PEFs): The New Frontier
Introduced in 2017, PEFs quickly rose in popularity as a Golden Visa option, now making up almost 100% of all applications. U.S. investors have, since the beginning, shown a strong significant interest in this option.
The Blue Portugal´s team leverages its expertise to guide investors through the intricacies of PEF investments, ensuring a seamless experience.
Benefits of Eligible Investment Funds
- Diverse Opportunities: Investors can spread their capital across multiple eligible funds instead of a single option.
- Expert Management: Managed by industry experts, these funds often yield higher returns than individual investments.
- Tax Incentives: Income from these funds is tax-free for non-residents, except those residing in tax havens.
- Regulatory Oversight: The Portuguese Securities Market Commission (CMVM) provides rigorous regulation, ensuring that PEFs adhere to European financial standards.
- Regular Audits: External auditors, predominantly from top firms, review these funds to ensure credibility.
- Secure Investment: Each fund has a depositary bank for custodial services and oversight.
- Investment Requirement: To pursue the Golden Visa via investment funds, a minimum of €500,000 must be allocated to Eligible Investment Funds.
Understanding the Shift Away from Real Estate
The exclusion of direct real estate investments may seem significant. However, it’s essential to note that funds focused on renovating properties for sale or lease no longer qualify, while sectors like tourism, agriculture, elder care, and student housing remain eligible. Traditional PEFs investing in SMEs or startups across various sectors are still firmly embedded within the Golden Visa framework.
Procedure and Timeline for Portugal's Golden Visa
To initiate the Golden Visa process, the visa application is submitted to the Portuguese Immigration Authority (AIMA). Below is a streamlined guide to the procedure, required documentation, and estimated timeline.
Required Documentation
To apply, the following documents are necessary:
- Visa application form
- Copy of passport
- Valid criminal record certificate
- Marriage certificate, if including a spouse
- Birth certificates, if including children
- Proof of investment, including a bank declaration and confirmation from the fund management company
Residency and Citizenship Timeline
- First Residency Card: Issued for a period of 2 years
- Second Residency Card: Issued for 3 years
- After 5 Years: Eligible to apply for permanent residency or citizenship – Notably, the five-year period for citizenship eligibility starts from the date of application submission, providing an advantage given current processing times.
To qualify for citizenship, the investor and any dependents must meet the following criteria:
- No outstanding tax obligations in Portugal
- Clean criminal record in both Portugal and the country of residence
- Basic Portuguese language certification
Steps to Obtain Portuguese Residency and Citizenship
Step 1: Prepare All Required Documents
Gather all essential documents for the main applicant and dependents.
Step 2: Obtain a Portuguese Tax ID (NIF) and Open a Bank Account
The Blue Portugal will assist with acquiring the NIF and opening a bank account.
To obtain the NIF we will need a proof of address from your country of residence, a copy of your passport and filling and signing a power of attorney for this purpose.
Please note that the Portuguese law requires that all persons that still don´t live in Portugal and have that have NIF are required to have a tax representative. The Blue Portugal provides tax representation services.
Step 3: Choose and Fund Your Investment
Select the eligible investment option and complete the funding.
Step 4: Submit the Application to AIMA
Our legal team will support the application submission to AIMA. Once the application is submitted, the five-year residency requirement for citizenship eligibility begins, ensuring that investors can work towards their citizenship timeline during the processing period.
Step 5: Attend a Biometrics Appointment with AIMA in Portugal
This appointment is required for the issuance of the Golden Visa. AIMA will provide a
set of available dates for this purpose.
Step 6: Receive Your Golden Visa and Renew it After Two Years
The visa is issued and must be renewed after the first two-year period. The next renewal will be for a period of three years.
Step 7: Apply for Portuguese Citizenship or Permanent Residency
After five years of residency, you can apply for permanent residency or Portuguese citizenship.
The Citizenship process involves:
- An application to the Portuguese Registry office.
- Providing proof of the investment made.
- Demonstrating basic proficiency in Portuguese through passing successful on a A2 exam or enrolling and concluding a certified Portuguese language course.
- Submitting a personal statement demonstrating the ties to Portugal.
Timeline Expectations
The steps from document preparation through to application submission (Steps 1–4) typically take around 3 months. However, in some cases, we have managed to complete this phase within 3 weeks! Note that only Steps 5 and 7 require your physical presence in Portugal. The Blue Portugal will manage all other stages on your behalf.
Portugal Golden Visa Costs
In addition to the minimum investment you make, and the necessary fees related to the transaction of the investment property, you will be faced with legal fees and government application fees.
Below, you may find a calculator with the detailed list of all the associated costs.
Cost Calculator
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*This calculator includes optional estimated travel costs for the required trip to Portugal for fingerprint collection
Questions and Answers
These are frequently asked questions and answers about the Visa D9 Golden Visa
Yes, Portugal’s Golden Visa is very much active, with updated regulations focusing on investments in private equity funds, scientific research, cultural support, and job creation.
Non-EU/EEA/Swiss citizens who invest in qualifying options such as private equity funds, research, or cultural donations are eligible to apply.
Current options include: €500,000 in private equity funds, creation of at least 10 jobs, €500,000 in scientific research, €250,000 in cultural heritage, and €500,000 in a new company with five permanent jobs.
No, direct real estate investments are no longer eligible. However, some funds focusing on sectors like tourism or senior housing, which involve usage of real estate to support the business development, still qualify if invested through private equity funds.
The Golden Visa grants access to Portugal’s healthcare and education systems, family reunification, the ability to work or run a business, and visa-free travel within the Schengen area. After 5 years, holders may apply for permanent residency or citizenship.
The minimum stay requirement is 7 days in the first year and 14 days every two years thereafter.
- Required documents include a visa application form, passport copy, criminal record certificate, proof of investment, and, if applicable, marriage and birth certificates for family members.
Yes, after 5 years of residency and meeting certain criteria, including basic Portuguese language proficiency, applicants may be eligible for Portuguese citizenship.
The minimum investment is €500,000 for most options. Additional fees may apply for processing, legal support, and renewal.
The primary change is the removal of real estate as a direct investment option. Focus has shifted towards private equity funds and other eligible investments.
The initial application and document preparation can take about 3 months, though some cases are processed faster. The first residency card is valid for 2 years, followed by a 3-year renewal. Citizenship can be requested after 5 years.
Most applications come from the United States, Greater China, the Middle East, Turkey, and South America, as per available public data and The Blue Portugal’s experience.
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Also in Chinese in 葡萄牙黃金簽證2025 or 葡萄牙黄金签证