Portuguese Golden Visa Program: A Complete Guide

The Portuguese Golden Visa was one of Europe’s most sought-after residency-by-investment programs, attracting thousands of international investors. While the real estate investment route was discontinued in 2023, the program still offers alternative investment options for obtaining Portuguese residency.

In this guide, we’ll cover:
✅ What the Golden Visa is
✅ Who is eligible
✅ Investment options available in 2024
✅ Benefits of the program
✅ Application process & requirements
✅ FAQs

1. What Is the Portuguese Golden Visa?

Launched in 2012, the Golden Visa (ARI – Autorização de Residência para Atividade de Investimento) was designed to encourage foreign investment in Portugal. It granted residency rights to non-EU/EEA nationals who made a qualifying investment in the country.

While property investment was once the most popular route, real estate purchases no longer qualify under the revised program rules. Instead, investors can choose from other options, such as venture capital funds, job creation, or scientific and cultural contributions.

The program offers a fast-track residency in Portugal, with a clear path to citizenship after five years.

2. Who Can Apply for the Golden Visa?

To be eligible, applicants must:
✅ Be a non-EU, non-EEA, and non-Swiss national
✅ Be at least 18 years old
✅ Make a qualifying investment in Portugal
✅ Have no criminal record
✅ Maintain their investment for at least five years
✅ Spend a minimum of 7 days per year in Portugal

Spouses, dependent children, and parents may also be included in the application.

3. Qualifying Investment Options in 2024

As of 2023, real estate investments are no longer eligible for the Golden Visa. However, the program still allows residency through the following investment routes:

A) Investment Funds (€500,000+)

• Invest in qualified Portuguese venture capital/private equity funds
• Funds typically focus on technology, renewable energy, or other high-growth sectors
• Regulated by CMVM (Portuguese Securities Market Commission)

B) Job Creation (€500,000+)

• Establish or expand a business in Portugal
• Must create at least 10 full-time jobs for Portuguese citizens

C) Scientific Research (€500,000+)

• Fund scientific or technological research projects in Portugal

D) Cultural or Artistic Contribution (€250,000+)

• Support Portuguese arts, heritage, or cultural preservation projects

E) Donation to National Projects (€500,000+)

• Contribute to environmental or social initiatives in Portugal

4. Key Benefits of the Golden Visa

✅ EU Residency & Freedom of Movement – Travel visa-free across Schengen Zone (26 European countries)
✅ Path to Portuguese Citizenship – Apply after 5 years without full-time residency
✅ Low Stay Requirement – Only 7 days per year required in Portugal
✅ Family Inclusion – Spouse, dependent children, and parents can apply
✅ Access to Healthcare & Education – Full access to Portugal’s world-class public healthcare & education system
✅ Attractive Tax Benefits – Possibility to apply for NHR (Non-Habitual Resident) tax regime, offering tax reductions on global income

5. Application Process & Timeline

Step 1: Choose Your Investment

Decide on a qualifying investment route (e.g., funds, job creation, research).

Step 2: Open a Portuguese Bank Account & Obtain a NIF

A NIF (Número de Identificação Fiscal) is required to make investments in Portugal.

Step 3: Make the Investment

Transfer the required funds and complete the necessary paperwork.

Step 4: Submit Application Online

Apply through SEF (Serviço de Estrangeiros e Fronteiras), Portugal’s immigration office.

Step 5: Attend Biometrics Appointment

Visit Portugal for fingerprinting and document verification.

Step 6: Receive Residency Permit

Approval usually takes 6–12 months, after which you receive a 2-year residency permit (renewable).

Step 7: Apply for Citizenship (After 5 Years)

Maintain investment and meet the minimum residency requirement (7 days per year).

6. Frequently Asked Questions (FAQs)

Q1: Can I still buy property to qualify for the Golden Visa?

❌ No. As of October 2023, real estate no longer qualifies for the program.

Q2: Do I need to live in Portugal full-time?

❌ No. You only need to spend 7 days per year in Portugal.

Q3: Can I bring my family?

✅ Yes. Spouses, dependent children, and parents can be included in your application.

Q4: How long does it take to get a Golden Visa?

⏳ Typically 6–12 months from application submission to residency permit approval.

Q5: Can I apply for Portuguese citizenship?

✅ Yes! After 5 years, you can apply for Portuguese citizenship and an EU passport.

Final Thoughts: Is the Golden Visa Still Worth It?

While the real estate investment route has been discontinued, Portugal’s Golden Visa remains an excellent opportunity for investors seeking EU residency and citizenship. The venture capital fund option has emerged as the most popular alternative for those looking to benefit from Portugal’s residency-by-investment program.