Patricia Casaburi
The Portugal Golden Visa scheme allows non-EU nationals to obtain residency by making a qualifying investment. While it is popular among Americans and Chinese, it has become an appealing option for Russian citizens seeking residency in Europe, especially due to geopolitical tensions and economic uncertainties.
As international relations change, more Russian investors are attracted to Portugal’s welcoming climate, stable economy, and strong legal protections as a strategic step toward greater global mobility and financial security.
In this article, we’ll explore the Portugal Golden Visa program in detail and highlight specific topics relevant to Russian citizens, such as:
What is Portugal's Golden Visa scheme?
The Portugal Golden Visa is a residency-by-investment program aimed at non-EU citizens, including Russians, to attract foreign investment and boost the growth of the Portuguese economy. By making a qualifying investment, applicants get a residence permit for Portugal, which can lead to citizenship after five years of maintaining the investment.
The scheme is among the most popular globally, and over €4 billion in funds have been raised since its inception. Additionally, over 20,000 Golden Visas have been awarded to primary applicants worldwide, while over 15,000 families have benefited from the scheme.
Golden Visa Investment Options
Investment in a Golden Visa must be made before the application can be filed to qualify for the residency permit. Here is a summary of potential investment routes:
Investment Option | Minimum Amount |
Fund subscription | €500,000 |
Investment or donation in the arts | €250,000 |
Reconstruction of national cultural heritage | €250,000 |
Scientific research | €500,000 |
Creation of ten jobs | N/A |
Share capital and job creation | €500,000 |
- Fund Subscription: Contribute to a qualified investment fund worth at least €500,000, such as the Portuguese Golden Visa Investment Fund.
- Investment or donation in the arts or reconstruction of national heritage with a donation of at least €250,000.
- Scientific Research: Science or technology research contribution of at least €500,000.
- Creation of ten jobs: Creation and maintenance of ten jobs during the required period.
- Share capital and job creation: Incorporation of a company or reinforcement of a company’s share capital, in either case with an investment of €500,000, combined with the creation of five or maintaining ten jobs (five permanent).
Are Russian citizens eligible for Portugal's Golden Visa?
Yes, Russian citizens can apply for Portugal’s Golden Visa, but only if they are not identified on the European Union’s sanctions list.
Russian and Belarusian nationals were never officially banned from applying for the Golden Visa. In 2022, Russian applicants were neither accepted nor rejected, meaning they simply weren’t processed.
However, the courts ruled in 2024 that not processing the applications violated constitutional rights. However, those on the European Union sanctions list are still banned from applying.
But even though applications are now being processed for Russian citizens, Portugal’s Agency for Integration, Migration and Asylum (AIMA) is still battling a massive backlog inherited from the former Foreigners and Borders Service (SEF).
There are also a few administrative hurdles, as many Russians might face difficulties in opening bank accounts, getting a tax identification number, or obtaining the necessary documentation needed.
Take a look at our complete guide to the Portugal Golden Visa for more information
Benefits of the Portugal Golden Visa for Russians
Invest in a more stable future: Acquiring residence permits and, ultimately, a second passport means that investors have the privilege of choosing which country to live in and to pay taxes, not solely for themselves but for their entire family.
Family reunification: With a single investment in Portugal, you can bring your dependents, including parents and children.
High quality of life: Portugal consistently ranks high in terms of life for expats, and Portuguese residency gives you and your family access to world-class healthcare and education, as well as visa-free travel to several European countries.
Low stay requirement: The Golden Visa requires that you only stay in Portugal for a minimum of seven days a year.
Path to citizenship: After five years of maintaining the qualifying investment, you can apply for permanent residency and citizenship.
A draft law published in June 2025 proposes major changes to Portugal’s nationality rules. The main change is increasing the residency requirement for citizenship from 5 to 10 years (7 years for CPLP nationals). On June 7th, the Portuguese Parliament held an initial debate on the proposal. However, the government decided not to hold an immediate vote. For the latest information regarding these changes, read Portugal Nationality and Citizenship Changes 2025⚠️ Portugal Nationality Law Changes 2025
Golden Visa Requirements for Russians
To qualify for the Portuguese Golden Visa program, Russian nationals must fulfill the following requirements:
- Have a clean criminal record.
- Be either a non-EU, non-Swiss, or non-EEA national.
- Minimum investment of €250,000 into a qualifying investment option.
Opening a Portuguese bank account
You must open a Portuguese bank account before you lodge your Golden Visa application. This is necessary because the investment funds required for the visa must be transferred from a local Portuguese bank. The authorities in Portugal require proof that the funds originate from your account and that all transactions comply with anti-money laundering regulations. For Russian investments, it is advised that investors work with a fiscal or legal representative to help navigate any legal complexities that may arise.
Getting a Portuguese NIF number
The NIF (Número de Identificação Fiscal) is your tax identification number in Portugal. It is a unique identifier assigned by the Portuguese tax authorities and is essential for several transactions in Portugal, such as opening a bank account, buying property, signing a contract, and paying taxes.
Required documents for the Portugal Golden Visa program
In addition to having a NIF and opening a bank account, there are several other documents that must accompany a Golden Visa application and each subsequent renewal:
- Portugal Golden Visa application form.
- Copy of a valid passport and travel documents.
- A declaration from your bank in Portugal confirming the transfer of funds from abroad.
- Proof of health insurance in Portugal (only required if the investor resides in Portugal).
- A background check or a police clearance letter from your country of origin, issued no more than 90 days before submitting your application.
- A declaration of honor to maintain the investment for five years.
- Documents showing a good standing with the Portuguese Tax and Customs Authority.
- Document showing non-enrollment or good standing with the Social Security.
- A receipt showing that you have already paid the application processing fee.
All documents issued by a non-Portuguese entity must be legalized, with an apostille required if the issuing country is part of the Hague Convention. Additionally, any document not in Portuguese must be translated and certified, typically by a notary.
Portugal Golden Visa Application Process
To obtain the Golden Visa in Portugal, you must make a qualifying investment and keep the respective investment for five years. To submit your application, you are advised to consult with a Portugal Golden Visa lawyer or a Golden Visa consultant to see what documentation you need on top of your investment.
While applying for the Golden Visa is relatively straightforward, there are quite a few steps to take toward a successful Golden Visa process.
1. Onboarding: Initial discussions with the onboarding and legal teams covering the process as a whole, answering questions, helping you choose one of the qualifying investment options, and completing the process according to the regulations. |
2. Documentation: Gather all necessary documents for yourself and any family members. Ensure that all documents are translated, notarized, or certified. |
2. Bank account and NIF: In order to obtain the tax identification number (NIF) in Portugal, we will appoint a fiscal representative for you. After obtaining your NIF, we can help you open a bank account in Portugal. This can be done by us remotely and the Global Citizen Solutions will help you. |
3. Make the investment: We can begin securing your investment and will guide you through the necessary paperwork required to ensure a successful investment. |
4. Online application: Your application must be submitted through the ARI Portal by a legal representative in Portugal, who will guide you through the necessary documentation and submission. |
5. Pre-approval: Your application will be pre-approved on the basis that you fulfill the necessary requirements. |
6. Biometrics visit: From the time you book your interview, it takes around two months until you can attend a Portugal Golden Visa biometrics appointment in person. |
7. Golden Visa issuance: After your biometrics, your Golden Visa has to be approved by AIMA (which replaced SEF as the Portuguese Immigration and Border Service). Pay the government permit issue fee. We'll then collect the residence cards on your behalf and send them to you. |
Portugal Golden Visa renewal process
A residence permit for investment activities such as the Golden Visa must be renewed through AIMA’s Residence Permit for Investment Scheme (ARI) portal, which is the same portal used to initiate the Golden Visa in Portugal.
The online system significantly speeds up the process for Golden Visa applicants to renew their visas while reducing the Golden Visa delays of renewal applications that have built up in the last couple of years. Here’s how to schedule a renewal appointment:
- Login to the ARI Portal Registration page
- On the Application page, proceed to the “Calendar” option
- Select the service station (availability is guaranteed in several AIMA branches in the national territory)
- Select Year, month, day and time
- Click on Submit
You’ll then receive an email with the data of the AIMA appointment to deliver the documents necessary for the request and collect the biometric data.
Portugal Golden Visa Cost
The fees involved with submitting, granting, and renewing the residence permit are listed below. All government fees listed are payable per person, whether a main applicant or a family member. While the information is accurate as of the time of publishing, AIMA can amend the fees without prior notification. The current visa fees table (for all visa types in Portugal) is published on the AIMA website.
Application | Permit Issuance | Per Renewal *Expect to renew twice in a five-year period | Total Over 5 Years | |
Single Applicant | €605.10 | €6,045.20 | €3,023.20 | €12,696.70 |
Couple | €1,210.20 | €12,090.40 | €6,046.40 | €25,393.40 |
Family of Four | €2,420.40 | €24,180.80 | €12,092.80 | €50,786.80 |
Application legal fees
- Golden Visa legal application fees: Range from €5,000 to €8,000 for single applicants. Dependents younger than 18 years old can be included in the application free of charge.
- Additional Portugal Golden Visa application fees: For dependents aged 18 years and older, this will cost between €500 to €2,000. Note that children are free of charge.
Golden Visa renewal legal fees
- Renewal legal costs: For a single applicant: €1,000 to €2,500.
- Additional fees: For dependents aged 18 and above: €500-€2,000. Children are free of charge.
Note: Additional fees may apply depending on the investment you wish to make
Pay for the Portugal Golden Visa with cryptocurrency
Global Citizen Solutions is a crypto-friendly company. We now accept cryptocurrency as payment for our services through the Coingate portal. While we do not have a point of sale directly set up on our website, payment with crypto, including Bitcoin, Ethereum, and Ripple, is possible.
Global Citizen Solutions has already helped many crypto investors in acquiring their Golden Visa in Portugal and other citizenship-by-investment programs. We are happy to assist you every step of the way.
Using a loan or mortgage to pay for the Portugal Golden Visa program
A common question is if you can use a loan or a mortgage to secure your Golden Visa investment in Portugal. You cannot take out a loan or mortgage from a Portuguese financial institution to pay for your investment. However, you can take out a loan from a bank outside of Portugal.
Why choose Global Citizen Solutions for your Immigration Visa?
GLOBAL APPROACH BY LOCAL EXPERTS
- GCS has offices located across Portugal.
- Members of the US-Portugal and UK-Portugal Chambers of Commerce in Portugal, and the Investment Migration Council (IMC).
- Our expert team can help you throughout your journey to secure your Visa.
100% APPROVAL RATE
- Our successful track record in applications provides reassurance to applicants.
- We have helped clients from more than 35 countries secure residency in Portugal.
ALL-ENCOMPASSING SOLUTION
- With a single channel of communication, our approach ensures that you have complete clarity on your application.
- Our BeGlobal® Onboarding System allows for a total flow of information.
TRANSPARENCY AND PRIVACY
- Our pricing is clear and detailed, you will not face any hidden costs.
- All data is stored within a GDPR-compliant database on a secure SSL-encrypted server.
Frequently Asked Questions about the Portugal Golden Visa for Russians
Can Russian citizens apply for the Portugal Golden Visa?
Yes, they can. Applications by Russian citizens were never processed for the Portugal Golden Visa program due to EU sanctions in 2022, but that was lifted in 2024.
What are the benefits of Portugal's Golden Visa?
There are many benefits to Portugal’s Golden Visa program. You have permanent free entry and movement throughout the Schengen Area (26 European countries). After five years, you can apply for Portuguese citizenship if you meet all the requirements under Portuguese Nationality Law. Also, your dependent children and dependent parents qualify for the same benefits as you.
What are Portugal's Golden Visa requirements?
Portugal’s Golden Visa requirements are straightforward. To qualify for the program, you must fulfill the following:
- Be either non-EU, non-Swiss, or non-EEA national
- Minimum investment of €250,000, with a range of investment routes to choose from, including arts and cultural donations, venture capital funds, private equity, and investment funds, company creation an investing in public or private scientific research institutions.
- Have a clean criminal record
- Spend an average of 7 days per year in Portugal, guaranteeing a total of 14 days during the validity of each residence card (issued with a validity of 2 years)
What's the Portugal Golden Visa processing time?
The Portugal Golden Visa processing times usually take between 12 to 18 months for the approval and issuance of your residency card.
Should I consult a Portugal Golden Visa lawyer for the application?
Working with a Portugal Golden Visa lawyer is highly advised. This is because they know the rules and regulations and can support you from the beginning to the end of your Golden Visa application.
What are the Portugal Golden Visa minimum stay requirements?
The Portugal Golden Visa program requires you to spend an average of seven days per year in Portugal, guaranteeing 14 days during the validity of each residence card (issued with a validity of 2 years).
Where can I find more information and support for Russians living in Portugal?
The Embassy of Russia in Lisbon website is a rich source of information about up-to-date application fees, border services, and other useful links.
What alternative visas are available for Russians in Portugal?
Several Portuguese visa options are available for Russian citizens, including the D7 Visa, also known as the Portugal retirement visa, D2 Visa, or entrepreneur visa, D3 Visa, or Highly Qualified Activity Visa, and the D8 Visa, commonly referred to as the Digital Nomad Visa.
What is the status of Russian applications submitted before the Portugal Golden Visa ban?
Russian and Belarussian nationals were never officially banned from applying for the Golden Visa. However, since August 2024, Portugal’s Agency for Integration, Migration and Asylum (AIMA) has been processing a backlog of between 45,000 and 50,000 Golden Visa program applications inherited from the Foreigners and Borders Service (SEF). AIMA’s efforts to address the delay and backlog include digitizing processes and increasing staff.
Can Russians apply for the Portugal D7 visa instead of the Golden Visa?
Yes, Russian nationals who are not on the European Union sanctions list can apply for any of the Portuguese visa options available.
Are family members of Russian citizens eligible for the Portugal Golden Visa?
Yes, family members are included in the application, including spouses, dependent children, and parents.
What investment options are open to non-sanctioned Russians in Portugal?
Portugal’s Golden Visa program offers various investment options that include fund subscription, investment or donation in the arts or reconstruction of national heritage, investment in scientific research, the creation of ten jobs, and share capital and job creation.
