Portugal Golden Visa: New Rules and Complete Guide 2025

The Portugal Golden Visa, also known as the Portugal Investment Visa, is a residency-by-investment program that grants non-EU, EEA, and Swiss nationals a Portuguese residence permit in exchange for a qualifying investment.

Launched in 2012 to attract foreign investment and boost economic growth, the Portugal Golden Visa Program is one of Europe’s most sought-after residency options due to its attractive benefits.

The program allows investors and their families to live, work, and study in Portugal while enjoying visa-free travel across the EU’s Schengen Zone. After just five years, Golden Visa holders can apply for Portuguese citizenship without needing to reside full-time in the country.

Despite speculation about its termination in 2024, the Portugal Golden Visa hasn’t ended. While real estate purchases and capital transfers no longer qualify, several attractive investment options are still available.

In this complete guide to the Portugal Golden Visa 2025, you’ll discover its benefits, eligibility requirements, and a step-by-step application process.

• How to get the Portugal Golden Visa
• Who Is Eligible for a Portuguese Golden Visa?
• Golden Visa application process
• Golden Visa program costs
• Portuguese citizenship eligibility

Highlights of the Golden Visa Program

Portugal’s Golden Visa program was created to attract international capital. Now, the program effectively provides a golden passport that grants investors many rights.

Several highlights of the program include:

• A variety of relatively affordable investment options to choose from (cultural and artistic donations, investment funds, business set-up, investing in private scientific research institutions)
• Minimum investment requirements start from €250,000. Venture capital funds start at €500,000
• A requirement to spend a minimum period of seven days in the first year in Portugal, then a subsequent 14 days every two years
• Family members are included in the application (including spouse, dependent children, and parents)
• A pathway to becoming a long-term Portuguese citizen after the fifth year
• Visa exemption to travel within European Union countries and the Schengen area
• Live in a safe country with affordable living costs and a high quality of life

What is the Portugal Golden Visa Program?

The Portugal Golden Visa program, also called the Portugal Golden Residence Permit Program, is a five-year residency by investment initiative for non-EU nationals. With it, qualifying investors and their family members are granted the right to live, work, and study in Portugal.

The scheme was introduced by the government in 2012 as part of Portugal’s immigration move to boost foreign capital and benefit the Portuguese economy.

The Golden Visa Investment Program is among the most popular, with investors worldwide making contributions. Since its inception, over 20,000 Golden Passports have been awarded to families worldwide, and over €4 billion in funds have been raised.

Benefits of the Portugal Golden Visa Program

Several benefits of the Portugal Investment Visa attract foreign investors to seek residency in Portugal. These benefits include:

Free movement in the EU: As a Golden Visa holder, you can access 29 European Union countries. This offers unparalleled freedom for business and travel.

Live in your home country: The Portugal Golden Visa offers flexibility in residence. The requirements are minimal, with just seven days in the first year and 14 days every subsequent two years. This makes it easy to maintain your residency status while continuing to live and work in your home country.

Affordable investment options: The Portugal Golden Visa offers one of Europe’s most cost-effective residency options. With investment opportunities starting from as low as €250,000, the program is an attractive option for many investors.

Pathway to Portuguese citizenship: One of the most appealing aspects of the Portugal Golden Visa is the path to Portuguese citizenship. After just five years, you can apply for a Portuguese passport, gaining access to the benefits of EU citizenship, which includes the right to live, work, and study in any EU member state and visa-free travel to visa-free travel to 172 countries worldwide.

Financial stability: Investing in Portugal offers the potential for real returns in a profitable and vibrant economy that has shown steady growth over the past years. The Golden Visa Portugal provides an opportunity to invest in a stable market while enjoying residency benefits.

Tax benefits: Golden Visa holders are not required to pay taxes on income generated outside Portugal, helping to optimize your financial situation and minimize tax burdens.

Portugal Golden Visa Eligibility Criteria

To qualify for the program, you must fulfill the following Golden Visa requirements for Portugal:

• Have a clean criminal record. If you don’t have a clean criminal record, a lawyer should analyze your case.
• Be either non-EU, non-Swiss, or non-EEA national.
• Minimum investment of €250,000, with a range of investment routes to choose from
• Spend an average of 7 days per year in Portugal, guaranteeing a total of fourteen days during the validity of each residence card (issued with a validity of 2 years)

Portugal Golden Visa qualifying dependants

Portugal Golden Visa Program allows your dependent family to be included in the application and have the same opportunities in a safe and stable country. The following family members are included in the family reunification in the visa application:

• Spouse or legal partner
• Children under 18 years of age
• Children of age provided that they are single, financially dependent, and enrolled as full-time students
• Parents of the main applicant or their spouse/partner, who, if under 65 years of age, must be financially dependent.

Investment Options for Portugal Golden Visa

A successful Golden Visa journey starts with an investment. This investment must be made before the application can be filed to qualify for the Golden Visa permit. Here is a summary of potential investment routes for the Golden Passport Portugal:

The minimum investment amounts for options 2 and 3 may be reduced by 20% when the investment activity is carried out in low-density areas. These regions have fewer than 100 inhabitants per square kilometer or GDP per capita of under 75% of the national average.

Here’s an in-depth look at the available options for the Golden Visa Portugal:

1. Golden Visa investment funds

Investing in private equity funds or the Portuguese Golden Visa venture capital fund is a good option for acquiring Portuguese residency. The qualifying funds are managed by fund managers accredited by the Portuguese Securities Market Commission (CMVM), Portugal’s regulatory body. Your dedicated fund manager ensures that the Portugal Golden Visa fund investments are appropriately managed within the eligibility scope of the Golden Visa.

You can choose from the energy, industry, and technology sectors for the Portugal Golden Visa fund investment route. Remember that the Golden Visa investment funds cannot directly or indirectly pursue real estate activities.

American investors can also use their Individual Retirement Account (IRA) funds to invest in Portuguese funds for the Golden Visa program. This strategy requires careful navigation of both the Golden Visa requirements in Portugal and IRS regulations. It may allow investors to leverage their retirement savings without incurring withdrawal penalties or immediate tax consequences.

Although IRA investment structures for Portuguese funds are relatively new, our team is diligently researching implementation strategies and regulatory implications for our clients’ applications.

2. Golden Visa arts and culture

Donating or investing a minimum of €250,000 into qualified projects in Portuguese Arts, National Heritage, or Culture. For this Golden Visa route, please note that you will need to make a qualifying investment in an eligible Portugal Cultural Production Golden Visa project, which will need to be pre-approved by the Portuguese government through GEPAC.

3. Scientific research

Golden Visa investors can also make a capital transfer equal to or more than €500,000 in research activities conducted by public or private scientific research institutions involved in the national scientific or technological system.

4. Creation of 10 jobs

Under the program, investors must create at least ten full-time jobs. In low density population areas, this number is reduced to eight. All these positions must align with Portugal’s labor and social security standards.

5. Company set-up option

Foreign entrepreneurs and investors can establish or invest in an existing Portuguese business. This investment may involve creating new jobs.
There are two investment options in this category:

• Incorporate a company in Portugal, with a share capital of €500,000 plus creating five permanent jobs
• Increase the share capital of an existing Portuguese company by €500,000 and fulfill the job requirements as stipulated by the Portuguese Government.

Investment options that are no longer eligible

In October 2023, the Portugal Golden Visa changes incorporated the Mais Habitaçāo (More Housing) bill. The aim is to increase Portugal’s supply of rental housing, combat real estate speculation, and restrict rent increases.

• Real estate investment: Acquire a real estate property worth more than €500,000 in Portugal.
• Real estate purchase: Buy a property with construction dating back more than 30 years or located in urban regeneration areas for refurbishing for a total value equal to or above €350,000.
• Capital transfer: Make a transfer of a value equal to or above €1.5 million.

Portugal Golden Visa Requirements

Minimum stay requirement

The Golden Visa 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 two years).

Golden Visa investment requirement

You must present supporting evidence that you have invested the minimum amount required. A declaration of honor compromising to maintain the investment for five years is also needed.

Required documents for the Portugal Golden Visa

The following Golden Visa Portugal documents are required, and the Portuguese government can change them at its discretion. Golden Visa applicants must submit the documents for the initial application and each renewal. The following documents are required:

1. Portugal Golden Visa application form
2. Copy of a valid passport and travel documents
3. Declaration from your bank in Portugal confirming the transfer of funds from abroad
4. Proof of health insurance in Portugal (only required if the investor resides in Portugal)
5. A background check or a police clearance letter from your country of origin, issued no more than 90 days before submitting your application.
6. A declaration of honor compromising to maintain the investment for five years
7. Documents showing a good standing with the Portuguese Tax and Customs Authority
8. Document showing non-enrollment or a good standing with the Social Security
9. A receipt showing that you 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.

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.

You can apply for an NIF at the local tax office, appointing a legal representative or through a third-party provider that handles the entire NIF application on your behalf. In practice, it can be tricky to get an appointment to request the NIF number in Portugal, as most tax offices have a long queue for their NIF services that often start early in the morning, before opening hours.

Opening a Portuguese bank account

You will need to open a Portuguese bank account for 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.

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, it is 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.

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, and is sometimes referred to as the Portugal Golden visa official website.

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:

1. Login to the ARI Portal Registration page
2. On the Application page, proceed to the “Calendar” option
3. Select the service station (availability is guaranteed in several AIMA branches in the national territory)
4. Select Year, month, day and time
5. 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 Processing Time

Year 0
The visa application and the supporting documents are submitted online to AIMA. Once they approve your application, you then need to appear for an interview in person, in AIMA. As the main applicant, you and all your dependents can book the AIMA appointment simultaneously.

You’ll then need to wait between 9-12 months before your residence permit is issued. Once granted, the initial permit is valid for two years.

Year 2
After the two years are up, the residence permit must be renewed. The second permit is valid for two more years.

Year 4
The residence permit will be up for renewal at the end of year four. This can be renewed for another two years.

Year 5
You can apply for permanent residency and/or Portuguese citizenship at the end of the fifth year if you meet the requirements. Once the citizenship is granted, you can obtain a Portuguese passport.

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 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 Portugal Golden Visa

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.

Portugal Golden Visa Taxes

Income tax benefits are a big draw for foreign investors looking to get the most out of their financial contributions. Golden Visa holders don’t need to pay extra taxes on income produced outside of Portugal.

There’s also an option to register as a tax resident in Portugal and benefit from the country’s newly-implemented Tax Incentive Scheme for Scientific Research and Innovation (IFICI). Often referred to as NHR 2.0, this tax scheme replaces the Non-Habitual Tax (NHR) Regime, which ended in 2023.

Under IFICI,  a 20% flat tax rate applies to income derived from eligible employment and self-employment activities within Portugal for a duration of up to 10 years.

Additionally, income earned abroad, excluding pensions, is exempt from taxation in Portugal under this regime, provided it is declared for tax progression purposes. Unlike the previous NHR regime, foreign-sourced pensions are now subject to taxation at progressive rates.

Applications must be submitted by January 15 of the year following the establishment of tax residency in Portugal. For individuals who became tax residents in 2024, a transitional deadline of March 15, 2025, applies.

Portugal Golden Visa to Citizenship

Golden Visa holders can apply for Portuguese citizenship after five years of legal residence in Portugal, calculated from the date the application was made.
To apply for Portuguese citizenship, you need to submit several key documents, including:

• Clean criminal record: Obtain a certificate confirming you don’t have significant criminal convictions.
• Clean health record: Provide a health certificate indicating that you are in good health and do not have any serious or communicable diseases.
• Proof of Portuguese residency: If applying through the naturalization route, submit evidence of your legal residency in Portugal. This includes documentation such as a residence permit, utility bills, rental agreements, or other official records demonstrating that you have lived in Portugal for the required period, as stated above.
• Fluency in Portuguese: Show proof of Portuguese proficiency, for example, by completing the CIPLE (Certificado Inicial de Português Língua Estrangeira) test or providing equivalent evidence.

You’ll also need to present a completed Portugal citizenship application form, a valid passport (proof of identification), and proof of payment for the application processing fee.

Portugal Golden Visa 2025: What to expect?

Despite many rumors, the Portugal Golden Visa Program did not end in 2023 and is more popular than ever in 2025. However, potential Golden Visa investors can expect several changes to impact the application process in 2025.

For example, all documents must now be uploaded through the ARI portal, replacing paper-based applications. This includes personal and investment-related documentation, which must be resubmitted online for validity checks.

Additionally, starting in January 2025, biometric appointments are scheduled automatically based on the chronological order of document uploads, with a 30–90-day advance notice. Applicants cannot choose the location or time, but AIMA has expanded service points nationwide.

AIMA is also expected to reduce the significant application backlog by June 2025, prioritizing older applications and automating workflows. After dealing with the backlog, processing is expected to return to the regular four to six-month time frame.

Even though the government restructured the Portugal Golden Visa scheme by removing commercial and real estate investments as qualifying investment routes, it also formalized the new Solidarity Visa Portugal. This visa option aims to channel private capital into social investment for immigrant integration projects. This includes investments in reception infrastructure, integration projects, and support for vulnerable immigrants.

According to the most recent statistics for the Golden Visa, 15,619 investors and 22,000 family members have benefited from the Golden Visa from October 2012 until September 2024. Historically, Chinese nationals have been the dominant applicants. However, it is expected that citizens of the USA, Brazil, Turkey, Nigeria, Hong Kong, and South Africa will also become strong investors through the Portugal Golden Passport.

Living in Portugal

Portugal is an affordable option for a more comfortable lifestyle compared to other Western European countries. It offers a high quality of life thanks to its excellent education and healthcare systems. Furthermore, foreign residents can take advantage of attractive tax incentives if they are properly structured.

If you plan on moving to Portugal through the Golden Visa Program, here are some key aspects to consider:

Healthcare

Portugal’s healthcare system is a blend of public and private services. The public system (Serviço Nacional de Saúde or SNS) offers free or low-cost care to citizens and foreign residents, funded through taxes.

EU citizens can access public healthcare using the European Health Insurance Card (EHIC), while non-EU expats must obtain residency or private insurance to qualify.

Though the quality of public care is generally good, wait times for non-urgent procedures can be lengthy, prompting many expats to opt for private health insurance (€50–100/month) for faster access to specialists and facilities.

Dental care, however, is mostly privatized and not covered by the public system, so supplemental insurance is recommended for comprehensive coverage.

Safety

Portugal is consistently ranked among the safest countries in the world, placing 7th on the Global Peace Index. Violent crime is rare, and the country is widely regarded as safe for solo travelers, women, and families. That said, petty crimes like pickpocketing can occur in crowded tourist areas such as Lisbon’s Alfama or Porto’s Ribeira district.

Residential neighborhoods and smaller towns generally feel secure at all hours, and locals are known for their welcoming, helpful attitude toward foreigners. Emergency services are reliable and can be reached by dialing 112, a centralized number for police, medical, or fire assistance.

Cost of living

While Portugal is generally considered affordable, expenses vary significantly depending on location. In major cities like Lisbon and Porto, rental prices for a one-bedroom apartment in the city center can range from €1,000 to €1,500 per month, while similar accommodations in suburban or smaller towns drop to €400 to €800 per month. Daily expenses are generally manageable: a monthly grocery budget for two people averages around €200 to €300, and dining out at a mid-range restaurant typically costs €12–20 per person.

Public transportation is efficient and affordable, with monthly passes in Lisbon or Porto priced at approximately €40. Utilities like electricity, heating, and water average €100–150 per month. Coastal areas like the Algarve tend to be pricier due to tourism, whereas rural regions and smaller cities provide more budget-friendly living.

Family activities and attractions

Portugal is a fantastic family destination, offering cultural, educational, and outdoor activities.

In Lisbon, highlights include the Oceanário de Lisboa, one of Europe’s largest aquariums, and the Lisbon Zoo, while Porto’s World of Discoveries museum provides interactive lessons on Portugal’s maritime history.

Day trips to Sintra, with its fairy-tale palaces like Pena Palace and Quinta da Regaleira, or to the medieval university city of Coimbra, offer enriching cultural experiences.

The Algarve region is a paradise for families, boasting child-friendly beaches like Praia da Marinha and attractions such as Zoomarine, a marine-themed park with dolphin shows. Nature-loving families can explore hiking trails in Peneda-Gerês National Park or take scenic boat tours along the Douro Valley.

In June, annual festivals like Carnaval and Lisbon’s Santo António celebrations add to the country’s vibrant atmosphere. Many museums and attractions offer discounted rates for children, and public parks, beaches, and historic sites are often free, making it easy to enjoy Portugal’s offerings without overspending.

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

Is the Portugal Golden Visa still available?

Yes, the Portugal Golden Visa is still available. However, as of October 2023, real estate investments no longer qualify. Investors can obtain the visa through options like venture capital funds, scientific research, or cultural donations.

Is the Golden Visa Portugal available for UK Citizens?

Yes, the Portugal Golden Visa for UK citizens is available. British nationals can apply by making qualifying investments in areas like venture capital funds, scientific research, or cultural projects. The program grants residency with a minimum stay of seven days per year and offers citizenship eligibility after five years.

Is the Golden Visa Portugal available for US citizens?

Yes, the Portugal Golden Visa for US citizens is available. Americans can apply by making qualifying investments, such as in venture capital funds, scientific research, or cultural projects.

Is the Portugal Golden Visa better than the Spain Golden Visa?

The main difference between the Portugal Golden Visa and the Spain Golden Visa is the investment requirements, residency obligations, and path to citizenship. Portugal requires a minimum €250,000 investment with a stay of seven days per year and offers citizenship after five years. Spain requires at least €500,000 with longer residency requirements and citizenship eligibility after 10 years.

Cyprus versus Portugal Golden Visa: Which program is better?

The main difference between the Cyprus and Portugal Golden Visa programs is cost, residency requirements, and citizenship timelines. Cyprus requires a €300,000 property investment with permanent residency in two months but stricter physical presence for citizenship. Portugal requires €250,000 in alternatives like funds with seven-day annual stays and citizenship after five years.

Do I need to do the Portuguese Golden Visa language test?

Yes, you need to pass a Portuguese language test for the Portugal Golden Visa to obtain citizenship. The test, required at the A2 level, assesses basic speaking, reading, and writing skills. It is mandatory when applying for citizenship after holding the visa for 5 years but not required for initial residency.

Do dependents qualify for the Portugal Golden Visa program?

Yes, dependents qualify for the Portugal Golden Visa program. Eligible dependents include spouses, children under 18, dependent children up to 26 if studying, and dependent parents of either spouse. They receive residency rights under the main applicant’s visa with access to healthcare, education, and eventual citizenship.

What are the Portuguese Golden Visa healthcare benefits?

The Portuguese Golden Visa grants access to Portugal’s public healthcare system. Residents receive affordable medical services, including doctor visits, hospital care, and emergency treatment. Holders can also use private healthcare with optional insurance. Healthcare access applies to dependents under the same visa, ensuring comprehensive coverage.

What's the Portugal Golden Visa processing time?

The Portugal Golden Visa processing time typically takes 12 to 24 months. The timeline includes application submission, AIMA review, biometric appointments, and final approval. Delays may occur due to document verification or high application volumes. Residency cards are issued shortly after approval.

Is it possible to get your money back with the Portuguese Golden Visa?

Yes, it is possible to get your money back with the Portuguese Golden Visa. While capital return is not guaranteed and varies with risk levels, fund investments depend on market performance. However, it’s not possible to receive a refund through the Golden Visa. Once the investment is made, it’s typically not refundable.