Portugal’s Golden Visa is one of the most sought-after immigration programs in Europe. It allows investors from non-EU countries to obtain residency in exchange for investments in the country’s economy. Over 11 years, the program has attracted more than €8 billion and issued over 30,000 residence permits.
Portuguese residency by investment is not just a way to legalize residence in Europe, but also an opportunity to travel freely within the EU, unfreeze assets, open accounts in international banks, and secure a “backup plan” in times of instability.
In November 2023, the government introduced changes to the Golden Visa program, reducing the available investment options.
Let’s break down the updated program: what options are available, how to apply, and what benefits Portuguese residency offers.
Eligibility Criteria
The program offers several investment options:
- Investment of €500,000 or more in investment or venture capital funds. At least 60% of the funds must be allocated to funds headquartered in Portugal. Holding period — 6 years.
- Investment in scientific research — from €500,000, or €400,000 in low-density regions.
- Non-refundable contributions to cultural heritage — €250,000, or €200,000 in less populated areas.
- Business creation with at least 10 jobs, or an investment of €500,000 in a company with mandatory employment of Portuguese citizens.
Previously available options such as bank deposits and real estate purchases were removed from the program in 2023 due to the housing crisis.
Today, investment funds remain the most liquid and secure path. Capital is directed into profitable companies, typically yielding around 8% annually.
The official processing timeline for residency by investment is about 12 months, but in practice it usually takes around 18 months. Still, despite the lengthy process, Portugal’s Golden Visa is worth the wait and the investment.
Investor Requirements
Applicants must meet the following requirements:
- Be at least 18 years old
- Have no criminal record
- Have no entry bans into the EU
- Be able to prove the legitimacy of financial resources
- Be able to visit Portugal for at least 7 days per year
Eligible family members include:
- Spouse (legally married to the main applicant)
- Children under 18, or up to 26 if financially dependent
- Parents over 65 years old
Required Documents for the Golden Visa
The application package includes:
- National ID and international passport
- Proof of legal entry and stay in Portugal
- Health insurance
- Criminal record certificate
- Proof of legitimate financial resources
- Employment certificate
- Portuguese tax number (NIF)
- Residency application form
- Fee payment receipt
- Passport-style photos
If family members are included, additional documents are required: birth and marriage certificates, passports, and proof of education/employment. All documents must be translated into Portuguese, notarized, and apostilled.
Application Process
Obtaining residency typically takes 12–18 months. The process involves:
- Choosing the investment option. The most effective choice under Portugal’s Golden Visa is investment in funds — this allows you to recover your capital after 6 years and earn annual returns in the meantime.
- Preparing documents, opening a bank account, and legalizing papers.
- Transferring funds and registering the investment in the chosen fund.
- Submitting the application to Portugal’s immigration authority AIMA, which conducts due diligence.
- Traveling to Portugal to provide biometrics and original documents.
- Receiving the residency card upon approval.
The residence permit must be renewed every two years. Physical presence requirements are minimal: 7 days during the first year, then 14 days every subsequent two years. After 5 years, you may apply for permanent residency and eventually citizenship.
Benefits of Portuguese Residency
Portugal’s residence permit provides:
- Visa-free travel across the Schengen Area
- Ability to open accounts in international banks and unfreeze assets
- Access to European healthcare and education
- Right to include family members in the application
- Eligibility for citizenship after 5 years
- No exams required for residence permit renewal
- A high level of personal safety
Portugal is also one of the most favorable jurisdictions for cryptocurrency investors. Income from digital asset transactions is tax-free, and crypto is treated as regular currency. However, it cannot be used as an investment source under the program — all funds are subject to rigorous compliance checks.
Beyond the program, Portugal is an open and welcoming country with a mild climate, beautiful landscapes, and rich culture. Many expats who relocate here choose to stay permanently.
Path to Citizenship
After 5 years of residency, investors can apply for permanent residence and then Portuguese citizenship. The passport provides visa-free access to 186 countries, including the Schengen Area, Japan, and Singapore. For travel to the US, Canada, Australia, and the UK, Portuguese citizens only need an electronic travel authorization (eTA).
Citizenship also grants full EU rights — to live, work, and study in any EU member state.
To qualify, applicants must meet the residency requirements and pass a Portuguese language test at the A2 level.
With over 30 years of expertise in investment migration, Astons investment immigration consultants are here to guide you. Contact our specialists for a free consultation — we will evaluate your case and help you secure Portugal’s Golden Visa.
