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Portugal’s Golden Visa programme has not closed, however, how you can apply has changed. Read our Portuguese Golden Visa guide to discover the route to Portuguese citizenship by investment.
The Portuguese Golden Visa programme is the adopted name for Portugal’s hugely successful residency programme that grants non-EU nationals and their families the ability to travel freely to countries within the Schengen zone. After five years, it is then possible to apply for a Portuguese passport and become a full European citizen.
Has Portugal's Golden Visa programme ended?
While it is no longer possible to gain a Golden Visa application through buying property in Portugal, the Portuguese Golden Visa programme has not ended, all of the incredible benefits remain the same and there are still several ways to apply such as investing in a qualifying Portuguese investment or venture capital funds.
Talk to us about Golden VisaHow to get a Portuguese Golden Visa
The Golden Visa programme in Portugal is not over. Athena Adviser Niamh Erbek explains how to access this hugely popular residency programme in 2024 through investment.
Benefits of the Portugal Golden Visa Program
- Instant free travel across the 27 Schengen countries
- Obtain the Portuguese Passport and EU residency after 5 years
- Only a minimum fund investment of €500,000 is required
- Access to Portuguese education and healthcare
- One application only is required for the investor and their direct family
- The Portugal Golden Visa process takes only 4-6 months to receive residency cards, allowing applicants to work, live and study in Portugal
- No relocation is required (low requirement for staying in the country during and after the application process)
Who can apply for a Portuguese Golden Visa?
The Golden Visa scheme is open to anyone with a clean criminal record who is not a Portuguese, EU or EFTA citizen. This means that Portugal Golden Visa has been open to UK citizens since 2021. The scheme is particularly popular with investors from China who account for more than 50% of visa applicants. Investors may also include qualifying family members in their application such as their spouse, dependent children, dependent parents or dependent parents-in-law.
Portugal Golden Visa Funds Explained
The Golden Visa fund route allows those who invest at least €500,000 in qualifying funds to apply for residency for themselves and their families. The companies that benefit from the capitalisation must be at least five years old at the time that the investment is made and at least 60% of the investments are realised in a commercial company with its HQ in Portugal.
Advantages of applying via a fund
- A very hands-off investment: One advantage for investors is that the entire process can be managed remotely and the fund managers will manage the investment for you.
- Generate strong yields through Portuguese Golden Visa funds: There is a range of funds available with varying levels of risk. This means if you are comfortable with more risk there is potential for strong returns. Plus, there is potential for capital appreciation should you decide to sell your investment in the future.
Drawbacks of applying via a fund
- Risk: All funds come with an element of financial risk and they cannot guarantee a return this is why you must choose a trusted, qualifying fund that meets your investor style. Some experienced investors are comfortable working with higher risk for higher rewards whilst others who may not be so used to dealing with intangible assets may wish to take a more cautious approach.
- Illiquidity: Fund units are illiquid until maturity which means that you cannot sell them straightaway if you need more cash urgently.
How to apply for Portuguese residency by investing in a fund?
There are several ways to apply for a Portuguese Golden Visa and one of the most popular ways is investing €500,000 in a qualifying fund.
- Plan a visit in person — obtain a Portuguese tax number (NIF), open a bank account and complete necessary documentation (powers of attorney, investment declarations, etc.)
- Submit all your documents online
- Present the proof of transfer of funds — and a declaration confirming compliance with the visa’s investment requirements
- Book an appointment — with the immigration authorities (SEF) to obtain final answer/approval – Up to 6 months
- Obtain a temporary residency card — up to 1 month after approval
In addition, applicants will need to maintain the investment for at least five years and stay in Portugal for seven days per year until they apply for full citizenship or residency.
Portugal Golden Visa process and time frames
In addition to your real estate investment, there are some administration fees that you will need to take into consideration. The application fee during the petition phase costs €533.90 per applicant. During the granting phase, all applicants will need to pay €5,336.40 each for their initial residency permit. You can expect to renew your visa twice after your 1st and 3rd year as a resident. This renewal process costs €2,668.20 per applicant.
Obtaining a temporary residency permit is fast (around 1 year), full citizenship is possible after 5 years.
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Frequently Asked Questions
The Golden Visa is a residency-by-investment program in Portugal, allowing non-EU/EEA/Swiss nationals to obtain residency by making qualifying investments.
The options are:
- A capital transfer of at least €1 million into a Portuguese bank account or an approved investment option; or,
- Investing €500,000 or more into approved investment funds; or,
- The creation of at least 10 jobs in Portugal.
One of the benefits of the Golden Visa programme is that you can add numerous family members to your application including:
- Spouse or legal partner
- Unmarried children under 26 who are enrolled in full-time education
- Parents or parents-in-law who are 66 years old, or 55 years old and dependent on you
- Siblings under 18, if you are legally responsible for them.
Yes. Following the UK’s departure from the EU, UK citizens can now apply for Portuguese Golden Visas for themselves and immediate family members.
No, you do not need to take a language test in order to become a resident. However, if you decide to apply for Portuguese citizenship. you will need to pass an A2 Portuguese test, have a clear criminal record, pay all relevant taxes and demonstrate a decent connection to living in the country.
Yes, the Golden Visa is still available for non-EU/EEA/Swiss nationals who meet the investment criteria, although changes have been made to the program, particularly regarding property investments.
To obtain a Golden Visa, you need to make a qualifying investment, such as a capital transfer, investing in approved funds, or job creation. The application process involves submitting the necessary documents through Portugal’s immigration services.
In addition to your investment, there are some administration fees that you will need to take into consideration. The application fee during the petition phase costs €533.90 per applicant. During the granting phase, all applicants will need to pay €5,336.40 each for their initial residency permit. You can expect to renew your visa twice after your 1st and 3rd year as a resident. This renewal process costs €2,668.20 per applicant.
Yes, after maintaining the investment and residency for a certain period (typically five years), you may be eligible to apply for permanent residency or citizenship in Portugal.
The value of the Golden Visa depends on your personal and financial goals. It offers the benefits of EU residency, including visa-free travel within the Schengen Zone, but it requires a significant financial commitment.
