Portugal Golden Visa Updates: New Rules for 2024/2025
Is the Portugal Golden Visa going away?
The Portuguese Golden Visa has become among the best residency-by-investment programs around the globe. Unfortunately, there were rumors that the visa was going away.
While real estate and direct capital investment options leading to the Golden Visa have been discontinued, it has not gone away completely. There are still options to invest in the Golden Visa.
Keep reading to learn more about the Portugal Golden Visa updates and new rules for 2024.
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What is the Portugal Golden Visa Program?
The Portugal Golden Visa Program is a five-year residence-by-investment scheme for non-EU citizens. This permit allows visa-free access to Europe’s Schengen Area and gives you the right to live, work, and study in Portugal. It allows you to get Portuguese permanent residence or citizenship in just five years and is one of the quickest in Europe.
It’s one of the most popular ways people research when learning how to move to Portugal.
Why live in Portugal?
In 2022, Portugal was once again named the number one European destination by World Travel Awards, in addition to Portuguese locations topping several other categories. Living in Portugal comes with so many benefits, as it’s such a welcoming and beautiful place. Some main benefits include:
✓ Great weather, culture, and events year-round
✓ Beaches, mountains, and castles
✓ English is widely spoken
✓ Safe environment for singles, women, and children
✓ Digital-nomad friendly and welcoming to foreigners
✓ Relatively low cost of living
✓ Beneficial tax incentives like the NHR program
Check out our original “Why Portugal?” list, what Portugal is famous for, or peruse 72 Pros & Cons of Living in Portugal as an Expat in 2024.
Is Portugal going to suspend its Golden Visa program?
The Prime Minister of Portugal, António Costa, announced that several visa schemes, including the Portugal Golden Visa, are being reevaluated. Should this proposal proceed, there is no indication of when it will come into effect. Applications remain open to apply for the Portugal Golden Visa, and applications already submitted are protected by the law and will not be affected. Recent news suggests the program is here to stay for the time being. But, if you’re considering the GV, experts recommend acting sooner than later.
Who is eligible for a Golden Visa?
To qualify for the Portugal Golden Visa Program, you must make an investment and hold that investment for five years. The respective investment is usually in specific funds or real estate. The Golden Visa requirements include:
✓ Be a non-EU, non-EEA, or non-Swiss resident
✓ Minimum investment of €280,000, depending on which investment option you choose
✓ No criminal record
✓ Able to spend a minimum of 7 days in Portugal the first year, then 14 days for each two-year period after
How does the Golden Visa Portugal application process work?
The Portugal Golden Visa process is really straightforward. Here is the timeline and onboarding process.
Fill out the initial paperwork for yourself and any other dependents in the application
Set up a bank account and obtain a NIF (tax identification number)
Choose and make your investment out of the options available
Submit your pre-application online. This is usually done for you by a law firm, facilitator, or consultant
Upon the investment and the right documentation, the investor provides their biometrics to the Portuguese immigration authorities
After your biometrics, processing approvals take around 6 to 9 months (Golden Visa applications were held up due to delinquencies at SEF, but have begun to be processed again)
Once approved and residency card fees are paid, you get your first card which is valid for one year
After this, you may go to Portugal at any time for 7 days to fulfill the Golden Visa requirement
How to apply for the Portuguese Golden Visa?
Whether you are currently in Portugal or still researching your options from afar, the process for obtaining the Golden Visa is the same. It is recommended to hire an advisor, but it’s not mandatory. To get the Golden Visa process started, the first step is choosing your investment option and filling out the paperwork.
Successfully applying for the Portuguese Golden Visa requires expertise. It is wise to work with a lawyer/consultant/facilitator to help you through the process or choose an investment option that is handled by experts as a turnkey service.
Portuguese Golden Visa Investment Options
There are a number of different options for investing into the program:
Fund Subscription: Make a contribution to an investment qualified Fund worth at least €500,000
Capital Transfer: Make a capital transfer of at least €1.5 million
Scientific Research: Science or Technology research contribution of at least €500,000
Job Creation: Company incorporation and creation of 10 jobs amounting to a minimum value of €500,000
Donation: Support the arts or reconstruction of national heritage with a donation of at least €250,000
Benefits of Getting a Golden Visa
✓ Visa-free travel in Europe’s Schengen Area
✓ Eligibility for permanent residency or citizenship after five years
✓ Minimal physical presence in Portugal required, especially compared to the D7 Passive Income visa
✓ Access to Portuguese public healthcare
✓ Access to international and Portuguese schools and universities
✓ Great quality of life
Can Portugal's Golden Visa get me citizenship?
Yes! After obtaining the Portugal Golden Visa and fulfilling the requirements for five years, you are eligible to apply for permanent residency or citizenship.
Changes in 2022 for a Portuguese Golden Visa
✘ Investors are no longer able to invest in residential property
⬆ The capital transfer amount increased from €1 million to €1,5 million - THIS OPTION IS GOING AWAY SOON!
⬆ Investment Fund minimum subscription requirement has increased from €350,000 to €500,000
⬆ Investment in scientific research has increased from €350,000 to €500,000
⬆ Investment into an existing Portugal-registered business has increased from €350,000 to €500,000
Changes in 2023/2024 for real estate investments & Capital Transfers
✘ Obtaining a Golden Visa via real estate investment is no longer an option
✘ Obtaining a Golden Visa via capital transfer will no longer be an option
Are there Golden Visa investment opportunities in Lisbon?
Due to changes in Portugal’s Golden Visa program in 2023, you will no longer be able to invest in real estate. However, there are other investment opportunities in Lisbon:
✓ Investment funds like Tejo Venture’s Solar Future Fund
✓ Business investment and job creation
✓ Research and development
✓ Arts, culture, and national heritage donations
Visa Costs
Process Analysis – Biometrics
€533,90 per investor/family member
Issue of the Golden Visa Card
€5.336,40 per person
Renewal - Year 1 & year 3
€2.668,20 per person
Portuguese Golden Visa Program for Family Members
At the same time you are applying for the Golden Visa yourself, you can also include the following on the same application:
✓ Spouse or partner
✓ Children under 18
✓ Dependent children under 26
✓ Parents of the main applicant, if over the age of 65 years old
Documents Required
✓ Valid passport
✓ Proof of international health insurance
✓ Proof of clean criminal record
✓ Documents proving the completion of the investment
✓ Documentation proving family ties, in the case of family reunification, issued less than 6 months previously
Golden Visa Statistics
12,718 main applicants have been granted Portugal Golden Visa and brought 20,424 dependent family members with them (source)
The top five country residents who have obtained the Portugal Golden Visa are China, Brazil, USA, Turkey, and South Africa
Real estate dominated the investment options until this option was discontinued in 2022/2023
Portugal Golden Visa Processing Time
The processing time for the Portugal Golden Visa takes anywhere between 6 to 12 months in total. This is a rough estimate, as changeover between SEF and AIMA have caused delays in the past and nothing is guaranteed. If you’re looking for a faster way to move to Portugal, you may consider the new Portugal Digital Nomad Visa or the D7 Passive Income Visa as good alternatives.
Move to Portugal
