Key Program Details

Visa-free countries (after citizenship): 190
Visa-free access to EU Schengen Area: Yes (with the Golden Visa)
Average processing time: 12–18 months
Minimum cultural donation: €250,000
Real estate investment: Discontinued (as of November 2023)
Minimum fund investment: €500,000
Estimated total cost for one applicant: Starting from $271,650+
Estimated total cost for a family of four: Starting from $294,600+
Leads to permanent residency: Yes, after five years
Leads to citizenship: Yes, after five years, subject to A2-level Portuguese language proficiency
Investment holding period: 5–6 years (until permanent residency or citizenship)

Eligible Family Members:

• Spouse or life partner (legal marriage not required)
• Children under 18 years old
• Dependent children over 18 who are full-time students and financially dependent
• Parents over 65 (of the main applicant or spouse)
• Parents under 65 (if financially dependent on the main applicant or spouse)

Residency requirement: Minimum of seven days per year (or 14 days every two years)

For personalized assistance, contact ROC Citizenship & Immigration to schedule a free consultation. Our team will assess your eligibility and guide you through every stage of the application process.

Overview of the Portugal Golden Visa

Portugal’s Golden Visa Program presents a valuable opportunity for non-EU investors seeking European residency and the potential to achieve citizenship. The program provides a structured and secure investment-based pathway while granting visa-free access to the Schengen Area.

Purpose and Benefits

The Portugal Golden Visa, officially known as the Residence Permit for Investment Activity (ARI), was established to attract global capital and stimulate Portugal’s economy. It continues to offer multiple advantages, including:

• Residency Rights: Holders and their families can live, work, and study in Portugal.
• Visa-Free Travel: Access to the Schengen Area without additional visa requirements.
• Path to Citizenship: Eligibility for citizenship and an EU passport after five years, granting the right to reside and work across all EU member states.

History and Development

Introduced in October 2012 as part of Portugal’s economic revitalization efforts, the Golden Visa program was designed to encourage foreign investment. Over time, it has evolved to align with changing market conditions and EU regulations. In October 2023, the real estate investment route was officially discontinued, but alternative pathways—such as fund investments, job creation, and cultural or research contributions—remain available and continue to attract global investors.

Eligibility Criteria

To qualify for the Portugal Golden Visa in 2025, applicants must meet certain requirements related to investment, documentation, and personal eligibility.

Applicant Requirements:

• Obtain a Portuguese Tax Identification Number (NIF).
• Provide a clean criminal record from both their country of residence and Portugal.
• Make a qualifying investment, such as a fund contribution, business investment, or research donation.
• Fulfill the minimum residency requirement of seven days per year on average.

Eligible Family Members:

• Spouse or life partner
• Dependent children (under 18 or older if studying full-time and financially dependent)
• Dependent parents of either the applicant or their spouse

All family members included must also provide a clean criminal record.

If you are considering applying for Portugal’s Golden Visa, ROC Citizenship & Immigration offers expert assistance throughout the entire process—from investment selection to document preparation and submission.

Investment Routes and Costs (as of 2025)

Portugal’s Golden Visa offers several qualifying investment options tailored to different investor goals:

Investment Fund: Minimum €500,000 (recoverable, with potential returns)
Cultural or Artistic Donation: Minimum €250,000 (non-recoverable)
Scientific Research Contribution: Minimum €500,000 (non-recoverable)
Job Creation: Creation of at least 10 full-time jobs
Hybrid Option: Invest €500,000 and create five full-time jobs

Detailed Cost Breakdown and Comparison

The Portugal Golden Visa allows for different investment routes, each with varying costs depending on the investor’s goals, the type of contribution, and the number of applicants. The two main options most investors choose are the investment fund route and the cultural or donation route.

For a single applicant, the total cost over five years—including fees, government charges, and additional expenses—generally ranges from approximately €281,000 (donation route) to €541,000 (fund route).

For a family of four, the cost typically ranges from about €325,000 for the donation route to around €585,000 for the investment fund option.

These estimates include application and renewal fees, legal representation, health insurance, and administrative expenses required to maintain residency status.

The Application Process

The process of obtaining residency through Portugal’s Golden Visa involves several structured steps and detailed documentation. While the overall journey can take over a year, careful preparation and professional guidance can make it smooth and predictable.

1. Documentation and Preparation

Applicants must first obtain a Portuguese tax identification number (NIF) and open a local bank account. Required documents include:

• Proof of qualifying investment
• Valid passport and entry visa
• Evidence of clean criminal record
• Proof of residence or address
• Certified translations of all official documents into Portuguese

Dependents under the age of 18 may be included at no additional government charge. Dependents older than 18 must provide proof of full-time education and financial dependence, along with additional documentation.

2. Submission and Approval Stages

• Expression of Interest: Applicants first submit an online application to AIMA (Agência para a Integração Migrações e Asilo).
• Pre-Approval: Authorities verify the investment and eligibility.
• Document Submission: Once pre-approved, the complete application and supporting documents are reviewed.
• Biometric Appointment: Applicants attend a session in Portugal for fingerprinting and data collection.
• Final Approval: Upon completing all verifications, a residence permit is issued.

The overall approval period generally ranges from 12 to 18 months.

Rights, Obligations, and Benefits

The Portugal Golden Visa provides investors with a secure legal framework that grants residency rights while maintaining compliance with Portuguese and EU regulations.

Freedom of Movement

Golden Visa holders can freely travel across the Schengen Zone, covering 26 European countries, without the need for additional visas. Residency maintenance requirements are minimal, requiring only seven days in Portugal per year or 14 days within every two-year period.

Pathway to Citizenship
After maintaining residency for five years and meeting the program’s requirements, investors may apply for permanent residency or citizenship through naturalization. Citizenship grants the right to live, study, and work anywhere within the European Union and provides a Portuguese passport with visa-free access to 190 destinations.

Family Inclusion
The program supports family reunification, allowing the main applicant’s spouse, dependent children, and parents to obtain residency. Family members enjoy access to healthcare, education, and employment opportunities in Portugal and across the EU. Children benefit from world-class education and the freedom to live and study throughout Europe.

Living in Portugal

Portugal is known for its relaxed lifestyle, beautiful coastline, and strong sense of community. The country offers residents a combination of safety, affordability, and access to the European lifestyle, making it an ideal destination for investors and families alike.

Quality of Life

Portugal consistently ranks among Europe’s best destinations for quality of life. Residents enjoy a mild climate, a relatively low cost of living, and a safe, welcoming environment. The Non-Habitual Resident (NHR) tax regime further enhances its appeal, offering favorable tax treatment for new residents, particularly retirees and skilled professionals.

Healthcare and Education

Portugal’s healthcare system is efficient and accessible, offering both public and private options. Residents have access to excellent hospitals, clinics, and specialists. Education is also of high quality, with a wide selection of international schools and universities available throughout the country.

Economic and Business Environment

Portugal’s economy continues to grow steadily within the EU framework. It welcomes entrepreneurs and investors, particularly those in innovative and technology-driven sectors. The Golden Visa initiative reflects the nation’s ongoing efforts to attract international capital and long-term residents.

Financial and Tax Considerations

Taxation and the NHR Regime

Portugal’s Non-Habitual Resident (NHR) program offers favorable tax benefits for up to ten years. It may allow for exemptions on certain types of foreign income, including pensions, dividends, and royalties, while applying a flat 20% tax rate on qualifying domestic income for specific high-value professions.

Key Highlights:

• Tax exemptions may apply to foreign-sourced income for a decade.
• A 20% flat tax on certain high-value Portuguese income.
• No inheritance or wealth taxes on international assets.

Investment Options and Analysis

Following the discontinuation of real estate as a qualifying investment in 2023, investors now turn to fund-based opportunities such as venture capital and private equity funds.

• Venture Capital Funds: Focus on startups and emerging companies with potential for higher returns.
• Private Equity Funds: Invest in established businesses with long-term growth stability.

Each qualifying fund requires a minimum investment of €500,000, maintained for at least five years, with 60% of capital allocated to Portuguese-based ventures.

Post-Residency and Citizenship

Permanent Residency

After five years, investors can apply for permanent residency. This status allows full access to Portugal’s benefits, including the right to live, work, and study indefinitely while continuing to enjoy Schengen travel privileges.

Citizenship Application

Golden Visa residents may apply for citizenship after five years of legal residence. To qualify, applicants must demonstrate a clean criminal record, basic Portuguese language proficiency (A2 level), and tangible ties to the country.

Successful citizenship grants a Portuguese passport and full EU rights, including freedom of movement, employment, and residence across all member states.