Portugal Golden Visa Investment Guide

The Portugal Golden Visa is a residence-by-investment program for non-EU nationals seeking legal residency in Portugal through qualifying financial contributions. Unlike general residency permits, this program specifically targets investors willing to support Portugal’s economic growth through government-approved investment routes.

As of 2025, the Golden Visa no longer includes the popular real estate investment option. Instead, the program focuses on strategic investments such as venture capital and private equity funds, scientific research projects, cultural heritage preservation, and job creation initiatives.

In this guide, we will provide a clear, up-to-date overview of the current Portugal Golden Visa investment options, eligibility requirements, application process, and benefits. We want to help investors make informed decisions in line with the latest legal framework.

Who Can Apply for the Portugal Golden Visa?

The Portugal Golden Visa is open to non-EU, non-EEA, and non-Swiss nationals who meet specific eligibility criteria designed to attract genuine investors.

Key Eligibility Requirements

• Nationality: Applicants must hold citizenship from a country outside the European Union (EU), European Economic Area (EEA), or Switzerland.
• Age: Applicants must be at least 18 years old.
  Clean criminal record: A clear background check is mandatory, demonstrating no serious criminal offenses in Portugal or abroad.

Residency and Investment Commitments

• Applicants must commit to maintaining their qualifying investment for a minimum of five years.
• You must spend at least 14 days every 2 years in Portugal to fulfill your residency obligations.

The goal of the Portugal Golden Visa is to encourage active investment and engagement in Portugal’s economy. It’s not for those seeking passive residency or nominal ties. Investors must meet both financial and physical presence criteria to benefit fully from the Golden Visa.

Need help meeting the Portugal Golden Visa requirements? Let our legal team guide you through each step.

Portugal Golden Visa Investment Options

To qualify for the Portugal Golden Visa, applicants must meet specific minimum investment thresholds in approved asset types. 

Portugal Golden Visa Investment Requirements

Fund Subscription

Invest €500,000 in a qualifying Portuguese private equity or venture capital fund.

• Funds must be registered in Portugal and cannot hold real estate assets.
• Investment units must be held for at least five years.
• Ideal for those seeking portfolio diversification without active involvement.

Company Investment / Job Creation

Choose from three options that promote job growth in Portugal:

• Option A: Create 10 full-time jobs through a company that you own in Portugal.
• Option B: Create 8 full-time jobs if the company is in a low-density area.
  Option C: Invest €500,000 in an existing Portuguese company that creates 5 new jobs and maintains them for at least three years.

Best suited to entrepreneurs or investors interested in contributing directly to the local economy.

Donation to National Heritage

Contribute €250,000 or more to an approved cultural project that preserves Portuguese heritage.

• Donations are non-refundable.
• A good fit for philanthropic investors looking to make an impact through the arts.

Donation Research & Development

Donate €500,000 or more to a certified scientific or technological research institution.

• Donations must be made to accredited entities in Portugal.
• Suitable for those interested in innovation and social advancement.

Real Estate (No Longer Offered)

As of 2025, real estate is no longer an eligible investment route under Portugal’s Golden Visa program. This includes direct property purchases and investments in funds tied to real estate. Applicants must now qualify through alternative investments that actively support the country’s economy, innovation, or cultural landscape.

Regardless of the investment option chosen, the funds or assets must be held for a minimum of five years to maintain compliance with program rules and qualify for residency renewal and eventual citizenship pathways.

What Documentation is Required?

When applying for the Portugal Golden Visa investment program, you’re required to submit a comprehensive set of documents. Below is a checklist to help you stay organized:

Personal Documents

• Valid passport with at least 6 months’ validity
• Criminal record certificates from your country of origin and any country you’ve lived in during the past year
• Portuguese Tax Identification Number (NIF). This is mandatory for all applicants

Proof of Investment Documents

Depending on your chosen investment route, you must provide the following:

• Venture Capital / Private Equity Funds:
  • Official subscription agreement or fund certificate
  • Proof of payment or investment transaction confirmation
• Cultural Heritage & Arts Contribution:
  • Donation receipt or official confirmation from the cultural entity
  • Documentation detailing the project or preservation work

Additional Steps

Once you have prepared all of the documents that are relevant to the pathway of your choice, you must translate all foreign documents into Portuguese (if applicable) and either have them apostilled or legalized. The team at Lexidy can help with this.

You will also be required to attend an in-person biometric appointment at the Agency for Integration, Migration and Asylum (AIMA) to submit fingerprints and photographs.

Before submitting your documents, make sure to double-check everything to avoid delays or requests for additional information.

Visa requirements can change — learn how we ensure your Portugal Golden Visa is fully compliant.

What Are the Benefits of the Portugal Golden Visa for Investors?

The Portugal Golden Visa offers several strategic advantages designed specifically for investors and their families:

• Residency rights for you and your family: The visa not only grants legal residence in Portugal to the primary investor but also to eligible family members, including spouses and dependent children.
  Visa-free travel across the Schengen Area: Golden Visa holders enjoy the freedom to travel without visas throughout the Schengen Zone, facilitating business and leisure across Europe.
• Minimal physical presence requirement: The Portuguese Golden Visa program allows a high degree of flexibility when it comes to your physical presence in the country. Unlike many residency programs, you are only required to spend 14 days every two years in Portugal, making it highly attractive for international investors.
• Clear path to permanent residency and citizenship: After 5 years of maintained investment and residency, applicants become eligible to apply for permanent residency and ultimately Portuguese citizenship, subject to passing a basic language proficiency test (A2 level).

These benefits collectively create a compelling investment and residency opportunity tailored to active investors seeking flexibility, family inclusion, and long-term European integration.

What Taxes Apply to Portugal Golden Visa Investors in 2025?

As of January 2024, the Non-Habitual Resident (NHR) tax regime is no longer available to new Golden Visa applicants. This change means new investors cannot benefit from the previously favorable tax treatment under NHR.

Tax Residency Rules

You become a Portuguese tax resident if you spend more than 183 days per year in Portugal or have a permanent residence there. As a tax resident, you are subject to taxation on your worldwide income.

If you do not meet the residency threshold, you are considered a non-resident and are generally taxed only on Portuguese-sourced income.

Taxes Related to Portugal Golden Visa Investments

• Investment fund gains are typically subject to Portuguese capital gains tax rules, which vary depending on the asset and holding period.
• Capital gains tax may apply when selling shares or other investments held in Portugal.
• Donations to cultural heritage or arts projects, while non-refundable, may qualify for specific tax exemptions or deductions depending on your circumstances.

Portugal Golden Visa Investment Timeline & Process

Understanding the application timeline and process is crucial for a smooth Portugal Golden Visa experience. Here’s a step-by-step overview:

Step 1: Choose and make your Portugal Golden Visa investment

Select an eligible investment option that meets the minimum thresholds and complies with the 5-year holding requirement.

Step 2: Gather required documents

Prepare all personal and investment-related documents, ensuring they are properly translated and apostilled where necessary.

Step 3: Submit your application

Apply online through the AIMA portal, uploading all required documents and paying the applicable fees.

Step 4: Attend a biometric appointment

After initial review, AIMA will schedule an in-person biometric appointment for fingerprinting and photographs at a local SEF office or partner location.

Step 5: Await approval

Processing typically takes 18 to 24 months from submission. Upon approval, you’ll receive your residence permit card valid for two years.

Step 6: Renew your residence permit

The Golden Visa residence permit is initially valid for 2 years and can be renewed every 2 years, provided you maintain your qualifying investment and meet minimal stay requirements (7 days per year).

Following this structured process and timeline ensures compliance and helps investors secure and maintain their residency in Portugal efficiently.

How Lexidy Can Help You Apply Successfully

Applying for the Portugal Golden Visa is a legal process that requires precision, compliance, and strategic decision-making. At Lexidy, we provide end-to-end legal support tailored to investors navigating today’s updated Golden Visa framework.

Our services include:

• Investment due diligence to ensure the fund or cultural project meets all legal criteria
• Verification of investment transactions and documentation for regulatory compliance
• Preparation and submission of your immigration application, including all supporting materials
• Coordination of biometric appointments and communication with AIMA
• Ongoing assistance with residence card renewals and future citizenship applications

We have extensive experience guiding clients through both fund-based investments and cultural contribution routes, helping them avoid delays, reduce risk, and stay fully aligned with Portuguese law.

Whether you’re ready to make your investment or still exploring, our golden visa lawyers in Portugal are here to help.

Ready to Make Your Portugal Golden Visa Investment?

The Portugal Golden Visa remains one of Europe’s most strategic residency-by-investment programs, offering flexibility, mobility, and a pathway to citizenship for those willing to invest in the country’s future. While the removal of real estate has changed the method by which you can invest, current options like funds and cultural contributions still provide meaningful opportunities for the right investors.

If you’re ready to explore your options with confidence, fill out the form below, and a member of Lexidy’s legal team will be in touch to guide you through every step of the process.