Portugal Golden Visa Residence Program

Make your life easier by applying for Portugal Golden Visa with expert support!

Portugal is one of the countries that welcomes investors by offering a residence permit and path to citizenship based on investment in the nation’s development. It is a great option if you are looking to secure residency in Portugal, a western EU nation with a lot to offer, without extensive commitments regarding time spent in the country.

This kind of investment-based residence permit is best known in Portugal as the Golden Visa program. The Golden Visa in Portugal is officially known as the “residence permit for investment activity”  or ARI, its acronym in Portuguese. The program enables non-EU/EEA citizens to apply for and obtain the coveted “Golden Visa” residence permit in exchange for a five-year investment in Portugal.

You can qualify for the Golden Visa by investing in different sectors – without any obligation to live full-time in Portugal. You only need to live in Portugal 7 days per year to keep your Golden Visa active.

Here, we will explain the intricacies of Portugal’s Golden Visa: key qualifications, available investment options, advantages, required documents, and, finally, the possibility of obtaining Portugal/EU citizenship and passport based on the Golden Visa. If you still have questions, please contact our team for a consultation regarding this visa or other similar options! We can also advise on other visa programs, such as Portugal’s D7 visa (more on that at the end of this article). You have two choices in consultation. One is a free, fifteen-minute meeting, to get some questions answered or an overview of a service, and the other is a paid session with an expert that lasts one hour, to dig deeper into your specific requirements and goals (currently priced 300 euros, reduced from 500 for a limited time).

Portugal Golden Visa: Why is it the Best in Europe?

Golden Visa programs are typically a form of immigration by investment and are available in multiple countries. However, few others can boast the popularity of the Portuguese Golden Visa. So, why is it the best Golden Visa program?

Here are the main reasons:

• Accessible Investment Amounts: You don’t need to be super rich to benefit. In fact, many people who invested five years ago greatly increased the value of their investments, so the program ended up costing them nothing. You can choose from a variety of investment options.
• Family Friendly: It’s easy to include your family members in your Golden Visa application. Children can benefit from access to schools and universities all over Europe at the same discounted rates available to all other EU residents.
• Portugal is in Schengen: A Golden Visa holder, as a Schengen resident, can travel completely freely within the Schengen area. This means no time limits and no need to apply for visas.
• Free to Travel: You only have to spend a minimum of 7 days per year in Portugal in order to comply with the terms of your Golden Visa. You are not tied to one place.
• Portugal is a member of the EU and the OECD: It will not be blacklisted by those organizations and provides you with opportunities within a significant, economic and political bloc. 
• Path to Citizenship: Many Golden Visa holders have already received Portuguese citizenship. A Portuguese passport allows you to live and work permanently in any member country of the European Union, and others with agreements with the EU, such as Switzerland and Norway.

Of course, perhaps the biggest advantage of all is that Portugal is a beautiful, historic country, with friendly people, great weather, wonderful food and wine, and a relaxed lifestyle. It has fast become home to many businesses and entrepreneurs, has a favorable geographic location for security, and is very affordable compared to the rest of Western Europe.

Portugal’s Golden Visa program was launched in 2012, but didn’t obtain “bestseller” status until early 2015 when the Portuguese authorities lowered investment limits for foreigners applying for the visa.

No good thing lasts forever: the authorities implemented stricter visa rules in 2023, removing real estate as an option. Fortunately, a Portugal Golden Visa (residence permit) has not lost any of its valuable benefits – including the ability to invest in other profitable assets, reduce your tax burden through the innovative Non-Habitual-Residence HR program, and potentially acquire an EU member state’s citizenship in the future.

Portugal offers a great lifestyle alongside an attractive investment environment with growing markets and generous NHR tax incentives. The Golden Visa program is just the tip of the iceberg. Let’s look in more detail into how you can participate in the golden visa program.

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Requirements for obtaining a Portugal Golden Visa

The most up-to-date rules are specified in Law 56/2023 (port.: Lei n.º 56/2023), published in the Official Gazette of Portugal (port.: Diário da República n.º 194/2023) of October 6, 2023.

• Firstly, the main investor or main applicant for a Golden visa (+ spouse and children under 26, in the case of a joint application) must have no criminal record.
• In addition, any foreigner applying for a Portugal Golden Visa (including anyone involved in a joint application) should not be subject to any restrictions on entry into the European Union (for example, refusal to issue a visa due to the previous blacklisting by the Schengen Information System).
• The sources of the investor’s wealth must be verified as legitimate before the bank will accept the funds for the Golden Visa investment.
• If you have included any adult children in a family application, they must be financially dependent on the main applicant for the Golden Visa (for example, documents confirming that they study at a university are suitable).
• Applicants for a Portugal Golden Visa must have health insurance that covers them while in Portugal.
• After receiving a Portuguese residence permit via the Golden Visa route, the main investor and other family members must reside in Portugal for at least 7 days annually (counted as 14 days during a 2-year period)
• The residence permit applicant must meet the investment criteria, and have evidence.
• To maintain a Portugal Golden Visa, the applicant must hold the acquired asset for a minimum of five years. Otherwise, the investor will forfeit their resident status and residence permit.

The requirements for Portugal Golden Visa applicants are by no means onerous. The program conditions are quite easy to fulfill:

5 investment options to obtain Portugal’s Golden Visa

There are five investment routes available to applicants for Portugal Golden Visa. It is possible to invest as an individual, an individual entrepreneur, or a sole proprietor of a limited company. Every option will require proof, but professionals can help you with this process, like ours.

1. Capital transfer (including deposit) – from 500,000 EUR

You can invest in venture capital funds. When applying for a Portugal Golden Visa by transferring capital that exceeds 1,500,000 EUR, you must prove that the investment has been made. To do this, you need to provide documentation confirming an international bank transfer for one of the following investment types:

• Deposit
• Public debt investment
• Acquisition of securities in non-documentary form
• Acquisition of securities held in individual custody
• Equity investment

2. Creation of at least 10 jobs

You can create your own company in Portugal, designate yourself the owner and manager, or hire a manager, and if you create 10 jobs, you can get the Golden Visa. The limit can be reduced by 20% to eight jobs when the created jobs are in sparsely populated and underdeveloped areas, more specifically, those with a population density of fewer than 100 people per square kilometer or with GDP per capita less than 75% of the national average. You will also need to provide proof

3. Investment in public or private research and development – from EUR 500,000

Applying for Portugal’s Golden Visa program in research and development is less lucrative, obviously, but a noble task. You must, again, prove that such an investment has been made.

As with previous options, you can reduce the required threshold by 20% (to EUR 400,000) by investing in sparsely populated and underdeveloped areas (with a population density of fewer than 100 people per square kilometer or with GDP per capita less than 75% of the national average).

4. Contribution to artistic production, art support, or national heritage reconstruction – from EUR 250,000

The Portugal residence permit applicant choosing this investment option should demonstrate investments made through local authorities, state institutions, state-owned companies, public or private foundations, commercial companies, or socio-cultural associations.

Once again, it is possible to reduce the residence permit investment limit by 20% (to EUR 200,000) by investing in sparsely populated and underdeveloped areas.

5. Business investment – from EUR 500,000 + creation of 5 jobs

To obtain a Portuguese Golden Visa by Business Investment and Job Creation, you will need to transfer capital from abroad (at least EUR 500,000) for registering a new business or investing in the authorized capital of an existing company with a registered office in Portugal. In addition, it is mandatory to create five permanent employment positions for a minimum of three years.

Documents required to obtain a Portuguese Golden Visa

When applying for the Portugal Golden Visa program, you will need to provide a basic package of documents, including:

• Passport or other valid travel document.
• The accompanying documents required for legal entry and stay in Portugal for the minimum required period to complete the administrative procedures (according to the Aliens Act).
• Documentary evidence of proper health insurance (obtained in advance within a three-month period before applying for a Portugal investment visa). There are two options:

1. A document confirming the applicant’s insurance within the Portuguese National Health Service (SNS/Serviço Nacional de Saúde).
2. A document confirming the applicant is privately insured under an internationally recognized health insurance program for the period of stay in Portugal, with automatic renewal.

• Affidavit (statement under oath), stipulating the applicant’s readiness to meet the minimum financial requirements under the chosen investment option and retain the investment for at least 5 years after obtaining a Portugal residence permit via Golden Visa.
• Up-to-date certificates issued by the Portuguese tax and social security authorities within the 45-day period preceding the residence permit application. These documents confirm that the Golden Visa applicant has no debts to the said authorities. An alternative is a certificate stating that the applicant does not appear in the databases of these authorities.
• Receipt confirming the payment of processing fees for Portugal residency by investment application.
• Police certificate from the country of origin and/or where the applicant has resided for more than one year. The document must be translated into Portuguese and issued within 90 days before the residence permit application. In addition, it must be certified by an apostille or a consular legalization procedure.

The Process of Obtaining a Portugal Golden Visa in Detail

Obtaining NIF and opening a Portuguese bank account

Any applicant for a Portugal Golden Visa will first need to obtain a tax ID number (Numero de Indentificacao Fiscal; NIF) and open a bank account in Portugal. A Portuguese tax number (NIF) is mandatory to open a bank account in Portugal. A bank account, in turn, is required to confirm the funds transfer from abroad and make investments under Portugal Golden Visa Program.

Could you use a bank account in another EEA country for this purpose? In theory, yes, of course, because the European Union has a single market in financial services. In practice, you would be making life difficult for yourself as you would be forced to explain and document this at every step. Trust us when we say it’s easier just to open a Portuguese account.

The process of obtaining NIF for the residence permit applicant is relatively simple and fast. However, if you are an individual without a permanent legal address in the EU/EEA, you will need a local representative to interact with the Portuguese tax authorities. This can be a lawyer, for example. Offshore Pro Group provides this service.

Our expert team is available to help readers who are serious about obtaining a Portugal Golden Visa with solutions for both matters.

Choosing a financial route and making investments

Initially, Portugal Golden Visa applicants mostly invested in real estate. But this is no longer possible. Instead, investments in a venture capital fund are a very popular route these days.

Another option that might attract an enterprising migrant investor is to create 10 jobs in Portugal. This route to the residence permit does not imply a fixed minimum investment amount.

A Portugal Golden Visa in culture and art projects is also a relatively affordable option from a financial point of view.

What is the best route for you to obtain your Portuguese Golden Visa? It depends on your personal circumstances and preferences, taking into consideration the factors we considered at the beginning of this article.

Applying for a residence permit and renewing your Portuguese Golden investment visa

The process of reviewing an application will take about 6-12 months, possibly more. After its completion, the applicant will need to visit Portugal in order for a personal interview at the relevant department.

Initially, the interviews were held at the place of investment under the Portugal Golden Visa Program. However, officials now allow candidates to sign up for an interview in any area of their choice. This change helped shorten the waiting period and reduce queues in the most popular areas (Lisbon, Porto, and Faro).

If you wish to apply for a residence permit together with family members, you will need to submit the applications of all family members at the same time. A nominal processing fee is required for the main applicant and family members. Once your residence permit application is approved, it is necessary to pay an approval fee for each person (it changes frequently, but we can tell you if you consult with us). After 10-20 days, you will receive a resident card and a residence permit valid for a two-year period.

In the first two years, you have to spend at least 14 days in Portugal. If you fail to do so, you won’t be able to renew your Portuguese Golden Visa residence permit and receive a new residence permit card. The renewal application should be submitted 30-90 days before the expiration date of the current residence permit card.

In the process of renewing the residence permit, you should also be prepared to resubmit biometric data (fingerprints, etc.), provide the authorities with a new certificate of no criminal record, and pay a fee for each person in the application. 

Naturalization: From Golden Visa to Portugal Citizenship and Passport

After the application is approved, a foreign investor will receive a Portuguese resident card. Maintaining this status requires living for a week in Portugal every year. This is a perfectly feasible condition, given the country’s attractions and relaxed lifestyle.

Once you have obtained a Portugal residence permit (EU residence status), the countdown begins for the possibility of applying for citizenship in this EU member state without additional investments.

This opportunity to apply for Portuguese naturalization based on your Golden Visa opens after 5 years, along with the right to permanent residence. The main criterion is to renew the residence permit in time. Other Key conditions for obtaining Portuguese citizenship through naturalization based on your Golden Visa:

• Fulfilment of the 5-year residency requirement in the host country for a week annually (35 days in total)
• Demonstration of basic Portuguese language proficiency and integration
• No convictions for crimes that carry a prison sentence of 3 years or longer according to the Portuguese laws

By obtaining Portuguese citizenship, the former Golden Visa holder will receive the rights and opportunities available to native citizens, including the following:

• Ability to travel, live, and work throughout the European Economic Area without restrictions.
• It is one of the most powerful passports in the world. Portuguese passport holders can travel visa-free to the USA, Japan, Canada, Australia, and most countries in Europe and South America.
• The right to use a prestigious EU passport to interact with your bankers in different parts of the world.

Make your life easier by applying for your Portugal Golden Visa with expert support

To speed up and simplify the process of obtaining a Portugal Golden Visa, we recommend using the assistance of a professional investment immigration company or a lawyer who is a specialist in this area.

Whilst in theory you could carry out the process yourself, in practice, you will find it very hard to do. Most Portuguese government officials do not speak English, and you still need to be on the ground to jump through many of the bureaucratic hoops. Unless you have all the time in the world to spare, it definitely makes sense to hire a professional who has carried out the process many times before, is based in Portugal, and speaks the language.

When contacting our recommended agents for assistance, we suggest that you, the Portugal Golden Visa applicant, provide the following information:

• Photo or scan of your passport photo page.
• The size of your family, including the ages of all family members applying for a residence permit. Photos or scans of the respective persons’ passport photo pages are also useful.
• Information about your marital status and property relations regime in marriage.
• Address and contact information, including country of residence and WhatsApp number or preferred means of communication.

We hope this information has been helpful to you. If you would like to find out about costs, more details on processes, etc, for your family’s Golden Visa application, please feel free to contact the Q Wealth team. We can schedule a Zoom call or conference call with a Portugal expert who will answer all your questions

Finally, we remind you that if you want to apply for a Portugal residence card without investment, via the traditional, non-Golden Visa route, there is another route to consider: the D7 Portugal visa.

Remember, we are here to support you. Arrange a consultation with us to get started! You can have a complimentary, fifteen-minute session to get your questions answered, or a one-hour, paid session with an expert to learn how we can help you and your specific needs and goals (currently priced at 300 euros, reduced from 500 temporarily).