The combination of limited physical presence requirements and a path to EU citizenship after five years of residency, as well as the wide selection of investment types, make Portugal Golden Visa one of Europe’s most popular residence by investment policies.
Since the start in late 2012, more than 10,000 applicants have successfully invested more than EUR 6 billion through the program, mostly in real estate but increasingly also in investment funds focusing on a variety of sectors.
| Program Type | Golden Visa Program |
| Time to citizenship | 5-6 years |
| Time to permanent residency | 5 years |
| Minimum investment | EUR 250,000 |
| Physical presence requirement | 35 days over five years (see details below) |
| Application processing time | 4-15 months |
| Citizenship grants visa-free travel to | 187 destinations, including Schengen countries |
| Contribution types available | Property Investment, Bank Deposit, Business Investment, Public Shares Investment, Fund Investment, Job Creation |
General program requirements
From 1 January 2022, investment options for the Portugal Golden Visa include:
Capital transfer
€1.5 million in a Portuguese bank account or specifically approved investment options.
€500,000 for research activities of public or private entities that are part of the national scientific and technological system.
€500,000 for the acquisition of units of investment funds or venture capital funds of companies incorporated under the Portuguese law.
€250,000 in support of artistic production or in the recovery or maintenance of national cultural heritage.
Property acquisition
€500,000(or €400,000*) investment in real estate.
€350,000 (or €280,000*) investment in real estate for the purpose of refurbishing properties older than 30 years or in an area of urban regeneration, including the cost of renovations.
Business investment
Creation of at least 10 new jobs*
€500,000 for the incorporation or increase of the share capital of a company that is registered in Portugal, creating or maintaining a minimum of five permanent jobs for a period of three years.
*The threshold is reduced by 20% should the funds be committed to a low population density area, defined as less than 100 inhabitants per km² or with a GDP per capita below 75% of the national average.
Program benefits
Requirements to qualify for citizenship
After the completion of the fifth year of residency an investor may apply for permanent residency. After the investor receives permanent residency, he can immediately apply for citizenship. To obtain citizenship, the applicant must pass a language test. All investments need to be maintained until receiving permanent residence.
Legislation upon which this program is based:
ARTICLE 90-A, PARAGRAPH 2 OF THE ALIENS ACT, IN CONJUNCTION WITH ARTICLE 63, PARAGRAPHS 1 AND 3 AND 65-E OF THE REGULATORY DECREE N.84/07 OF 05/11
See more statistics on this and other programs in the IMI Data Center.
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Charles Taylor Harris predicts the effects of the new golden visa rules: Interior areas and commercial property can expect a boost, the fund option will show resilience, and rich-world interest in the program will continue to rise.
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Abramovich recently picked up another citizenship by descent, this time in Portugal. Millions more should do the same, says David Lesperance.
2022 no doubt holds a long list of surprises in store for the investment migration market. Here are seven changes we already know are coming.
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Programs that offer citizenship within months in exchange for investments or donations, with minor/no physical presence requirements.
Programs that offer citizenship in exchange for investments following a 1-2 year period, with minor/no physical presence requirements.
Programs that offer residence permits within months in exchange for passive investments, with limited physical presence requirements.
Andorra Residence Without Lucrative Activity
Australia BIIP Investor Streams
Bahamas Economic Permanent Residence
Cayman Islands Investor Visa
Costa Rica Investor Visa
Curaçao Investor Permit Program
Cyprus Golden Visa
Greece Golden Visa
Guernsey Investor & Entrepreneur Residency
Ireland Immigrant Investor Program
Italy Investor Visa
Latvia Investor Visa
Luxembourg Investor Visa
Malaysia M2H Visa
Malta Permanent Residence Program
Mauritius Permanent Residency Program
Monaco Carte de Séjour
Netherlands Investor Visa
New Zealand Investor Visa
Nicaragua Investor Permanent Residency Program
Panama Qualified Investor Visa
Philippines Special Investor Residence Permit
Portugal Golden Visa
South Korea Investor Visa
Spain Golden Visa
Thailand Elite Residence Program
UK Investor Visa
United States EB-5
Programs that offer residence permits within months to those who can demonstrate income or personal wealth above a certain level, usually requiring that the holder not take up employment locally.
Argentina Rentista and Pensionado Residency
Greece FIP Visa
Indonesia Retirement Visa (KITAS)
Italy Elective Residency Visa
Jersey High Value Residency
Mexico Legal Residency Visa
Nicaragua Pensionado and Rentista Visas
Panama Rentista Retirado Visa
Paraguay Permanent Residency Program
Portugal D7 Visa
Spain Non-Lucrative Visa
Uruguay Independent Means Visa
Programs that offer residence permits within months to those who physically relocate to start and/or run a business. Startup and entrepreneur visas fall under this category.
