Portugal Golden Visa Program 2025: Complete Guide

Explore Portugal Golden Visa Program in 2025 – the latest rules, investment options, and benefits (Schengen access, family inclusion, path to citizenship). Learn who qualifies, timelines, costs, FAQs, and how it compares globally (for investors from UAE, India, US, UK, Asia).

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Lisbon’s terracotta rooftops and historic architecture

Only 7 Days/Year Required

You only need to spend 7 days in Portugal in the first year, and 14 days every 2 years after that to maintain your residency. Perfect for busy global citizens.

Path to EU Citizenship in Just 5 Years

Golden Visa holders can apply for Portuguese citizenship after just 5 years—without needing full-time residency. Portugal also allows dual citizenship.

Family Members Included

Your spouse, children, and dependent parents can all be included in one application—giving your whole family access to EU residency and eventual citizenship.

Real Estate No Longer Required

Since 2023, you no longer need to buy property. Investors now qualify through fund investments, job creation, or donations starting from €250,000.

Visa-Free Travel Across Schengen Zone

Live in Portugal and travel freely across 26 EU/Schengen countries without additional visas—ideal for business, education, or leisure.

Globally Trusted & Still Open in 2025

Despite changes, the Portugal Golden Visa remains fully active in 2025 and is trusted by investors from India, UAE, US, UK, China, and beyond.

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The Portugal Golden Visa is a five-year residency-by-investment program for non-EU/EEA/Swiss nationals that offers EU residency (and eventual citizenship) in return for an approved investment. Launched in 2012 to attract foreign capital, it remains open in 2025 despite rumors of closure.

Golden Visa holders (and their families) can live, work, and study in Portugal with minimal physical presence required, enjoy visa-free Schengen travel, and after 5 years become eligible to apply for Portuguese citizenship. Portugal’s safe environment, mild climate, and relatively low cost of living also make it an attractive destination for global investors.

How the Portugal Golden Visa Works?

Portugal’s Golden Visa (officially the “Residence Permit for Investment Activity (ARI)”) grants a residency permit in exchange for a qualifying investment . It is open to foreign investors (age ≥18) from anywhere in the world (outside the EU/EEA/Switzerland). Successful applicants receive an initial 1-year residence card, renewable thereafter if they maintain the investment and meet minimal stay requirements .

After five years of continuous residence (and language/citizenship requirements), holders may apply for permanent residency or full Portuguese citizenship . Importantly, Portugal allows dual citizenship, so you can keep your original nationality.

Key highlights of the program include:

Family Reunification:

Spouse, dependent children (under 18 or financially dependent), and dependent parents can be included in the application

Short Residency Requirement:

Just 7 days in Portugal in the first year, and 14 days every subsequent 2-year period. (Previously longer, the requirement was shortened in 2023.)

Visa-Free Travel:

Golden Visa holders travel freely across the Schengen area without extra visas.

Path to EU Citizenship:

After 5 years, you can apply for Portuguese citizenship and a passport, with A2-level Portuguese language proof.

High Quality of Life:

Portugal offers a stable, peaceful environment, universal healthcare, excellent education, and a 22% lower cost of living than the UAE.

In essence, the Portugal Golden Visa offers investors a strategic gateway into Europe—combining flexibility with powerful benefits. It allows you and your family to live, work, and study in Portugal, all while enjoying visa-free travel across the Schengen Zone. Remarkably, after just five years, you can apply for Portuguese citizenship—without the requirement of full-time residency.

2025 Updates: What’s New

Portugal restructured the Golden Visa in late 2023, and these changes carry into 2025. The biggest update is that real estate investment is no longer a qualifying route. The program now focuses on capital and donation-based options. Key 2025 rules include:

Real Estate Ban:

Since October 2023, buying property (even low-density rehabilitation projects) no longer qualifies. Funds linked to real estate are also excluded. This change was part of a shift to discourage speculative real estate inflows.

Eligible Routes:

The qualifying investments now include investment funds, job creation, and donations to research or culture. For example, funds dedicated to tech or startups (not property) have become the most popular option.

Investment Minimums:

The minimum investment ranges from €250,000 to €500,000 depending on the route (see below).

Renewal Extension:

Due to application backlogs, temporary measures have been introduced (e.g. some residence cards now valid 3 years instead of 2), but the standard renewal cycle remains as above.

Despite recent changes, the Portugal Golden Visa program is here to stay. The government has confirmed there are no plans to discontinue it. Instead, the program is evolving to focus on new forms of investment. Real estate purchases and related funds are no longer eligible, while options such as investment in qualified funds, cultural contributions, and job creation now take center stage. For applicants, this shift signals a need to pivot toward fund-based or philanthropic investment routes when applying in 2025.

Portugal Golden Visa Requirements 2025: Who Is Eligible to Apply?

To qualify for a Portugal Golden Visa in 2025, you must generally meet these criteria:

Citizenship:

Any non-EU/EEA/Swiss national (over 18). Applicants from the UAE, India, US, UK, China, Brazil, South Africa, and virtually any country are welcome.

Clean Record:

A clean criminal history (no serious convictions) in your home country and Portugal is required.

Sustainable Funds:

You must show the investment capital comes from legal sources and will be maintained for at least 5 years.

Stay Requirement:

Commit to spend the minimum days in Portugal (7 days in Year 1; 14 days in each 2-year renewal period)

Healthcare Insurance:

Maintain valid health insurance in Portugal for yourself and included family.

Miscellaneous:

Obtain a Portuguese tax ID (NIF) and open a local bank account. All documents not in Portuguese must be translated and apostilled.

There are no restrictions on your profession or background beyond the above. Students, retirees, entrepreneurs, or corporate executives can all apply if they have the funds. Importantly, Portuguese law also recognizes unmarried or LGBTQ partners for family inclusion.

Inclusion of family is a major benefit: for example, "the main applicant can include their spouse, dependent children, and dependent parents in the application". This means you can secure residency (and later citizenship) not just for yourself, but for your immediate family as well.

Portugal Golden Visa Investment Options (2025)

Explore the updated Portugal Golden Visa investment options for 2025. Real estate is no longer eligible—learn about fund investments, cultural donations, and job creation routes that qualify for residency.

Investment Funds:

€500,000 in eligible Portuguese venture capital or private equity funds (excluding real estate exposure). Many funds now focus on startups or local businesses. Funds must be CMVM-licensed and invest ≥60% in Portugal.

Capital to Business:

€500,000 invested in a Portuguese commercial company, creating at least 5 permanent jobs.

Job Creation:

Create at least 10 new jobs in Portugal (stable employment for 3 years). The jobs can be in any industry (some incentives for low-density areas).

Research & Development:

€500,000 donation to scientific or technological research in Portuguese public or private institutions.

Cultural Donation:

€250,000 donation or investment in arts, heritage, or cultural production (such as cinema, theater, visual arts).

Each investment route under the Golden Visa program comes with specific requirements and documentation. For instance, investment funds must have a minimum term of five years and be primarily allocated to Portuguese assets.

In 2025, the vast majority of applicants are choosing private equity funds (PEFs), which now account for nearly all Golden Visa applications—particularly among investors from the U.S. and Asia. These funds offer a professionally managed, diversified approach with added benefits such as independent audits and potential tax advantages for non-residents.

Regardless of the route you choose, the investment must be maintained for at least five years. After this period, once you're eligible to apply for Portuguese citizenship or permanent residency, you may exit the investment without impacting your status.

Benefits of the Portugal Golden Visa

Discover the key benefits of the Portugal Golden Visa in 2025—visa-free Schengen travel, family residency, path to citizenship, tax perks, and flexible living without full-time stay requirements.

EU Residency & Schengen Travel:

You and your family can live, work, and study anywhere in Portugal, and travel freely throughout the EU Schengen zone.

Path to Citizenship:

After 5 years of maintaining the visa requirements, holders can apply for Portuguese citizenship (and an EU passport). Portugal allows dual citizenship, so you don’t have to give up your original nationality.

Minimal Stay Requirements:

Only about 7 days in the first year and 14 days every 2 years are required. This is ideal for investors who want European residency without relocating full-time.

Family Included:

Your spouse or partner, minor children, and dependent parents can join your visa. They enjoy the same rights in Portugal, including eventually citizenship.

Quality of Life:

Portugal is one of the world’s safest countries, with a pleasant climate and high living standards. It offers universal healthcare, strong public schools (with English-language options), and diverse landscapes (beaches, cities, countryside). Compared to Dubai, for instance, Portugal has cooler summers, a lower cost of living (about 22% cheaper) and year-round four seasons.

Tax Incentives:

New residents can often benefit from Portugal’s Non-Habitual Resident (NHR) regime, which may exempt or reduce taxes on certain income for 10 years. The Golden Visa itself does not impose new taxes; ordinary residents only pay tax on Portuguese-sourced income (unless over 183 days in country).

EU Access:

Holders have access to Portugal’s modern infrastructure, EU banking, education and business opportunities. Portugal also ranks high on quality-of-life indices (HDI ranking, safety, infrastructure).

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Application Process and Timeline

The Golden Visa application process is well-established, taking roughly 4–8 months from initial submission (times vary due to government backlog). Key steps and timeline:

Preparation (Few Weeks):

Choose your investment route (e.g. fund or donation) and prepare documents: valid passport, proof of funds, clean criminal record, health insurance, and any investment paperwork. Open a Portuguese bank account and obtain an NIF (tax ID).

Make the Investment:

Transfer funds and finalize your investment (e.g. subscribe to the fund, sign donation agreement).

Submit Application:

File your online Golden Visa application through the Portuguese Immigration Service (SEF/AIMA) portal. Pay the initial government fees (~€6,045 per applicant).

Biometrics Appointment:

After submitting, you’ll be called (usually within weeks) to give fingerprints and documents at a Portuguese consulate or in Portugal.

Residence Card Issued (Year 1):

Upon approval, you receive a 1-year Golden Visa card. You must spend at least 7 days in Portugal before it expires.

First Renewal (End of Year 1):

Renew 30–90 days before expiry by re-submitting updated docs (criminal records, etc.) and paying ~€3,023 per person. A new 2-year card is issued.

Subsequent Renewal (End of Year 3):

Before the 2-year card expires, renew again (similar process). You will receive another 2-year card, for Years 4–5.

From years 2 through 5 of your Portugal Golden Visa journey, you must spend at least 14 days in Portugal during each two-year residence permit period. These days can be spread out in any way across the two years. The five-year residency timeline also includes the initial waiting period before receiving your first residence card.

By the fifth year, you’ll have three options:

Apply for Portuguese citizenship

Apply for permanent residency

Or continue renewing your Golden Visa

Importantly, if you pursue citizenship or permanent residency, you're allowed to sell your qualifying investment after year five without jeopardizing your status.

To qualify for Portuguese citizenship, you’ll need to pass an A2-level Portuguese language test. However, spouses and dependent children typically face more flexible requirements.

Processing times can vary, often influenced by administrative backlogs or external factors such as post-pandemic delays. As of 2025, official processing for Golden Visa applications may take 12 to 15 months, although many applicants report faster timelines. Working with experienced immigration Company Like MetConnect LDA can significantly improve both the speed and accuracy of your application process.

Government Fees and Costs

In addition to your investment, expect government fees and legal costs. As of 2025, official fees per person are roughly.

Initial Application (once): ~€6,045

Renewal Fee (every renewal): ~€3,023

Processing Fee (biometrics): €605 (per appointment)

These fees are reduced 25% if paid online. Legal/advisory fees vary by firm (often 1–3% of investment or a flat service fee). Factor in accounting, translations, and travel for biometrics.

Residency & Citizenship Path

Once you have your Golden Visa, keeping it is straightforward: maintain the investment and meet the short stay rules. After 5 years you can transition to:

Permanent Residence:

Obtained automatically once you’ve held the temporary permits for 5 years (with the 35-day stay rule satisfied). Permanent residency grants long-term rights but is functionally similar to citizenship.

Citizenship:

Apply for naturalization (Portuguese passport) if you’ve met the residency conditions. Requirements include basic Portuguese language (A2 level) , no serious crimes, and intent to integrate. Once granted, you have full EU citizenship rights.

Notably, you do NOT need to renounce your investment once you apply for citizenship or permanent residence. However, you will need to submit the language certificate and possibly some proof of integration. Portuguese allows dual nationality, so you can remain Indian, American, etc.

Portugal Golden Visa vs Other Programs

Compared to similar residency-by-investment options, Portugal’s Golden Visa is highly competitive:

Spain Golden Visa:

Both start with a 5-year residency, but Spain requires 10 years to get citizenship. Spain also has a higher stay requirement (6 months/year vs Portugal’s 7 days/year). Spain’s minimum investment is €500k (real estate) , while Portugal now focuses on €500k funds or €250k donations. Portugal often edges out Spain on flexibility and speed to citizenship

Greece Golden Visa:

Greece offers residency via a €250k property purchase with no stay requirement. However, Greece does not offer a fast track to citizenship – one must naturalize through the normal process (~7 years). Portugal, in contrast, grants a direct citizenship pathway in 5 years.

Greece offeMalta/North Macedonia/Cyprus:

Some countries offer citizenship directly for large donations (e.g. Malta, North Macedonia, Turkey), but these typically require much larger investments (often €1M+) and have longer processing. Portugal’s requirement is relatively modest (≥€250k) with guaranteed EU citizenship in 5 years.

UAE Dubai Golden Visa:

The UAE offers long-term residency visas (5–10 years) for investors, but no path to citizenship. UAE residents cannot become UAE citizens through investment. Portugal offers what UAE does not: permanent residency and citizenship in a stable country. For example, an expat from India or the Philippines in Dubai can obtain Portuguese permanent status or citizenship within 5–6 years – something impossible under UAE law.

US EB-5 Visa:

The U.S. EB-5 green card requires 5 years of conditional residence (with continuous stay) and a $800k–$1.05M investment. Portugal’s route requires much less money (and no physical stay), yet yields a passport in 5 years instead of permanent residence.

UK/Canada/Australia:

These countries have entrepreneur or investor visas but generally have stricter residency requirements or no guaranteed citizenship after a fixed term. Portugal’s advantage is the minimal stay and quick citizenship.

In summary, Portugal’s Golden Visa strikes an appealing balance: low minimum investment, minimal time in country, family inclusion, and a clear path to EU citizenship. These features often make it preferable for global HNW investors over other programs.

Global Appeal (UAE, India, US, UK, Asia)

Portugal’s Golden Visa has become truly global. Applicants hail from Asia, MENA, Europe, and the Americas. Statistics show the wide appeal: as of 2020 Chinese nationals led with ~4,764 visas, but investors from India, Brazil, Turkey, South Africa, and beyond are also significant. In fact, interest from India has surged – one report notes a 70% increase in Indian Golden Visa approvals from 2019 to 2022. By 2025, the pool of Golden Visa holders includes many from Asia, North America, the Middle East, and Western Europe.

Investors in UAE/Dubai:

For many in the Middle East (expats and nationals alike), Portugal offers stability and rights they can’t get at home. Dubai residents often cite Portugal’s lower living costs (about 22% cheaper than UAE) and four-season climate. Importantly, while UAE’s Golden Visa grants long-term stay, only Portugal provides EU citizenship in 5 years. Major companies in Dubai even facilitate Portugal Golden Visa info sessions, reflecting the program’s popularity there.

Indian Investors:

Indians see the Golden Visa as a way to hedge geo-economic risks. With no Indian government golden visa, wealthy Indians look abroad. Portugal appeals with English-friendly services and ease of travel. The strong family aspect (schooling in English, safety) is also a factor. Recent data shows Indians are the fastest-growing applicant group.

US & Canadian Investors:

North Americans value Portugal’s Golden Visa for relocation flexibility. High U.S. taxes or political uncertainty encourage a “Plan B” in Europe. The short-stay rule (7 days/year) means they can keep U.S. ties while securing an EU passport. As Wise notes, Americans can “split time between Europe and the US” easily. Portugal’s healthcare and lifestyle are major draws for retirees and entrepreneurs alike.

UK & EU-adjacent:

Post-Brexit Brits have flocked to Portugal (language is easy, country was already popular for holidays). The Golden Visa offers Britons a straightforward EU residency/citizenship option with minimal fuss. EU neighbors (like South Africans, Latin Americans, Russians) also consider Portugal’s visa.

Other Asian Countries:

In addition to China and India, investors from Singapore, Malaysia, Hong Kong, etc., have shown interest. Portugal’s political stability and openness to foreign investment are reassuring.

In all, any global investor with ≥€250k ready to invest can apply. The program’s international orientation means that materials and legal support are widely available in English, Arabic, Hindi, Mandarin, etc. Multilingual law firms and consultants in Dubai, Mumbai, New York, and elsewhere cater specifically to Golden Visa clients.

Is the Portugal Golden Visa Suspended?

No — the Portugal Golden Visa program is not suspended. However, it was restructured in 2023, which has led to confusion and misleading headlines.

What actually happened:

In October 2023, Portugal removed real estate as a qualifying investment option.

The program itself remains active in 2025 with updated rules and new investment options.

Here’s what changed — not ended:

Property investment no longer qualifies.

Investment funds, cultural donations, job creation, and R&D donations still qualify.

As of 2025, Portugal’s Golden Visa continues to accept new applications through these updated investment routes. The path to residency and citizenship remains intact, and thousands of investors are still applying successfully.

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FAQ: Common Questions

No. Portugal has no plan to scrap the program. Real estate investments were discontinued in 2023, but the Golden Visa remains active with other investment routes

No. Since October 2023, buying property no longer qualifies. If you already own property, you may use other routes (e.g. funds or donations).

The cheapest route is a €250,000 donation to arts/culture projects. Otherwise, most options start at €500,000 (funds, research, business).

Only 7 days in the first year, and 14 days in each subsequent 2-year period. These can be taken in any blocks (e.g. two 7-day trips).

Yes. Your spouse or partner, all unmarried children (≤18 or dependent students), and dependent parents can be included. They get their own residence cards and travel rights.

After 5 years of holding the Golden Visa (meeting all requirements) and passing a basic Portuguese language test (A2). The A2 test covers everyday Portuguese; alternative language courses are available.

Besides the investment sum, government fees are ~€6,045 per person for the initial visa and ~€3,022 per renewal. You’ll also pay legal and advisory fees (often 1–2% of the investment) and small fees for translating documents, etc.

The Golden Visa is specifically investment-based. Other visas (like the D7 passive income visa or D8 digital nomad visa) have different criteria (e.g. proof of income or business). If you want residency via investment with the fastest route to citizenship, the Golden Visa is typically the most direct option.