Portugal Golden Visa: A guide for investors & entrepreneurs in 2025

The Portugal Golden Visa is one of the most popular visa programs in Europe. It gives you the right to live in Portugal, travel freely across the Schengen area, and enjoy tax benefits. You can even apply for Portuguese citizenship after five years of residency.

However, the Golden Visa involves more complex legal guidance because it ties immigration rules with investment, tax, and residency laws.

This article discusses everything you need to know about the Portugal Golden Visa program. We’ll also share the benefits it offers, who can apply, and a step-by-step guide to the application process.

What is Golden Visa in Portugal?

The Portugal Golden Visa is a residency-by-investment program that allows non-European Union, European Economic Area, or Swiss nationals to live, work, and study in Portugal.

Portugal first introduced the Golden Visa, officially known as the Residence Permit for Investment Activity (in Portuguese: Autorização de Residência para Investimento or ARI), in 2012. Since then, it has grown into one of Europe’s most popular and accessible residency programs.

Under the Golden Visa, applicants don’t need a prior residency visa to qualify. Instead, the permit only requires you to stay in Portugal for 7 days in the first year and 14 days in each subsequent year. This flexibility makes it far more convenient than a standard Portuguese residence permit.

Golden Visa vs. D7 Visa vs. D8 Visa comparison

• Apply for a D7 Visa if you don’t have €250,000+ to invest but can show reliable passive income (like pensions, rental income, or dividends) and are willing to remain in the country for the minimum required period.
• Choose the D8 Visa if you earn foreign income outside Portugal or have an online business with foreign clients and are willing to remain in the country for the minimum required period.
• The Golden Visa is best for investors and entrepreneurs who can invest €250,000–€500,000 and need a minimum stay requirement with maximum flexibility.

What are the eligibility criteria for the Portugal Golden Visa?

The following is the complete breakdown of Portugal Golden Visa requirements in 2025:

Nationality requirement

Applicants must be non-EU, non-EEA, and non-Swiss nationals. Citizens of these regions are not eligible for the Golden Visa program.

Clean Criminal Record

You must present a clean criminal record from the country of residence, legally authorized. 

For U.S. citizens, you must submit an FBI-issued criminal background check, not a state-level report. It must be apostilled at the federal level before submission.

Proof of Legal Source of Funds

All investment funds must come from a legal and verifiable source. Applicants need to provide supporting documentation to confirm the origin of their money.

Minimum investment period

Investments must be maintained for at least five years to remain eligible for the program and to apply for permanent residency or citizenship.

Minimum stay requirement

Golden Visa holders only need to spend 7 days in the first year and 14 days in each following two-year period in Portugal, making it one of the most flexible residency programs in Europe.

Family reunification eligibility

Spouses, dependent children, and dependent parents can be included in the application, allowing the entire family to benefit from residency rights in Portugal.

Qualifying investment options for Portugal Golden Visa

The Portugal Golden Visa program is only eligible for the following investment options in 2025:

Investment in Regulated Funds

Investing in Portuguese regulated funds requires a minimum of €500,000. These funds must be regulated by CMVM (Portuguese Securities Market Commission).

Key requirements:

• Must not be real estate funds.
• 60% of the fund’s capital should be allocated to Portuguese qualifying investments (e.g., bonds, companies, or startups). 
• The remaining 40% can be invested freely based on the fund’s strategy.
• Investment must be maintained for 5 years to qualify for the Golden Visa.

Types of funds:

Here are the types of regulated funds you should know:

• Capital-protected funds: Invest mainly in government bonds or fixed-income assets. Returns are modest, but capital is preserved. Best for conservative investors.
  
  
• Private equity funds: Invest in a mix of bonds, stock markets, and alternatives. Balanced approach with moderate risk and potential for better returns. Some open-ended funds allow earlier withdrawal.
  
  
• Venture capital funds: Invest in early-stage companies in tech, biotech, and innovation. Offers high return potential but with significant volatility. Suited for experienced or risk-tolerant investors.

For example, if you invest €500,000 in a CMVM (Portugal’s Securities Market Commission)-regulated fund, your money could be distributed across multiple Portuguese businesses. This may include startups, established companies, or innovation-driven industries. This way, you qualify for the Golden Visa while building a diversified portfolio that supports Portugal’s economic growth.

💡 Touchdown insight: Most investors choose the fund route to meet the Portugal Golden Visa requirements. It’s the lowest-effort option and, unlike some of the other routes, it can generate financial returns.

“We have almost guaranteed income returns, which basically are just there to get you the Golden Visa… and more stable ones that give you a decent return around 5% that are still quite safe. And if you want to risk it all, you can even go for Portuguese venture capital investments in startups,” explains Henrique, Head of Immigration at Touchdown.

Investment in scientific research

You can qualify for the Golden Visa by investing €500,000 or more in a public or private scientific research institution in Portugal. 

This funding supports key fields in Portugal, such as ocean and marine life, renewable energy, climate change mitigation, biomedicine, and health sciences. 

Your donation can be used to purchase advanced equipment, finance cost-intensive studies, or fund the research and development of innovative technologies.

For example, if you contribute €500,000 to a Portuguese renewable energy research center, your investment could fund new projects. These may include the development of solar panels or wind technology.

This allows you to secure the Golden Visa while supporting Portugal’s clean energy innovation initiatives.

Investment in arts and culture

You can invest €250,000 or more to support cultural heritage projects or artistic initiatives in Portugal that are pre-approved by GEPAC (Portugal’s cultural funding authority). 

This is the cheapest option available for the Portugal Golden Visa program. Eligible initiatives include museum expansions, heritage site restorations, cultural festivals, archaeology projects, and contemporary art programs. 

You can view all the eligible projects here. 

For example, you can invest €250,000 in one of the Serralves Foundation projects called “Juan Miró: Novas Perspetivas” in Porto. Your funding can help preserve and showcase one of Europe’s most important modern art collections. 

By doing so, you qualify for the Golden Visa while directly supporting Portugal’s cultural heritage. 

Investment in portuguese companies

Invest at least €500,000 in an established Portuguese company. This option focuses on increasing the company’s capital rather than creating a new business. 

To meet the Portugal Golden Visa requirements, your investment must either create 5 new permanent jobs or help maintain at least 10 existing jobs (with a minimum of 5 being permanent roles).

For example, if you invest €500,000 in a Portuguese tech company, your capital could be used to expand its operations and hire new staff. This investment might qualify if it results in 5 new permanent jobs or supports 10 existing positions, with at least 5 of them permanent.

Job creation

To qualify for the Golden Visa through job creation, you must meet either of the two options:

• Create at least 10 full-time jobs in Portugal (or 8 jobs in a low-density area). This requires setting up a company in Portugal that employs the workers.
  
  
• Create 5 full-time jobs and invest €500,000. You must transfer the capital to establish the company, which lowers the minimum job creation requirement.

For example, if you launch a small manufacturing unit in a low-density area of Portugal and create 8–10 jobs, this would also meet the job creation requirement.

Choosing the right pathway can determine the success of your Golden Visa application. 

Touchdown provides immigration consultation services. Our expert lawyers review your investment plans and suggest the best way forward to make sure your investment meets Golden Visa requirements. Book a free consultation today.

For more information on the Portugal Visas, see this interview:

Comparison of Qualifying Investment Options for Portugal Golden Visa (2025)

Who doesn’t qualify for the Portugal Golden Visa 2025?

Applicants who make a real estate investment in Portugal no longer qualify for the Golden Visa. 

In the past, many people applied for a Golden Visa by buying property, often a holiday home. However, this option was removed in 2023 because it didn’t bring enough value to Portugal’s economy. Now, the focus has shifted to investments that support business, research, and culture.

Applicants may also be disqualified if they fall into the following categories:

• Applicants using illegally obtained funds: All investments must come from legitimate, verifiable sources.
  
  
• People who fail to meet the minimum investment threshold: The program requires €250,000–€500,000, depending on the chosen investment route.
  
  
• Applicants who don’t maintain their investment for 5 years: Withdrawing or selling before the minimum holding period results in disqualification.

💡 Touchdown Insight: Applicants who don’t meet the Portugal Golden Visa requirements may still qualify for other residency options. For example, if you’re a passive income earner, you may qualify for the Portugal D7 visa.

Use our free Eligibility Checker to check which visa type is right for you.  

What are the tax benefits for Golden Visa holders in Portugal?

The Portuguese government offers tax flexibility to Golden Visa holders based on how long they stay. 

Here’s a complete detail on Portugal’s tax implications:

Non-tax resident status

The Golden Visa only requires you to spend 7 days in the first year and 14 days in each following 2-year period in Portugal. 

If you keep your stay this short, you won’t become a Portuguese tax resident and can legally avoid paying taxes in Portugal if that works best for your tax efficiency.

Tax resident status

To be considered a Portuguese tax resident, you must meet at least one of the following criteria:

• Spend more than 183 days per year in Portugal 
• Have a home in Portugal that you intend to use as your main residence

As a tax resident, you may be eligible for the NHR 2.0 tax program, but you must meet specific requirements:

Who can apply for nhr 2.0 under Golden Visa?

The IFICI, also known as NHR 2.0, is Portugal’s updated tax incentive program that replaced the old Non-Habitual Resident scheme. It offers reduced tax rates and exemptions for individuals working in specific high-value sectors.

You must work in an approved area such as technology, healthcare, or scientific research. Eligible professions include roles like software developers, scientists, and senior managers. 

Another route is that the Golden Visa investors can hold an executive or board position in a Portuguese company or startup that they invested in.  

Key benefits of nhr 2.0 for eligible Golden Visa holders

• 20% flat tax rate: A reduced tax rate on qualifying work income earned in Portugal
  
  
• Tax-free foreign income: Foreign-earned income, like dividends, capital gains, and rental income, is not taxed in Portugal under the NHR 2.0
  
  
• 10-year benefit duration: These benefits apply for ten consecutive years, offering long-term financial stability.

Portugal Golden Visa for crypto investors

Portugal is one of the top destinations for crypto investors seeking a Golden Visa. Although direct cryptocurrency payments aren’t accepted, several licensed funds now offer crypto-linked investments.

Portugal Golden Visa for U.S. Citizens

The Portugal Golden Visa program can be a strategic “Plan B” for Americans to secure EU residency without giving up U.S. citizenship. 

Most U.S. applicants prefer investing in private equity or venture capital funds, which remain the most popular and straightforward option. Business owners can also expand their companies to Portugal, gaining both residency and access to the EU market.

The visa program also fits well with U.S. financial planning. Minimum stay requirements are low, so you don’t need to relocate full-time. Portugal’s favorable tax treaties and NHR 2.0 regime help reduce double taxation risks.

How to apply for Golden Visa Portugal: A step-by-step guide

Here’s a step-by-step guide on how to apply for the Portugal Golden Visa in 2025 and 2026:

Step 1: Register for an NIF number

You must obtain a Número de Identificação Fiscal (NIF), which is Portugal’s tax identification number. This number is essential for all financial and legal transactions in Portugal.

You can request a NIF at any Portuguese tax office by showing your passport and proof of address. If you are a non-resident, Portuguese law generally requires you to appoint a local tax representative to act on your behalf. 

The process can be slow if you’re applying from abroad. You need to find a reliable representative and deal with paperwork and staff in the Portuguese language. The processing time can also slow down your visa process.

If you prefer not to handle this yourself, Touchdown provides NIF services through online power of attorney for you and your family members. Our legal team submits the application, deals with the paperwork, and delivers your NIF number remotely, often within one business day. 

Step 2: Open a portuguese bank account

Once you have your NIF number, you need to open a bank account to transfer the investment amount to apply for the Golden Visa.

Here’s what you need to open a Portuguese bank account:

• NIF
• Valid passport
• Residence permit
• Proof of Income
• Tax ID document from the country of origin or residence
• Signed W-9 Form (for U.S. citizens)

Touchdown partners with Novo Banco to provide Premium Accounts with a dedicated manager, full home banking, and smooth onboarding. If you’re abroad, our team handles the compliance to open a bank account for you.

Step 3: Transfer €500,000 to the Portuguese bank account

To meet Golden visa requirements, you need to transfer €500,000 investment amount to your Portuguese bank account. Once transferred, the bank issues an official document confirming the transfer, which is required for your Golden Visa application.

Step 4: Gather your documents

The following are some important documents you need to apply for the visa:

• Passport
• 2 recent passport-size photographs
• NIF (Tax Identification Number) number
• Portuguese bank account
• Proof of the qualifying investment from your bank
• Proof of means of subsistence
• Travel insurance 
• Proof of accommodation in Portugal
• Declaration under oath that the applicant will comply with the investment requirements
• IRS (Tax Authority) compliance certificate
• Criminal record certificate from the country of residence

Make sure all your documentation is legally approved. Use originals or certified copies and get them translated into Portuguese by a sworn translator. 

Step 5: Invest in qualifying investment

You need to invest in an eligible investment route qualified under CMVM (Portugal’s Securities Market Commission)–regulated fund to apply for the Golden visa. 

Touchdown helps you invest in the selected investment fund. We transfer your investment (for example, €500,000) from your Portuguese bank account to the fund.

Once the transfer is complete, the fund will issue an official statement confirming your fund participation units and the amount invested. This confirmation, along with your bank transfer proof, will be included in your Golden Visa application.

Step 6: Submit your application to AIMA

After collecting all your documents, you can apply for the Portugal Golden Visa through AIMA (the Portuguese Immigration Authority). But the application process can be lengthy and complex for foreigners.

Touchdown prepares and submits your application on your behalf, making sure every detail is correct and compliant with Portuguese law. This reduces the risk of delays or rejections due to missing paperwork or legal issues.

Once submitted, AIMA reviews your file to verify that your investment qualifies under the Golden Visa rules and that all documents are in order. 

During the biometric appointment, AIMA collects your fingerprints, photo, and signature before carrying out background checks to finalize your application. 

Step 7: Receive approval and residence card

After approval, you will receive your residence card that grants you entry into Portugal. You must stay at least 7 days in the first year and 14 days in each subsequent two-year period and maintain your qualifying investment for 5 years. 

After that, you can apply for permanent residence and/or citizenship. 

Renewals and path to citizenship for Portugal Golden Visa

Portugal's Golden Visa is renewable every two years if your investment remains valid and you meet the minimum stay requirements. After five years of maintaining the visa, you can apply for permanent residence and/ or Portuguese citizenship. 

Permanent residence allows you to live in Portugal indefinitely as a foreign national. Citizenship grants you a Portuguese passport, full EU rights, and political participation.

To apply, you need to provide:

• Proof of Portuguese language proficiency (A2 level Portuguese)
• Clean criminal records

Once you become a Portuguese citizen, you don’t need to maintain your investment. You can choose to liquidate or sell your assets if you want to. 

Family reunification under Portugal’s Golden Visa

You can apply for the Golden visa with your legal partner or spouse, dependent children, parents, or minor siblings. You need to submit the following documents for each family member:

• Marriage certificate or birth certificate (relationship to the investor)
• Passport
• Supporting documents 

How much is a Golden Visa in Portugal

Here’s a complete cost breakdown of the Portugal Golden Visa:

Application analysis fee

The fee for reception and analysis of your application (initial or renewal) is €618.60 per applicant. This is paid at the time of submission.

Residence permit fee

If your application is approved, you pay €6,179.40 for the granting of a Residence Permit for Investment (ARI). For renewals, the fee is €3,090.40.

Permanent residence fee

When applying for permanent residence, the cost is €8,463.40. Renewals of permanent residence cost €4,326.30.

Additional administrative expenses

Applicants should budget for supporting documents such as criminal record certificates, apostilles, notarized translations, and certified copies. Depending on your country, these may total €100–€300 or more.

Legal support fee

If you engage legal support for your Golden Visa application, fees may range from €10,000 to €20,000depending on the scope of services. This usually covers document review, application preparation, compliance checks, and assistance throughout the approval process.

Benefits of the Portugal Golden Visa

Here are the benefits of the Portugal Golden Visa program:

Schengen travel access

Your Golden Visa lets you travel freely across all 27 Schengen countries. No extra visas or paperwork are required. Portugal becomes your base for business trips, family holidays, or weekend getaways across Europe.

Minimal stay requirement

You don’t need to relocate full-time. To keep your visa active, you only need to spend 14 days in the first two years and 21 days in the following three years in Portugal. That’s just a few weeks over five years to secure permanent residency or citizenship.

Family benefits

The Golden Visa covers your whole family. You can include your spouse, children, and dependent parents under one application. Even children over 18 can qualify if they are unmarried and studying full-time, a benefit not available under standard residence permits.

Path to residency or citizenship

After 5 years, you can apply for permanent residence or citizenship in Portugal. 

Permanent residence allows you to live in Portugal indefinitely, but you cannot be absent for more than 24 consecutive months or 30 months within any 36-month period. 

The status itself is permanent, though you need to renew your residence card every 5 years. While citizenship grants you full rights as a Portuguese citizen.

Minimum involvement

Golden Visas require minimal client involvement. Unlike most other Portuguese immigration processes, this route can be fully managed by legal representatives, reducing the client’s workload to a minimum. This is especially appealing for those seeking a hassle-free relocation experience.

Access to healthcare and education

Golden Visa holders can register with Portugal’s national healthcare system (NHS) and get access to affordable medical care. 

Your children can enroll in schools and universities in Portugal at the same cost as locals. International schools and English-language programs are also widely available.

Business and investment opportunities

Residency in Portugal means access to the entire EU market. You can set up a company, expand your investments, or work with Portuguese startups in sectors like technology, renewable energy, and tourism.

How touchdown assists you with the Portugal Golden Visa

Touchdown is an expert relocation and immigration firm built by expats and backed by expert lawyers. We combine legal know-how with an easy-to-use platform that gives you everything you need to settle and live in Portugal.

We know every move is unique. Whether you’re relocating solo, with your partner, or with family, Touchdown creates a tailored plan around your goals.

We handle your visa application, structure your taxes, and support you after you arrive, turning a complex process into a clear and stress-free journey.

Here’s how we help you with a Portugal Golden Visa application:

• Pre-screening eligibility check: We do an eligibility check during the initial call to make sure you qualify for this visa type.
  
  
• Investment due diligence: We conduct comprehensive checks to make sure the investment complies with all legal requirements and offers financial security.
  
  
• Obtaining NIFs and opening a bank account: We handle the NIF registration process for you and your family members. We also help you open a bank account through our partnership with Novo Banco.
  
  
• Smooth money transfers: We guide you through secure, compliant fund transfers while minimizing fees and ensuring cost-effective cross-border transactions.
  
  
• Legal review: Our lawyers review and validate your documents, including translations and apostilles. This ensures they meet Portuguese immigration standards and helps prevent delays.
  
  
• Facilitating communication with the investment fund: We act as your primary point of contact with the investment fund and ensure smooth communication throughout the process.
• Investment completion support: We help you confirm receipt of your funds and secure official proof of investment for submission to the Portuguese authorities.
• Prepare and submit the application: We manage the entire Golden Visa application process, including compiling documents, completing government forms, and submitting the application to the Portuguese immigration authorities.
  
  
• Dedicated immigration lawyer: A lawyer is assigned to you for the entire process. They guide you through requirements for residency or citizenship, help with consulate appointments, and track your application.
  
  
• Tax planning: We help you plan your taxes in Portugal. Our experts check if you qualify for programs like NHR 2.0 (IFICI) and make sure you remain compliant.
  
  
• Company setup: If you want to start a business, we assist with company registration. You’ll work with a dedicated business lawyer who helps select the right structure and ensures compliance.
  
  
• Post-Arrival Support: After you land, we offer local bureaucracy assistance to navigate through Portugal’s healthcare, insurance, and other administrative tasks. Our experts also assist with your relocation logistics for a smooth transition to Portugal.

Your Golden ticket to Portugal starts with us

Whether you're aiming for EU citizenship or permanent residency, the Portugal Golden Visa offers a secure and structured path forward. It gives you multiple investment options to match different profiles and risk appetites.

But you need expert guidance to choose the right investment option. Touchdown offers legal expertise, an easy-to-use platform, immigration guidance, and a personalized application process to secure the Golden Visa.

Book a 1:1 free consultation with our team today!

Portugal Golden Visa FAQs

How much money is required for Portugal Golden Visa?

The Portugal Golden Visa requires an investment between €250,000 and €500,000, depending on the route you choose. The lowest option is €250,000 for cultural or heritage projects, while €500,000 investment applies to scientific research, regulated investment funds, or business setup. Real estate is no longer eligible.

How does Portugal Golden Visa work?

The Portugal Golden Visa works by linking residency to investment. Applicants choose an eligible investment route (such as funds, research, culture, or job creation) and, once approved, receive a renewable residence permit. 

The visa allows free Schengen travel, minimal stay requirements, and a pathway to citizenship after five years.

Does Portugal still have the Golden Visa?

Yes, Portugal still offers the Golden Visa. However, real estate investment is no longer an eligible option. You can now qualify through investment funds, scientific research, cultural projects, or job creation.

How hard is it for a US citizen to move to Portugal?

It’s not hard for U.S. citizens to move to Portugal. If you qualify for the investment routes, you can apply for the Golden Visa. You can also consider the D7 or D8 visas, depending on your income or work. You can schedule a 1:1 free consultation with our team to learn more. 

Who qualifies for the Golden Visa in Portugal?

Non-EU, non-EEA, and non-Swiss nationals qualify for Portugal’s Golden Visa. But they must make an eligible investment (usually €500,000+) in areas such as regulated funds, scientific research, cultural projects, Portuguese companies, or job creation. Applicants must also have a clean criminal record, prove the legal source of their funds, and maintain the investment for at least five years.

Is the Portugal Golden Visa worth it?

Yes, the Golden Visa is valuable for investors seeking EU residency with minimal stay requirements. It provides access to the Schengen area, family reunification, and a path to permanent residence or citizenship after 5 years.

Will my Golden Visa be affected if the fund or company I invested in goes bankrupt during the 5-year period?

It depends on the situation. If a regulated fund goes bankrupt, you still technically hold the participation units, even if they lose value, so this usually does not affect your Golden Visa status. In cases of liquidation, authorities review matters case by case and may require additional checks. That’s why you need to conduct proper due diligence on the fund or company before investing.

Can U.K. nationals apply for the Portuguese Golden Visa?

Yes, U.K. nationals can apply since Brexit made them non-EU citizens. They must meet the same investment requirements as other third-country applicants.

Touchdown assists you with applying for a Golden Visa through expert guidance. We handle the entire application process with legal reviews and personalized strategy, so you can relocate to Portugal with confidence.