Article Overview
Portugal's Golden Visa remains one of Europe's best-known residence-by-investment programmes, but it changed significantly in October 2023, when property purchases and real estate funds stopped qualifying. Today the programme focuses on investments that support the Portuguese economy, research and culture. This guide explains the routes that remain.
Routes that still qualify
1. Investment funds
The most popular route is an investment of at least €500,000 in qualifying Portuguese investment funds. Funds must be regulated, have a maturity that fits the programme and must not invest directly or indirectly in real estate. Choosing the fund carefully, with independent advice, is essential.
2. Company investment and job creation
Investors can put at least €500,000 into the capital of a new or existing Portuguese company and create at least five permanent jobs, maintained for at least three years. Separately, creating at least ten jobs in Portugal can qualify on its own.
3. Research activities
A contribution of at least €500,000 to research activities carried out by public or private scientific research institutions in the national scientific system qualifies.
4. Arts and cultural heritage
A donation of at least €250,000 to support artistic production or the recovery and maintenance of national cultural heritage can qualify, in projects approved by the relevant authorities. Lower amounts may apply in low-density areas.
How long must you keep the investment?
Investments generally must be held for at least five years, which covers the initial permit and renewals. Fund investments usually stay locked in according to the fund's terms.
Minimum stay
The Golden Visa has low stay requirements, usually an average of at least seven days per year in Portugal. This makes it attractive for families who want residence rights without moving immediately.
Path to citizenship
Golden Visa holders can apply for permanent residence or citizenship after the required period, subject to the general rules, including language requirements. Portugal's nationality law was changed in 2026 and the residence period for citizenship has been extended for many applicants. Check how the current rules and any transitional provisions apply to your case before relying on a specific timeline.
Family members
The main investor can include a spouse or partner, dependent children and, in some cases, dependent parents. Each family member receives their own residence permit.
Application steps
- Choose a qualifying route and investment.
- Get a Portuguese tax number (NIF) and open a Portuguese bank account.
- Make the investment and obtain the required certificates.
- Submit the application to AIMA, the immigration agency, with documents including criminal record certificates and proof of the investment.
- Attend the biometrics appointment in Portugal.
- Receive your residence permit and renew it within the required periods.
Things to check before investing
- The fund's strategy, fees, risk level and exit terms.
- That the fund is eligible under the current Golden Visa rules.
- Processing times at AIMA, which can be long.
- Tax implications in Portugal and your country of residence.
How ZANS Consultants can help
We explain the routes, coordinate with Portuguese legal and financial partners and prepare your residence application. Learn more about our Portugal Golden Visa service, compare it with the D7 and D8 visas, or book a consultation.
General information only: Golden Visa routes, amounts and nationality rules change. Check the current requirements with AIMA and independent legal and financial advisers before investing. The Portuguese authorities make the final decision on every application.
