What types of investments are eligible for the Golden Visa?

• Fund subscriptions

A minimum subscription of 500,000 euros in an eligible Portuguese fund (soon for funds related to the property sector).

• Company

Creation of a minimum of 10 new full-time jobs in a Portuguese company owned by the main applicant.

Creation of a minimum of eight new full-time jobs in a Portuguese company incorporated in a low-density area in Portugal, owned by the main applicant.

Investing a minimum of 500,000 euros in an existing Portuguese company, with the company created having to create a minimum of five new full-time jobs for at least three years.

• Donation

Invest a minimum of 250,000 euros in the preservation of national heritage in Portugal.

Invest a minimum of 500,000 euros in a research and development activity in Portugal.

 

 

Requirements: What are the requirements of the Golden Visa Portugal?

 

Minimum residence requirement

The Golden Visa Portugal programme has a low residency requirement.  Portugal requires Golden Visa residents to spend a minimum of seven days a year, on average, in the country.

 

Important note: As of April 2020, initial residence permits are now valid for two years (they used to be one year) and subsequent permits are now valid for two years each. This was due to a legislative change in Portuguese immigration law.  If the change is permanent, it is expected that the initial card valid for two years will require the holder to spend at least fourteen days of that two-year period physically in Portugal. Renewal cards will then also be valid for two years each and applicants will have to spend at least fourteen days physically in Portugal during the two-year period.
Making and maintaining a qualifying investment for five years

 

You must provide proof that you have individually invested the minimum amount required. As the main applicant, you must maintain the investment for as long as you and your dependants have Golden Visa resident status.
If and when you become a permanent resident or Portuguese citizen, the investment no longer needs to be held.

 

You can then liquidate any investment you have made.

 

 

Does Portugal's Golden Visa expire in 2023? Not exactly...

 

On 16 February 2023, the Portuguese government announced measures to solve the country's housing problem, including changes to the Golden Visa programme. Details are emerging about the nature of these changes.

 

On 19 July 2023, the Portuguese Parliament approved the final version of the "Mais Habitação" bill, which has a significant impact on the Golden Visa programme. It is now awaiting approval from the President of the Republic to be passed into law.

 

Subsequently, on 21 August 2023, the President of the Republic vetoed the package, sending it back to Parliament. Parliament is likely to approve the same bill when it reopens.

 

 

It's important to note that

 

Will the programme continue? The Golden Visa programme will remain active with certain investment options. However, it will no longer be possible to apply for a Golden Visa through a property investment or an investment in property-related funds.

 

What will happen to existing Golden Visa holders? Existing rights, including renewals, family reunification and applications for permanent residence, are not affected by the new changes.

 

When will it come into force? The law has not yet been passed. It is awaiting the President's approval.

Pending applications and future renewals will be converted to the D2 Entrepreneur's Permit without the usual 183-day residency requirement. Instead, a special regime of 7 days per year will apply.
New applications for residence permits related to investments, support for artistic production or the recovery and maintenance of the country's cultural heritage will continue to be accepted.

 

We don't know how many days it will take to make your decision. However, as this is a complex bill, it is possible that the President will use this period to make a decision.
If the President approves, these changes will come into force the day after they are officially published, without any grace period.

 

 

Changes in investment paths

 

The change means that several investment opportunities will no longer be available:

• Capital transfers of €1,500,000 or more.
• Acquisition of property
• Investment in funds with direct or indirect property investments.

 

Other investment opportunities

 

In contrast, the residency program will still be operational through other investment alternatives:

• Capital transfers equal to or exceeding €500,000 in qualifying venture capital funds (with no real estate investments)
• Creation of at least 10 jobs
• Capital transfer equal to or more than €500,000 in research activities conducted by public or private scientific research institutions.
• Capital transfers of €250,000 or more in supporting artistic production, recovery, or maintenance of national cultural heritage
• Capital transfers of €500,000 or more for forming a commercial company based in the national territory with the creation of five permanent jobs

 

The amendment provides a more reasonable and coordinated approach to the Golden Visa program, leading to diversified investment alternatives while preserving its appeal.
Investors wishing to proceed with the real estate method should continue with the paperwork and time-consuming steps (getting a NIF and opening a bank account in Portugal), in order to save time.

 

JPFC will actively participate in the discussion of the changes, and we will closely monitor the situation, keeping clients and partners aware of any developments. 

 

 

Documents Required

• Copy of your passport or any other official travel document
• Proof of investment
• Portuguese Fiscal number (NIF)
• Clean criminal record from your home country
• Tax identification from your home country
• Portuguese criminal record report
• Health Insurance that is valid in Portugal (if you plan to live in Portugal)
• Declaration from the investor confirming compliance with the investment requirements
• Declaration from Social Security proving the absence of debts to Security Authorities

 

Legalize Your Required Documents; All the above-mentioned documents that have been issued by foreign authorities, need to be legalized before being submitted in Portugal. The legalization must include an apostille if the subject country is a member of the Hague Convention.

 

Translate Your Required Documents; All documents need to be translated to Portuguese (if not already in Portuguese) and submitted with the visa applicants. These translated documents must also be certified.

What types of investments are eligible for the Golden Visa?

• Fund subscriptions

A minimum subscription of 500,000 euros in an eligible Portuguese fund (soon for funds related to the property sector).

• Company

Creation of a minimum of 10 new full-time jobs in a Portuguese company owned by the main applicant.

Creation of a minimum of eight new full-time jobs in a Portuguese company incorporated in a low-density area in Portugal, owned by the main applicant.

Investing a minimum of 500,000 euros in an existing Portuguese company, with the company created having to create a minimum of five new full-time jobs for at least three years.

• Donation

Invest a minimum of 250,000 euros in the preservation of national heritage in Portugal.

Invest a minimum of 500,000 euros in a research and development activity in Portugal.

 

 

Requirements: What are the requirements of the Golden Visa Portugal?

 

Minimum residence requirement

The Golden Visa Portugal programme has a low residency requirement.  Portugal requires Golden Visa residents to spend a minimum of seven days a year, on average, in the country.

 

Important note: As of April 2020, initial residence permits are now valid for two years (they used to be one year) and subsequent permits are now valid for two years each. This was due to a legislative change in Portuguese immigration law.  If the change is permanent, it is expected that the initial card valid for two years will require the holder to spend at least fourteen days of that two-year period physically in Portugal. Renewal cards will then also be valid for two years each and applicants will have to spend at least fourteen days physically in Portugal during the two-year period.
Making and maintaining a qualifying investment for five years

 

You must provide proof that you have individually invested the minimum amount required. As the main applicant, you must maintain the investment for as long as you and your dependants have Golden Visa resident status.
If and when you become a permanent resident or Portuguese citizen, the investment no longer needs to be held.

 

You can then liquidate any investment you have made.

 

 

Does Portugal's Golden Visa expire in 2023? Not exactly...

 

On 16 February 2023, the Portuguese government announced measures to solve the country's housing problem, including changes to the Golden Visa programme. Details are emerging about the nature of these changes.

 

On 19 July 2023, the Portuguese Parliament approved the final version of the "Mais Habitação" bill, which has a significant impact on the Golden Visa programme. It is now awaiting approval from the President of the Republic to be passed into law.

 

Subsequently, on 21 August 2023, the President of the Republic vetoed the package, sending it back to Parliament. Parliament is likely to approve the same bill when it reopens.

 

 

It's important to note that

 

Will the programme continue? The Golden Visa programme will remain active with certain investment options. However, it will no longer be possible to apply for a Golden Visa through a property investment or an investment in property-related funds.

 

What will happen to existing Golden Visa holders? Existing rights, including renewals, family reunification and applications for permanent residence, are not affected by the new changes.

 

When will it come into force? The law has not yet been passed. It is awaiting the President's approval.

Pending applications and future renewals will be converted to the D2 Entrepreneur's Permit without the usual 183-day residency requirement. Instead, a special regime of 7 days per year will apply.
New applications for residence permits related to investments, support for artistic production or the recovery and maintenance of the country's cultural heritage will continue to be accepted.

 

We don't know how many days it will take to make your decision. However, as this is a complex bill, it is possible that the President will use this period to make a decision.
If the President approves, these changes will come into force the day after they are officially published, without any grace period.

 

 

Changes in investment paths

 

The change means that several investment opportunities will no longer be available:

• Capital transfers of €1,500,000 or more.
• Acquisition of property
• Investment in funds with direct or indirect property investments.

 

Other investment opportunities

 

In contrast, the residency program will still be operational through other investment alternatives:

• Capital transfers equal to or exceeding €500,000 in qualifying venture capital funds (with no real estate investments)
• Creation of at least 10 jobs
• Capital transfer equal to or more than €500,000 in research activities conducted by public or private scientific research institutions.
• Capital transfers of €250,000 or more in supporting artistic production, recovery, or maintenance of national cultural heritage
• Capital transfers of €500,000 or more for forming a commercial company based in the national territory with the creation of five permanent jobs

 

The amendment provides a more reasonable and coordinated approach to the Golden Visa program, leading to diversified investment alternatives while preserving its appeal.
Investors wishing to proceed with the real estate method should continue with the paperwork and time-consuming steps (getting a NIF and opening a bank account in Portugal), in order to save time.

 

JPFC will actively participate in the discussion of the changes, and we will closely monitor the situation, keeping clients and partners aware of any developments. 

 

 

Documents Required

• Copy of your passport or any other official travel document
• Proof of investment
• Portuguese Fiscal number (NIF)
• Clean criminal record from your home country
• Tax identification from your home country
• Portuguese criminal record report
• Health Insurance that is valid in Portugal (if you plan to live in Portugal)
• Declaration from the investor confirming compliance with the investment requirements
• Declaration from Social Security proving the absence of debts to Security Authorities

 

Legalize Your Required Documents; All the above-mentioned documents that have been issued by foreign authorities, need to be legalized before being submitted in Portugal. The legalization must include an apostille if the subject country is a member of the Hague Convention.

 

Translate Your Required Documents; All documents need to be translated to Portuguese (if not already in Portuguese) and submitted with the visa applicants. These translated documents must also be certified.

 

 

 

 

What types of investments are eligible for the Golden Visa?

• Fund subscriptions

A minimum subscription of 500,000 euros in an eligible Portuguese fund (soon for funds related to the property sector).

• Company

Creation of a minimum of 10 new full-time jobs in a Portuguese company owned by the main applicant.

Creation of a minimum of eight new full-time jobs in a Portuguese company incorporated in a low-density area in Portugal, owned by the main applicant.

Investing a minimum of 500,000 euros in an existing Portuguese company, with the company created having to create a minimum of five new full-time jobs for at least three years.

• Donation

Invest a minimum of 250,000 euros in the preservation of national heritage in Portugal.

Invest a minimum of 500,000 euros in a research and development activity in Portugal.

 

 

Requirements: What are the requirements of the Golden Visa Portugal?

 

Minimum residence requirement

The Golden Visa Portugal programme has a low residency requirement.  Portugal requires Golden Visa residents to spend a minimum of seven days a year, on average, in the country.

 

Important note: As of April 2020, initial residence permits are now valid for two years (they used to be one year) and subsequent permits are now valid for two years each. This was due to a legislative change in Portuguese immigration law.  If the change is permanent, it is expected that the initial card valid for two years will require the holder to spend at least fourteen days of that two-year period physically in Portugal. Renewal cards will then also be valid for two years each and applicants will have to spend at least fourteen days physically in Portugal during the two-year period.
Making and maintaining a qualifying investment for five years

 

You must provide proof that you have individually invested the minimum amount required. As the main applicant, you must maintain the investment for as long as you and your dependants have Golden Visa resident status.
If and when you become a permanent resident or Portuguese citizen, the investment no longer needs to be held.

 

You can then liquidate any investment you have made.

 

 

Does Portugal's Golden Visa expire in 2023? Not exactly...

 

On 16 February 2023, the Portuguese government announced measures to solve the country's housing problem, including changes to the Golden Visa programme. Details are emerging about the nature of these changes.

 

On 19 July 2023, the Portuguese Parliament approved the final version of the "Mais Habitação" bill, which has a significant impact on the Golden Visa programme. It is now awaiting approval from the President of the Republic to be passed into law.

 

Subsequently, on 21 August 2023, the President of the Republic vetoed the package, sending it back to Parliament. Parliament is likely to approve the same bill when it reopens.

 

 

It's important to note that

 

Will the programme continue? The Golden Visa programme will remain active with certain investment options. However, it will no longer be possible to apply for a Golden Visa through a property investment or an investment in property-related funds.

 

What will happen to existing Golden Visa holders? Existing rights, including renewals, family reunification and applications for permanent residence, are not affected by the new changes.

 

When will it come into force? The law has not yet been passed. It is awaiting the President's approval.

Pending applications and future renewals will be converted to the D2 Entrepreneur's Permit without the usual 183-day residency requirement. Instead, a special regime of 7 days per year will apply.
New applications for residence permits related to investments, support for artistic production or the recovery and maintenance of the country's cultural heritage will continue to be accepted.

 

We don't know how many days it will take to make your decision. However, as this is a complex bill, it is possible that the President will use this period to make a decision.
If the President approves, these changes will come into force the day after they are officially published, without any grace period.

 

 

Changes in investment paths

 

The change means that several investment opportunities will no longer be available:

• Capital transfers of €1,500,000 or more.
• Acquisition of property
• Investment in funds with direct or indirect property investments.

 

Other investment opportunities

 

In contrast, the residency program will still be operational through other investment alternatives:

• Capital transfers equal to or exceeding €500,000 in qualifying venture capital funds (with no real estate investments)
• Creation of at least 10 jobs
• Capital transfer equal to or more than €500,000 in research activities conducted by public or private scientific research institutions.
• Capital transfers of €250,000 or more in supporting artistic production, recovery, or maintenance of national cultural heritage
• Capital transfers of €500,000 or more for forming a commercial company based in the national territory with the creation of five permanent jobs

 

The amendment provides a more reasonable and coordinated approach to the Golden Visa program, leading to diversified investment alternatives while preserving its appeal.
Investors wishing to proceed with the real estate method should continue with the paperwork and time-consuming steps (getting a NIF and opening a bank account in Portugal), in order to save time.

 

JPFC will actively participate in the discussion of the changes, and we will closely monitor the situation, keeping clients and partners aware of any developments. 

 

 

Documents Required

• Copy of your passport or any other official travel document
• Proof of investment
• Portuguese Fiscal number (NIF)
• Clean criminal record from your home country
• Tax identification from your home country
• Portuguese criminal record report
• Health Insurance that is valid in Portugal (if you plan to live in Portugal)
• Declaration from the investor confirming compliance with the investment requirements
• Declaration from Social Security proving the absence of debts to Security Authorities

 

Legalize Your Required Documents; All the above-mentioned documents that have been issued by foreign authorities, need to be legalized before being submitted in Portugal. The legalization must include an apostille if the subject country is a member of the Hague Convention.

 

Translate Your Required Documents; All documents need to be translated to Portuguese (if not already in Portuguese) and submitted with the visa applicants. These translated documents must also be certified.

 

 

 

 

What types of investments are eligible for the Golden Visa?

• Fund subscriptions

A minimum subscription of 500,000 euros in an eligible Portuguese fund (soon for funds related to the property sector).

• Company

Creation of a minimum of 10 new full-time jobs in a Portuguese company owned by the main applicant.

Creation of a minimum of eight new full-time jobs in a Portuguese company incorporated in a low-density area in Portugal, owned by the main applicant.

Investing a minimum of 500,000 euros in an existing Portuguese company, with the company created having to create a minimum of five new full-time jobs for at least three years.

• Donation

Invest a minimum of 250,000 euros in the preservation of national heritage in Portugal.

Invest a minimum of 500,000 euros in a research and development activity in Portugal.

 

 

Requirements: What are the requirements of the Golden Visa Portugal?

 

Minimum residence requirement

The Golden Visa Portugal programme has a low residency requirement.  Portugal requires Golden Visa residents to spend a minimum of seven days a year, on average, in the country.

 

Important note: As of April 2020, initial residence permits are now valid for two years (they used to be one year) and subsequent permits are now valid for two years each. This was due to a legislative change in Portuguese immigration law.  If the change is permanent, it is expected that the initial card valid for two years will require the holder to spend at least fourteen days of that two-year period physically in Portugal. Renewal cards will then also be valid for two years each and applicants will have to spend at least fourteen days physically in Portugal during the two-year period.
Making and maintaining a qualifying investment for five years

 

You must provide proof that you have individually invested the minimum amount required. As the main applicant, you must maintain the investment for as long as you and your dependants have Golden Visa resident status.
If and when you become a permanent resident or Portuguese citizen, the investment no longer needs to be held.

 

You can then liquidate any investment you have made.

 

 

Does Portugal's Golden Visa expire in 2023? Not exactly...

 

On 16 February 2023, the Portuguese government announced measures to solve the country's housing problem, including changes to the Golden Visa programme. Details are emerging about the nature of these changes.

 

On 19 July 2023, the Portuguese Parliament approved the final version of the "Mais Habitação" bill, which has a significant impact on the Golden Visa programme. It is now awaiting approval from the President of the Republic to be passed into law.

 

Subsequently, on 21 August 2023, the President of the Republic vetoed the package, sending it back to Parliament. Parliament is likely to approve the same bill when it reopens.

 

 

It's important to note that

 

Will the programme continue? The Golden Visa programme will remain active with certain investment options. However, it will no longer be possible to apply for a Golden Visa through a property investment or an investment in property-related funds.

 

What will happen to existing Golden Visa holders? Existing rights, including renewals, family reunification and applications for permanent residence, are not affected by the new changes.

 

When will it come into force? The law has not yet been passed. It is awaiting the President's approval.

Pending applications and future renewals will be converted to the D2 Entrepreneur's Permit without the usual 183-day residency requirement. Instead, a special regime of 7 days per year will apply.
New applications for residence permits related to investments, support for artistic production or the recovery and maintenance of the country's cultural heritage will continue to be accepted.

 

We don't know how many days it will take to make your decision. However, as this is a complex bill, it is possible that the President will use this period to make a decision.
If the President approves, these changes will come into force the day after they are officially published, without any grace period.

 

 

Changes in investment paths

 

The change means that several investment opportunities will no longer be available:

• Capital transfers of €1,500,000 or more.
• Acquisition of property
• Investment in funds with direct or indirect property investments.

 

Other investment opportunities

 

In contrast, the residency program will still be operational through other investment alternatives:

• Capital transfers equal to or exceeding €500,000 in qualifying venture capital funds (with no real estate investments)
• Creation of at least 10 jobs
• Capital transfer equal to or more than €500,000 in research activities conducted by public or private scientific research institutions.
• Capital transfers of €250,000 or more in supporting artistic production, recovery, or maintenance of national cultural heritage
• Capital transfers of €500,000 or more for forming a commercial company based in the national territory with the creation of five permanent jobs

 

The amendment provides a more reasonable and coordinated approach to the Golden Visa program, leading to diversified investment alternatives while preserving its appeal.
Investors wishing to proceed with the real estate method should continue with the paperwork and time-consuming steps (getting a NIF and opening a bank account in Portugal), in order to save time.

 

JPFC will actively participate in the discussion of the changes, and we will closely monitor the situation, keeping clients and partners aware of any developments. 

 

 

Documents Required

• Copy of your passport or any other official travel document
• Proof of investment
• Portuguese Fiscal number (NIF)
• Clean criminal record from your home country
• Tax identification from your home country
• Portuguese criminal record report
• Health Insurance that is valid in Portugal (if you plan to live in Portugal)
• Declaration from the investor confirming compliance with the investment requirements
• Declaration from Social Security proving the absence of debts to Security Authorities

 

Legalize Your Required Documents; All the above-mentioned documents that have been issued by foreign authorities, need to be legalized before being submitted in Portugal. The legalization must include an apostille if the subject country is a member of the Hague Convention.

 

Translate Your Required Documents; All documents need to be translated to Portuguese (if not already in Portuguese) and submitted with the visa applicants. These translated documents must also be certified.

 

 

 

 

Portugal Golden Visa – Updated Guide for International Investors

 

Portugal’s Golden Visa Program remains active and continues to attract qualified international investors seeking European residency, visa-free travel within the Schengen Area, and a secure pathway to Portuguese citizenship.

 

Following legislative changes in 2023, several investment routes—particularly those linked to real estate—were discontinued. However, a strong set of competitive and diversified investment options remains available, making Portugal one of Europe’s most attractive residency-by-investment destinations.

 

JPFC International Property Consultants closely monitors all regulatory updates and provides full guidance throughout the entire process.

---

 

1. Current Eligible Investment Routes

 

1.1. Fund Subscription (minimum €500,000)

 

A minimum investment of €500,000 in eligible Portuguese venture capital funds, provided that the fund does not include direct or indirect real estate investments.
Coming soon: new, innovative fund options aligned with regulatory requirements.

---

 

1.2. Job Creation

• Creation of 10 full-time jobs within a Portuguese company owned by the applicant;

• Creation of 8 jobs in low-density areas;

• Investment of €500,000 in an existing Portuguese company, provided at least 5 new full-time jobs are created and maintained for a minimum of 3 years.

---

1.3. Cultural and Scientific Contributions

• €250,000 minimum investment in projects supporting the preservation or restoration of national cultural heritage;

• €500,000 minimum investment in research and development activities conducted by public or private research institutions.

---

 

2. Golden Visa Requirements

 

2.1. Minimum Stay Requirement

 

Portugal maintains one of Europe’s lowest physical presence requirements:

• 7 days per year on average, over the 5-year residency period.

Since the 2020 amendment:

• The initial residence permit is valid for 2 years, requiring a total of 14 days of stay.

• Each renewal is also valid for 2 years, requiring another 14 days of physical presence.

---

 

 

2.2. Maintain the Investment for 5 Years

Applicants must:

• Maintain the qualifying investment for the full 5-year period;

• Comply with all program requirements while holding Golden Visa residency status.

Once permanent residency or citizenship is granted, the investment may be liquidated.

---

 

3. Did the Portugal Golden Visa End in 2023?

No — the program continues, but with important changes.

 

3.1. Investment routes that are no longer eligible

• Real estate purchases (residential or commercial)

• Investments in funds with direct or indirect real estate exposure

• Capital transfer of €1,500,000 or more

 

3.2. What remains eligible

All remaining categories mentioned in Section 1 continue to qualify.

 

3.3. Legislative status

• The “More Housing” bill was approved by Parliament.

• It is pending final approval by the President of the Republic.

• Once signed, it will enter into force the day after official publication, with no grace period.

 

Applicants currently in process:

• Pending applications and renewals will continue to be processed.

• They will be converted into a category similar to the D2 Entrepreneur Visa but retaining the Golden Visa’s reduced residency requirement of 7 days per year.

---

 

4. Required Documentation

 

Personal documents

• Valid passport

• Criminal record from the country of origin

• Portuguese criminal record (obtained locally)

• Portuguese tax number (NIF)

• Tax ID from the country of origin

• Health insurance valid in Portugal (if residing in the country)

 

Investment documentation

• Proof of capital transfer

• Proof of fund subscription or company incorporation (depending on the selected route)

• Investor declaration confirming compliance with Golden Visa rules

• Social Security clearance certificate (no outstanding debts)

 

Legalisation & Translation

All foreign documents must be:

• Legalised (Apostille under The Hague Convention or consular legalisation);

• Translated into Portuguese by a certified translator.

---

 

5. How JPFC Supports Investors

JPFC International Property Consultants provides a complete end-to-end service:

• Strategic advisory on the best Golden Visa investment route

• Coordination with top legal, tax, and fund management partners

• Full documentation and compliance guidance

• Continuous updates on legislative developments

• Assistance throughout all residency stages