Your Informational Guide to Portugal Golden Visa Investments
At Get Golden Visa, we worked with applicants from all over the world interested in getting a Golden Visa in Portugal.
If you’re an international individual interested in residency and citizenship programs, you probably heard of the European “Golden Visa” programs.
These programs are offered throughout Europe, and they allow foreign applicants to obtain residency or citizenship in return for an investment.
Countries like Greece, Malta, Spain, and Portugal all offer Golden Visa Programs.
This article focuses on the various qualifying routes for the Golden Visa Portugal program and dissects them individually.
What You Will Find in This Article
Golden Visa Portugal
The Portuguese Golden Visa Program is a residency by investment (RBI) program, created to encourage foreign applicants to boost the Portuguese economy. The program offers a quick way to obtain a residence permit through a qualifying investment.
Historically, Golden Visa holders have generally become eligible to apply for Portuguese citizenship after five years of legal residence. Under the revised nationality law approved in 2026, this period is expected to increase to ten years for most applicants and seven years for EU and CPLP nationals. Portugal does not offer direct citizenship by investment. Portugal Citizenship by Investment (CBI) is not possible, but you could potentially be eligible to apply for citizenship as long as you fulfill a certain set of requirements.
The Portuguese government launched this program in 2012. Since then, 12,037 applicants have subscribed to it. As of 2023, Golden Visa applicants invested more than €7 billion in Portugal.
Any residence or citizenship in Europe is popular and valuable, which is why the “Golden Visa” programs draw many interest.
The Portuguese Golden Visa program is particularly attractive due to its many different eligible routes. You can choose how you would like to proceed.
As of late 2023, you are no longer allowed to invest in real estate, real estate related funds, or make a capital transfer to qualify for a Golden Visa. You need to stick to the remaining investment options that you will see below.
In this guide, we will go through the eligible routes and discuss them to inform you on the availabilities.
Portugal Golden Visa Investment Options
Before making any progress in the Golden Visa route in Portugal, you’ll need to obtain a NIF Number and open a Portuguese bank account.
Then, you need to make your own research, and choose an investment option. We’re going to list your options and then go in-depth into each one:
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- €500,000 Investment in Real Estate*
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- €500,000 Investment in a Fund in Portugal**
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- €350,000 Renovation of a Property that is 30 Years Old*
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- Low-Density Areas (€400,000 in Real Estate or €280,000 in the Renovation of Property)*
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- €1.5 million Capital Transfer*
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- Creation of 10 Jobs in Portugal
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- €500,000 capital transfer to increase shares of a company and creation of 5 jobs
-
- Donation of €250,000 to Arts/National Heritage/Culture
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- €500,000 Investment in Scientific and Technological Research
* As of late 2023, investing in real estate or direct capital transfer are no longer a qualifying option to apply for the Golden Visa program in Portugal.
** As of late 2023, investment funds that have a direct or indirect real estate investment are no longer a qualifying option to apply for a Golden Visa application.
€500,000 Investment in a Fund in Portugal: High Risk, High Reward
This particular option gained popularity in 2019 because it has a low minimum investment amount and low costs. The investment fund has to meet specific qualifications to be valid for the Golden Visa. There are currently a few dozen qualifying funds available in the market. Some focus on equities, companies, startups, or commodities. They are each regulated by the local market commissioner, CMVM.
Investment in funds is never for the faint of heart, and there are usually many things to consider before investing in one.
Any such investment involves risk, including the possible loss of capital. Applicants should conduct their own due diligence and seek independent legal, tax, financial, and investment advice before making any investment or immigration decision.
Here is a list of pros and cons:
Pros
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- You don’t have to look for a property through tedious visits
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- No extra costs, unlike real estate acquisition (IMT or IMI taxes, furniture, legal fees, transfer fees, etc.)
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- Someone else manages the fund,
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- You’ll diversify your investment, rather than investing in just one or two real estate properties
Cons
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- It’s harder to find and identify qualified funds
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- It’s riskier than conventional investments like real estate
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- Exiting can be difficult if you wish to get out before the fund dissolves – the maturity date differs for each fund
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- Someone else is in control of your investment
If you choose to invest in a fund, you’ll find that, in general, they can be split into three main categories:
Venture Capital Funds
This is where the old adage “High Risk, High Reward” comes to play. Venture capital funds usually focus on maximizing capital gains rather than yearly dividend payments.
At times, these funds may require an investment that is more than €500,000 and typically has a fixed maturity of ten years on average.
Private Equity Funds
These types of funds typically focus on yearly dividends. Your investment will be put into financial instruments or traditional markets.
You can choose a fund with medium to high risk and expect returns accordingly. You might need a bit more than €500,000, and the length of these funds can be ten years or higher.
Portuguese Golden Visa Funds
Many qualifying Portugal Golden Visa funds are structured with long-term residency applicants in mind and often have investment periods extending several years. Historically, these timelines have generally aligned with the residence periods associated with permanent residency and citizenship eligibility, subject to the applicable laws in force at the time.
Qualifying funds under the Portugal Golden Visa framework must comply with the applicable regulatory requirements, including restrictions related to direct and indirect real estate exposure. Fund structures, investment strategies, liquidity profiles, and risk levels vary significantly from one fund to another.
As with any investment, fund investments involve risk, including the possible loss of capital. Applicants should carefully review all fund documentation and seek independent legal, tax, financial, and investment advice before proceeding.
Get Golden Visa: Who We Are And What We Do
Get Get Golden Visa is a global mobility consultancy focused on residency and citizenship programs. We help international investors and families navigate available pathways through qualifying investment and contribution routes.
With our multilingual team based in Portugal and across multiple jurisdictions, we support clients throughout the residency and citizenship process with a transparent and structured approach.
Contact our team to discuss eligibility requirements, available routes, and the application process.
Get in Contact
Creation of 10 Jobs in Portugal: The Cheapest Option
This route is based on business and job creation in Portugal rather than a fixed minimum investment amount. To qualify, applicants are generally required to establish and maintain a business that creates at least 10 qualifying jobs in accordance with the applicable Portugal Golden Visa regulations.
The business structure, operational requirements, employment obligations, and compliance standards may vary depending on the company and activity involved. Applicants should seek qualified legal, tax, accounting, and business advice before proceeding with this route.
Portugal’s entrepreneurial ecosystem, particularly in cities such as Lisbon and Porto, has attracted international founders, technology companies, and start-up activity in recent years. As a result, some applicants choose this route as part of a broader business expansion or relocation strategy.
As with any business activity, this route involves operational, regulatory, and financial risks, including the possible loss of capital. Applicants should conduct independent due diligence and seek professional advice before making any investment or business decision.
!
€500,000 Capital Transfer To Increase Shares of a Company And Creation Of Five Jobs: The One In-Between
This option doesn’t seem extremely popular, since it falls somewhere between creating a company and investing in a fund. There are some differences in the sense that you only need to create five jobs and only for three years.
So if you like the idea of creating jobs, but don’t want to start a company from scratch, this option is exactly the one for you!
Donation of €250,000 to Arts/National Heritage/ Culture: A Mystery
This option seems to be quite ambiguous as offered by the program. In order to qualify for this, you need to donate €250,000 to Portuguese Arts, National Heritage, or Culture. So far, there hasn’t been enough information for an extensive understanding of what can qualify for this donation. Luckily you can always book a free consultation with the experts here at Get Golden Visa.
The upside of this route is that it’s cheap and convenient. Once the professionals help you identify the institution to donate to and help with the paperwork, it’s done. The downside is that it’s a donation, so you’ll be saying goodbye to your money forever.
So if you currently have €350,000 – €500,000 in liquid assets and you’re looking for a cheap way to get a European residence, then this option is the best for you!
€500,000 Investment in Scientific and Technological Research: The Ambiguous Option
A €500,000 in scientific or technological research conducted by an accredited national institution in Portugal should technically qualify you for a Golden Visa. Yet, this route’s terms are so unclear that nearly no one chooses to go through it.
If and when more information is released on this route, we will update you promptly.
€500,000 Investment in Real Estate: The Most Popular Option (Former Option)
This investment route was what most investors chose to go through. It could be any type of property, located anywhere within Portugal. However, note that as of January 1st, 2022, residential properties in Lisbon, Porto, and coastal towns of the mainland don’t qualify. Furthermore, as of late 2023, no real estate investment is allowed to qualify for a Golden Visa application.
Portugal has no restrictions on foreigners acquiring real estate. This option was appealing as you had the opportunity to invest in the ever-growing Portuguese real estate market. You could then choose to rent the property, live in it yourself, and even be able to sell it if you ever become a permanent resident or obtain Portuguese citizenship.
For more information on real estate in Portugal, you can read our Guide on Buying Real Estate in Portugal.
€350,000 Renovation Of Property: The Second Most Popular Option (Former Option)
The government in Portugal offered this lower investment threshold for investors who are willing to purchase a real estate property that is at least 30 years old and renovate it. Keep in mind that the cost of the property and its renovation should add up to a minimum of €350,000.
This was unfortunately next to impossible to take on alone as an investor without a real estate developer. The developer typically took care of all the paperwork and the actual renovation of the property. Though it is a hassle to go through for the developer, this option is still quite popular because the qualifying stock has a handsome profit margin for the developer and the investor alike.
Keep in mind, though, that it was highly unlikely that you can find such stock in city centers, especially Lisbon.
This option, along with other real estate acquisition options for Portugal’s Golden Visa program is no longer accepted as a viable investment method for Golden Visas, along with the ‘Mais Habitaçao’ legislation passed by the Portuguese Government.
Low-Density Areas: Lower Prices, Fewer Options (Former Option)
To prevent a real estate bubble from happening, the Portuguese government makes an offer that is hard to resist, but it’s not without its downsides.
If you choose to make a real investment or renovate a property in a Low-Density area in Portugal, you get a 20 percent reduction on the minimum investment required. Why don’t investors go for this all the time? Well, while it is a significant change in the minimum investment, you must remember that properties in low-density areas are harder to rent or sell.
Besides, there are fewer options for real estate in the lower-density areas, since most of Portugal’s population is located near its larger cities. A property in a low-density area might be a nice place to retire to, but definitely won’t yield the same returns on rent or reselling of property.
This option is no longer available to obtain a Golden Visa.
However, independent from a Golden Visa, obtaining a property in a rural area can be an excellent option for you if you’re planning to retire in Portugal.
Where Are The Low-Density Areas In Portugal?
Below you can find a table of all the low-density areas in Portugal as of 2023:
| City/ Municipality | ||
|---|---|---|
| Águeda | União das freguesias de Belazaima do Chão, Castanheira do Vouga e Agadão | União das freguesias do Préstimo e Macieira de Alcoba |
| Amarante | Ansiães | Candemil |
| Gouveia (São Simão) | Jazente | |
| Rebordelo | Salvador do Monte | |
| União das freguesias de Aboadela, Sanche e Várzea | União das freguesias de Olo e Canadelo | |
| União das freguesias de Bustelo, Carneiro e Carvalho de Rei | Vila Chã do Marão | |
| Amares | Bouro (Santa Marta) | Goães |
| União das freguesias de Caldelas, Sequeiros e Paranhos | União das freguesias de Vilela, Seramil e Paredes Secas | |
| Caminha | Dem | União das freguesias de Arga (Baixo, Cima e São João) |
| Castelo de Paiva | União das freguesias de Gondar e Orbacém | Real |
| União das Freguesias da Raiva, Pedorido e Paraíso | – | |
| Condeixa-a-Nova | Furadouro | – |
| Guimarães | União das freguesias de Arosa e Castelões | – |
| Loulé | Alte | Ameixial |
| Salir | União de freguesias de Querença, Tôr e Benafim | |
| Marco de Canaveses | Várzea, Aliviada e Folhada | – |
| Ourém | Espite | União das freguesias de Matas e Cercal |
| União das freguesias de Freixianda, Ribeira do Fárrio e Formigais | União das freguesias de Rio de Couros e Casal dos Bernardos | |
| Pombal | Abiul | Anais |
| Ponte de Lima | Ardegão, Freixo e Mato | Associação de freguesias do Vale do Neiva |
| Bárrio e Cepões | Beiral do Lima | |
| Boalhosa | Cabaços e Fojo Lobal | |
| Cabração e Moreira do Lima | Calheiros | |
| Estorãos | Friastelas | |
| Gemieira | Gondufe | |
| Labruja | Labrujó, Rendufe e Vilar do Monte | |
| Navió e Vitorino dos Piães | Poiares | |
| Serdedelo | – | |
| Porto de Mós | São Bento | – |
| Santarém | União das freguesias de Casével e Vaqueiros | – |
| Silves | São Marcos da Serra | – |
| Tavira | Cachopo | Santa Catarina da Fonte do Bispo |
| Tomar | Olalhas | Sabacheira |
| União das freguesias de Além da Ribeira e Pedreira | União das freguesias de Casais e Alviobeira | |
| União das freguesias de Serra e Junceira | – | |
| Vale de Cambra | Arões | Junqueira |
| Valença | Boivão | Fontoura |
| União das freguesias de Gondomil e Safins | União das freguesias de São Julião e Silva | |
Capital Transfer: The Most Convenient Option (Former Option)
This was the most straightforward route to reach the Golden Visa. However, it is no longer an available option to obtain a Golden Visa.
Make a €1.5 million capital transfer to Portugal, and voila, you’re done. This option is the most convenient and easiest to complete since you don’t have to go through the hassle of finding a real estate property and maintaining it, or researching what fund will yield higher ROI, and so on.
The ticket price for this option is very high, but it is also the most conservative option since your capital will simply move from one place to another without investment risk. However, if there’s no risk, there’s usually no reward. As this is technically not an investment option, your capital would just be sitting there, locked away safe and sound, but without the chance of earning returns.
This could be a good option if you have expendable capital and would like to become a resident in Europe to expand your work or perhaps retire there. The capital needs to be kept in a Portuguese bank for the duration of holding the Golden Visa. If the amount drops under €1.5 million at any point, the Golden Visa status could be revoked. Once you become a permanent resident or a Portuguese citizen (Which you would be eligible for after five years), you are free to remove the capital from the bank.
Get Golden Visa: Who We Are And What We Do
Get Get Golden Visa is a global mobility consultancy focused on residency and citizenship programs. We help international investors and families navigate available pathways through qualifying investment and contribution routes.
With our multilingual team based in Portugal and across multiple jurisdictions, we support clients throughout the residency and citizenship process with a transparent and structured approach.
Contact our team to discuss eligibility requirements, available routes, and the application process.
Get in Contact
Creation of 10 Jobs in Portugal: The Cheapest Option
This route is based on business and job creation in Portugal rather than a fixed minimum investment amount. To qualify, applicants are generally required to establish and maintain a business that creates at least 10 qualifying jobs in accordance with the applicable Portugal Golden Visa regulations.
The business structure, operational requirements, employment obligations, and compliance standards may vary depending on the company and activity involved. Applicants should seek qualified legal, tax, accounting, and business advice before proceeding with this route.
Portugal’s entrepreneurial ecosystem, particularly in cities such as Lisbon and Porto, has attracted international founders, technology companies, and start-up activity in recent years. As a result, some applicants choose this route as part of a broader business expansion or relocation strategy.
As with any business activity, this route involves operational, regulatory, and financial risks, including the possible loss of capital. Applicants should conduct independent due diligence and seek professional advice before making any investment or business decision.
!
€500,000 Capital Transfer To Increase Shares of a Company And Creation Of Five Jobs: The One In-Between
This option doesn’t seem extremely popular, since it falls somewhere between creating a company and investing in a fund. There are some differences in the sense that you only need to create five jobs and only for three years.
So if you like the idea of creating jobs, but don’t want to start a company from scratch, this option is exactly the one for you!
Donation of €250,000 to Arts/National Heritage/ Culture: A Mystery
This option seems to be quite ambiguous as offered by the program. In order to qualify for this, you need to donate €250,000 to Portuguese Arts, National Heritage, or Culture. So far, there hasn’t been enough information for an extensive understanding of what can qualify for this donation. Luckily you can always book a free consultation with the experts here at Get Golden Visa.
The upside of this route is that it’s cheap and convenient. Once the professionals help you identify the institution to donate to and help with the paperwork, it’s done. The downside is that it’s a donation, so you’ll be saying goodbye to your money forever.
So if you currently have €350,000 – €500,000 in liquid assets and you’re looking for a cheap way to get a European residence, then this option is the best for you!
€500,000 Investment in Scientific and Technological Research: The Ambiguous Option
A €500,000 in scientific or technological research conducted by an accredited national institution in Portugal should technically qualify you for a Golden Visa. Yet, this route’s terms are so unclear that nearly no one chooses to go through it.
If and when more information is released on this route, we will update you promptly.
€500,000 Investment in Real Estate: The Most Popular Option (Former Option)
This investment route was what most investors chose to go through. It could be any type of property, located anywhere within Portugal. However, note that as of January 1st, 2022, residential properties in Lisbon, Porto, and coastal towns of the mainland don’t qualify. Furthermore, as of late 2023, no real estate investment is allowed to qualify for a Golden Visa application.
Portugal has no restrictions on foreigners acquiring real estate. This option was appealing as you had the opportunity to invest in the ever-growing Portuguese real estate market. You could then choose to rent the property, live in it yourself, and even be able to sell it if you ever become a permanent resident or obtain Portuguese citizenship.
For more information on real estate in Portugal, you can read our Guide on Buying Real Estate in Portugal.
€350,000 Renovation Of Property: The Second Most Popular Option (Former Option)
The government in Portugal offered this lower investment threshold for investors who are willing to purchase a real estate property that is at least 30 years old and renovate it. Keep in mind that the cost of the property and its renovation should add up to a minimum of €350,000.
This was unfortunately next to impossible to take on alone as an investor without a real estate developer. The developer typically took care of all the paperwork and the actual renovation of the property. Though it is a hassle to go through for the developer, this option is still quite popular because the qualifying stock has a handsome profit margin for the developer and the investor alike.
Keep in mind, though, that it was highly unlikely that you can find such stock in city centers, especially Lisbon.
This option, along with other real estate acquisition options for Portugal’s Golden Visa program is no longer accepted as a viable investment method for Golden Visas, along with the ‘Mais Habitaçao’ legislation passed by the Portuguese Government.
Low-Density Areas: Lower Prices, Fewer Options (Former Option)
To prevent a real estate bubble from happening, the Portuguese government makes an offer that is hard to resist, but it’s not without its downsides.
If you choose to make a real investment or renovate a property in a Low-Density area in Portugal, you get a 20 percent reduction on the minimum investment required. Why don’t investors go for this all the time? Well, while it is a significant change in the minimum investment, you must remember that properties in low-density areas are harder to rent or sell.
Besides, there are fewer options for real estate in the lower-density areas, since most of Portugal’s population is located near its larger cities. A property in a low-density area might be a nice place to retire to, but definitely won’t yield the same returns on rent or reselling of property.
This option is no longer available to obtain a Golden Visa.
However, independent from a Golden Visa, obtaining a property in a rural area can be an excellent option for you if you’re planning to retire in Portugal.
Where Are The Low-Density Areas In Portugal?
Below you can find a table of all the low-density areas in Portugal as of 2023:
| City/ Municipality | ||
|---|---|---|
| Águeda | União das freguesias de Belazaima do Chão, Castanheira do Vouga e Agadão | União das freguesias do Préstimo e Macieira de Alcoba |
| Amarante | Ansiães | Candemil |
| Gouveia (São Simão) | Jazente | |
| Rebordelo | Salvador do Monte | |
| União das freguesias de Aboadela, Sanche e Várzea | União das freguesias de Olo e Canadelo | |
| União das freguesias de Bustelo, Carneiro e Carvalho de Rei | Vila Chã do Marão | |
| Amares | Bouro (Santa Marta) | Goães |
| União das freguesias de Caldelas, Sequeiros e Paranhos | União das freguesias de Vilela, Seramil e Paredes Secas | |
| Caminha | Dem | União das freguesias de Arga (Baixo, Cima e São João) |
| Castelo de Paiva | União das freguesias de Gondar e Orbacém | Real |
| União das Freguesias da Raiva, Pedorido e Paraíso | – | |
| Condeixa-a-Nova | Furadouro | – |
| Guimarães | União das freguesias de Arosa e Castelões | – |
| Loulé | Alte | Ameixial |
| Salir | União de freguesias de Querença, Tôr e Benafim | |
| Marco de Canaveses | Várzea, Aliviada e Folhada | – |
| Ourém | Espite | União das freguesias de Matas e Cercal |
| União das freguesias de Freixianda, Ribeira do Fárrio e Formigais | União das freguesias de Rio de Couros e Casal dos Bernardos | |
| Pombal | Abiul | Anais |
| Ponte de Lima | Ardegão, Freixo e Mato | Associação de freguesias do Vale do Neiva |
| Bárrio e Cepões | Beiral do Lima | |
| Boalhosa | Cabaços e Fojo Lobal | |
| Cabração e Moreira do Lima | Calheiros | |
| Estorãos | Friastelas | |
| Gemieira | Gondufe | |
| Labruja | Labrujó, Rendufe e Vilar do Monte | |
| Navió e Vitorino dos Piães | Poiares | |
| Serdedelo | – | |
| Porto de Mós | São Bento | – |
| Santarém | União das freguesias de Casével e Vaqueiros | – |
| Silves | São Marcos da Serra | – |
| Tavira | Cachopo | Santa Catarina da Fonte do Bispo |
| Tomar | Olalhas | Sabacheira |
| União das freguesias de Além da Ribeira e Pedreira | União das freguesias de Casais e Alviobeira | |
| União das freguesias de Serra e Junceira | – | |
| Vale de Cambra | Arões | Junqueira |
| Valença | Boivão | Fontoura |
| União das freguesias de Gondomil e Safins | União das freguesias de São Julião e Silva | |
Capital Transfer: The Most Convenient Option (Former Option)
This was the most straightforward route to reach the Golden Visa. However, it is no longer an available option to obtain a Golden Visa.
Make a €1.5 million capital transfer to Portugal, and voila, you’re done. This option is the most convenient and easiest to complete since you don’t have to go through the hassle of finding a real estate property and maintaining it, or researching what fund will yield higher ROI, and so on.
The ticket price for this option is very high, but it is also the most conservative option since your capital will simply move from one place to another without investment risk. However, if there’s no risk, there’s usually no reward. As this is technically not an investment option, your capital would just be sitting there, locked away safe and sound, but without the chance of earning returns.
This could be a good option if you have expendable capital and would like to become a resident in Europe to expand your work or perhaps retire there. The capital needs to be kept in a Portuguese bank for the duration of holding the Golden Visa. If the amount drops under €1.5 million at any point, the Golden Visa status could be revoked. Once you become a permanent resident or a Portuguese citizen (Which you would be eligible for after five years), you are free to remove the capital from the bank.
A Summary of the Investment Options
The Portuguese Golden Visa Program is anything but lacking in diversity, as we’ve explored in this article. As a quick summary, the most popular option to apply for a Golden Visa in Portugal is investing in Venture Capital or Private Equity funds in Portugal.
These funds can no longer be directly or indirectly related to real estate investments. You can no longer invest in Real Estate, Real Estate related funds, or make a direct Capital Transfer to qualify for a Golden Visa.
If creating jobs in your niche, you can start your company or invest in an already existing one. Alternatively, you can go for the donation to Arts and Culture if you’re a lover of arts and would like to see more of it.
Whichever way you choose, be assured that we at Get Golden Visa will be with you every step of the way!
Frequently Asked Questions
Can I Resell my Real Estate property after I obtain a Golden Visa in Portugal?
You must hold on to the property until you become a permanent resident or a citizen of Portugal.
Can Foreigners Buy Property in Portugal?
Absolutely! Portugal has no restrictions on Foreigners Buying Property there.
Can Foreigners Get a Mortgage in Portugal?
Residents and non-residents in Portugal alike can apply for a mortgage, whether for residential or business purposes. For more information, check out our article on mortgages for foreigners in Portugal.
Does Portugal Golden Visa lead to Citizenship?
No, not directly. After a certain number of years of having the Golden Visa and keeping up with its requirements, you could be eligible to apply for Portuguese citizenship. That comes with a certain number of requirements of its own.
