GOLDEN VISA

The Golden Visa is a residence permit in Portugal for third-country nationals (not belonging to the European Union) who make investments in the country. Golden Visa holders have the right to live and work in Portugal and travel without a visa through the Schengen Area, among other benefits.

FRAMEWORK

The Residence Permit for Investment, known as the Golden Visa, is granted to third-country nationals for specific investments established by Portuguese legislation.
Following the changes to the Golden Visa regime, which came into force in October 2023, five types of investment are eligible for this Residence Permit.

Below is a summary of the Golden Visa regime and its relevant information.

GENERAL CONDITIONS

To apply, the applicant must demonstrate the realisation of one of the investments provided for in the legislation (see the list of eligible investments below) and guarantee that they have no relevant criminal record and are not listed in the Schengen Information Services.

To maintain and renew the Golden Visa, the applicant must maintain the investment for a minimum of five years, fulfil minimum periods of stay in Portugal (at least 7 days per year), not be subject to entry or residence bans in the Schengen Information System, not have been sentenced to more than one year in prison in Portugal and not pose a threat to internal security or public order.

ELIGIBLE INVESTMENTS

There are currently five investment options eligible for the Golden Visa:

• Venture capital and investment funds: an investment of €500,000 or more in the acquisition of units in venture capital or investment funds established in Portugal, specialising in the capitalisation of Portuguese commercial companies (at least 60% of the investment in Portuguese companies).
• Commercial company: an investment of €500,000 or more to create a new commercial company or increase the share capital of an existing company, accompanied by the creation of five new permanent jobs or the maintenance of ten jobs, at least five of which must be permanent.
• Cultural project: investment of €250,000 or more in support of artistic production, recovery or maintenance of national cultural heritage, carried out by institutions certified by the Ministry of Culture.
• Creation of at least 10 new jobs.
• Scientific research: investment of €500,000 or more in scientific research projects carried out by institutions certified by the Portuguese government.

The Golden Visa scheme allows for a 20 per cent reduction in investment requirements when the investment is made in low-density regions and is aimed at cultural projects, job creation or scientific research.

Since 7 October 2023, the acquisition of real estate, with or without rehabilitation works, is no longer eligible for new applications. However, this change does not affect previously submitted applications or prevent their renewal. New Golden Visa applications must be based on the investments listed above.

BENEFITS

Among the many benefits are:

• Visa exemption for travelling within the Schengen Area.
• Freedom to enter and leave Portugal without restrictions.
• The minimum stay requirement in Portugal is just 7 days per year.
• Access to public and private services in Portugal, including the National Health Service.
• The right to work, study and invest in Portugal.
• Possibility of applying for Portuguese citizenship or a permanent residence permit after five years.
• Family members can also benefit from these advantages by applying for family reunification (see below for eligible family members).

ELIGIBLE FAMILY MEMBERS

It is possible to apply for a residence permit for the following members of the investor's family, by applying for family reunification:

• Spouse.
• Minor or incapacitated children in the custody of the couple or one of the spouses.
• Minors adopted by the applicant or his/her spouse.
• Unmarried adult children, dependent on the couple or one of the spouses, who are studying.
• Direct ascendants of the applicant or their spouse, provided they are dependent.
• Minor siblings are under the resident's guardianship.

OFFICIAL GOVERNMENT FEES (UPDATED FROM 01/2025)

In addition to the investment, the Golden Visa applicant must consider the following administrative costs (values in force on the date of this newsletter):

• Issue of the first residence permit:
• Analysis fee: € 605.10
• Residence permit card issue fee: € 6045.20
• Renewals:
• Fee for analysing the renewal application: € 605.10
• Fee for issuing a renewed residence permit card: € 3023.20

Despite the changes in legislation, the Golden Visa regime remains in force, and new applications can still be submitted. The main consequence of the changes is the impossibility of new applications through investments in the property sector.