Golden Visa Guide for Portugal in 2025: A Comprehensive Overview
The Portugal Golden Visa program, launched in 2012, has undergone significant changes, with the most notable being the exclusion of the real estate investment option. This shift, effective from October 2023, aims to focus on qualified investments, such as investing at least €500,000 in venture capital and private equity funds, creating a minimum number of jobs through establishing a commercial company, transferring capital for research activities, or investing in arts and cultural heritage restoration.
Since its inception, the program has attracted over 15,000 investors and injected more than seven billion dollars into the Portuguese economy. It has been popular, with over 90% of all applicants obtaining their Portugal residence permit via real estate acquisitions. However, the new changes aim to diversify the investment options and encourage more growth in various sectors.
The least expensive option for the Portugal Golden Visa is €250,000, which can be used for donations to arts or scientific research. Investors can also qualify for the visa by creating jobs, supporting research, investing in venture capital and private equity funds, or making cultural or heritage donations.
The application process for the Portugal Golden Visa can be done online through the Immigration and Borders Services portal, Serviço de Estrangeiros e Fronteira (SEF). It requires proof of investment, personal documents, and compliance with the Portuguese Tax and Customs Authority and Social Security systems.
One important consideration for US applicants is the Foreign Account Tax Compliance Act (FATCA), which may affect the availability of certain funds.
The Portugal Golden Visa offers residency to foreign nationals, granting visa-free travel within the Schengen Area and eligibility for citizenship after five years. The program has seen growth in applicants from countries other than China, such as Russia, Turkey, South Africa, Brazil, and others.
It's worth noting that the Non-Habitual Residency (NHR) tax regime, a big selling point for many expats getting a golden visa in Portugal, has ended. No new NHR applications are being taken.
The program does have a light minimal stay requirement, with investors only needing to be in Portugal for seven days in the first year and fourteen days every two years after that.
Portugal's parliament has passed a budget proposal to amend the golden visa program's underlying laws, and the 6- to 18-month duration of the golden visa application process will now count towards the five-year period for qualifying for citizenship.
In conclusion, the Portugal Golden Visa program continues to offer a pathway for foreign investors to gain residency in Portugal. While the real estate investment option is no longer available, the new changes open up opportunities for investment in various sectors, providing a more diverse and dynamic approach to economic growth.
