The Portugal Golden Visa Program, also known as the Residence Permit Program, is a five-year residency-by-investment scheme designed for non-EU citizens. To date, this is one of the most sought-after alternatives for those who are seeking freedom, comfort, business and family security, asset security, quality healthcare and education systems, and much more!
The stats speak for themselves. Since its foundation, the Portuguese passport has attracted more than 10,000 investors from all over the globe. Many other countries lag in terms of this indicator, which means Portugal is high in demand. Only last year, 865 investors got Portugal residence permits. On the contrary, a Spanish residence permit faces a significant decrease. Just 232 applicants in the first half of 2021. The same goes for the Italian Investor Visa “La Dolce Visa,” which saw only 40 applications in the same year. Too sad.
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The Portugal Golden Visa Program was launched in October 2012. The main objective was to attract quality foreign direct investments to the country. It was much in need after the 2008 economic crisis. And the Portugal Golden Visa was a clever move. The program went down like a bomb, raising €5,5 billion in just eight years. So the government just hit the spot with this initiative.
Golden Visa Program isn’t a new thing. As it was stated above, many countries offer their residence permit. However, Portugal has this something that goes right to people’s hearts.
Since the inception of the Portugal Golden Visa Program, thousands of families have relocated to Portugal. They started new lives. They opened up new opportunities. And all these changes cannot but rejoice.
So in this guide, you’ll learn:
The benefits of the Portuguese Golden Visa Program are one of the main reasons why foreign investors are so eager to seek a residency permit exactly in this country. Naturally, one of the winning benefits is that your dependent family can be included in the application. However, the rest cannot be overlooked either.
So why should you put Portugal first?
As you can see, the Golden Visa scheme has much to offer. This country never ceases to impress.
Just one thing as proof: Portugal was the first country to introduce a “game-changing” remote working legislation. The Portuguese government banned bosses from texting workers after business hours. Progressive? What do you think?
Actually, Covid has led investors to reevaluate their motives for investing. As a result, many people are now focusing on their families and healthy lifestyle rather than on benefits to their professional endeavors.
Portugal is also considered the 5th best country for wealthy retirees, according to US Ranking. Just read this inspiring story of the US entrepreneur, John Bandak, who relocated to the sunny Algarve.
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Portuguese Golden Visa offers different options.
The most popular option. Actually, more than 90% of applicants chose to get Golden Visa this way.
For a full list of low-density areas that qualify for golden visa residents, see our map in section Low-density vs. High-density areas. Also, this section explores more detailed information on purchasing real estate in Portugal, where are the best places to buy, and why.
In light of the ensuing changes, this option has become one of the most attractive. Transfer of at least €1,5 million to get permanent residency in Portugal. Compared to real estate, making a direct investment will save you time and money. Simple and straightforward.
The cheapest option of the Portuguese Golden Visa Program. Support the arts or reconstruction of national heritage with at least €250,000.
Fun fact: throughout the whole life of the Portuguese Golden Visa, only one person got cultural heritage contribution-based Golden Visa. This is the cheapest option one so far. But applicants usually choose the real estate investment.
Wanna be the second lucky?
The most overlooked option. However, if you fit the bill, you could definitely save your €500,000 and still get your permanent residence.
Does the Entrepreneur option suit everyone?
This option best fits certain types of entrepreneurs. They are growing their business or running it overseas. Maybe they don't want to spend their whole time in the new country, but Portugal's Golden Visa makes it fully possible. As for the smaller scale businesses, we advise seeing the alternatives.
Make an investment of at least €500,000 in private scientific research institutions.
Golden Visa Presentation
To qualify for Portugal's Golden Visa Program, you must fulfill the following requirements:
This simply means that a Portuguese citizen or a citizen of any EU or EEA country can't make a Portugal Golden Visa application.
It was known that earlier most of the applicants were Chinese. This number has decreased since Russia, Brazil, Turkey, South Africa, and most other countries got in the game. At the same time, stats show that number of applicants from other countries (other than these five) is steadily on the rise in recent years!
If you choose a real estate investment route, as this is the most popular piece, then you should know that there are several ways. On the one hand, you can make a real estate investment as an independent individual. But on the other hand, you can be a qualifying legal entity.
Whatever you choose, it's better not to use your offshore company because of hefty transaction taxes.
Portuga's processing is more straightforward than most CBI programs. What is more, due to the COVID-19 pandemic, you can do everything online. Apply online through the Immigration and Borders Services portal, or just seek legal assistance to save yourself the hassle.
You should spend at least 14 days during the first 2 years. Then you need to renew your permit, and during the next 3 years, your stay requirement is only 3 weeks in the country. To put it simply, you can spend only 7 days per year in Portugal.
You can pay all relevant fees via the Single Collection Document.
That's all! Just do it, and become one step closer to making your dreams happen.
While some basic requirements were listed earlier, now it's time to find out who is eligible for a Portugal Golden Visa?
As the main applicant, you may extend your Portugal Golden Visa to your family. Following members can be included:
By no means Portugal is a progressive country. Another evidence is that same-sex partners can also be included in the Portugal Golden Visa application.
The Portugal government has finalized new regulations concerning Golden Visa in Portugal. The objective of recent changes is to promote urban rehabilitation and offer the investor a series of benefits for contributing to the property's renovation in return. However, the main point of Golden Visa changes is to raise investment in the low-density areas. With Lisbon and Porto thriving, Portugal wants to focus on developing the property market in other regions. This should help the Portuguese economy.
There will be a transition period to allow anyone who has applied before 2022 to finalize their applications. However, keep in mind that Portugal Golden Visa changes have already come into effect.
One of the biggest changes affected the real estate market.
Real estate changes:
The approved changes also refer to other aspects:
What Will Not Change?
The real estate changes are closely linked to understanding of the entirely new conepts — low-density and high-density areas. Knowing these terms may help you to figure out what kind of real estate you can buy and under what conditions.
Low-density and high-density areas are the most important concepts in the Golden Visa in Portugal. At least for real estate investments.
One of the reasons is that investing in property in a “low density” area means a 20% discount. So this option is cheaper.
But how can you tell whether the region you like is low-density? Let's get this sorted out!
High-density areas are those where you can buy commercial real estate to qualify for the Golden Visa in Portugal. These are big cities like Lisbon, Porto, etc.
By contrast, low-density areas are defined as the territory units with less than 100 inhabitants per square km or a GDP per capita that is 75% or less than the national average. Here you can buy both residential and commercial property. But note that residential real estate can be bought only in these regions.
Thus, there are no location restrictions for commercial real estate. However, residential property can be obtained only in low-density areas.
The most popular low-density areas in Portugal
Alentejo, Beja, Viseu, Évora, Peneda-Gerês, and the Douro Valley are popular spots among tourists, and they offer affordable property prices.
TOP interesting facts about the low-density areas
Benefits of low-density areas
You might set your sight on commercial property. Or quite the opposite.
Whatever you choose, we want to focus your attention on each option.
Important! Commercial real estate also includes the opportunity to invest in hotel shares throughout the country. You invest in apartments, make a profit, and get a residence permit in Portugal. However, you cannot become the owner of these apartments.
Also, pay attention! Investors can continue to make qualifying investment for the residential and commercial properties in Madeira and Azores.
Here you can see the full list of documents you need to apply for Portuguese citizenship. Each and every one of them is important. So study them carefully not to miss anything important.
Note! There is no such requirement in the official sources. However, sometimes SEF asks to send a more recent copy when submitting old documents
You need to provide a high-quality scan of all pages (sent to mail or chat, no need to print)
A certificate from the country of citizenship is required for all applicants over the age of 16.
A notarial form stating how many years you have been running a common household (Notarial statement + apostille).
Note! This requirement is also not listed in the official sources. However, if the marriage is not registered officially, then we recommend that you show the SEF as many documents as possible proving the joint household.
Document from a local authority stating that you have been living together for a certain time (Original document).
Note! This document is also not required officially. The alternative is a joint tenancy agreement, joint bank account, hotel reservations for the last 2 years, etc.
Notarized letter confirming financial dependence of children written by the main applicant. Examples of accompanying documents: bank statements confirming the transfer of expenses for living, education, etc (The original document for children over 18).
Documents from any bank, Portuguese or foreign, on transfers to the parent's account, pension certificate, certificate of cohabitation, etc.
Consent is given by the other parent who is not participating in the program. A sample document is sent upon request (Notarial copy + apostille).
(Notarial copy + apostille)
Consent is given by the other parent who is not participating in the program. A sample document is sent upon request.
Document guidelines
When you attach documents on the API portal, they should be in PDF format and a maximum of 4MB. In addition, the documents should be either in English or Portuguese. Otherwise, you need to send them to a certified translator and notarize this translation.
First things first. Portugal has 5 Golden Visa investment options, and each of them comes with various benefits and opportunities. Study everything thoroughly. Or consult with a licensed migration agency, such as Migronis.
A little hint: More than 90% of applicants have chosen a real estate investment. Nevertheless, try to consider all the variants.
You need to gather all the documents for yourself, as the main applicant, and for all your dependents if you have any. Remember, all documents should be translated into English or Portuguese and notarized. This task you can delegate to your lawyers, and they help alleviate the boredom of this process.
These tasks are both important for a Golden Visa application.
To proceed with the Portuguese Golden Visa, it's highly important to make a qualifying investment. At this stage, you are welcome to pay up and lock in your investment in Portugal.
If you've made a qualifying investment and done all the paperwork, you are ready to submit your pre-application online to SEF. In the majority of cases, your lawyers can do this on your behalf.
Standardly, this process takes up to 2 months from the time you submit documents.
If everything goes well, SEF will offer a set of available dates to make a biometric appointment. After that, you and your dependents need to be present physically at the corresponding SEF office. Here you'll submit your fingerprints, and this makes your application official.
Finally! You and other Golden Visa applicants (associated with the main one) can now receive Golden Visas.
Your legal representative will collect the cards and send them to you. Remember: each Portugal Golden Visa card is valid for 2 years. So you need to renew it at the end of the validity period.
At the end of a 5-year period, you are eligible to apply for Portuguese citizenship.
Apart from the Golden Visa investment, you make all necessary fees. Maybe it doesn't taste like a pound cake, but it is essential. These fees are the price you should pay to get the best of the best.
One of the things to understand is that this investment program is not built on the pay and go principle. Golden Visa is not like entering the embassy, flashing some papers around, paying a $100 fee, and that's it. It requires a bit more effort and is designated for wealthy investors.
While it all depends on your investment type, it is still safe to say that you will pay about 9%-10% of your investment in fees. The most part comes from the Property Transfer Tax (in case you are investing in real estate).
All fees are divided into government and legal.
| Government fees | When you need to pay | Amount |
| Processing Fee | At the beginning and at each renewal | €533 (+ €83.30 /dependent) |
| Initial Application Fee | Only at the beginning | q€5,325 per individual |
| Renewal Application Fee | At each renewal | €2,663 per individual |
Legal fees depend on your lawyers. These fees can be between €10,000-30,000 for a family of 4. The sum covers a five-year span. The good thing is that you don't need to pay in advance. It all depends on the completed tasks within the five years.
Portugal Golden Visa is a sizable investment, so it is always good to seek the best in the field to reduce all the risks. Migronis would be happy to guide you through all the application steps required to apply for the program successfully.
The cost of the Portugal Golden Visa is usually pegged to the investment route. And yes, Golden Visa does not come without a hefty price tag.
Here it is important to understand that Portugal Golden Visa investors are people of means who wish to be open for major world opportunities.
Portugal Golden Visa like Mercedes-Benz S-Class. And Mercedes-Benz S-Class is never cheap.
People choose it because of its quality and reliability. We don't want to drive
One way or another, the Portuguese Golden Visa cost starts from €250,000. So this is a minimum you should pay to change your life for the better.
Golden Visa is initially granted for 1 year. There are 2 renewals that happen after the 1st and 3rd years. Each renewal lasts for 2 years. After the 5th year, you can request a permanent stay, and the good news is that no extension is needed in the future. What is more, you can also request Portuguese citizenship at the end of that period.
During 2012-2021, Portugal's Golden Visa has yielded about €5.8bn EUR from 9,767 main applicants and 16,615 family members. Below are some interesting facts and stats on the Portuguese Golden Visa.
Here you can see that the highest number of applications came from:
These stats show that real estate remains the most prevalent investment option. The data was taken from the official website of Portuguese Golden Visa.
The processing time for the Golden Visa process is between 6-8 months.
The price depends on the type of investment fund you choose, as well as your number of dependents. One should also bear in mind the fees associated with investment programs. The minimum price for a Portuguese Golden Visa starts from €250,000 (not counting Portugal Golden Visa fees).
Portugal Golden Visa is valid for 5 years. But note: you should renew it after certain periods. After the 5-year period, you can either get Portuguese citizenship or a residence permit.
Unfortunately, you can't get Portuguese Citizenship-by-Investment. Portuguese Golden Visa is a five-year residence by investment program designed for non-EU citizens.
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