Portugal Golden Visa guide: how to get a residence permit and citizenship
The Portugal Golden Visa is obtained by investing at least €250,000, allowing holders to travel within the Schengen Area visa-free, move to Portugal, and claim EU citizenship.
This guide discloses the Portugal Golden Visa’s cost, benefits, investment options, and application process.
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Describes how to get a Portugal Golden Visa and benefit from it
Fact checked byAbhay Jaiswal
Reviewed byVladlena Baranova
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Portugal Golden Visa guide: how to get a residence permit and citizenship
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What is a Portugal Golden Visa?
The Portugal Golden Visa is actually a special type of Portuguese residence permit. There are several differences between usual and Golden Visas to Portugal:
Form. A Golden Visa is unlike any other visa that can be stamped on your passport. If you get a Portugal Golden Visa, you obtain a separate document: a residence permit card.
Function. Usual visas’ main function is to let you enter Portugal and stay there for a certain period. Golden Visas provide more opportunities. Portuguese Golden Visa holders get official status in the country, together with certain rights and responsibilities. For example, they can now turn to public hospitals and enter state schools and universities.
Validity. Usual visas to Portugal allow holders to stay for up to 90 days each half a year or 120 days in a row. The Portugal Golden Visa is issued for two years and lets you stay in the country for this entire period.
Way of obtaining. The Portugal Golden Visa can be obtained only by investment in the country’s economy. €250,000 is the minimum possible amount to invest.
Portugal Golden Visa in numbers
The Portugal Golden Visa program was launched in 2012. Residence permits were granted to over 12,000 investors and 20,000 members of their families.
According to the most recent data from AIMA, in 2023, Portugal issued 2,901 residence permits by investment. Of these, 1,554 were granted for family members.
The top five nationalities who obtained the most Portuguese residence permits in 2023 were:
US citizens — 567 permits;
Chinese — 306 permits;
UK citizens — 234 permits;
Brazilians — 219 permits;
Indians — 199 permits.
Since the program’s start until September 2023, the Portuguese government has attracted more than €7.3 billion of investments in total.
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9 Portugal Golden Visa benefits: why invest in Portugal
1. Travelling to the Schengen Area. The Portugal Golden Visa eliminates the necessity of getting a Schengen visa. Portuguese residence permit holders may spend up to 90 days out of 180 in other Schengen countries.
Staying in Portugal is not considered, so it is different from travelling with a Portugal Schengen visa.
If you have a Golden Visa and spend 3 months in Portugal, you can spend two months in France and another in Italy, for example. If you only have a Schengen visa and spend 3 months in Portugal, you must leave the Schengen Area and wait another 3 months to enter it again.
Countries that Portugal Golden Visa holders can enter visa-free
2. EU citizenship prospect. The Portugal Golden Visa is the first step to EU citizenship, and it is one of the fastest and easiest ways to get it by naturalisation. Portuguese residents can apply for citizenship after 5 years from the first application for a residence permit. And they can get it without moving to Portugal.
None of the EU countries allows obtaining citizenship by naturalisation earlier than in five years. The period is the same in some of them, but the terms are less attractive.
EU citizenship after 5 years of residence is available in the following countries:
Portugal — 7 days a year of mandatory residing for Golden Visa holders;
Sweden — 46 of 52 weeks a year of mandatory residing;
Belgium — 4 out of 5 years of mandatory residing, with no more than 6 months of consecutive absence.
The only exception is Malta. In this country, you can get citizenship by naturalisation for exceptional services by direct investment in 1 or 3 years. Yet, the costs start from €690,000.
For children born in Portugal, the terms are even better. A child can acquire Portuguese citizenship by birthright if at least one of his parents has held a residence permit in Portugal for more than a year. In all the other EU countries, the terms are stricter.
3. Moving to Portugal. As soon as an individual gets a Portuguese residence permit, they can move to Portugal. Or not to move: it is just a matter of personal choice, not an obligation. If moving to Portugal, one gets access to quality European education, healthcare, and food.
Investors also get to enjoy life near the Atlantic Ocean. Most popular cities are situated on the coast.
Those who prefer a warm climate like it in Portugal. In August the air temperature rises to +28°C, in January it stays at around +15°C. On average, the country gets 300 sunny days per year.
4. Low cost of living. Portugal is a popular destination among expats worldwide because it combines a high level of life and safety with relatively low living costs.
According to Numbeo, the Quality of Life Index in Portugal and France are almost the same: 168 and 166, respectively. But Portugal’s Cost of Living Index is almost 1.5 times less than France’s.
Expats from developed countries feel comfortable living in Portugal as they do not lose their living standards, and their purchasing power increases. Expats from developing countries improve the quality of their lives without a significant rise in living expenses.
5. Affordable investment options. The minimum investment amount required to get residency in Portugal is €250,000. To obtain residency in neighbouring Spain, you must invest twice as much: at least €500,000.
6. Investment profit. Foreigners who invest in investment funds units can get an annual yield of 3 to 10%.
7. Short stay requirement. To maintain the status of a Portuguese resident, Golden Visa holders must spend only 7 days per annum in the country. In comparison, holders of other types of residency must stay for at least 183 days a year in Portugal.
8. Access to Portuguese healthcare and education. For Portugal residents, state-provided healthcare is free. The country’s quality of healthcare and education meets all the EU standards.
Children of residents can enter private and public kindergartens, schools, and universities. They don’t need student visas in Portugal and other EU countries to get higher education. They are also exempt from paying tuition fees if they enter public universities. Public schools and kindergartens are also free of charge.
According to QS World University Rankings 2025, five Portuguese universities are in the top 500. The University of Lisbon is recognised as the best one in the country.
9. Friendly attitude towards foreigners. There are no special districts for foreigners in Portugal, and newcomers get integrated into Portuguese society. The locals are sympathetic and friendly people who are always ready to help. According to the Expat Insider 2024 survey, 74% of expats find the locals welcoming to foreigners.
Around 1,000,000 expats live in Portugal, making up almost 10% of the Portuguese population. The biggest expat communities are Brazilian, British, Cape Verdean, and Indian.
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Portugal is one of the safest countries in the world, ranking 7th on the Global Peace Index. In the ranking, it is above Canada and Japan
Requirements to obtain a Portugal Golden Visa
The Portugal Golden Visa program is not available to EU and EEA citizens. Citizens of other countries can participate in the investment program without restrictions.
Americans can apply for the Portuguese Golden Visa. They don’t obtain greater freedom of movement as the US passport already grants visa-free access to the Schengen Area. But they can, for example, expand their businesses to Portugal and other European countries.
British citizens lost a right to travel visa-free within the Schengen Area after Brexit in 2021. Since then, they became eligible to participate in the Golden Visa program in Portugal. UK passport holders obtain Portuguese residency for travelling across Europe and for a desirable lifestyle.
Requirements for the investor. The main applicant needs to be at least 18 years old and have legal income, valid health insurance, no debts in Portugal, and no criminal records. Money for investment must be earned outside Portugal and transferred from abroad.
The Golden Visa is available to family members. The investor can participate in the Portugal Golden Visa program alone or with their family.
A spouse is eligible for participation without an age limit.
Children under 26 can also be added to the application. Children under 18 are included without conditions, while children aged 18 to 26 should be financially dependent on the main applicant and live with them or study at a university.
Parents can take part if they are financially dependent on the investor.
The investor’s siblings can join if they are under 26 and in the investor’s custody.
Portugal Golden Visas for parents
Michael’s parents obtained residence permits in Portugal together with their son. However, Charlotte’s parents did not meet the age requirements of the Portugal Golden Visa program and were financially independent, so they were not included in the application.
However, a year later, the family of six reunited in Portugal and have lived together since then.
Portugal Golden Visa investment options
Оne can purchase investment fund units or invest in a business, science, and culture. The minimum investment amount varies from option to option.
Purchase of investment fund units. You can buy units of investment or venture funds for at least €500,000.
Fund maturity must be at least five years, and 60% of the investments must be realised in commercial companies with head offices in Portugal’s territory. The annual yield of Portuguese funds is 3—10%.
Business investment. Two options are related to investing in business:
€500,000 investment in a new or existing Portuguese company and creating at least 5 jobs.
Opening a company and creating at least 10 jobs, while the investment amount is not defined.
The form of a company must be either PLC or LLC. The investor can be a sole owner of a business or a co-owner. In the latter case, all co-owners can participate in the Portugal Golden Visa program.
After the company’s creation, the investor can hire residents of Portugal and foreigners who, before being hired, have yet to receive residency in the country. Thus, the terms of the program are suitable for those who want to move their office from another country to Portugal.
Supporting culture and science. If investors choose to support culture and art, they need to invest €250,000. This is the minimum possible investment amount under the Portugal Golden Visa program but the least popular. It is unclear whether it is possible to return the money, and choosing a suitable project is also a big deal.
Investors supporting research projects need to invest twice as much — €500,000. This option is also rarely chosen due to its complexity and expensiveness.
Portugal Golden Visa by purchasing investment fund units or business investments: what to choose
After the real estate investment option was abolished in October 2023, contribution to business and purchase of investment fund units have become the most appealing choices.
The purchase of investment fund units can be suitable for people who don’t want to engage in business activities and prefer to have their investments managed by others. This option doesn’t require applicants to control their investment as specialists do all the job.
The unit holding period is at least 5 years, and the investor receives their share of the fund profit. A full return on the investment money is possible in 6—10 years.
Business investment is a good option for people who want to open a company in the European Union and establish relationships with partners worldwide. It is also more suitable for those who plan to move to Portugal as it will allow them to control the business locally.
The tourism industry is the most popular area of business activities in Portugal. It accounts for more than three-fifths of the total economic output. Other attractive choices are:
wine production;
growing olives and citrus fruits;
production of cork tree bark;
production of meat and poultry;
manufacturing of furniture;
production of ceramics;
port logistics;
fishing.
Is it possible to obtain a Portugal Golden Visa by investment in real estate?
As of October 2023, real estate investments no longer qualify for the Portugal Golden Visa.
Previously, real estate was a popular option, with investment thresholds ranging from €280,000 to €500,000 for residential or commercial properties, including those in low‑density areas and rehabilitation projects.
The Portuguese government removed this option to address rising housing prices and improve property accessibility for local residents. While purchasing a property in Portugal is still possible for a foreigner, it no longer grants eligibility for the Golden Visa.
Portugal Golden Visa fees and other expenses
Besides direct investments, there are other cost items, notwithstanding which investment option is chosen:
an application fee — €605 per family member;
residence permit card issuance — €6,045 per family member;
health insurance — €400+ per family member;
bank account maintenance fees and other commissions — depending on the bank;
taxes and commissions.
Under the purchasing of investment fund units option, applicants pay up to 7.5% when investing and an annual commission on profits of 0.5 to 3%.
The tax on investment income for Portuguese tax residents is 14%.
Golden Visa costs comparison
Total Portugal Golden Visa investment costs calculated
Let us make a sample calculation for the most common situations.
In the table below you will find the estimated costs for a single applicant and a family of four, which consists of a husband, wife, and children of 10 and 18. In both cases we assume they invest in a Portuguese fund to get Golden Visas.
Portugal investor visa costs for a single applicant vs family of four
Required documents to obtain a Portugal Golden Visa
The essential list of documents required for applying for a Portugal Golden Visa includes the following:
a copy of a passport or another government-issued travel document;
birth certificates, if applicable;
a marriage certificate, if applicable;
evidence of entry and legal stay in Portugal;
a tax identification number of the country of residence;
documents outlining good standing with the Portuguese Tax and Customs Authority and Social Security system;
proof of healthcare coverage;
a certificate of no criminal record issued by the current country of residence;
a completed form authorising AIMA to access criminal records in Portugal;
a Sworn Statement by which the applicant declares to comply with all the minimum quantitative and time requirements for the investment activity in Portugal;
a receipt of ARI application payment;
evidence of an international and effective transfer of funds for investing.
Additional documents depend on the investment option.
When purchasing units of an investment fund, the Golden Visa applicant provides:
The document attesting the holdership of investment fund units.
The declaration issued by the holding company of the respective investment fund attesting the feasibility of the capitalisation plan, the maturity of at least five years, and the application of at least 60% of the investment in commercial companies with head office in the national territory.
For the investment in the company’s capital and creation of job positions, the following documents are required:
The company registration certificate.
Individual contracts of employment between the employer and the employees.
Certificates from the Office of Social Security and the Register of Employment Contracts for the employees.
A supporting document of the constitution of a commercial company with share capital equal to or above €500,000 and associated updated extract from the register of companies.
For investment in the arts, one provides the declaration issued by the Strategy, Planning and Cultural Assessment Office attesting to its investment nature or supporting the arts, restoring and maintaining the national cultural heritage.
Investment in research activities requires the declaration issued by a public or private scientific research institution involved in the national scientific or technological system attesting to the effective transfer of capital for research activities.
All documents must be translated into Portuguese and notarised.
How to get a NIF number and open a bank account to invest
The investor must transfer money from a Portuguese bank account. To open one, obtaining a Número de Identificação Fiscal (NIF), a tax identification number in Portugal, is required.
Obtaining a NIF number. The required documents are the following:
a passport or an ID card;
proof of residence in Portugal — for example, a utility bill under the name of the investor;
a document with a taxpayer number in the country of the applicant’s citizenship.
It might also be required to provide a certificate from your place of work indicating your position and salary.
in person at the Portuguese tax office — the process takes around an hour;
by email — in 3—5 business days;
or through a tax representative.
If you get an NIF number with the help of a tax representative, you must sign a power of attorney letter and hand it to them.
Opening a bank account. To obtain a bank account, one must go to any Portuguese bank branch in the country and provide a passport or an ID card, proof of income, and an NIF.
The process of opening a bank account can take up to a month.
How to apply for a Golden Visa in Portugal
Getting a Portugal RP by investment is complicated and takes at least 12 months. Investors are recommended to turn for legal support. There are legal companies that directly specialise in helping obtain a Portugal Golden Visa, and Immigrant Invest is one of them.
The procedure for obtaining a residence permit varies depending on the chosen option. However, some steps are mandatory for all applicants. The lawyers can perform most actions through a power of attorney on the investor’s behalf.
1 day
Preliminary Due Diligence
It helps to reduce the risks of failure to 1%. Immigrant Invest’s certified Anti‑Money Laundering officers conduct the check.
Immigrant Invest only signs an agreement with the investor once the check is passed and both lawyers and the investor are aware of the chances and risks.
It helps to reduce the risks of failure to 1%. Immigrant Invest’s certified Anti‑Money Laundering officers conduct the check.
Immigrant Invest only signs an agreement with the investor once the check is passed and both lawyers and the investor are aware of the chances and risks.
1—2 weeks
Selection of an investment option
Depending on the option, the investor needs to choose a fund, a company, or a project. It is possible to do it remotely with the help of our lawyers: they can send reports and other information needed.
Depending on the option, the investor needs to choose a fund, a company, or a project. It is possible to do it remotely with the help of our lawyers: they can send reports and other information needed.
1—1.5 months
Trip to Portugal
Some steps can be performed only in person. On their trip to Portugal, the investor needs to open a bank account, get an individual taxpayer number, and draw up a power of attorney for their lawyer.
Some steps can be performed only in person. On their trip to Portugal, the investor needs to open a bank account, get an individual taxpayer number, and draw up a power of attorney for their lawyer.
2—3 weeks
Fulfilment of the investment condition
The investor transfers money and obtains the required documents. For example, in the case of investment fund unit purchase, it is the confirmation of transfer and the agreement with the fund.
The investor transfers money and obtains the required documents. For example, in the case of investment fund unit purchase, it is the confirmation of transfer and the agreement with the fund.
5—6 months
Collection of documents and application
The investor gets an individual list of documents from the lawyers to prepare. Then, the applicant has the relevant state form filled in and documents translated and certified.
Electronic copies of documents are sent for consideration to the AIMA, the Agency of Integration, Migrations, and Asylum.
The investor gets an individual list of documents from the lawyers to prepare. Then, the applicant has the relevant state form filled in and documents translated and certified.
Electronic copies of documents are sent for consideration to the AIMA, the Agency of Integration, Migrations, and Asylum.
1—2 weeks
Submission of biometric data
The investor and their family come to Portugal to submit original documents and their biometric data for residence permit cards. The appointment for fingerprinting must be booked in advance in the electronic register.
The investor and their family come to Portugal to submit original documents and their biometric data for residence permit cards. The appointment for fingerprinting must be booked in advance in the electronic register.
6—8 months
Due Diligence
When original documents and biometrics are submitted, AIMA starts the Due Diligence check. In case of approval, AIMA issues a confirmation document that can be used to live in Portugal until residence permit cards are ready.
When original documents and biometrics are submitted, AIMA starts the Due Diligence check. In case of approval, AIMA issues a confirmation document that can be used to live in Portugal until residence permit cards are ready.
2 weeks
Obtaining residence permit cards
When approval is received, the investor pays the fee for residence permit cards. They are prepared within two weeks and issued personally to the investor or their lawyer by proxy.
When approval is received, the investor pays the fee for residence permit cards. They are prepared within two weeks and issued personally to the investor or their lawyer by proxy.
Every 2 years
Residence permits renewal
Residence permit cards have to be renewed every two years. The procedure is similar to the initial application: investors need to collect the same documents and submit them electronically, submit biometrics and originals, and apply for an extension of the status 30—90 days before the expiration of their Golden Visa.
The Institute of Registries and Notary extends residence permits. The application is usually considered within 3 weeks. The mandatory cost of processing this application is €3,196 per person.
To maintain a residence permit, the investor and their family must spend at least seven days a year in Portugal. Investors also need to keep their investments.
Residence permit cards have to be renewed every two years. The procedure is similar to the initial application: investors need to collect the same documents and submit them electronically, submit biometrics and originals, and apply for an extension of the status 30—90 days before the expiration of their Golden Visa.
The Institute of Registries and Notary extends residence permits. The application is usually considered within 3 weeks. The mandatory cost of processing this application is €3,196 per person.
To maintain a residence permit, the investor and their family must spend at least seven days a year in Portugal. Investors also need to keep their investments.
Changes to the Portugal Golden Visa program
The Portugal Golden Visa requirements were changed in October 2023. The changes concern investment options, application authorities, and fees.
Investment options. The Portuguese government cancelled three investment options: purchasing a new property for €500,000, purchasing a property for restoration for €280,000 or €350,000, and opening a bank deposit or purchasing securities for €1,500,000.
Application authorities. The SEF agency that reviewed Golden Visa applications has been disbanded since October 2023. Now, applications for residence permits are submitted to the Agency for Integration, Migrations, and Asylum — AIMA.
Existing residence permits are extended via the IRN — the Institute of Registries and Notary.
Government fees for obtaining a residence permit. The fee for a residence permit card is now €6,045 per person instead of €5,812, and the application fee is €605 per person instead of €582.
Comparison of Portugal’s Golden, D7, and Digital Nomad Visas
Besides the Portugal Golden Visa, the country offers two more programs for wealthy individuals.
The D7 visa is granted to foreigners with a passive income of at least €870 per month from outside Portugal. Allowed types of income are pensions, capital gains, and rental income.
The Digital Nomad Visa is designed for financially independent persons who work remotely and earn at least €3,480 per month.
In both cases, foreigners must rent or buy real estate to live there.
Comparing Portugal Golden Visa vs D7 Visa vs Digital Nomad Visa
Portugal Golden Visa compared to other EU Golden Visas
At first glance, most EU residency by investment programs offer the same benefits: visa‑free travel to the Schengen Area, the prospect of EU citizenship, and the possibility of returning the investment in several years.
But there are essential differences between Portugal and other countries’ Golden Visas.
The Spain Golden Visa requires commitment. If one wants to refund their investment, they must move to Spain. The minimum investment in real estate is €500,000.
Spain doesn’t allow having more than one passport, so if foreigners wish to obtain Spanish citizenship, they must wait 10 years and renounce their first one.
The Portugal Golden Visa is a more universal solution: it suits those who wish to relocate to Portugal or visit the country for several days a year. The investment path to citizenship is shorter and less demanding: investors can get Portuguese passports without moving to the country or renouncing their first citizenship.
Comparison of Spain and Portugal’s Golden Visas
The Italy Golden Visa can be attractive for those who want to obtain citizenship. By contrast with Spain, this country allows its citizens to have two passports.
Italy offers supporting startups and Italian companies, the purchase of government bonds, and charitable donations as investment options.
Investors who obtain a Golden Visa in Italy can apply for a special tax regime if they spend at least 183 days per year in the country. They pay an annual tax of €100,000 for themselves and an additional €25,000 for every family member. In this case, the investor is exempt from taxes on global income.
As opposed to Italy, Portugal has dismissed their special tax regime.
Comparison of Italy and Portugal’s Golden Visas
Cyprus Permanent Residency is a good choice for people who want to obtain a status for life.
One of the Cyprus residency benefits is low taxes. There are no taxes on global income and inheritance, and corporate tax is one of the lowest in Europe — 12.5%. Local income is taxed at the rate of 0 to 30%.
It is possible to purchase real estate to qualify for the Cyprus Golden Visa. However, Cypriot permanent residents can’t travel across the Schengen Area visa-free.
Comparison of Cyprus and Portugal’s Golden Visas
The Greece Golden Visa can be suitable for people who want to buy property. They can rent real estate out if they want to live in another country.
Greece also offers a special tax regime for tax residents. Under it, investors pay a flat tax of €100,000 on their global income and an additional €20,000 for every family member. The special tax regime is attractive as global income can be taxed up to 45% without it.
Comparison of Greece and Portugal’s Golden Visas
The Malta Permanent Residence Programme is an excellent option for people who don’t want to buy real estate but prefer to rent it.
A foreigner must rent or buy real estate to get a Malta permanent residence by investment. Expenses are:
€14,000+ per annum — if a property is rented;
€375,000+ — if real estate is purchased.
Other mandatory payments for the MPRP are an administrative fee of €50,000, a contribution fee of €30,000 if buying a property or €60,000 if renting one, and a charitable donation of €2,000.
Another obligatory requirement is to prove having financial assets of at least €500,000, where €150,000 are liquid financial assets.
Maltese permanent residency is granted for life, and it isn’t required to live in Malta to maintain it. Obtaining the Malta Golden Visa also takes less time than the Portugal Golden Visa.
Comparison of Malta and Portugal’s Golden Visas
How to prepare for relocation and move to Portugal
Moving to Portugal involves several steps, varying depending on your situation, such as your nationality, reasons for moving, and financial status.
Research and plan. Research different regions in Portugal to find one that suits your lifestyle and budget. Consider visiting Portugal before moving to get a feel for different areas.
Portugal is divided into several distinct regions, each with its own unique cultural and geographical characteristics:
North is known for its cultural heritage and historical cities, such as Porto, it’s also the birthplace of Port wine.
Central is known for its diverse landscapes, including mountains, beaches, and the Serra da Estrela, the highest mountain range in mainland Portugal; the most notable city is Coimbra, a historic university town.
Lisbon is the capital region encompassing the city of Lisbon, offers a mix of modern and historical attractions such as the Belem Tower and Jeronimos Monastery.
Alentejo is known for its traditional rural lifestyle, wine and cork production, and historic cities such as Évora.
The Algarve is located in southern Portugal and renowned for its beautiful beaches, golf resorts, and lively towns such as Faro, Lagos, and Albufeira. It is a popular destination for tourists and expatriates, especially for its mild climate.
The Azores Autonomous Region is an archipelago in the middle of the Atlantic Ocean known for its stunning landscapes, volcanic activity, and rich marine life.
The Madeira Autonomous Region is another Atlantic archipelago closer to Africa than Portugal, famous for its lush landscapes, unique flora, and Madeira wine.
Make a financial plan. Ensure you have sufficient funds for your move and initial living expenses. The required sum of money depends on the chosen city. Generally, having at least €680 per month without housing rent is enough. In Lisbon, an individual needs at least €745 per month, while in Coimbra, it is around €650 for the same period.
Find accommodation. Decide whether to rent or buy property. It’s often helpful to rent first to get a sense of the area before committing to a purchase.
Logistics. Organise your move, including shipping belongings and arranging travel for yourself and your family. If you plan to drive, learn the requirements for driving in Portugal and find out whether you need to exchange your driver’s licence.
Banking. Open a Portuguese bank account and learn the tax implications of living in Portugal. Major banks in the country are Caixa Geral de Depositos, Millennium BCP, Novobanco, Banco Santander Totta, and Banco Portugues de Investimento.
Cultural adjustment. Be prepared for a period of cultural adjustment. To help with it, engage with local communities and expat groups to build a support network. Learning Portuguese will help you integrate more fully into the community.
Expenses on living in Portugal
The most expensive Portuguese cities are Lisbon, Porto, and Coimbra.
Housing. The cost of housing depends on the city. Lisbon is the most expensive part of Portugal, and renting a one-bedroom apartment there costs €1,000—1,400.
One can rent the same apartment in Porto for €800—1,000. A three-bedroom apartment in Porto’s city centre costs around €1,800, almost the same as an apartment outside the centre of Lisbon.
The purchase price for a square metre in Coimbra is two times lower than in Lisbon — €2,600 and €6,400 for an apartment in the city centre, respectively.
Utilities. Portuguese residents pay around €90—120 for two- or three-bedroom apartments. The bills include electricity, heating, cooling, water, and taking out garbage. The Internet costs €30 to 40 per month.
Groceries. A food basket consisting of a litre of milk, a loaf of bread, 12 eggs, 1 onion, 1 kilogram of rice, chicken fillets, beef, and local cheese costs €35. The price for a bottle of mid-range wine is €5. One person spends around €10 in an inexpensive restaurant or cafe.
Transportation. The regular price for a monthly pass is €40, while a one-way ticket is around €2. A ticket valid for 24 hours costs from €7 to €11.
The price for a litre of gasoline is €2.
The rate for taxi starts at around €3 and is calculated based on the trip’s distance. The standard tariff for 1 kilometre is €0.90.
Healthcare. Public healthcare is available for all legal residents in Portugal but is not always free. For example, a house call costs €10 and visiting an emergency room is €10—20. Private healthcare is more expensive. Having an appointment with a doctor may cost €40—60.
Health insurance is a must for Golden Visas holders. Its price depends on an insured person’s age and health condition and may reach €1,200+ per a senior couple.
Example of monthly expenses on living in Lisbon
Portuguese tax system
Income tax for Golden Visa holders. If Golden Visa holders spend less than 183 days in Portugal, they are not considered tax residents, so only income they earn in Portugal is taxed in the country. Otherwise, the tax is levied on the worldwide income.
Portuguese tax residents pay income tax on a progressive scale of 13 to 48%. Non-residents are charged at a flat rate of 25%.
Real estate tax. All who buy, own, or sell property in Portugal must pay taxes.
Property transfer tax, or IMT, is paid once when buying real estate. For residential real estate, it is calculated according to the progressive scale of 0 to 7.5% of the property value. Commercial properties are taxed at a flat rate of 6.5%. A stamp duty of 0.8% of the property value should also be paid.
Annual property tax, or IMI, ranges from 0.3% to 0.8% of the real estate value.
The tax for capital gain can be charged when selling a property. Its rate is 28%. If the seller is a Portuguese tax resident, only half of their profit from the transaction is taxed.
The corporate tax rate is 21%.
There is also a municipal surtax of up to 1.5% levied on taxable profits and a state surtax. Rates of state surtax depend on the profit:
3% on taxable profits exceeding €1,500,000 up to €7,500,000;
5% on taxable profits exceeding €7,500,000 up to €35,000,000;
9% on taxable profits exceeding €35,000,000.
The VAT rate depends on the region. In the mainland, it is 23%; in Madeira, it is 22%; in Azores, it is 16%.
How to get Portugal permanent residency
An investor holding a Portugal Golden Visa for five years can apply for permanent residency. However, this stage is optional and can be skipped in favour of applying directly for citizenship.
To obtain permanent residency in Portugal, one needs to meet four requirements:
have no criminal record;
confirm the ability to pay;
rent or own housing in Portugal;
pass the basic test in Portuguese.
Investors may choose permanent residency instead of citizenship if their home country does not allow dual citizenship.
How to obtain Portugal citizenship
To obtain a Portugal passport, one needs to live in the country on the basis of a residence permit or permanent residence for at least five years, prove no criminal record and have an A2 level of Portuguese. The application fee for applying for Portugal citizenship is €250.
Portugal allows dual citizenship, so foreigners do not have to renounce their first one.
Citizenship application processing usually takes about seven months. The whole process, from filling out the papers to receiving Portugal ID cards, takes up to a year.
Timeline of obtaining Portuguese citizenship by investment
Applying for a Portugal Golden Visa
Obtaining Portuguese residence cards
First renewal of residence permits
Second renewal of residence permits
Applying for citizenship or permanent residency
Receiving a passport
Year 1—2. Investors must renew their residence permit every two years until they obtain permanent residency or citizenship.
To qualify for renewal, Portugal Golden Visa holders must:
maintain their investments;
spend at least 7 days per year in Portugal;
pay taxes, if applicable;
have no criminal record;
hold valid health insurance;
be registered in Portugal, that is, own or rent housing.
Investors must collect documents and submit biometric data for each renewal. The renewal application should be submitted 1—3 months before the permit expires. Processing takes about 3 weeks.
The application is submitted along with the following documents:
Portuguese residence permit card;
passport;
two passport-size photos;
proof of a residential address in Portugal;
proof of financial solvency;
completed form authorising AIMA to access criminal records in Portugal;
tax payment information.
Year 3—4. Investors continue to meet Golden Visa requirements and renew their residence permit.
Year 5+. After five years of residency, investors can apply for citizenship.
Where to apply for citizenship. Investors can sign up to apply for citizenship at the registry office at the place of residence.
They can also apply for citizenship in person at:
the offices of the National Center for the Integration of Immigrants (Centro Nacional de Apoio à Integração de Migrantes) in Lisbon and Porto;
registration centers of the Institute of State Registration and Notaries (Instituto dos Registos e Notariado, IRN);
consulates and representations of Portugal in other countries.
If an in-person application is not possible, documents can be sent by mail to the Central Registry Office — Conservatória dos Registos Centrais.
When applying in person, investors sign the application form in the presence of a responsible officer of the Portuguese Migration Service. If applying by mail, they must sign the form in front of a notary beforehand.
Language requirements. Applicants must prove Portuguese proficiency at A2 level under the Common European Framework of Reference for Languages, CEFR.
Portuguese proficiency can be confirmed with:
a certificate of passing the state Portuguese test;
a certificate of proficiency in Portuguese as a foreign language;
a diploma or certificate from a public or private educational institution in a Portuguese-speaking country.
State Portuguese test is conducted by appointment. The fee is €15 if taken in Portugal and €20 if taken abroad at a Portuguese consulate.
Exam for certificate of proficiency in Portuguese, or the Certificado Inicial de Português Língua Estrangeira (CIPLE) costs €72 and is administered by the certified center — Centro de Avaliação de Português Língua Estrangeira — which is recognised by the Portuguese Ministry of Education.
A diploma or school certificate from Portugal, Angola, Brazil, Guinea-Bissau, Cape Verde, Mozambique, São Tomé, or Príncipe is accepted. If the applicant has not yet graduated, a certificate from the educational institution may be submitted instead.
Children under 12 do not have to take a language test. Older children studying Portuguese in school may also be exempt.
Required documents. To apply for Portugal citizenship, investors must provide:
identity document, such as Portugal residence permit card;
birth certificate;
certificate of no criminal record from all countries where the applicant has lived for more than a year;
certificate of Portuguese language proficiency;
completed citizenship application form.
There is no need to submit proof of residency. The migration service verifies residence permit records and compliance with residency requirements.
Obtaining period. The application process takes about seven months and consists of seven stages.
Document submission. The application is forwarded to the Central Registry Office within 48 hours. If sent by mail, delivery may take longer.
Preliminary verification. The office checks the documents within 30 days. Missing documents must be submitted within 20 days.
Background checks. The authorities verify legal residence in Portugal and the absence of a criminal record. This process usually takes 30 days but may extend to 90 days in urgent cases.
Final review. The Central Registry Office makes a decision within 45 days. If rejected, the applicant has 20 days to provide additional documents.
Minister of Justice’s decision. Regardless of the registry office’s recommendation, the Minister of Justice has up to 90 days to make the final decision.
Notification of approval. If the application is approved, the National Archives of Portugal informs the applicant through their provided contact details.
Issuance of ID card. The Portugal citizen ID card is produced in about two weeks and sent by mail.
A Portuguese passport allows visa-free entry to over 170 countries. While a Portugal citizen ID card is sufficient for travel within the Schengen Area, a passport is required for trips to countries outside the region, such as the UK, USA, and Australia.
A passport application can be submitted at Lojas de Cidadão, a local government service centre. The nearest branch’s address and opening hours can be found on the Portuguese public services portal.
Documents do not need to be collected: to obtain an international passport, it is enough to provide an ID-card of a Portuguese citizen. The applicant is photographed at the Lojas de Cidadão branch. Fingerprints and a signature sample are collected.
The fee for the issuance of a passport is €65. Another €10 must be paid for the delivery of the finished passport to an address within Portugal. Sending a passport abroad is more expensive — from €30.
The standard passport processing time is 5 working days. If applicants pay an extra €20, the passport will be ready in two working days using the express passport issuance service. Urgent service for one business day is available for an additional fee of €30.
Summary on the Portugal Golden Visa
The Portugal Golden Visa is a residence permit granted to foreigners in return for investment in the country’s economy.
As of 2025, possible investment options include purchasing investment fund units, investing in a business and creating 5 jobs, opening a company and creating 10 jobs, investing in art or cultural heritage, and investing in research projects.
The option featuring the minimum investment amount is an investment in culture: one needs to pay €250,000 for it.
The investor is not obliged to live in the country to maintain residency. The main requirement is to stay in Portugal for at least 7 days yearly.
The investor can apply for Portugal citizenship five years after obtaining a residence permit.
Immigrant Invest is a licensed agent for citizenship and residence by investment programs in the EU, the Caribbean, Asia, and the Middle East. Take advantage of our global 15-year expertise — schedule a meeting with our investment programs experts.
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