Portugal Golden Visa guide: latest updates & rules on how to get a residence permit and citizenship

The Portugal Golden Visa is actually a special type of Portuguese residence permit. There are several differences between usual and Golden Visas to Portugal:

1. 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.

2. 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.

3. 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. 

4. 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.

Launched in 2012, Portugal’s Golden Visa program has since become one of Europe’s most successful residence-by-investment initiatives. To date, it has awarded residency to over 12,000 primary applicants and more than 20,000 of their family members.

In 2023, according to AIMA, 2,901 residence permits were issued, including 1,554 to family members. The pace quickened sharply in 2024, reaching 4,987 Golden Visas — a striking 72% annual increase.

The demographic spread reveals a consistent pattern: Chinese nationals top the list, trailed by investors from Brazil, Turkey, and South Africa. North American and the British increasingly favour the investment fund route.

Meanwhile, the Cultural Heritage option has emerged as an unlikely star. In 2024, it attracted €12 million — up 165% from €4.5 million in 2023. Since its modest debut in 2020, the option has drawn nearly €22.15 million.

Overall, the Golden Visa has funnelled over €7 billion into the Portuguese economy.

1. Family safety net. Portugal’s Golden Visa does more than offer residence to the main applicant. It casts a wider protective net — spouses, dependent children under 26, and even parents of any age can be included. 

All enjoy the rights to live, study, and access healthcare in Portugal, anchoring the family in one of Europe’s most stable and secure environments.

2. Optional relocation. Obtaining a Portuguese residence permit opens the door to Europe — literally. But you don’t have to walk through it. Residency doesn’t require full-time living in Portugal; a mere 7 days per year is enough to maintain your status. That said, many investors do relocate, drawn by Portugal’s quality of life.

Life here means access to the Atlantic coastline, where most major cities are set against sunlit shores. The climate is another enticement: summers reach a pleasant +28°C, while winters linger at a mild +15°C. With around 300 days of sunshine annually, Portugal ranks high on the list for those seeking year-round brightness and comfort.

3. Effortless Schengen travel. The Portugal Golden Visa simplifies mobility. It spares you the bureaucracy of applying for Schengen visas — your residence permit allows travel across the entire Schengen Area for up to 90 days in any 180-day span, with Portugal’s days excluded from the tally.

This distinction matters. A regular Schengen visa treats Portugal like any other country in the zone; time spent there chips away at your 90-day limit. But with a Golden Visa, you can stay 3 months in Portugal, then still enjoy 2 months in France and 1 in Italy — uninterrupted. 

4. Access to healthcare. For Portuguese residents, state healthcare is free at the point of delivery — a key pillar of social security. Portugal’s healthcare system meets all EU standards and ranks 20th globally in the 2024 CEOWORLD magazine index. This recognition reflects robust infrastructure, skilled professionals, and reliable access to care for both locals and legal residents.

5. Access to education. Children of Portuguese residents can enrol in both public and private kindergartens, schools, and universities. Public institutions, including early childhood education, are free. Higher education offers a distinct advantage: residents don’t need student visas to study in Portugal or elsewhere in the EU.

That said, Portugal’s academic reputation is solid: 5 of its universities rank in the global top 500, with the University of Lisbon at the forefront, according to the QS World University Rankings 2025.

6. Сulture of inclusion. Portugal stands out for its warmth toward newcomers. Foreigners aren’t sidelined into special districts; instead, they become part of the social fabric. The Portuguese are widely seen as kind and helpful — a view backed by the Expat Insider 2024 survey, where 74% of expats described the locals as welcoming.

More than 1 million expats — roughly 12% of the population — now call Portugal home. Communities from Brazil, Angola, the UK, Cape Verde, and India have all found a footing here. Integration is not just policy; it’s practice.

7. Low cost of living. Portugal strikes an appealing balance: European standards of safety and quality of life, without the European price tag. According to Numbeo, Portugal and France score nearly identically on the Quality of Life Index — 168 versus 169 — but Portugal’s cost of living is about 40% lower.

This disparity makes Portugal attractive across the economic spectrum. Expats from wealthier nations find they retain their lifestyle while gaining purchasing power. Those from developing countries often experience a marked improvement in quality of life — without a dramatic increase in daily costs.

8. Affordable entry point. Residency by investment in Portugal begins at €250,000 via the cultural heritage route. Unlike business or fund options, this donation is a one-time commitment: no maintenance fees, no ongoing costs. The funds go directly to preserving historical buildings, supporting local museums, or co-financing film and art projects — making the investment not only financially efficient but culturally meaningful.

9. Real returns on funds. For those seeking yield, Portugal’s regulated investment funds offer a practical alternative. Annual returns range between 3 and 10%, depending on the strategy. The minimum holding period is 5 years, and capital is usually returned within 5 to 12 years. Earnings, minus management fees, are distributed to investors.

Discover the benefits of the Portugal Golden Visa and a unique way to EU citizenship

10. Minimal presence required. One of the Portugal Golden Visa’s most distinctive features is how little time it demands of its holders. Maintaining resident status requires a mere 7 days in Portugal per year. In contrast, standard residency holders must remain in the country for at least 8 months annually.

11. Path to EU citizenship — without relocation. The Golden Visa isn’t just a residence permit; it’s a bridge to one of the most powerful passports in the world. After 5 years of holding resident status, applicants can naturalise as Portuguese citizens — even if they’ve never moved to Portugal. This is among the most accessible routes to EU citizenship.

The terms are especially favourable for the next generation. A child born in Portugal automatically qualifies for citizenship if one parent has held a residence permit for more than a year. No other EU country offers a lower threshold.

Across Europe, the timeline to naturalisation is rarely shorter than 5 years. But Portugal’s terms are uniquely lenient in what that time entails. Consider the contrast:

• Portugal — just 7 days per year in-country for Golden Visa holders;

• Sweden — 46 weeks of residence each year;

• Belgium — 4 out of 5 years of mandatory residing, with no more than 6 months of consecutive absence.

Malta is the sole exception, offering citizenship by naturalisation for exceptional services by direct investment in 1 or 3 years. However, the price tag starts at €690,000, making it far less accessible.

The Portugal Golden Visa program excludes citizens of EU and EEA countries — but welcomes applicants from the rest of the world. There are no restrictions on nationality beyond that basic rule.

US citizens are eligible. While the American passport already grants visa-free access to the Schengen Area, the Golden Visa offers more than travel perks. It enables business expansion into Portugal and broader access to EU markets, plus a route to eventual citizenship and lifestyle relocation.

British citizens have been reclassified as non-EU nationals since the UK’s formal exit from the EU in 2021, making them also eligible for the Portugal Golden Visa. Many now pursue it not just to regain long-term access to the EU, but to secure residency in a country known for its mild climate, stable institutions, and high quality of life.

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. 

Farid and Sabina,

Owner of a fintech company and a housewife

Portugal Golden Visas for clients awaiting US residency

Farid and Sabina, a couple from Azerbaijan, wished to expand their business and build a future in the US. But reality proved slower than expected: the US residency process could take up to 10 years. Political uncertainty and the looming risk of deportation only deepened their doubts.

That’s when the spouses turned to Immigrant Invest. Our team introduced them to the Portugal Golden Visa, a faster and more secure path to residency. It offered something the US couldn’t: speed and stability.

With our lawyers handling every detail, Farid and Sabina received their Portuguese residence permits in record time — nearly 10 times faster than the US process. Today, they enjoy life in a safe, business-friendly environment, with full freedom to travel across the EU.

Learn a case

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 is 5—12 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 starts at 2% for low-risk funds and can reach up to 20% for high-risk ones.

Business investment. Two options are related to investing in business:

1. €500,000 investment in a new or existing Portuguese company and creating at least 5 jobs. 

2. 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. Among the Portugal Golden Visa options, supporting culture and the arts stands out for its accessibility. At €250,000, it offers the lowest investment threshold under the programme. 

The contribution is one-time and non-refundable — there’s no financial return in the traditional sense. Still, investors may benefit from tax relief. Specifically, 25% of the donation may be deducted from Portuguese personal income tax (IRS), up to a limit of 15% of the total tax due. 

For those inclined toward scientific or technological advancement, another option exists: supporting research projects. But this route requires a €500,000 investment — twice the cultural donation — and is rarely selected. Its higher cost and administrative complexity make it less appealing to most investors.

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.

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 5—12 years.

Business investment is a good option for people who want to open a company in the EU 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.

General fees. Regardless of which Golden Visa route you choose — be it cultural donations, business, or investment funds — several other expenses apply:

• 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.

When applying via the investment fund route, for example, applicants bear several fees. These include subscription fees of 0 to 3.5%, and annual management fees ranging from 0.2 to 2.5%. These costs are embedded in the fund’s pricing and reflected in the unit value, meaning investors don’t see separate line-item charges.

In addition, a performance fee of 20 to 50% may apply — but only if the fund generates returns above a predefined benchmark, known as the Hurdle Rate. Typically set between 3.5 and 8%, the Hurdle Rate ensures that fund managers are rewarded only when they exceed a minimum threshold of performance, aligning their interests with those of the investor.

Total costs calculated. To better understand Portuguese Golden Visa costs, let’s look at a sample calculation for the most common scenarios.

The table below outlines the estimated expenses for both a single applicant and a family of four, which consists of a couple with children aged 10 and 18. In both examples, the investment is made through a qualifying Portuguese fund under the Golden Visa program.

The essential list of documents required for applying for a Portugal Golden Visa includes the following:

• copy of a passport or another government-issued travel document;

• birth certificates, if applicable;

• marriage certificate, if applicable;

• evidence of entry and legal stay in Portugal;

• 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;

• certificate of no criminal record issued by the current country of residence;

• completed form authorising AIMA to access criminal records in Portugal;

• Sworn Statement by which the applicant declares to comply with all the minimum quantitative and time requirements for the investment activity in Portugal;

• 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:

1. The document attesting the holdership of investment fund units.

2. The declaration issued by the holding company of the respective investment fund attesting the feasibility of the capitalisation plan, the maturity of at least 5 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:

1. The company registration certificate.

2. Individual contracts of employment between the employer and the employees.

3. Certificates from the Office of Social Security and the Register of Employment Contracts for the employees.

4. 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.

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:

• passport or an ID card;

• proof of residence in Portugal — for example, a utility bill under the name of the investor;

• 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.

A NIF number can be obtained:

• 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. With the assistance of Immigrant Invest, this process can be completed remotely, without the need to travel to Portugal.

The process of opening a bank account can take up to a month.

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 €5,340, and the application fee is €605 per person instead of €533.

Rising demand. Interest in Portugal’s residency program is expected to grow steadily in 2025, particularly from investors in North America and the United Kingdom. Meanwhile, demand from Asia — led by China — is projected to remain stable.

Investment fund route gains ground. The fund-based path to residency is attracting a growing share of applicants. The Portugal Pathways 2025 Golden Visa Investment Fund Index now tracks more than 30 CMVM-regulated funds specifically designed for residency-by-investment. Updated quarterly, the index compares funds across key metrics: investment strategy, projected internal rate of return (IRR), fee structures, risk exposure, and downside protections.

This level of transparency is rare among residency-by-investment programmes worldwide. For foreign investors, regulated funds offer a stable, institutionally managed, and government-endorsed route to EU residency.

Application reform on the horizon. Portugal’s immigration system has struggled to keep pace with demand. Long delays have left many applicants in bureaucratic limbo. In response, the government plans to modernise the process: digital submission portals, electronic scheduling for biometrics, and streamlined case handling are all on the agenda.

According to Portuguese media, these reforms aim to improve efficiency of the Portugal residence by investment program, reduce backlogs, and attract more foreign investors by making the application process more predictable and user-friendly.

Tax incentives. Until recently, Portugal’s Non-Habitual Resident, or NHR, tax regime was a key draw for foreign professionals and retirees. It offered a flat 20% income tax rate for 10 years — substantially below the standard rates. But as of January 1st, 2024, the NHR regime has been officially abolished. New residents are no longer eligible for this benefit.

An alternative to the NHR is the new IFICI+ tax program, introduced by the Portuguese government a year after the NHR’s cancellation. This initiative is designed to support scientific research and innovation.

Albert Ioffe,

Legal and Compliance Officer, certified CAMS specialist

Portugal Golden Visa investors may also benefit from the IFICI+ tax regime, provided they meet the required professional and activity criteria.

Eligibility is limited to a defined list of professions, including:

• executive and managing directors;

• specialists in physical sciences, mathematics, engineering, and technology;

• industrial product and equipment designers;

• medical doctors;

• university and higher education lecturers;

• information and communication technology professionals.

Qualifying individuals enjoy a 20% flat income tax rate and, in some cases, a 0% rate on capital gains and dividends — both for up to 10 years. This makes IFICI+ a compelling option for skilled professionals looking to combine EU residency with long-term tax efficiency.

Proposed reforms to Portugal’s citizenship law. Portugal’s citizenship by naturalisation rules — long seen as among the EU’s most accessible — may soon face tightening. Two political blocs, the centre-right AD coalition and the nationalist Chega party, have introduced proposals currently under parliamentary review. Both aim to reshape the balance between legal residency and genuine integration.

The AD coalition has recommended stricter physical presence requirements for Golden Visa holders seeking citizenship. At present, applicants must spend only 7 days per year in Portugal to maintain residency. Under the proposed reform, applicants would need to demonstrate a more sustained physical presence — emphasising integration over minimal compliance.

Chega introduced a comprehensive citizenship bill with a stronger nationalist orientation. Key proposals include:

1. Children born in Portugal would gain citizenship only if one parent has legally resided in the country for at least 10 years, ending eligibility after just 1 year of residence.

2. The standard naturalisation period would be extended from 5 to 10 years.

3. A new integration and citizenship test would be introduced, assessing knowledge of Portuguese history, culture, and national values.

If approved, these changes to Portugal Golden Visa and citizenship regulations would reinforce the importance of long-term residence and deeper social ties within Portugal.

Besides the Portugal Golden Visa, the country offers two more residency routes 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.

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 Greece Golden Visa is especially well-suited to those looking to acquire real estate. Investors are free to rent out their property, even if they choose to reside elsewhere — allowing them to generate passive income without committing to local living.

Greece also offers a preferential tax regime for those who become tax residents. Under this regime, investors pay a flat tax of €100,000 on their global income, plus €20,000 per dependent. Without this option, global income could be taxed at rates of up to 45%.

The Italy Golden Visa can be appealing to those who wish to include children of any age in their application. However, the children must be unmarried, have no children of their own, and be financially dependent on the main applicant.

Italy offers supporting startups and Italian companies, the purchase of government bonds, and charitable donations as investment options. 

Golden Visa holders in Italy can access a special tax regime — but only if they spend at least 183 days per year in the country. Under this arrangement, investors pay a flat annual tax of €200,000 on foreign income, plus €25,000 for each additional family member. In return, they are exempt from regular taxation on global income.

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%, while foreign pension income received by a Cyprus tax resident is taxed at a flat rate of 5%.

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.

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, or a minimum of €650,000 in total assets, including €75,000 in liquid financial assets.

Maltese permanent residency is granted for life, and it isn’t required to live in Malta to maintain it. Obtaining Maltese PR also takes less time than the Portugal Golden Visa.

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:

1. North is known for its cultural heritage and historical cities, such as Porto, it’s also the birthplace of Port wine.

2. 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.

3. 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.

4. Alentejo is known for its traditional rural lifestyle, wine and cork production, and historic cities such as Évora.

5. 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.

6. 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.

7. 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.

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 almost 2.5 times lower than in Lisbon — €2,600 and €6,200 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 €1.70. 

The rate for taxi starts at around €3.50 and is calculated based on the trip’s distance. The standard tariff for 1 kilometre is €1.

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.

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%.

An investor holding a Portugal Golden Visa for 5 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.

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 5 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 7 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

1

Applying for a Portugal Golden Visa

2

+ 12+ months

Obtaining Portuguese residence cards

3

+ 2 years

First renewal of residence permits

4

+ 2 years

Second renewal of residence permits

5

+ 1 year

Applying for citizenship or permanent residency

6

+ 7—12 months

Receiving a passport

1

Applying for a Portugal Golden Visa

2

+ 12+ months

Obtaining Portuguese residence cards

3

+ 2 years

First renewal of residence permits

4

+ 2 years

Second renewal of residence permits

5

+ 1 year

Applying for citizenship or permanent residency

6

+ 7—12 months

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 5 years of residency, investors can 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:

• certificate of passing the state Portuguese test;

• certificate of proficiency in Portuguese as a foreign language;

• 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 7 months and consists of 7 stages.

1. Document submission. The application is forwarded to the Central Registry Office within 48 hours. If sent by mail, delivery may take longer.

2. Preliminary verification. The office checks the documents within 30 days. Missing documents must be submitted within 20 days.

3. 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.

4. Final review. The Central Registry Office makes a decision within 45 days. If rejected, the applicant has 20 days to provide additional documents.

5. 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.

6. Notification of approval. If the application is approved, the National Archives of Portugal informs the applicant through their provided contact details.

7. 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 1 business day is available for an additional fee of €30.

1. The Portugal Golden Visa is a residence permit granted to foreigners in return for investment in the country’s economy.

2. 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.

3. The option featuring the minimum investment amount is an investment in culture: one needs to pay €250,000 for it.

4. 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. 

5. The investor can apply for Portugal citizenship 5 years after obtaining a residence permit.