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Portugal’s Golden Residence Permit

About the program

The Portugal residency by investment program is ideal for those who would like the ability to freely travel and live in Europe, and who have medium-term plans of acquiring an EU passport.



€500,000 in Investment Funds, approved by government, with 60% of investment located in Portugal


About the country

Portugal is known as one of the safest destinations for overseas living and one of the most suitable for expats.

Population: 10,27 mln. Currency: Euro (EUR) Language: Portuguese Capital: Lisbon

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Processing time

Depending on the type of investment, the process of getting a Golden Visa will take from 9 to 12 months.


Visa-free travel

Portugal Passport gives access to visa-free entry to 188 destinations worldwide, including the Schengen Area.

Portugal Residency by Investment

Benefits of Portugal Golden Visa

Portuguese residency by investment gives individuals many
benefits, an open door not only to all the advantages of
being a resident of the European Union, but also to the possibility of obtaining citizenship.

  • Free travel
    Visa-free travel in EU

    The Golden Visa allows its holder to visit the countries of the Schengen area without obtaining additional visas.

  • Documents paperwork
    Minimum requirements to stay

    With a Golden Visa, you need to stay in Portugal only 7 days in the first year and 14 days in the subsequent 2 years.

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    Portuguese PR / passport

    After 5 years, Golden Visa holders can apply for a Portuguese passport or permanent residency, which opens the door to new benefits and opportunities. 

  • Comfortable life
    Comfortable life

    Portugal is known for its sunny weather, friendly people, and safe environment, in addition to having European standards of education, healthcare, and protection of human rights.

D7 Visa Portugal

Type of Investment for Portugal Golden Visa

From October 2023, investment in real estate is no longer available as an investment option. The most profitable choice is now Investment Funds. It can be Private Equity or Venture Funds.  Investors must maintain the investment to renew their residency card.

  • Process progress

    Investment in government-supervised Investment Funds. The total investment can be diversified between several funds.

  • Money cash flow

    Investment into a government-approved cultural project (€200,000 minimum investment in low-density areas).

  • Investment

    Creation of or participation in a Portuguese-registered company through investing in share capital and generating at least 5 jobs.

  • Movement

    Support of scientific research activities of recognized public or private research entities (€400,000 minimum investment in low-density areas)

Golden Visa Funds: how does it work?

Obtaining a Golden Visa through Funds requires a minimum investment of €500,000. This investment amount can be divided among two or more companies. As you contemplate your investment choices for the Golden Visa, it's vital to comprehend the precise requirements these funds must meet.

To qualify for the program, these funds must allocate at least 60 percent of their capital to investments in Portuguese companies, all of which must be registered under Portuguese law. Moreover, these funds are typically expected to have a minimum investment horizon of five years, aligning with the Golden Visa program's stipulations. To maintain eligibility, these funds are subject to regulation by the Portuguese Securities Market Commission (CMVM) and must adhere to rigorous guidelines. Since the program's inception in 2018, all funds have been subject to state regulation.

As of the updated regulations enacted in October 2023, it's imperative to note that eligible funds for the Golden Visa program are precluded from making any direct or indirect investments in real estate. Instead, fund assets are diversified across sectors such as factories, IT startups, agriculture, entertainment, renewable energy, and the finance industry. Diversification of assets across different sectors is a common practice, enhancing risk mitigation.

The progression of fund investments typically unfolds in the following stages:
1) Fundraising : This phase, spanning approximately two years, constitutes the subscription period.
2) Formation of the Fund's Portfolio : During this phase, investments are made, and annual income, if provided by the fund (typically ranging from 3% to 7%), is disbursed.
3) Sale of Assets : After the completion of the fund's designated term, capital gains and returns on investment are realized. Most funds typically have a maturity period spanning from 6 to 10 years. Certain funds may also offer an early exit option, contingent on the investor and their family having successfully obtained Portuguese passports. The targeted income typically falls within the range of 10% to 20%, with the actual percentage varying based on the fund's risk profile, ranging from more traditional to riskier investments.

If you have any further inquiries or require additional information, please do not hesitate to reach out.

Who can apply for Portugal Golden Visa?

After the last changes in Golden Visa, the requirements for an investor stay the same:

  • Any citizen of a non-EU and EFTA country
  • Age above 18 years
  • Clean criminal record
  • Legal income

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Eligible family members:

  • Spouse
  • Children under 18 years
  • Adult children (up to 26 years old) who are supported by one or both spouses, provided they are not married and are students
  • Parents over 65 years old and supported by the investor

Timeline for obtaining permanent residency in Portugal

One of the most important steps in acquiring Portugal Golden Visa is the paperwork phase. Invest Citizenship will recommend highly experienced local lawyers to guide you and support you until you receive your residency card.

Step 1


1-2 months

Get your NIF, your taxpayer ID number. (It is necessary to have a tax representative for this.) Open a bank account in Portugal. (This can be done remotely.) 

Step 2

Money cash flow

1 week

Choose a type of investment. Transfer the investment amount from any non-Portuguese territory to your bank account in Portugal, then make the required investment

Step 3

Documents paperwork

2-3 months

Prepare all necessary documents. When all required paperwork is ready, submit the application on the AIMA (former SEF) online portal and pay the Government application fee.

Step 4

Free travel

4-5 months

Schedule and attend the physical meeting at AIMA and submit the original documents. Pay the government final permit issue fees (when an application is approved). It will take up to 90 days for a residency card to be ready.

Step 5


Every 2 years

If you want to keep your Golden Visa, then every 2 years you will need to renew the residency card. Each time you need to provide biometric data and updated original documents.

Step 6

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After 5 years

After 5 years of having your Golden Visa, you have the right to apply for a Portuguese passport. For this, you will need to take a test on the basic Portuguese language.

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Investment Funds Examples

The minimum investment required for the Golden Visa program in Investment Funds stands at €500,000. Investors have the flexibility to distribute their investments across various funds, thus effectively reducing risks associated with concentrated investments. It's important to note that, as per the new regulations implemented in October 2023, eligible Funds for the Golden Visa program must not have any direct or indirect investment in real estate.
At Invest Citizenship, we can explain you how Investment Funds work and introduce you to Funds, ensuring you have access to the most advantageous investment options available. Please feel free to reach out to us for personalized assistance and recommendations.

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Agriculture Business Fund

The fund specializes in the acquisition and strategic optimization of large farms, focusing on the promotion of consistent orchard growth to mitigate volatility in the agricultural sector. Furthermore, the fund places a strong emphasis on securing water rights within the area, a critical element for ensuring sustainable and successful agricultural operations.

Fund Size Target: €100 Million
Annual return: 5% preferential return + 20% share above hurdle


Hospitality Fund

It is a private equity fund that invests in hospitality companies that are undergoing rapid expansion and have significant growth potential. Companies administer hotels in Portugal's most popular tourism destinations.

Fund Size Targer: €140 Million
ROI: Option I 2% fixed annual return
Option II Payment of accumulated refunds at exit. Exit year returns are estimated to be 18% in year 8, 24% in year 10, and 30% in year 12.
Guaranteed buyback of the original investment amount after 6 years.


Finance Fund

The fund specialises in providing affordable energy solutions tailored to meet the escalating demand for sustainable and cleaner power sources. Focused on economic development, it strategically invests in a diversified energy portfolio to ensure reliability and stability in energy supply for various industries.

Fund Size Target: €100 Million
IRR: 20-25%
Performance Fee: 20%
Management Fee: 1,5% (p.a)


Entertainment Fund

Fund targets high-growth potential sectors within the country's entertainment industry by investing in businesses and projects with the capacity for significant value creation and expansion

Fund Size Target: €100 Million
Yearly Gross Yield: 4%
Performance Fee: 20%
Management Fee: 1,5% (p.a)
Yearly Expected Appreciation: 10%


Football Fund

Investment Fund focuses on Multi Club Ownership in global football. Investors are guaranteed a 3% return and can exit the fund for their initial €500,000 investment, with all fees covered. Revenue comes from ticket sales, player transfers, TV rights, etc. Expansion includes potential acquisitions like a club in Brazil, later in EU.

Fund Size Target: €150 Million
ROI: 3%
Buyback is guaranteed by Put Option Agreement


Private Equity Fund

Fund invests in third-party capital operations, primarily purchasing low-risk, secured credits from established entities. It targets revenue from medium-term, low-risk contracts and similar credit operations. Additionally, the fund invests in bonds from reputable companies, offering fixed returns and diversifying risk and income sources, in line with credit fund and venture capital regulations.

Fund Size Target: €150 Million
ROI: 4%
Management Fee: 1,5% (p.a)
Performance Fee: Hurdle Rate 3,5% upside sharing 70%-30%


Diversified Investment Strategy Fund

The fund focuses on diversified investments across multiple sectors, including agriculture, hospitality, and energy. Additionally, it allows for private equity investments abroad, with a maximum allocation of 15% in each fund. This strategic approach aims to capitalize on growth opportunities and mitigate risks by spreading investments across different industries.

Fund Size Target: €60 Million
Target Return: 8%
Set-up Fee: 1,75% (p.a)


Luxury Classic Car Fund

The fund specializes in acquiring luxury classic cars, focusing on strategic timing for purchasing and selling. By holding and maintaining these valuable assets, the fund aims to maximize returns by selling the cars at optimal market conditions.

Fund Size Target: €20 Million
Target Return: 12%
Set-up Fee: 2,5% (p.a)

Other types of visas,
way to residency in Portugal


D7 Visa Portugal

Portugal's D7 visa program is an increasingly attractive residency option for individuals who are financially independent or able to support themselves without working in Portugal. This visa caters to retirees and others who are able to live off a stable income; for example, income from real estate (rental income), intellectual property, or financial investments. To qualify for the D7 visa, applicants must demonstrate they possess an annual or lump sum income of at least EUR 9,120 and proof that they possess adequate health coverage, and an absence of criminal convictions. Once approved for residency in Portugal, individuals can experience its many advantages - access to high-quality healthcare and education systems, the ability to live and work in Portugal, and visa-free travel between countries of the Schengen Area.


D2 Visa Portugal

Portugal's D2 visa program offers another lucrative residency option, and caters specifically for entrepreneurs, those looking to establish businesses in Portugal. To qualify for a D2 visa, applicants must present evidence that their business plan and finances can support opening a company in Portugal. They also need adequate health coverage and no criminal records to impede their admission. Once approved for residency in Portugal, individuals can enjoy its advantages: access to high-quality healthcare and education systems, eligibility to live and work in Portugal without visa restrictions, and visa-free travel throughout Schengen Area countries.


Digital Nomad Visa Portugal

The Digital Nomad Visa is a game-changer for remote workers seeking to work and live abroad. It offers a one-year temporary stay visa with possibility of renewal. To be eligible, applicants need a minimum monthly income of €3,040. This visa not only provides flexibility in terms of stay duration but also offers added benefits such as healthcare access, tax advantages, and often, hassle-free travel within the host country. Application requirements often include health insurance coverage, a clean criminal record, and a valid passport with sufficient validity. In essence, the Digital Nomad Visa is an exciting opportunity for individuals who want to explore new cultures, maintain their remote careers, and enjoy the perks of a location-independent lifestyle.

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