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Latest (ALL) Portugal Golden Visa Options from €200K – €500K (2025)
If your heart is set on getting an EU passport via a Golden Visa, but with minimal time spent in-country, then all roads still lead to the Portugal in 2026.
Although as of May 19th of 2026, the residency timeline to naturalization has doubled from 5 years to 10 years – unless you’re the national of a Lusophone country, in which case the timeline to citizenship is 7 years.
By spending on average just 7 days per year in Portugal and mastering basic Portuguese, you can still become eligible to apply for Portuguese citizenship after the applicable residency period.
However, the processing times for citizenship applications are presently lengthy; up to 24 months or more…
As of this writing, Portugal is still the only codified Golden Visa program offering this low-stay pathway to citizenship.
However, there is small number of alternative investment-linked, non-Golden Visa frameworks offering no-relocation pathways to EU citizenship.
Portugal’s Golden Visa Program is widely considered to be the flagship European Residency-By-Investment framework. While the program is widely recognized, it has experienced massive backlogs and bureaucratic friction since around 2020.
These are late-stage tolerance symptoms of a system under political and administrative strain. And while most applicants tend to focus heavily on investment related risks, the processing timeline itself has become the key risk for the Portuguese program.
Below, we highlight all of the Portugal Golden Visa options for 2026.
We also outline why an increasing number of Golden Visa applicants are starting to explore jurisdictions not traditionally associated with Golden Visa programs in search of lower political visibility, lower application volumes, and lower timeline risk.
The Portugal Golden Visa program has not ended in 2026.
But its operating environment has hardened significantly, and applicants should take careful cognisance of the program’s processing timeline challenges before applying.
What are the new Golden Visa investment requirements for 2026?
CULTURAL GOLDEN VISA – CHEAPEST OPTION
€250,000 (€200,000 if situated in Low-Density Areas – NUTS III)
PORTUGUESE INVESTMENT FUNDS
€500,000+ (Real Estate Funds Ineligible)
JOB CREATION
10 Jobs – No minimum investment amount or employment sector prescribed
*If company is in low-density area (NUTS III).
COMPANY CAPITALIZATION
Invest €500,000 in an existing company, creating 5 new jobs for 3 years+, or preserving 10 jobs.
RESEARCH ACTIVITIES
€500,000+ funding for research activities carried out by public or private scientific research institutions in Portugal.
Comparing your various Golden Visa options…
Comparative tables best viewed on desktop.
| Program Track | Minimum Layout | Key Benefits | Key Disadvantages |
|---|---|---|---|
CULTURAL PRODUCTION GOLDEN VISA(Donation based). NOTE: We presently have only a handful of €200;000 Artistic Production Golden Visa client slots available for a project in the Portuguese interior. Contact us now to avoid missing out. |
€200,000+ if he project will be based in a NUTS III level location (i.e. low density).
(This is defined as an area with less than 100 inhabitants per km2, or in an area with a GDP, per capita, of less than 75% of the national average). OR: €250,000+ (urban areas) |
Lower capital outlay. Lower long-term opportunity cost. The opportunity to support Portuguese cultural initiatives in association with a number of prestigious Portuguese foundations. |
This is a relatively new program track, and typically involve a non-refundable donation.
Film funding investments options, where available, traditionally carry significant downside risks. |
PORTUGUESE INVESTMENT FUNDS GOLDEN VISAView a list of all of the Portuguese Golden Visa Investment Funds for 2024 here. Governmental Program Guidance: Portuguese Investment Funds option |
€500,000+ |
Investment funds may deliver higher potential returns than property investments. And in the case of open-ended funds, a higher potential level of liquidity. |
As with any kind of investment, Portuguese funds carry a degree of potential risk: You may not be able to recoup your full principal, and there is the risk of far more significant losses, depending on the exact nature of the fund you choose to invest in. In addition, unless you choose an open-ended Golden Visa fund, you won’t be able to access your capital until the investment reaches maturity. |
JOB CREATION GOLDEN VISA – 10 JOBS) |
No minimum investment required. Create at least 10 new jobs (8 jobs if the business is situated in a low density territory.
A low density area is defined as being situated in a NUTS III level location, with less than 100 inhabitants per km2, or an area with a GDP, per capita, of less than 75% of the national average). |
Given that no minimum investment threshold is required this option could work well for Golden Visa applicants planning to launch a business that will create permanent jobs in Portugal. This is not a very viable option if you’re looking for a low-effort Plan B. But depending on the nature of the business and its capitalization and operational expense requirements, this could be THE cheapest Golden Visa option. |
Unlike with a real estate based Golden Visa investment, this track is most likely not going to be a “passive” investment. Realistically, getting a Golden Visa will be a secondary benefit for Job Creation Golden Visa applicants. And for individuals who will need to spend the majority of any given calendar year in Portugal in order to run their fledgling business, the D7 or D2 Visa categories may be viable options as well… |
RESEARCH ACTIVITIES GOLDEN VISA |
€500,000+ | Secure your Plan B while making a meaningful socio-economic and/or technological contribution to your new second home country.
Gain the opportunity to plug into the Portuguese research sector. Potentially develop, package and scale high-value intellectual property (IP) in collaboration with a Portuguese research institution. |
In many instances, this option essentially entails a non-refundable donation to fund research activities. So for most Golden Visa applicants, this option will not make much sense.
However, in the case of successful patenting and royalty payments, potential returns can be negotiated. |
NEW OR EXISTING COMPANY CAPITALIZATION GOLDEN VISAGovernmental Program Guidance: “Constitution of a Commercial Company” option |
€500,000+ (€400,000*);
AND: Create 5 (4) new permanent job positions (if a new company) OR: Create 5 (4*) new OR preserve 10 (8*) existing jobs (if capitalizing an existing Portuguese enterprise). *If the project is situated in a NUTS III Area. |
Enjoy full control by launching your own company.
Opt for low/no operational involvement by capitalizing an existing Portuguese enterprise. |
Launching a brand new venture abroad necessarily comes with the potential risk of losing your entire principal. This option may therefore make the most sense to seasoned serial entrepreneurs.
Investing in a mature, established business could be a viable option that requires less (or no) operational involvement. However, depending on the nature of the business being invested in, the risk of partial – or total – loss of capital can nonetheless be significant also. |
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Frequently Asked Questions
Yes, you can financing for Portugal’s Golden Visa. However, the financing must be provided by a non-Portuguese bank or lender.
For example, you could use some of your mortgage equity (built up in your home outside Portugal) as an eligible source of funds…
But you would not have been able to buy a Golden Visa property in Portugal using a Portuguese mortgage loan (when buying property was still an option there).
Golden Visa programs like Canada’s Quebec Immigrant Investor Program (QIIP) and the US EB-5 Immigrant Investor Visa have long allowed you to use loans as a legitimate source of funding.
Consequently, a number of specialized lenders emerge there to meet the market demand for such Golden Visa loans.
And more recently, Portuguese Golden Visa financing solutions (aka Golden Visa loans) have emerged, too – albeit offered by non-Portuguese lending institutions to comply with the program’s source of funding requirements.
Offering lending rates as low as 3%, these Golden Visa financing products are among the most cost-effective ways of obtaining the Portuguese Golden Visa, whilst significantly reducing opportunity costs and capital exposure.
To learn more about the available Golden Visa financing options for 2024, get in touch now.
Looking for cheaper Portuguese Golden Visa alternatives?
If you don’t want to invest €500,000 on a Golden Visa Investment Fund, be sure to check out the HQA Visa (€175,000) as well the new Startup Co-Investor Visa program (€150,000).
Applications for both of these programs is typically processed within as little as 3-4 months, offering a compelling alternative to the Golden Visa, which presently has a processing time in excess of 24 months.
As of Wednesday 9, 2023, Russian citizens can apply for an EU Golden Visa by buying property in Hungary Cyprus and Spain only.
In addition, the Turkish Citizenship By Investment program, and Andorra’s Non-Lucrative Residency / Golden Visa program also accepts Russian and Belarusian applicants.
There is also one European Citizenship By Investment option for Russians, however this product is for high net worth applicants only.
To find out more about this European CBI option for Russians, contact us now.
Last updated on December 19, 2024…
The answer to this question, unequivocally, is yes – there are presently no indications that the Portuguese Golden Visa will be ending in 2024.
As of this writing, the Portuguese Golden Visa is still going strong, despite the program undergoing significant changes – and a fair amount of uncertainties and challenges – during 2023.
It’s not secret that Brussels despises Golden Visa programs. But according to EU legislation, it is up to each country in the bloc to determine whom they naturalize, and on what grounds.
Critics of the program jump at every single opportunity to proclaim the demise of the Golden Visa – and yet, it has been running as one of the world’s top residency by investment programs for the past decade.
And that while pressure from the EU and socialist lobbyists will no doubt continue unabated, the Golden Visa program presently looks set to continue without further changes in 2024.
To be technically correct, one would have to refer to the validity of the Portuguese Golden Residency Permit – NOT the Portuguese Golden “Visa”.
As a Golden Visa applicant, you will typically use a regular C-category Schengen Tourist Visa to enter Portugal for your biometrics appointment with SEF.
Thereafter, you will receive a temporary residency permit that is good for two years (24 months). The second temporary residency permit, issued upon renewal, is good for an additional three years (36 months) – that’s a total of five years of temporary residency.
After five years of temporary residency, you can apply for either permanent residency or citizenship, OR you can opt to renew your temporary residency for an additional three years.
In contrast, the Greek Golden Visa is issued with a validity of five years, and is renewable in five-year increments.
Choosing the best Portuguese Golden Visa option will depend on your unique situation, objectives and requirements.
However, if you’re looking for the cheapest, fastest Golden Visa option then the Cultural Golden Visa needs to be on your radar.
Priced at only €200,000 for projects in low-density areas, and €250,000 elsewhere in the country, this “artistic support” option is the only GV option to offer a government pre-approval step before capital has to be committed.
And unlike the Cultural Heritage Preservation option, this option is NOT a non-refundable donation, i.e. it’s a for-profit investment.
You can learn more about the latest available Golden Visa options, and explore the Cultural Golden Visa here.
According to data released by SEF.pt, 77 ARI (Golden Visa) residency permits were issued to successful primary applicants during August 2022.
An additional 125 permits were issued for dependents of primary applicants on the basis of family reunification.
As of the end of August, 806 primary applicants have been approved for residency visas under the Golden Visa program since the beginning of the year.
During August, the top 5 source countries for the Golden Visa program has been:
| Country | Number of Golden Visa Residency Permits Issued | Reporting Month: August 2022 |
|---|---|---|
| China | 19 | |
| Brazil | 10 | |
| United Arab Emirates (UAE) | 10 | |
| Pakistan | 5 | |
| Morocco | 4 | |
| Other (Combined) | 29 | |
| TOTAL | 77 |
Of the 77 applicants, 64 opted for real estate based investments, whereas 13 chose the capital transfer route.
The average investment per primary applicant was €515,117.
Image credit: SEF.pt
As of 15 September 2022, the cheapest Golden Visa investment option is the relatively unknown “artistic support” Golden Visa, a.k.a. the Cultural Golden Visa.
Investments in eligible cultural production projects (e.g. feature film production) are priced at €250,000 for films shot in urban areas, and only €200,000 for projects situated in low-density areas, typically in the Portuguese interior. Apart from being the cheapest Portuguese Golden Visa, the Cultural Production track is also the only one to offer pre-approvals by the Portuguese Ministry of Cultural Affairs.
The Cultural Golden Visa option also offers a deed-backed capital guarantee, and a guaranteed return of 4% p.a. Filming does not commence until a pre-sales agreement has been finalized with the distributor, which significantly reduces the risk of financial under-performance.
To learn more about Portugal’s Golden Visa program, visit the official program web page (on SEF.pt), by clicking here.
To learn more about the online application process for the Golden Visa, visit the following SEF page.
To view ALL the latest Golden Visa investment options for 2022/2023, including the new Cultural Golden Visa stream (NON-Donation), priced at only €200K, click here.
No. Going into 2025, the Portuguese Golden Visa can no longer be obtained by buying a property (or investing in any property, for that matter). And funds that invest in property are not eligible for the Golden Visa either.
And that’s a shame, because literally 95%+ of all Golden Visa applicants would prefer to go for a residency by property investment.
Having said that, nothing stops you from making an eligible Golden Visa Fund investment… and pairing it with a separate property purchase.
Moreover, best of all, one Golden Visa compliant fund has just launched an innovative product, with which you can gain the Golden Visa via a fund investment… whilst still walking away with a desirable, high-yield property in central Porto once you’ve obtained Portuguese permanent residency and/or citizenship.
In light of Russia invading Ukraine, Portugal, Ireland, Spain and Greece are no longer accepting applications from Russians. And as of 24 August, 2022, there is not indication available as to when this ban my be lifted either.
(There is, however, at least one European Golden Visa program currently accepting Russian applications: Hungary:
The property-based Hungarian Residency By Investment program is arguably the fastest and most affordable option for Russians and nationals of Belarus in 2023.
Contact us to learn more.
And in the meantime, also be sure to familiarize yourself with the new €200K Portuguese Cultural Golden Visa option.
But there are also other viable alternative Golden Visa and Citizenship By Investment options for Russians, e.g. the Turkish Citizenship By Investment program (although this may soon expire…)
Antigua and Barbuda lifted their ban, only to re-suspend both Russians and Ukrainians again recently.
Grenada is presently accepting Russian CBI applicants though.
While Russians are still eligible to apply for the D7 Visa Program, they are not currently able to open bank accounts in Portugal, and obtaining a NIF has become more challenging also (both of which are required to obtain the D7).
Latvia opted to keep their program open in light of the other EU Golden Visa Programs rejecting Russian nationals (but placed a ban on Russian and Belarusian applications for 15 months.)
The Golden Visa application process at a glance
STEP 1: CHOOSE YOUR INVESTMENT
After you’ve made sure that a D7 or HQA Visa – both cheaper options – won’t work for you, go ahead and select your preferred Golden Visa investment. Historically, the vast majority of GV applicants went for the property option, but since the new requirements kicked in, the fund investment option has been growing in popularity.
STEP 2: COMPILE YOUR APPLICATION DOCUMENTS
Gathering all the required documents in the correct format is vital to ensure your applications’s success (see the list of required documents below). Beware – the devil is often in the details. Working with a professional service provider is highly advisable, as getting anything wrong at this stage can lead to significant delays and additional costs.
STEP 3: APPLY FOR YOUR PORTUGUESE NIF
Getting you Tax Identification Number – the so-called Número de Identificação Fiscal, or NIF, for short – is one of a host of important steps required to make an investment and apply for your Golden Visa. You can apply for this tax number, fast and from outside of Portugal, by granting a power of attorney to your Golden Visa lawyer.
STEP 4: OPEN A PORTUGUESE BANK ACCOUNT
While opening a Portuguese bank account from abroad has historically been a difficult process, it’s very recently become even harder. Moreover, prominent banks like Millennium BCP and Atlantico Europe are both no longer offering bank accounts to foreign nationals outside of Britons, Ukrainian refugees holding temporary protection status, and – thankfully – Golden Visa applicants.
STEP 5: COMPLETE YOUR GOLDEN VISA INVESTMENT
Complete your required investment in close consultation with your Golden Visa consultant. Especially if you’re opting for the residential property investment option, make sure that the area and property you wish to invest in will comply with the new program criteria. If you’re investing in a fund, be sure to discuss the implications with your trusted financial advisor.
STEP 6: SUBMIT YOUR PRE-APPLICATION ONLINE TO SEF
Once your investment has been made and your documents have been compiled, you can submit your pre-application online to SEF, the Portuguese immigration authority. Your Golden Visa consultant can do this on your behalf, and will let you know if any documents are missing. Assuming all is in place, you can expect your SEF biometrics appointment date to be issued within 3 months.
STEP 7: ATTEND YOUR SEF BIOMETRICS APPOINTMENT
After analyzing your Golden Visa pre-application – and assuming everything is in order – SEF will require you to schedule a biometrics appointment. You then need to attend an in-person appointment at the SEF branch in question, along with any dependents, to have your biometric data captured and formalize your Golden Visa application.
STEP 8: RECEIVE YOUR GOLDEN VISA RESIDENCY
Within a period of 2 to 3 weeks after your SEF appointment, your Golden Visa residency cards will be issued by the Portuguese authorities. Your law firm or Golden Visa consultant will collect these and ensure you receive them. Your residency cards are initially valid for two years. After the first renewal, they’ll be good for 3 years at a time.
STEP 9: RENEW YOUR RESIDENCY PERMIT AFTER 2 YEARS
Once you’ve held legal residency for 5 years, you can apply for Portuguese permanent residency (PR) or citizenship. To apply for citizenship, you must speak basic Portuguese and show real-world ties to the country. Alternatively, you can simply continue renewing your GV residency, but then you’ll have to maintain your investment.
Secure your Plan B with a Portuguese Golden Visa from only €200,000. Contact us today.
DID YOU KNOW?
During 2024-2025, Americans were the top recipient nation for Portuguese Golden Visas, accounting for 18.5% of total approved applications…
Russian citizens: Russian Golden Visa applications are once again getting processed. Get in touch to start your application today.