Want residency in Europe? Why Portugal’s golden visa could be your best bet

How does one acquire Portugal’s golden visa?

Formally known as the Portugal Golden Residence Programme, the scheme was launched back in October 2012 to attract foreign capital following the economic collapse of 2008. Since then, it has grown in popularity, with people across the world vying for it.

One can get their hands on Portugal’s golden visa in two ways — through a capital transfer or business creation. In October 2023, the country removed real estate investment as a basis, with the hope that it would reduce property speculation.

As Joao Pedro Cunha, the founder and marketing director of MFG Consultants Portugal, which specialises in Portuguese and Greek golden visa programmes said, “The removal of real estate as a qualifying investment for the golden visa was a policy decision aimed at addressing housing affordability concerns and redirecting foreign investment towards sectors that contribute more directly to economic diversification and innovation.”

For those who opt for the capital transfer, there are three options: an individual can invest €500,000 (Rs 4.71 crore) for research activities of public or private entities that are part of the national scientific and technological system.

Secondly, €500,000 for the acquisition of investment fund or venture capital fund units committed to the capitalisation of companies incorporated under Portuguese law. The third option is to invest €250,000 (Rs 2.35 crore) to support artistic production or the recovery or maintenance of national cultural heritage.

Individuals can also acquire Portugal’s golden visa by creating a minimum of 10 jobs or investing €500,000 for the incorporation of a commercial company that is registered and headquartered in Portugal, creating a minimum of five permanent jobs for a period of three years.

It’s important to note that Portugal’s golden visa is only applicable to non-EU nationals. Moreover, applicants have to spend only least 14 days in Portugal during the first two years and 21 days for the subsequent three years.

Moreover, Portugal’s golden residence permit is valid for two years and can be extended once for another three years.

Also read: Europe calling: Why Italy’s golden visa is the top pick of the wealthy

What are the benefits of Portugal’s golden visa?
Acquiring Portugal’s golden visa offers huge benefits not only to applicants but to the country itself. For individuals, Portugal’s golden permit allows visa-free travel in all of Europe’s Schengen area. This could be highly appealing for business professionals and families, as it allows for easy mobility across Europe.

It also allows non-EU residents the right to live, work, and study in Portugal, providing them with access to international and Portuguese schools and universities. Simply put, Portugal’s golden visa allows individuals a chance to live a high quality of life with a better sense of security.

Henley’s Emi Silva explained this better. She told Firstpost, “After the five-year residence programme, you are eligible to apply for citizenship, which provides you with the right to live, study and work in all countries in the Schengen area. The other residence programmes don’t offer this option, and this has been an important aspect for applicants while deciding between the different European programmes if their objective is long-term access to Europe.”

Portugal’s golden residency permit has also served the country well. It has raised more than $7.2 billion (€7 billion) since it was first created in 2012. Cunha of MFG Consultants has noted that most of this amount did come from “real estate acquisitions, but with the recent shift towards fund-based and business investment options, the programme continues to drive capital into strategic economic sectors”.

Also read: Why Malta’s Golden Visa is gaining traction as a gateway to Europe

What makes Portugal’s golden visa so attractive?
Since its inception, Portugal’s golden residency scheme has been popular among Chinese, Brazilian, and US nationals. Get Golden Visa’s Managing Partner Murat Coskun said that in 2023, a total of 4,455 applicants applied for the Portugal Golden Visa.

“Among these applicants, 2,901 applied as families, while 1,554 applied as individuals. In terms of nationalities, the breakdown for September 2023 was as follows: 567 applicants from the USA, 306 from China, 234 from the United Kingdom, 219 from Brazil, and 199 from India.”

Such is the demand for Portugal’s golden visas that in February, the country introduced a digital application system to fast-track applications. The Agency for Integration, Migration, and Asylum (AIMA), responsible for issuing golden visas, said it was replacing its paper-based system to speed up approvals. The move came as applicants filed legal cases against AIMA for the delays.

Also, Portugal’s golden visa programme has changed the country’s demographics. As per the National Statistics Institute, foreign residents have risen by 40 per cent.

But why is there such a demand for Portugal’s golden visa? First and foremost, Portugal is known for being one of the most globalised and peaceful nations. As per the Global Peace Index, the European country is the seventh most peaceful nation. One of the oldest countries in Europe, it provides a good mix of history, culture and heritage, making it attractive not only for the young but also for those ageing.

“Portugal is one of the safest countries in the world, has great weather, food and lifestyle benefits, the people are friendly, English is widely spoken, and the cost of living is affordable compared to other European countries, said Silva of Henley & Partners when asked why the golden visa is so popular.

There’s also the fact that, unlike other European golden visa schemes, the Portugal one doesn’t have an exorbitant price tag. A spend of €500,000 is not much, say experts when it comes to residency programmes. Additionally, it asks little of investors and provides a straightforward path to citizenship. There’s a lot of flexibility too — applicants have to spend an average of just a week a year in the country.

The golden visa also paves the way for an applicant to acquire Portuguese citizenship. This means that the applicant receives a Portuguese passport, which as per Henley is the fourth most powerful passport, granting its holders visa-free travel to 188 countries.

Finally, Portugal’s golden visa benefits extend to the holder’s immediate family — parents, spouse, and children. “It’s particularly popular among parents looking to create a “Plan B” for their children. Once they acquire citizenship, children can retain their EU passports for life — even if they don’t actively use their residency rights. This is a key advantage over many other programs where residency status is tied to financial dependence,” added Coşkun of Get Golden Visa.

What’s the future of Portugal’s golden visa?
There is growing interest in the Portugal programme. This comes as Spain is officially ending its golden on April 3 2025 because of the housing crisis in the domestic market. So what next for Portugal?

Joao Pedro Cunha of MFG Consultants said, “The future of Portugal’s golden visa programme is subject to governmental policies and economic priorities. While the current focus is on attracting high-value investors through fund investments, job creation, and innovation, it’s possible that future administrations may revise the programme’s criteria to address emerging challenges.”

Given the global issue of housing shortages, it could be beneficial to consider structuring the programme to include accessible real estate options supported by investors, thereby addressing housing needs while attracting foreign capital. However, any such changes would depend on the government’s strategic objectives and policy decisions at the time,” he added.

Get Golden Visa’s Coskun believes the Portugal visa is here to stay. “We expect it to remain popular and relevant in the years ahead," he said.