What is Portugal Golden Visa Program?
What is the Portugal Golden Visa Program?
The Portugal Golden Visa Program is a residency-by-investment scheme that grants investors and their family members the opportunity to become European Union citizens without the requirement to reside in Portugal, provided they invest a minimum of €500,000 and meet specific conditions. Designed exclusively for non-EU nationals, this program enables applicants to apply for permanent residency or Portuguese citizenship after five years.
Upon completing the five-year period, investors opting for the fund investment route also have the possibility to withdraw their investment capital when applying for Portuguese citizenship.
Launched in October 2012, during Portugal's economic recovery, the Portugal Golden Visa Program was implemented as part of a broader strategy to attract foreign investment. Over the years, the program has undergone various regulatory adjustments to align with evolving economic conditions and EU regulations. As of October 2023, the real estate investment option was discontinued; however, to maintain its global appeal, the program continues to offer alternative investment routes, such as investment in Golden Visa funds and donations to cultural initiatives.
The Portugal Golden Visa Program grants investors and their family members a residence permit through investment. Investors can apply for a Golden Visa by making a minimum fund investment of €500,000 or selecting one of the alternative investment options.
With the Golden Visa residence card, applicants are entitled to reside in Portugal for 365 days per year and stay in the Schengen Area for up to 180 days within any 12-month period. Investors and their family members can enter Portugal and other European countries without a visa, using only their residence permit card.
Once they obtain the residence permit, investors gain the right to live, work, study, access healthcare services, and use the judicial system in Portugal. However, there is no requirement for investors to reside in Portugal to maintain their residence permit or apply for citizenship. To become eligible for Portuguese citizenship, Golden Visa holders are only required to visit Portugal for seven days per year over a five-year period.
While the Portugal Golden Visa is primarily a residency program, its key distinction from other residence-by-investment schemes is the pathway to citizenship after five years, provided certain conditions are met. Unlike the Greece Golden Visa and Spain Golden Visa, which typically require applicants to physically reside in the country for at least 183 days per year for seven years or more, Portugal offers a more flexible route to citizenship with a significantly lower stay requirement of just seven days per year.
Additionally, in Greece and Spain, the continuation of the residence permit is contingent upon real estate ownership, whereas Portugal allows investors to withdraw their investment capital after five years, even before applying for citizenship.
The Portugal Golden Visa Program is widely regarded as a strategic opportunity for investors seeking entry into Europe, offering both residency and a pathway to potential citizenship.