What is the Portugal Golden Visa?
The Portuguese Golden Visa was launched in 2012 to attract foreign investment and promote economic growth in Portugal. The program allows non-EU citizens to obtain a residence permit in Portugal by making a qualifying investment in the country.
The investment program has been highly successful, with over 11,758 residence permits awarded to foreign investors since 2012 and 19,171 family members enjoying the benefits Golden Visa scheme. This makes it one of the most popular residency-by-investment programs in Europe.
Key Benefits of the Portugal Golden Visa
Overall benefits
Overall, the Portugal Golden Visa offers a range of benefits that make it an attractive option for foreign investors and professionals looking to relocate to Portugal. The program provides a straightforward path to residency, access to education and employment opportunities, and the potential for citizenship and an EU passport after a qualifying period.
Travel and visa-free countries
One of the most significant benefits of the Golden Visa is the ability to travel visa-free to Schengen Area countries, including select EU member states, Switzerland, and Norway. The Golden Visa provides access to 27 European Union nations and visa-free travel to 172 nations. This means that people holding the Golden Visa can travel freely within the Schengen Area with visa-free access for up to 90 days every six months.
Freedom to live, work, and study in Portugal
Golden Visa holders are entitled to live and work in Portugal and enroll in Portuguese schools and universities. This provides excellent opportunities for those looking to relocate to Portugal and experience the country’s rich culture and history.
Family reunification in Portugal
People who have a Golden Visa are entitled to family reunification, meaning they can include their dependent family members in their application, including:
- Spouse or legal partner
- Children under the age of 18
- Dependent children under the age of 26 who are single and enrolled in full-time education or otherwise demonstrably financially dependent on their parents
- Parents of either spouse over the age of 66 or 55 years of age and demonstrably financially dependent on either spouse
Families can relocate to Portugal together, allowing for a smooth transition and integration into Portuguese society.
Tax benefits
Portugal Golden Visa holders benefit from several tax advantages, including exemption from wealth tax and inheritance tax on assets held outside of Portugal.
They may also qualify for the Non-Habitual Resident (NHR) tax program, which offers favorable tax rates on foreign-source income for up to ten years. Because of updated NHR legislation, the way that Golden Visa holders pay tax, particularly income tax, in Portugal has changed.
The government in Portugal has announced that the Non-Habitual Resident (NHR) tax regime will be phased out for new applicants starting from January 1, 2024. This means that individuals who have not been tax residents of Portugal in the previous five years will no longer be eligible for the NHR tax benefits, which include a reduced tax rate on foreign income.
The NHR tax regime was a popular incentive for foreign investors who wanted to live in Portugal. However, the government in Portugal has said that the scheme was too generous and that it was attracting wealthy individuals who were not contributing to the Portuguese economy.
For new applicants to the Golden Visa program, the main tax benefit will be a flat tax rate of 20 percent on personal income earned in Portugal. However, there will be no exemption from capital gains tax or inheritance tax.
The Portuguese government has also said that it is considering introducing a new tax regime for wealthy individuals who invest in Portugal. This new regime could include further tax breaks or even a complete exemption from income tax.
Portuguese citizenship and Portuguese passport
After holding a Portugal Golden Visa for five years, individuals can apply for Portuguese citizenship and a European passport. This provides access to all the benefits of being an EU citizen, including the right to live, work, and study in any EU member state.
Who Can Apply?
The Golden Visa is available to any non-EU/EEA/Swiss national who makes a qualifying investment in Portugal. The main applicant may include family members under the same application:
- Spouse or legally recognized partner
- Dependent children under 18
- Dependent children aged 18–25 who are unmarried and enrolled in full-time education
- Dependent parents of either the main applicant or spouse (generally over 65, or younger if financially dependent)
- Siblings under 18 if under the legal guardianship of the main applicant.
Residency and Citizenship Pathway
Golden Visa residence cards are issued for 2 years, renewable every 2 years. After 5 years of legal residence, the applicant may:
- Apply for Permanent Residency (requires A2 Portuguese)
- Apply for Citizenship (same as above)
Recent legislative discussions defines citizenship eligibility may begin from the date of application, not residence permit issuance -potentially shortening the timeline.
Mobility and Schengen Access
Golden Visa holders may:
- Travel visa-free within the Schengen Area
- Use Portugal as a base for international residence
We offers a comprehensive overview of the program, including who can apply, investment options, the application process, post-approval obligations, tax implications, and frequently asked questions. Whether you are seeking a secure second residency or a path to EU citizenship, the Portugal Golden Visa offers an accessible and strategic opportunity.