Portugal’s Golden Visa: Residency on Your Terms

Introduction

Launched in October 2012, Portugal’s Golden Visa was conceived as part of a broader strategy to attract foreign direct investment and support economic recovery after the European financial crisis. The program grants residency rights to third-country nationals who make qualifying investments in Portugal and has since become a flagship pathway for investors and their families.

Crucially, the Golden Visa is designed to allow mobility and optional relocation. It grants the right to live, work and study in Portugal but does not require investors to move to Portugal or become Portuguese tax residents. For many, this combination of EU access and flexibility is the primary appeal.

The Golden Visa – pros and cons

Pros

Residency with optional relocation: Right to live, work and study in Portugal without any obligation to relocate or acquire Portuguese tax residence;
Schengen mobility: Visa-free travel within the Schengen Area for the holder (and eligible family members);
Low physical-presence requirement: Averaging 7 days per year, maintaining the permit is compatible with global lifestyles;
Family reunification: Ability to include immediate family members under the same application;
Public services access: Eligibility to access public healthcare and education (subject to standard enrolment conditions);
Clear status progression: A pathway to permanent residence and citizenship after five years, subject to legal requirements.

Cons

Processing timelines: Current bottlenecks at the immigration authority can delay issuance of residence cards after investment completion;
Investment considerations: Qualifying routes carry market and regulatory risk (e.g., fund performance, job-creation maintenance), requiring careful diligence.

Routes of eligible investments

According to the Portuguese legislation, the type of investments that are eligible for the Golden visa are:

Investment in the support of artistic production and/or in the reconstruction or refurbishment of the national heritage in the minimum amount of EUR 250.000,00. If made in a low populated area, the minimum investment requirement can be reduced by 20%, ie, to EUR 200,000.00;
Capital transfer of a minimum amount of EUR 500,000.00 for the acquisition of units of investment funds or venture capital funds dedicated to the capitalization of companies, incorporated under the Portuguese law, whose maturity, at the moment of the investment, is at least five years, and at least 60% of the investments are realized in commercial companies with their head office in national territory;
Capital transfer of a minimum amount of EUR 500,000.00 for (i) the incorporation of a company with registered office in Portugal, or (ii) the increase of the share capital of an existing company with registered office in Portugal, both together with the creation of five permanent jobs that must be maintained for 3 years;
Investment in research activities conducted by public or private scientific research institutions that are part of the national scientific and technological system, in the minimum amount of EUR 500,000.00;

If made in a low populated area, the minimum investment requirement can be reduced by 20%, ie, to EUR 400,000.00;

Creation of 10 jobs.

To be able to join the golden visa program, the Investors must comply with the following requirements:

The funds for the execution of the investment must be transferred from abroad;
The Investor must enter Portugal with a valid Schengen visa;
The Investor cannot have been convicted of a relevant crime punishable with more than 1 year of imprisonment;
The Investor must not be an EU citizen or a citizen of a Schengen State.

Conclusion

Portugal’s Golden Visa remains uniquely attractive because it does not require investors to relocate or become Portuguese tax residents. Residency rights are granted, but relocation is optional—you may establish tax residence if and when it suits your personal and family plans. This flexibility, combined with low minimum stay requirements and a clear pathway to permanent residence and citizenship after five years, allows investors to secure EU mobility today while keeping life choices open for tomorrow. In an era of global instability and unpredictability, Portugal’s Golden Visa can serve as a genuine “Plan B”—a prudent, long-term option that safeguards freedom of movement and lifestyle, without requiring the investor to uproot until he/she chooses to do so.