How to Apply for Portugal Golden Visa Residency in 2025: Investment Options, Minimum Stay Requirements and Eligibility Rules

With its borders established in 1139, Portugal is one of Europe’s oldest nations. In fact, its capital, Lisbon, is older than Rome. The country is a leading global producer of cork and boasts the world’s oldest bookstore, Livraria Bertrand, which was founded in 1732. Portugal’s rich maritime history made it a major colonial power. Its influence is seen in its language − spoken by over 267 million people worldwide − and its cuisine, which includes bacalhau (salted codfish) and port wine.

The Portugal Golden Visa, officially known as the Residence Permit for Investment Activity (ARI), launched in 2012 to attract international capital and provide a pathway to permanent residency and citizenship. Since its inception, the programme has generated over €7.5 billion in investments and granted residency to over 38,000 international investors and their families. The programme remains active in 2025, although it has undergone major restructuring, particularly eliminating real estate investment routes in 2023.

Portugal’s Golden Visa offers numerous benefits, including visa-free travel within the Schengen Area and the ability to live and work in Portugal. Besides, unlike other Golden Visa schemes, it stands out for providing a clear path to permanent residency, or Portugal Golden Visa citizenship, after five years.

In this article, we’ll explore important aspects of the Portugal Golden Visa, namely:

• The benefits of obtaining a Portugal Golden Visa;
• Eligibility criteria, including the Portugal Golden Visa minimum stay requirement;
• How to apply for a Portugal Golden Visa; 
• Recent changes to the Portugal Golden Visa Scheme.

The Increasing Appeal of Portugal’s Golden Visa 

In recent times, the Portugal Golden Visa has become increasingly attractive to investors, seeing a total of 4,987 Golden Visas being issued in 2024 alone. This marked a 72% increase from the previous year and surpassed the earlier peak of 4,029 approvals reached in 2017, according to data from Portugal’s immigration agency AIMA (the Portuguese Agency for Integration, Migration and Asylum), as cited in IMI Daily. 

What’s more, Portugal’s government is considering enhancing the programme’s incentives while promising to clear a substantial backlog of pending applications. The timing of Portugal’s enhancement discussions follows Spain’s recent decision to eliminate its Golden Visa programme in April amid housing market concerns.

Of interest, the number of Golden Visas issued by AIMA fluctuated somewhat between 2012 and 2024, as can be seen in the table below:

Source: AIMA, published in IMI Daily. 

The Benefits of Acquiring a Portugal Golden Visa

Golden Visa holders enjoy the flexibility to live in Portugal while maintaining minimal physical presence. The Portugal Golden Visa minimum stay requirement allows investors to spend just seven days per year in Portugal on average, making it ideal for those who want to maintain residence in the country without relocating permanently. After holding the residence permit for investment activities for five years, visa holders can apply for Portuguese citizenship while retaining their original nationality.

The many benefits of having a Portugal Golden Visa include:

• Visa-free travel in Europe’s Schengen Area and the right to live, work and study in Portugal;
• Eligibility to apply for citizenship after five years while keeping other citizenship(s);
• Low physical presence requirement (the minimum stay requirement is 14 days during the first two years and 21 days for the subsequent three years);
• Excellent international and Portuguese schools and universities;
• Good quality of life, local cuisine and wines, rich culture, mild climate and a high level of security; and
• International-quality healthcare clinics and hospitals.

Living in Portugal as a Golden Visa Holder

Many Golden Visa investors choose to spend more than the minimum days in Portugal required, taking advantage of the country’s high quality of life. You’ll need to maintain a bank account in Portugal and may choose to become a tax resident*, depending on your circumstances. The residence permit for investment activities provides full access to Portugal’s healthcare and education systems, making it an excellent option for families planning to study in Portugal or establish long-term residence there. After five years, you can apply for permanent residency, providing an even more stable foundation for your year in Portugal and beyond.

*A note on tax: Obtaining a Golden Visa doesn’t automatically make you a Portuguese tax resident. You only become a tax resident subject to worldwide income taxation if you spend more than 183 days yearly in Portugal. Investment income in Portugal is taxable regardless of residency status. 

Path to Citizenship and Permanent Residency

Portugal Golden Visa Citizenship After Five Years

One of the most attractive aspects of the Portugal Golden Visa benefits and application process is the clear pathway to citizenship, as Golden Visa holders can apply for citizenship after maintaining their residence in Portugal for five years. This process allows investors to apply for permanent residency first, then progress to full Portuguese citizenship. To apply for Portuguese citizenship, investors must demonstrate basic Portuguese language proficiency and maintain their investment throughout the qualifying period. The ability to apply for citizenship while keeping existing nationalities makes this programme particularly appealing to international investors.

Recent Updates

In 2025, the five-year counting period was changed to begin when applicants file their Golden Visa application, rather than at approval, thereby reducing the waiting time. 

A draft law from June 2025 proposes increasing citizenship eligibility from five to 10 years for most applicants, though this has not yet been enacted.

Eligibility Criteria for a Portugal Golden Visa

The Portugal Golden Visa programme is a five-year residence-by-investment scheme for non-EU nationals. 

Portugal Golden Visa Investment Options 2025

There are, broadly, two gateways for applying for a Portugal Golden Visa. These fall under:

1. Capital Transfer

Applications under this category must fulfil at least one of the following three requirements:

1. Investment of €500,000 for the acquisition of investment fund or venture capital fund units committed to the capitalisation of companies incorporated under the Portuguese law, with a maturity of at least five years and with at least 60% of the investment portfolio in companies with a registered office in the national territory (real estate entities don’t apply);
2. Investment of €500,000 for research activities of public or private entities that are part of the national scientific and technological system; or
3. Investment of €250,000 in support of artistic production or in the recovery or maintenance of national cultural heritage.

Note: There is leeway for reducing the above amounts in certain instances, such as in low population-density areas of Portugal. A low population-density area is defined as one with less than 100 inhabitants per km² or with a GDP per capita below 75% of the national average.

2. Business

Applications under this category must fulfil at least one of the following two requirements:

1. Creation of a minimum of 10 new jobs (or eight new jobs in a low population-density area); or
2. Investment of €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 (or for the increase of the share capital of a company already incorporated and headquartered in Portugal, creating at least five permanent jobs or maintaining at least 10 jobs for three years).

Minimum Stay Requirements 

Golden Visa holders must spend at least seven days per year in Portugal on average (14 days per two-year renewal period). This equals 35 days total over the five-year programme duration, providing maximum flexibility for non-resident investors.

Eligibility for UK Citizens

Since Brexit, British citizens are treated as third-country applicants and are fully eligible to apply for the programme. The Golden Visa provides British nationals with the right to travel visa-free within the Schengen Area and also allows family reunification, including for: 

• Spouse or legal partner; 
• Children under 18 years old; 
• Dependent children over 18 if unmarried and in full-time education; 
• Dependent parents of either applicant or spouse (dependency required if under 65).

Application Process for a Portugal Golden Visa

Various documents need to be prepared, including legal documents, obtaining a tax number, selecting a qualifying investment option and opening a bank account. Once the investment is finalised and personal documents are collected, the application is submitted online and accepted by the government authority. The client and family then visit Portugal to provide biometric data and original documents at the immigration office. Applicants should budget several months for the complete process from initial investment to receiving their residence permit for investment activities.

Upon application approval and payment of the residence card(s), a two-year residence permit is issued, renewable for one subsequent period of three years. The client can thereafter either extend the temporary permit again, apply for permanent residence, or apply for citizenship.

Application: Step-by-Step Process

STEP 1. Choose the qualifying investment option.

STEP 2. Obtain your NIF (tax number) and open a Portuguese bank account. 

STEP 3. Gather the required documentation.

STEP 4. Submit your pre-application online. 

STEP 5. Attend a biometrics appointment in Portugal.

STEP 6. Receive your Golden Visa (typically six months after biometrics).

Required Documents: 

• Valid passport copy 
• Criminal record from your current residence country (updated within three months) 
• Evidence of a qualifying investment 
• Fund transfer statement from a Portuguese bank 
• Proof of private health insurance 
• Sworn statement confirming five-year investment commitment

Recent Changes to the Portugal Golden Visa Programme

Portugal Golden Visa Investment Options 2025: What’s Changed?

The Portugal Golden Visa investment options have evolved significantly, particularly regarding real estate investment. Portugal Golden Visa real estate investment changes in 2025 eliminated direct property investment as a qualifying route, redirecting investors toward alternative investment routes such as funds and business creation. Golden Visa applicants now have several investment routes to choose from – including alternative investment funds, cultural production, scientific research or business creation – with investment requirements varying based on location and type. The Portugal Golden Visa rules and eligibility 2025 ensure that investment contributes more directly to Portugal’s economy and innovation sectors.

Investment Options No Longer Available

As of the “Mais Habitação Law” enacted on 6 October 2023, the following routes are eliminated: 

• Real estate purchases or real estate-linked fund investments 
• Capital transfers of €1,500,000 or more 

New Procedures for Application Updates

Under the current process, applicants and their legal representatives are required to update and complete their applications through the Portal ARI (“Autorização de Residência para Investimento” – Residence Permit for Investment). This step precedes the formal residence permit request and complies with Article 65-D, paragraph 16, of Regulatory Decree No. 84/2007, dated from the 5th of November.

Key changes introduced include:

• Transition of applications: Pending applications marked as ‘under analysis’ or ‘accepted’ on the ARI portal will automatically move to an awaiting submission status, enabling applicants to update their documentation;
• Documentation updates: All required documents must be valid, legalised (if issued abroad), translated into Portuguese or English and certified, where applicable. Non-certified documents must be presented in original form during the in-person appointment; and
• Submission requirements: Documentation must be uploaded for both investors and their family members. Individual files should not exceed 2MB; larger documents should be divided before submission.

Appointment Scheduling

Once applications are updated, AIMA will automatically schedule appointments for biometric data collection and in-person verification:

• Appointments commenced from 15 January 2025 and are scheduled in chronological order based on application updates;
• Appointments must occur no less than 30 days and no more than 90 days from the date of scheduling;
• In exceptional, justified cases where attendance is not possible, appointments will be rescheduled for the second half of the year; and
• Applicants may not have the option to select their preferred AIMA office, as scheduling will consider flow management and family unit size.

In-Person Appointments

During the in-person appointment:

• Biometric data will be collected, and the applicant’s presence in Portugal will be confirmed, as stipulated in Article 77, paragraph 1, subparagraph c of Law No. 23/2007, dated 4 July; and
• The initial application, passport and any non-certified documentation previously uploaded must be presented for validation.

Fee Payment

All fees related to the process must be paid at the in-person appointment:

• Payments will be processed exclusively via POS (Point of Sale). Applicants should ensure they have the necessary prior authorisation from their banking institution for the transaction.

The Role of Notarisation and Legalisation in the Portugal Golden Visa Process

When You Need a Notary

Document certification: Non-Portuguese documents like birth certificates, marriage certificates, criminal records and powers of attorney must be notarised to confirm authenticity.

Powers of Attorney: Legal representatives may require notarised powers of attorney to act on applicants’ behalf in Portugal.

Signatures: Forms and declarations, including investment commitments, often need notarised signatures.

Professional notary services ensure timely document acceptance, reduce application delays from improper legalisation, and guarantee Golden Visa compliance with all formalities.

Legalisation Requirements

All foreign documents must be legalised for Portuguese recognition. Countries party to the Hague Apostille Convention (including the UK) require an apostille stamp from competent authorities. This ensures Portuguese government and AIMA acceptance without verification delays.

Conclusion

Portugal has signalled its commitment to the continuation of its Golden Visa programme and, to this end, is making necessary changes to speed up the process for submitted and pending applications as well as new applications.

With other countries, such as Spain, withdrawing or downsizing their investor visa schemes, investors are likely to increasingly consider obtaining a Golden Visa in Portugal instead − particularly given the clear pathway to acquire permanent residence within as little as five years from the date of obtaining the Golden Visa.

For assistance with how to apply for Portugal Golden Visa residency, including document preparation and notarisation services, contact us at info@notary.co.uk or 020 7630 1777

Portugal Golden Visa FAQs

What are the current investment options for the Portugal Golden Visa in 2025?

Real estate routes were eliminated in 2023. Current options: €500,000 in funds or research, €250,000 for cultural projects, creating 10+ jobs, or €500,000 for a Portuguese company with five or more jobs.

What is the minimum stay requirement for Portugal Golden Visa holders?

Just seven days per year on average: 14 days in the first two years, then 21 days over three years, making a total of 35 days across the five-year programme.

Can I apply for Portuguese citizenship with a Golden Visa?

Yes, after five years you can apply for citizenship while keeping your original nationality. Basic Portuguese language proficiency and maintained investment are required.

Are UK citizens eligible for a Portugal Golden Visa after Brexit?

Yes, UK citizens are fully eligible as third-country nationals. Benefits include visa-free Schengen travel and family reunification rights.

What documents need notarisation for Portugal Golden Visa applications?

Birth certificates, marriage certificates, criminal records and powers of attorney must be notarised. UK documents require apostille stamps for authentication.