How to Qualify for the Portugal Golden Visa

The Portugal Golden Visa continues to be one of Europe’s strongest residency-by-investment pathways—even after the major reform that removed real estate from the programme. While property was once the most common option, today’s investors are turning toward streamlined, transparent, and professionally managed alternatives such as funds, scientific research, cultural support, and business investment.

For many, the removal of the real-estate route has actually made the programme simpler and more appealing. Without the need to evaluate properties, navigate mortgages, or handle property management, investors can focus on regulated and professionally administered investment categories.

This guide explains how to qualify for the Portugal Golden Visa without buying real estate, while covering the Portugal Golden Visa investment fund, Portugal Golden Visa cost, and the full Portugal Golden Visa application process from start to finish.

What Is the Portugal Golden Visa?

The Portugal Golden Visa is a residency-by-investment programme opened to non-EU citizens who make a qualifying investment in the country. In return, investors and their family members gain residency rights in Portugal, visa-free travel across the Schengen Area, and an eventual option to apply for Portuguese citizenship after five years.

The programme is known for three distinctive benefits:

• Minimal stay requirement — average of just 7 days per year
• Fast residency approval — typically within a few months
• Pathway to EU citizenship — applicants may apply after 5 years of residency

Now that real estate has been removed, all qualifying investments fall under non-real-estate categories, making the programme cleaner and more aligned with economic diversification.

Why Choose Non-Real-Estate Investment Options?

Investors today often prefer the programme’s new structure due to several advantages:

• Reduced Complexity: No property evaluation, no brokers, no maintenance, and no compliance issues.
• Higher Transparency: Most non-real-estate options—particularly funds—are regulated, audited, and monitored under Portuguese law.
• More Predictable Exit Strategy: Funds, cultural projects, and business investments generally have defined timelines and clearer exit mechanisms.
• Alignment with Government Priorities: The transition towards research, technology, and cultural investment aligns better with Portugal’s economic goals.
• Lower Entry Options: With cultural support starting at €250,000, some applicants spend less than they would in the former property route.

Non-Real-Estate Investment Routes That Qualify

Here is a complete overview of current qualifying routes for the Portugal Golden Visa.

1. Investment Funds (Minimum €500,000)

Investors subscribe to approved private equity or venture capital funds. These funds must:

• Not have direct real-estate exposure
• Invest at least 60% of capital within Portugal
• Be regulated by Portuguese financial authorities

This is currently the most popular route because it is passive, professionally managed, and requires no involvement in day-to-day operations.

2. Scientific or Technological Research (Minimum €500,000)

Applicants can support innovation through funding research institutions in:

• Biotechnology
• Medical science
• Renewable energy
• Environmental technology
• Engineering & innovation hubs

This route suits investors who prefer impact-driven contributions with long-term social value.

3. Cultural, Artistic, or Heritage Projects (Minimum €250,000)

Investors may contribute to cultural programmes that support:

• Art production
• Museum restoration
• Theatre or music initiatives
• National heritage preservation
• Creative arts infrastructure

This is the most affordable Golden Visa route and ideal for philanthropic investors or those looking for straightforward qualification.

4. Business Investment or Job Creation

You may qualify by:

• Investing €500,000 in a Portuguese company and creating 5 permanent jobs, or
• Creating 10 permanent jobs (or 8 jobs in low-density areas) without a mandatory investment amount

This option appeals to entrepreneurs aiming to expand into the European market.

Portugal Golden Visa Requirements

To qualify, applicants must meet all of the following Portugal Golden Visa requirements:

• Must be a non-EU/EEA/Swiss citizen
• Must be at least 18 years old
• Must hold a clean criminal record
• Must provide proof of legal source of funds
• Must make and maintain the qualifying investment for a minimum of 5 years
• Must spend at least 7 days per year in Portugal (or 14 days every 2 years)
• Must submit valid documentation, including passports and investment proof
• Must have health insurance valid in Portugal

Family members—including spouse, dependent children, and in some cases dependent parents—may be included in one Portugal Golden Visa application.

Portugal Golden Visa Cost

Understanding the Portugal Golden Visa cost helps determine your total investment. Costs include:

1. Investment Minimums

• Cultural donation: €250,000
• Fund subscription: €500,000
• Scientific research: €500,000
• Company investment with job creation: typically €500,000+

2. Government Fees

• Initial residence permit fee: around €6,000 per applicant
• Renewal fee every two years: around €3,000 per applicant
• Application processing fees and administrative charges

3. Additional Expenses

• Legal and advisory fees
• Translation, notarization, and apostille costs
• NIF (tax number) registration
• Portuguese bank account setup
• Medical insurance
• Fund subscription or management fees (if using the fund route)

Most investors choose an immigration law firm to assist with structuring, documentation, and compliance.

Portugal Golden Visa Application Process

Here is a full overview of how the application works from start to finish.

Step 1: Choose Your Investment Route

Decide whether you want to invest in a fund, support cultural projects, fund scientific research, or create jobs. Evaluate risks, expected returns, and exit strategies.

Step 2: Obtain Your Portuguese NIF

A NIF (tax identification number) is mandatory for opening bank accounts and making investments. It can be obtained through a lawyer or representative.

Step 3: Open a Portuguese Bank Account

You’ll need this to transfer funds that will be used for your qualifying investment.

Step 4: Make the Qualifying Investment

Transfer your funds and complete your subscription, donation, or business investment. Ensure all transaction receipts and investment certificates are properly documented.

Step 5: Prepare the Documentation

Common documents include:

• Passport
• Criminal record certificate
• Proof of investment
• Health insurance
• Portuguese bank statements
• Proof of funds
• Dependent documentation (if applicable)

All documents must be translated into Portuguese and legally certified.

Step 6: Submit Portugal Golden Visa Application

Your legal advisor will submit your Portugal Golden Visa application through the official online portal.

Step 7: Biometrics Appointment

After pre-approval, you will travel to Portugal for fingerprints, photographs, and original document verification.

Step 8: Receive Your Residence Permit

You will receive a two-year residence permit that must be renewed every two years.

Step 9: Maintain Your Investment & Meet Stay Requirements

Visit Portugal at least 7 days per year (or 14 days every two years) and maintain your qualifying investment.

Step 10: Apply for Permanent Residency or Citizenship

After five years, you may apply for permanent residency or EU citizenship.

Advantages of the Non-Real-Estate Portugal Golden Visa Routes

These updated routes have quickly become popular among investors worldwide because they offer:

• A cleaner, simpler qualification process
• Regulated investment structures
• No property maintenance or hidden costs
• More predictable investment timelines
• Lower risk of legislative changes affecting property markets
• Passive investment opportunities through professional fund managers
• Clear and structured paths to exit after five years

For many, these benefits outweigh the older property-based route.

Things to Consider Before Applying

Before moving forward, consider:

• The long-term performance and liquidity of your chosen fund
• Exit rules for investment products
• Potential tax implications in Portugal and your home country
• The need for ongoing renewals every two years
• Compliance with the stay requirements
• The citizenship Portuguese language test (A2 level) if you plan to apply after 5 years

Final Thoughts

Qualifying for the Portugal Golden Visa without real-estate investments is now easier, faster, and more streamlined than ever. Whether you choose an investment fund, cultural project, scientific research contribution, or a business route, each option fully meets the updated Portugal Golden Visa requirements while offering a clear and predictable path to residency.

With a solid understanding of the Portugal Golden Visa cost and a well-prepared Portugal Golden Visa application, investors can secure a European residence permit that leads to long-term freedom, flexibility, and a potential EU passport—without owning a single property.