Portugal Citizenship by Investment

Golden Visa provides a relatively flexible pathway toward citizenship compared with traditional immigration routes.

Applicants are not required to reside in Portugal full-time, but they must maintain their investment and comply with minimum physical presence requirements while holding their residence permit.

After five years, they may apply for citizenship provided they meet language and legal eligibility criteria.

To qualify for the initial Golden Visa residence permit and eventually apply for Portuguese citizenship, applicants must meet several legal and financial eligibility requirements.

The programme is designed for non-EU nationals who wish to obtain residency in Portugal through a qualifying investment and later pursue citizenship through naturalisation.

In addition to completing a recognised investment, applicants must demonstrate good character, financial transparency, and a genuine connection to Portugal during the residency period.

The main requirements include:

• Nationality: The applicant must be a national of a country outside the European Union, European Economic Area, and Switzerland, as the programme is specifically designed for third-country nationals

• Minimum age: Applicants must be at least 18 years old at the time of submitting their Golden Visa application
• Clean criminal record: Individuals must provide criminal record certificates from their home country and Portugal. To qualify for citizenship later, applicants must not have been convicted of a crime punishable by three or more years of imprisonment under Portuguese law
• Source of investment funds: The capital used for the investment must originate from outside Portugal and must be demonstrably obtained through legal and legitimate sources
• Financial compliance: Applicants must show that they do not have outstanding tax liabilities or debts in Portugal and must remain compliant with Portuguese financial regulations
• Minimum physical presence: To maintain residency status, Golden Visa holders must spend at least 7 days in Portugal during the first year, followed by 14 days during each subsequent two-year period
• Portuguese language proficiency: When applying for citizenship after five years, applicants must demonstrate A2-level Portuguese language ability, showing they can understand and use basic everyday expressions and communicate in simple situations

Meeting these criteria allows investors to maintain their Golden Visa residency status and eventually apply for Portuguese citizenship, gaining the rights and benefits of EU nationality.

To obtain residency through Portugal’s Golden Visa programme, applicants must make a qualifying investment that contributes to the Portuguese economy or society. In recent years, the programme has undergone significant reforms.

Under the “Mais Habitação” housing law introduced in late 2023, traditional investment routes such as residential real estate purchases and simple capital transfers to Portuguese bank accounts were removed from the programme.

As a result, the current Golden Visa investment options focus on activities that promote:

• Economic development
• Innovation
• Scientific advancement
• Cultural preservation

Applicants must choose one of several approved investment categories when applying for the programme.

Investment and Venture Capital Funds

One of the most common routes is investing in regulated venture capital or investment funds. This option requires the acquisition of participation units in investment funds that are dedicated to capitalising Portuguese companies. The minimum investment threshold for this route is €500,000, and the investment must generally be maintained for at least five years in order to meet the residency and citizenship timeline requirements.

Investment and Venture Capital Funds

One of the most common routes is investing in regulated venture capital or investment funds. This option requires the acquisition of participation units in investment funds that are dedicated to capitalising Portuguese companies. The minimum investment threshold for this route is €500,000, and the investment must generally be maintained for at least five years in order to meet the residency and citizenship timeline requirements.

Scientific Research

Another qualifying investment category involves supporting scientific research. Applicants may contribute funds to public or private research institutions that form part of Portugal’s national scientific and technological system. This route also requires a minimum investment of €500,000. However, if the investment is made in a designated low-density region, the required amount may be reduced by 20 percent.

Arts and Cultural Heritage

Investors may also qualify by supporting arts and cultural heritage projects in Portugal. This includes funding artistic production initiatives or contributing to projects aimed at preserving and restoring Portugal’s national cultural heritage. The minimum investment required for this option is €250,000, although it may be reduced when the project is located in a low-density area.

Investment in Portuguese Businesses

Another pathway involves business investment and job creation. Applicants may invest at least €500,000 in an existing Portuguese company, provided that the investment results in the creation or maintenance of at least five permanent jobs for a minimum of three years. Alternatively, investors may qualify without a minimum financial investment by creating at least ten new full-time jobs in Portugal through a newly established business. In low-density areas, the requirement may be reduced to eight jobs.

Qualifying Investment Options

The minimum investment depends on the chosen route. Real estate purchases and simple capital transfers are no longer eligible options under the programme.

• Arts and cultural heritage: €250,000 investment supporting artistic production or preservation of Portuguese cultural heritage (reduced in low-density areas)
• Investment funds: €500,000 contribution to approved venture capital or investment funds that support Portuguese companies
• Scientific research: €500,000 investment in research projects conducted by recognised scientific institutions
• Business investment: €500,000 invested in an existing Portuguese company that creates or maintains at least five permanent jobs for at least three years
• Job creation: Establishing a business that creates at least 10 jobs (or 8 in low-density areas), with no fixed minimum investment amount beyond operational costs

Government and Application Fees

Applicants must pay several official fees during the Golden Visa application and renewal stages.

• Initial application fee: approximately €6,045 per person (main applicant)
• Processing fee: around €605 for the main applicant and approximately €83 for each dependent
• Residence permit card issuance: about €150.70 per person
• Renewal fees: roughly €605 per person at each renewal stage, usually every two years

Administrative and Ongoing Costs

Additional costs arise throughout the application and residency period.

• Health insurance: typically costs at least €400 per person annually, depending on the coverage level
• Document preparation: translation, notarisation, and authentication of official documents
• Tax registration: obtaining a Portuguese tax number (NIF) and appointing tax representation if required
• Banking arrangements: opening and maintaining a Portuguese bank account for investment transfers

Final Citizenship and Passport Costs

Once the five-year residency requirement has been fulfilled, applicants may proceed to citizenship.

• Portuguese language exam: around €72 for the A2-level CIPLE test required for citizenship
• Naturalisation application fee: approximately €250 per person
• Portuguese passport issuance: about €65 if issued within Portugal or roughly €100 through a Portuguese consulate abroad

Although the investment amount remains the same regardless of family size, most application and residency fees are charged per person. This means the total cost of the programme increases when spouses, children, or other dependents are included in the application.

While the current requirement for citizenship eligibility is five years of legal residency, the Portuguese Parliament has discussed proposals that could extend the requirement to 10 years.

As of early 2026, these changes have not been enacted into law. Currently, the five-year period begins from the date the initial residency application is submitted.

Obtaining Portuguese citizenship through the Golden Visa programme involves a multi-stage process that begins with residency and culminates in naturalisation after five years. The process can be broadly divided into three main phases.

Phase 1: Obtaining the Golden Visa (Residency)

The first step is securing residency in Portugal through a qualifying investment.

• Investment Selection: Applicants must choose an eligible investment option
• Administrative Setup: Before proceeding, investors must obtain a Portuguese tax number (NIF) and open a Portuguese bank account to facilitate the investment
• Finalising the Investment: The selected investment must be completed, with funds transferred from abroad into the Portuguese bank account
• Pre-Application Submission: A digital application is then submitted through the online portal of the Agency for Integration, Migration and Asylum (AIMA), including all required documentation
• Biometrics Appointment: After preliminary approval, the main applicant and any dependents must travel to Portugal to attend a biometrics appointment where fingerprints, photographs, and signatures are collected
• Residence Permit Issuance: Once the application is fully approved and government fees are paid, residency cards are issued to the applicant and eligible family members

Phase 2: Maintaining Residency (Five-Year Period)

Golden Visa holders must meet several conditions during the five-year residency period to remain eligible for Portuguese citizenship.

• Minimum Stay Requirement: Applicants must spend at least 7 days in Portugal during the first year and 14 days during each subsequent two-year period. In total, this amounts to a minimum stay of 35 days over five years
• Maintaining the Investment: The qualifying investment must be maintained for the entire five-year period
• Residency Renewals: Residence permits must be renewed periodically, typically every two years. During renewal, applicants must demonstrate that the investment remains active and that the minimum stay requirements have been fulfilled
• Clean Criminal Record: Applicants must maintain a clean criminal record in both Portugal and their country of origin throughout the residency period

Phase 3: Applying for Portuguese Citizenship

After completing five years of legal residency, Golden Visa holders may apply for Portuguese citizenship through naturalisation.

• Language Requirement: Applicants must demonstrate basic proficiency in Portuguese, usually by passing the CIPLE A2-level language exam or completing an approved Portuguese language course
• Submitting the Citizenship Application: The application is submitted to the Institute of Registries and Notary (IRN) or through a National Support Center for Migrants (CNAIM). Required documents generally include the residence permit, birth certificate, and proof of Portuguese language proficiency
• Government Application Fee: A government fee of approximately €250 is payable when submitting the naturalisation application
• Processing and Approval: Authorities verify the applicant’s residency history and criminal record. Once these checks are completed, the file is forwarded to the Minister of Justice for final approval. Processing typically takes between 7 and 12 months
• Issuance of Citizenship Documents: After approval, the new citizen receives a Portuguese national ID card (Cartão de Cidadão) and can apply for a Portuguese passport

When investing large sums of money into a foreign country, ensuring everything is managed lawfully and carefully is critical. For immigration or legal support, speak with one of our experts at Total Law today on +44 (0) 333 305 9375, or get in touch online.

While the Golden Visa is a well-known route for investors, Portugal offers several additional ways to obtain citizenship that do not include investing. These pathways are generally based on residency, family connections, or historical ties to the country.

Naturalisation through Residency

Foreign nationals who legally reside in Portugal can apply for citizenship after five years of residence. This route is commonly used by individuals who move to Portugal for work, study, or long-term living.

Marriage or Long-Term Partnership

Foreigners married to or in a recognised long-term relationship with a Portuguese citizen may apply for citizenship after several years of the relationship, provided they can demonstrate genuine ties to Portugal.

Citizenship through Ancestry

Individuals with Portuguese heritage may be eligible for citizenship through descent. This includes grandchildren of Portuguese citizens and certain groups with historical links to Portugal, such as descendants of Sephardic Jews.

Birth or Adoption

Children born to Portuguese parents are automatically eligible for citizenship. In some cases, children born in Portugal to foreign parents may also qualify if their parents have lived in the country for a period of time. Citizenship can also be granted through legal adoption by Portuguese nationals.

Residency Visas Leading to Citizenship

Several Portuguese residency visas can eventually lead to citizenship after five years of legal residence. These include visas for retirees or individuals with passive income, digital nomads, entrepreneurs, and highly skilled professionals.