⚠️ Important update: The Portuguese government announced on February 16, 2023 that that the Golden Visa program will soon close. However, for the time being it’s still possible to submit applications. See here for the latest updates
As far as Golden Visa programs go, the Portuguese program is also relatively accessible. These are the best options for most people:
Table of Contents ↺ History of the Portuguese Golden Visa Requirements for obtaining the Golden Visa Who is eligible for the Golden Visa? Which requirements do you need to meet? What are the available investment options? 2022 Golden Visa changes 2023 end of the Golden Visa program The application and renewal process How to prepare and apply for the Portuguese Golden Visa Getting a NIF and opening a Portuguese bank account Identifying and making your investment The investment fund option Currently available funds The real estate option Buying directly from a developer Using a buyer’s agent The Portuguese company option Gathering documentation Submitting the application Frequently Asked Questions (FAQs) about the Portuguese Golden Visa Program Webinars
Portugal Introduces New Changes To Its Golden Visa Program, Effective From January 1
Getting super nerdy about topics that most people find both complicated and perhaps even boring. Stuff like international taxation, banking, and residency programs.
Topics such as the Golden Visa in Portugal, where most of the available information is biased and incomplete information published by advisors and law firms who want you to hire them to get the full picture, are really among my favorites to explore.
This extensive guide about the Portuguese Golden Visa was first published back in 2018 and has continuously been updated and expanded over time. Over the years, I’ve enlisted the help of several the most experienced lawyers in the Golden Visa field.
New Updates On Portugal Golden Visa Regulation Changes 2021 2023
If you still have questions after reading this guide and exploring our community forum (shoutout to the amazing members there who has helped form this guide!), please let me know and I’ll do my best to find and share the answers to your remaining questions!
That said, I want to make it clear that I’m neither a lawyer nor a financial advisor, and no information in this article is to be taken as legal or financial advice. Do your own due diligence before taking any action.
By signing up for certain services through links or introduction forms in this article you help support my work as I may get a small referral fee. In any case, I will only recommend products that I believe are the best fit for my readers. Read more about this policy here. If you find any helpful products or services not mentioned here, please reach out so I can consider including those, too.
Portugal Golden Visa
What’s unique about the Golden Visa permit is that the investor only has to spend about seven days per year in Portugal to maintain the residency, while still reaping all the benefits of being an EU resident—including visa-free travel in the entire Schengen area.
While the program has benefited more than 11, 628 foreign investors so far, it has also been beneficial for the Portuguese economy. As of January 2023, the total investment into Portugal as a direct result of the program has reached a whopping €6, 797, 500, 635. That’s more than six
Despite this, the current Socialist government of Portugal has announced the end of the program. The details aren’t clear yet, but since the party has an absolute majority in the parliament, they can push through any regulation they want, as long as it’s constitutional. To stay in the loop as things unfold, sign up for my Golden Visa newsletter here.
Working With A Portugal Golden Visa Lawyer: All You Need To Know
By far the leading share of Golden Visas have been issued to Chinese nationals (although their share has been declining recently), followed by Brazilian, South African, Turkish, and Russian citizens. In the past few years it has also been extremely popular with US citizens, with the US even taking the top spot in November of 2021.
Statistics about Portugal’s Golden Visa program from the beginning in 2012 until January 2023. Only fully approved applications included. Data source: SEF. Credit: Nomad Gate. License image for free.
The Portuguese Golden Visa program was updated on January 1, 2022. This guide is already reflecting the new rules, but if you’d like to learn more about what changed and the impact on existing and future investors, read my guide to the 2022 Golden Visa changes here.
No Changes To Portugal Golden Visa Until The End Of The 2020
The program is unfortunately coming to an end in 2023. As I write this (February 22, 2023), the details are severely lacking. The government is currently soliciting public feedback on a range of ideas presented in an
Due to the ruling party having an absolute majority, there’s little doubt that the program will indeed close. What is unclear is what the deadline will be for submitting your application. However, for the time being the program remains open, and if you submit you application now you will be processed in accordance with the rules in effect at the time.
So how much time do you have to apply if you want to get in before the program closes? It’s hard to tell, but these are the steps that need to happen before the law changes:
Choosing A Lawyer For Portugal's Golden Visa
I’ve heard from lawyers that the parliamentary process usually takes about two months, and the signing by the president takes another one to two weeks (if everything is OK with the law). But there are no guarantees, so let’s say that it may take anything from weeks to months after March 16 for the program to actually end for new submissions.
Beyond deciding on and finalizing your investment, at a minimum you need a Portuguese tax number and bank account, as well as a criminal background check from your home country. If you are serious about getting in before the program closes, you should start these processes
Depending on the investment you choose, it may only take a few days from actually making the investment until you get your application submitted and “locked” in the immigration agency’s (SEF) system—meaning it’ll be reviewed according with the rules in place on that day.
Global Law Experts
In other words, if you start preparing today, you can be ready to make your investment once there’s a bit more clarity about how the final law will look like.
⚠️ Webinar alert Insider Hacks to Ensure Your 2023 Portugal Golden Visa Before They’re Gone for Good! Hosted by: Pela Terra 📼 Watch webinar replay The Insight of Golden Visa Ending—Make the Cut! Hosted by: Mercan Group 📼 Watch webinar replay The end is near. How to proceed before the closure of the Golden Visa. Hosted by: Optylon Krea 📼 Watch webinar replay The application and renewal process
Initially, the interview would take place in the district where the investment was made. Nowadays, however, SEF will allow you to book the interview in any district of your choice. This change has helped reduce the waiting time overall, especially in the more popular districts such as Lisbon and Faro.
Portugal Golden Visa Programme 2022
Usually, you complete the application through your lawyer, and it usually takes up to 2-3 months for pre-approval. It is technically possible to do everything on your own, but I wouldn’t recommend it.
2023 Update: As per January 2023, pre-approvals are currently taking about a year (caused by various issues, including COVID delays and a huge number of applications at the end of 2021), up from a normal processing time of about three months. SEF has just announced automatic online renewals, which hopefully will let them clear the backlog more swiftly going forward, leading to quicker processing for applications in 2023 onwards.
If you want to bring along your family members, their application is submitted simultaneously. An application fee of €539.66 is paid for the main applicant and each member of the family.
Portugal Golden Visa 2023 Update: No Retrospective Changes
When your application is approved you pay a residence permit issuance fee of €5, 391.56 for each applicant. After ten to twenty days, you should receive your residency card valid for
Your residence card will allow you to live and work in Portugal, plus travel freely within the Schengen countries (you also need to bring your passport), without applying for any visas.
To renew your residence permit and receive a new residence card, you need to go through a renewal application process between 30-90 days before your current residence card expires.
Portugal Golden Visa Costs, Fees, And Taxes On Real Estate Investment
As of 2023, the renewals are now online (they used to require another in-person SEF appointment), with no further biometric appointments needed. You still need to pay another application fee of €539.66 per person, and once again, the residence permit fee of €2, 696.29 per person.
Your new residence card is valid for two years, and you again need to spend at least fourteen days in Portugal during this period to qualify for further renewals or citizenship.
After the fifth year, you can apply for permanent residency or citizenship (you can choose which one). If you don't want to apply for either, you can continue renewing your Golden Visa every two years (at the end of year 6, year 8, and so on).
Residency Permit In Portugal
While the process isn’t very complicated, it does involve gathering a lot of documentation—both in Portugal and in your country of origin. It will be beneficial to
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