Portugal’s Golden Visa has long been an attractive program for non-EU investors seeking residency through significant investments, particularly in real estate. However, as of April 2025, the program underwent significant reforms, particularly affecting real estate investments. Understanding these changes is essential for prospective investors exploring residency options in Portugal.
Table of Contents
Key Changes to Portugal’s Golden Visa Program
In late 2023, the Portuguese government introduced reforms to the Golden Visa program under the Mais Habitação (More Housing) bill. The goal of these changes was to tackle housing affordability and curb real estate speculation. As a result, the program saw a significant shift, particularly in terms of the investment options available for residency. Here’s a closer look at the changes:
Real Estate Investment Exclusion
Previously, purchasing real estate was a major way to qualify for a Golden Visa. As of 2025, real estate investments are no longer allowed under this program. This marks a significant departure from the earlier focus on real estate as the primary investment method. For further details on these reforms, read more about the changes here.
Remaining Investment Options for Golden Visa
Despite the exclusion of real estate, several investment avenues remain available for obtaining a Portuguese Golden Visa. Investors can still pursue the following options:
1. Fund Subscription
Investors can qualify for the Golden Visa by investing at least €500,000 in a qualified investment fund. These funds are usually directed towards sectors like energy, industry, and technology (excluding real estate activities). For more information on this investment route, visit this source.
2. Cultural Donations
Those interested in supporting Portugal’s cultural heritage can make a donation of at least €250,000 to fund the preservation of national cultural sites or support the arts. This option offers an exciting way to contribute to Portugal’s rich history while securing residency. Learn more about this option here.
3. Scientific Research
For those with an interest in science and innovation, contributing a minimum of €500,000 to scientific research projects in Portugal remains a valid path to obtaining a Golden Visa. This is an excellent opportunity for investors looking to foster technological growth and development in Portugal. More details can be found here.
4. Job Creation
Investors can also qualify by creating a Portuguese business that generates at least five permanent jobs for local residents. This route encourages economic growth and job creation, providing tangible benefits to Portugal’s workforce. Read more about this option here.
Alternative Residency Options in Portugal
For individuals seeking residency in Portugal without engaging in significant investments, several other visa options are available:
D7 Visa
The D7 Visa is designed for individuals with passive income, such as pensions or rental income. Applicants need to demonstrate a minimum income of €820 per month to qualify. This is a great option for retirees or those with steady passive income streams. For more on the D7 Visa, check out this source.
Digital Nomad Visa
For remote workers looking to relocate to Portugal, the Digital Nomad Visa offers a viable option. Applicants must show proof of a minimum monthly income of €3,280, or €4,096 for those with dependents. This visa is tailored for individuals who can work independently from anywhere. More information is available here.
Important Considerations for Applicants
While the Golden Visa reforms have significantly impacted real estate investments, there are still various ways to secure residency in Portugal. However, applicants should be aware of some important considerations:
Processing Times
Processing times for Golden Visa applications have resumed but may take longer than before. It’s essential for prospective applicants to plan ahead and allow for longer wait times when applying. Learn more about this from Schengen News.
Path to Citizenship
Golden Visa holders can apply for Portuguese citizenship after five years of residency. To meet the residency requirement, applicants must spend an average of seven days per year in Portugal. More details about the citizenship process can be found here.
Conclusion
Although Portugal’s Golden Visa program has shifted dramatically, removing real estate as an investment option, other pathways still exist for those looking to obtain residency. Fund subscriptions, cultural donations, scientific research, and job creation are viable alternatives for investors seeking to make a positive impact in Portugal. Furthermore, options such as the D7 and Digital Nomad visas provide additional ways for individuals to establish residency without the need for large investments.
Investors and individuals looking for residency in Portugal should explore these alternative routes and consider their specific needs and goals when choosing the most appropriate visa.
