From Dreams to Destinations
From Dreams to Destinations
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If you want to live, work, or study in Europe, the Portuguese Golden Visa can open the door for you.
Real estate used to be the most popular investment. In 2023, the government limited property-based investments.
The Golden Visa is not ending, but the rules are changing.
In this guide, we will show you the latest rules for 2025, explain which investments still work, what requirements you need to meet, and how the timeline looks.
After reading this, you will know exactly how to move forward with the Portugal Golden Visa in 2025.
Yes, Portugal’s Golden Visa is still running in 2025.
In 2024, Portugal approved 4,987 applications, including principal applicants and their families. That is a 72% increase compared to 2023.
Most investors came from the United States, China, Russia, the United Kingdom, and India.
Since the program started, more than 12,700 main applicants and 20,400 family members have joined. Together, they brought over €7.3 billion into Portugal.
If you want to apply now, you need to understand these updates carefully.
One big change is that property purchases in high-demand urban areas like Lisbon, Porto, and the Algarve no longer qualify.
The government passed Law no 56/2023 on October 6, 2023, to remove real estate as a qualifying investment.
Now, if you want a Golden Visa, you need to look at alternatives like funds, businesses, or culture and research projects.
The Portuguese Parliament approved changes to the Citizenship Law on 28 October 2025. Applicants will now need 10 years of legal residence to apply for citizenship.
Property prices in Lisbon, Porto, and the Algarve went up a lot. Too many investors were buying homes just to get residency.
Many locals and politicians spoke out. They said the Golden Visa helped rich foreigners but didn’t solve local housing problems.
The EU and international groups also asked Portugal to make the program more transparent.
So, the government listened. They decided to stop investment routes that focused only on buying real estate.
Even though Portugal removed the real estate option, you still have ways to qualify for the Golden Visa.
As of 2025, there are four main investment routes you can use.
This route is now the most popular. You need to invest at least €500,000 in a qualifying fund. The fund must invest at least 60% in Portuguese companies and avoid restricted residential real estate.
Most funds are closed-end, meaning they have fixed terms of 8-12 years and limited liquidity. Open-end funds exist but are rare.
You can choose low-risk funds, like infrastructure or agriculture, or high-growth sectors, like tech, hospitality, or digital assets.
You must hold the fund units for at least five years to maintain your Golden Visa, no matter how long the fund lasts.
Expected returns vary by risk:
Portugal offers two business-focused options:
This route is perfect if you want to run a business in Portugal and directly support the local economy.
You can invest €500,000 in scientific research carried out by public or private institutions recognized in Portugal’s national science and technology system. Your funds help develop innovation and support projects that drive technological and scientific growth in the country.
You can contribute €250,000 to arts or cultural projects in Portugal. This is the lowest investment option under the Golden Visa.
Eligible recipients include:
You might be wondering how the changes affect you if you have already applied. The government has introduced new rules, but they also protect earlier applicants.
Let’s break it down.
If you submitted your Golden Visa application before the October 2023 reform, the law protects you. You can follow the old rules even if your investment route, like buying real estate or transferring capital, is no longer allowed.
Your application stays valid if it was:
If you already have a residence permit, you can renew it under the old rules. Family members included in your application can also renew or join you. You can still gather supporting documents as before.
When you renew, your permit becomes a “residence permit for immigrant entrepreneurs.” The physical presence requirement stays the same - you only need to spend 7 days per year in Portugal.
If your application was submitted before the new law and is complete, it will continue under the 5-year rule.
Applications filed after the new law or considered incomplete will follow the 10-year rule. Lack of a formal grandfather clause may lead to constitutional review.
Portugal faced big delays under the old immigration agency, SEF. To fix this, the government created a new agency, AIMA. AIMA focuses on clearing thousands of pending applications.
By early 2025, about 440,000 applications had been analyzed. Around 130,000 cases still waited for approval. About 50,000 cases came from Golden Visa applicants.
AIMA introduced digital tools to make processing faster. They now use an automated system for biometric appointments, usually within 30-90 days of submitting online.
If you apply now, you may get quicker results. Older cases can still face delays of up to 40 months. In some cases, legal action can force AIMA to act.
Courts have ordered AIMA to issue pre-approvals and schedule biometrics. This does not guarantee approval. It only enforces your right to a timely decision. You need a lawyer to see if your case qualifies.
Portugal removed the real estate route from the Golden Visa, but investors still have strong reasons to consider residency here.
Let’s explore 10 reasons why Portugal remains attractive in 2025.
Portugal grew into one of Europe’s most stable economies. Foreign company branches, totaling 10,705, contributed €38 billion to GDP and created 682,000 jobs. Their productivity per unit runs 67% higher than local firms. You can invest in sectors like tourism, tech, or renewable energy.
Portugal now promotes investment through certified funds. Investors can contribute as little as €500,000, depending on the fund. Around 15% of total Golden Visa inflows came from fund investments in 2022.
You can diversify your portfolio and support local startups. Funds require less hands-on management compared to property.
Residency in Portugal gives you access to the Schengen Area up to 90 days within any 180‑day period. Portugal ranks 6th in the world for quality of life with a score of 81.4/100. You can use Portugal as a base to explore Europe or expand your business.
Portugal ranked the 7th safest country in the world according to the 2025 Global Peace Index. You can enjoy a calm lifestyle, pleasant weather, and scenic landscapes. Families and professionals can find a comfortable home without worry.
The Non-Habitual Resident (NHR) program continues for earlier approvals. NHR offers a flat 20% tax rate for high-value activities and exemptions on foreign income. You can optimize finances legally.
Portugal’s start-up scene is growing quickly, with the number of companies rising 16% to 4,719. These businesses made €2.6 billion and created more than 26,000 jobs. Lisbon ranks 15th in Europe for new start-ups. You can invest in these companies.
New rules extend residency to 10 years for many applicants. You can still secure citizenship if you follow the current pathways. Citizenship allows EU rights, freedom to work, and business opportunities across Europe.
Portugal has a stable government, fair laws, and clear rules. Many foreign companies trust local regulations and continue to invest. You can plan your business or investments without worrying about sudden changes.
In Portugal, families can enjoy excellent healthcare and international schools near Lisbon and Porto. You can also enjoy rich culture, festivals, and local cuisine.
Several European countries still welcome investors through Golden Visa programs in 2025. You can find strong options in Greece, Hungary, Italy, Latvia, Cyprus, and Malta.
Among them, Portugal and Greece remain the most popular and well-known choices.
Let’s explore the cheapest EU residency programs 2025.
| Country | Minimum Investment | Real Estate Option | Family Inclusion | Processing Time | Minimum Stay Requirement |
| Portugal | €250,000 | No | Yes | 6+ months | 7 days per year |
| Greece | €250,000 | Yes | Yes | 6+ months | None |
| Hungary | €250,000 | No | Yes | 5+ months | None |
| Italy | €250,000 | No | Yes | 4+ months | None |
| Latvia | €50,000 | Yes | Yes | 3+ months | Visit once a year |
| Cyprus | €300,000 | Yes | Yes | 9+ months | Visit once every 2 years |
| Malta | €169,000 | Yes | Yes | 6+ months | None |
Portugal and Greece lead the European Golden Visa market. Hungary and Italy attract business investors. Latvia offers an affordable gateway to Europe.
Cyprus and Malta stand out because they offer permanent residency from the first day.
The Portugal Golden Visa is still active. The government made big changes in October 2023, but did not stop the program. Real estate and capital transfer routes are removed, but you still have other options. You can apply through regulated investment funds or support cultural and heritage projects.
The program is not closed. The government only reduced the list of eligible investments. You can still apply by investing at least €500,000 in approved funds or by contributing €250,000 to cultural or heritage projects.
The Portuguese Parliament approved changes to the Citizenship Law on 28 October 2025. Applicants now need 10 years of legal residence before applying for citizenship.
The Portugal Golden Visa gives you a temporary residence permit that lasts two years. You can renew the permit after the first term. Once you complete five years of legal residence, you can apply for permanent residency.
Real estate is no longer part of the investment options. You can still find property-based residency programs in other countries. Greece, Latvia, Cyprus, and Malta continue to offer residence through real estate investment.
If you want European citizenship, Portugal’s Golden Visa ranks higher than Italy or Greece. If you only want residency with no minimum stay requirement, Greece or Italy may suit you better.
Processing time varies with the backlog at AIMA (formerly SEF). Currently, it takes over one year from investment to receive your residence card.
You must bring the minimum investment into Portugal yourself. You cannot borrow from a Portuguese bank for that amount. You can use a loan from a non-Portuguese bank.
Having a lawyer helps you handle legal procedures and a successful application.
No. If you spend less than 183 days per year in Portugal, you are not a resident. You only pay taxes on income earned in Portugal.
Portugal has a low cost of living compared to most European countries.
No, registration and contributions are not required. You do need private health insurance to cover medical costs.
You only need to stay in Portugal for seven days per year.
A fiscal number, or NIF, is required for official transactions in Portugal. You need it for bank accounts, investments, and other legal processes.
Yes. The program is open to all nationalities.
Most investors previously chose real estate, but now funds are the most popular investment route.
Greece, Latvia, Cyprus, and Malta offer residence through real estate investment.
Yes. After 10 years of residence, you can apply for Portuguese citizenship.
Yes, Portugal allows dual citizenship.
The first card is valid for two years with a 14-day stay requirement. Renewals last three years each, with at least 21 days in Portugal.
Citizenship eligibility:
Golden Visa does not require a test. Permanent residency and citizenship require A2-level Portuguese, including basic reading, writing, and speaking.
WeRWealthy guides you step by step through the Portugal Golden Visa process under the new 2025 rules.
You start with a personal consultation where we learn your goals, finances, and family situation. Then we recommend the best investment route for you.
Our team will handle all paperwork, legal checks, and government coordination, and help you avoid mistakes. After approval, we will continue to support you with renewals, family inclusion, relocation, and wealth planning.
WeRWealthy helps you pick investments based on your goals. You get a trusted partner who makes your Golden Visa or citizenship journey smooth and secure.
Our expert-driven process is faster, easier, and completely hassle-free.