Portugal Citizenship by Investment: Your Complete Guide for 2025

Portuguese citizenship presents a wide array of benefits, including the ability to live, work, and study across the EU, visa free access to 174 countries, and greater financial freedoms. For individuals seeking out these benefits, Portugal citizenship through investment is an appealing option.

There are many different ways to obtain Portuguese citizenship, with one of them being through the popular Portugal Golden Visa program. After investing in the country and maintaining your investment for five years, you will be able to apply for Portuguese citizenship.

In this article, we’ll look at the various investment options, what is required for a successful application, and the benefits of being a Golden Visa holder.

Portugal Citizenship by Investment in a Nutshell

The Portugal Golden Visa program has become highly attractive to global entrepreneurs and high-net-worth individuals seeking Portugal residency and strategic advantages such as tax efficiency and enhanced global mobility​​.

One of the program’s major appeals is its flexibility. Investors must maintain the investment for five years and only spend an average of seven days per year in Portugal.

After five years, they can apply for permanent residency and citizenship, provided the applicant meets language proficiency requirements and has maintained a clean criminal record.

It’s important to know that it is not possible to immediately get citizenship through investment in Portugal. The Portugal Golden Visa is an indirect route to Portuguese citizenship, with citizenship only possible after five years of legal residency in the country, and provided you meet the requirements – having a clean criminal record and having proof that you speak Portuguese (A2 level).

If you are looking to kickstart your journey to Portuguese citizenship through the Portugal Golden Visa, get in touch with our citizenship and residency division, Global Citizen Solutions, to discuss how you can get the process started.

About the Portugal Citizenship by Investment Program

The Portugal Golden Visa program quickly became one of the most popular programs of its kind since it was created by the Portuguese government in 2012. The program was launched to attract foreign investment during the economic recovery from the 2008 financial crisis. More than €7 billion has been invested in the country through the scheme since its inception. 

The Portuguese government allows non-EU citizens to obtain a Portuguese resident permit by making a qualifying investment in the country. The program has proven particularly attractive amongst Americans moving to Portugal.

So, how to get Portuguese citizenship through investment? While real estate investments and capital transfers have been eliminated as investment options, there remain several attractive investment options on the table to ultimately secure citizenship by investment in Portugal.

1. Investment fund subscription: Make a financial contribution to Portuguese investment funds (for example, private equity funds or venture capital funds) worth at least €500,000
2. Cultural heritage or investment in the arts: Invest or donate to the arts or reconstruction of national heritage, with the minimum investment requirement being €250,000
3. Creation of ten jobs: Create and maintain ten jobs during the required period
4. Share capital and job creation: Venture capital funds for a commercial company in Portuguese national territory or reinforcement of a company’s share capital. This company needs to have its head office in Portuguese territory with a minimum investment of €500,000 combined with the creation of five full-time jobs or maintaining ten jobs (five of which need to be permanent).

We will delve into the investment options later in the article.

Note: The minimum investment amounts for options 2 and 3 can be reduced by 20 percent if the investment activity takes place in a low-density area. These regions are defined as having fewer than 100 inhabitants per square kilometer or a GDP per capita of less than 75 percent of the national average.

Benefits of Portugal Citizenship by Investment

Although the Portugal Golden Visa is a residency by investment program and not a citizenship by investment program, there is the possibility to secure citizenship after five years. Below, we outline the advantages of the Portugal Citizenship by Investment Golden Visa program. 

Citizenship: After five years of maintaining a qualifying investment and meeting residency requirements, you can apply for Portuguese citizenship. This grants you full European Union (EU) citizenship rights, including the ability to live, work, and study anywhere in the European Union.

Minimal stay: Portugal’s Golden Visa has minimal residency requirements unlike many residency programs. You must only spend seven days per year over a five-year period in Portugal to maintain your residency status. This makes the Portugal Golden Visa program ideal for investors who wish to keep their primary residence elsewhere.

Visa-free travel: As a Portugal Golden Visa holder, you gain the right to travel visa-free across the Schengen Zone, which includes 26 European countries. This is highly beneficial for frequent travelers and business professionals.

Family members: The Golden Visa extends to immediate family members, including spouses, dependent children, and, in some cases, dependent parents. This allows your family to enjoy the same residency benefits, including access to Portugal’s education and healthcare systems.

Tax benefits: Portugal offers favorable tax incentives for residents under the Non-Habitual Resident (NHR) Tax Regime. For example, many foreign-sourced incomes are tax-exempt for up to ten years, which is particularly attractive to retirees, entrepreneurs, and investors.

Has the NHR ended?

Yes, the State Budget Law for 2024 determined the end of the NHR regime from 1 January 2024, with the transition period ending in March 2025. However, the scheme has been replaced by the Tax Incentive for Scientific Research and Innovation, which has now been implemented. To learn more, refer to the New NHR guide by our residency and citizenship partners, Global Citizen Solutions.  

Portugal's Citizenship by Investment Eligibility Requirements

Who can apply for a Golden Visa in Portugal?

The Portugal Golden Visa is open to any non-EU citizen who has a clean criminal record and the capital to invest in one of the qualifying investment options of the investment visa.

Portugal Golden Visa eligibility criteria

The Golden Visa is intended for non-EU citizens who wish to obtain temporary residency in Portugal through substantial investments in the country.

To qualify for the Portuguese investment visa program, individuals must:

• Be non-EU, non-Swiss, or non-EEA nationals
• Be able to demonstrate the source of their investment funds (with a minimum investment of €250,000)
• Have a clean criminal record, proving no conviction for a crime punishable in Portugal for one year or more
• Meet the minimum stay requirement of spending at least 14 days in Portugal for each two-year period

Prospective Golden Visa applicants will also have to get a Portuguese tax identification number (NIF) and open a Portuguese bank account. If you intend to live in Portugal full-time, you will be required to provide proof of medical insurance.

Getting a Portuguese tax identification number

The NIF (Número de Identificação Fiscal) is your tax identification number in Portugal. It is a unique identifier assigned by the Portuguese tax authorities and is essential for several transactions in Portugal, such as opening a bank account, buying property, signing a contract, and paying taxes.

You can apply for an NIF by attending an appointment at the local tax office (Finanças), Citizen Shop, or at a counter that provides the Citizen Card. When you appoint a legal representative, such as a lawyer or an accountant, they will also apply for it on your behalf.

Opening a Portuguese bank account

You’ll also need to open a Portuguese bank account to apply for the residency by investment, and should be done after getting a NIF. It is relatively easy to simply walk into a bank branch and open an account, while some banks allow you to do that online.

Global Citizen Solutions can assist you in getting a Portugal NIF number and setting up a Portuguese bank account remotely.

Portugal Citizenship by Investment Requirements

To officially qualify for Portuguese citizenship through the Portugal Golden Visa, you must meet the following requirements.

• You must have an average of seven days per year over your five-year residency period in Portugal
• You must have a clean criminal record
• You have to pass a Portuguese language exam
• All taxes in Portugal must be settled without an outstanding balance

To apply for Portuguese citizenship by investment, you will need to present the following documents:

• Completion of the required forms
• Birth certificate, ID, or valid passport from your home country
• Proof of passing the A2 Portuguese language exam (CIPLE)
• Criminal record certificate(s)
• A document from the Portuguese Agency of Integration, Migration, and Asylum (AIMA, formerly SEF) to confirm that you have been a legal resident in Portugal for a minimum of five years

You can check the IRN website for further information.

How to Apply for Portuguese Citizenship Through the Portugal Golden Visa

The online application for Portuguese nationality is available if you are above the age of 18 and have legally resided in Portugal for a minimum of five years, if submitted by a lawyer or a solicitor.

If you submit the application yourself, you will need to go to the Institute of Registration and Notary Affairs, the Central Registry in Lisbon, or their local Portuguese Consulate.

How much does Portugal citizenship by investment cost?

The primary cost of getting Portuguese citizenship is through the investment, which we detailed earlier in the article.

To apply for citizenship after five years of legal residency, the citizenship application fee ranges from €175 to €250. Generally, the Portuguese passport costs you €65 in Portuguese territory. Elsewhere, this may be more expensive. For example, in the United States, the passport will cost around €100. 

Change in the Portuguese Citizenship Law

In 2024, the Portuguese Citizenship Law (Portuguese Nationality Act Law No 37.81 was amended. Portugal Golden Visa applicants would be able to consider the “Golden Visa application waiting period” for the five-year citizenship period. Put simply, this means that the five-year period begins from the date of the first residency application, not when the residency application is accepted. This significantly speeds up the process by which it is possible to apply for Portuguese citizenship.

Additional Costs of Portugal's Citizenship by Investment Program

In addition to the investment cost, there are several other fees and expenses for the Portugal investment visa. For example, the Portugal Golden Visa application fee for a single applicant is €605, the Golden Visa residency permit issuance is €6,045, and the renewal is €3,023, which the applicant will need to do twice. Over the five years, that’s almost €13,000. 

For a couple, the fees are double as the application cost is €1,210, the Portuguese residency permit is €12,090, and the renewal is €6,046. 

Portugal investment citizenship: Application legal fees

• Golden Visa legal application fees: Range from €5,000 to €8,000 for single applicants. Dependents younger than 18 years old can be included in the application free of charge.
• Additional Golden Visa application fees: For dependents aged 18 years and older, this will cost between €500 to €2,000. Note that children are free of charge.
• Renewal legal costs: For a single applicant: €1,000 to €2,500; for dependents aged 18 years and older, this will cost between €500 and €2,000. Again, children are free of charge.

Portugal Citizenship by Investment Application Process and Timeline

Applications for residency by investment in Portugal can be a lengthy process. However, it is advised to consult with a Portugal Golden Visa consultant to assist you with the paperwork and ensure your application gets accepted.

Generally, the Golden Visa application process is as follows:

1. Onboarding: Initial discussions with the onboarding and legal teams, and collecting the necessary documents to ensure the correct paperwork.
2. Bank account and NIF: Our residency and citizenship division, Global Citizen Solutions, will appoint a fiscal representative for you to obtain the tax identification number (NIF) in Portugal. After obtaining your NIF, we can help you open a bank account in Portugal. We can do this remotely, and Global Citizen Solutions will help you.
3. Make the investment: We can begin securing your Portugal Golden Visa investment and will guide you through the necessary paperwork.
4. Online application: Lodge your application online.
5. Pre-approval: Your application will be pre-approved on the basis that you fulfill the necessary requirements.
6. Biometrics visit: From the time you book your interview, it takes around two months until you can attend a biometrics collection session in person.
7. Golden Visa issuance: After your biometrics, your Golden Visa has to be approved by the Agency for Integration, Migration and Asylum (AIMA Portugal), and you’ll have to pay the government permit issue fee. We’ll then collect the residence cards on your behalf and send them to you.

How long does it take to get citizenship by investment in Portugal?

Once you have all the correct documents, made the investment, AIMA approves your Golden Visa application, and the agency captures your biometrics, you’ll need to wait between 9 and 12 months before your residence permit is issued.

Once granted, the initial permit is valid for two years and can be renewed thereafter for another two years. At the end of the fourth year, it can again be renewed for another two year,s but you can apply for permanent residency and citizenship after five years. Following this, you can request permanent residency and Portuguese citizenship. 

Other Routes to Get Portuguese Citizenship

How to get a Portuguese citizenship through other routes? There are several other options to get Portuguese citizenship apart from the Portugal Citizenship by Investment pathway (also sometimes referred to as the Portugal passport by investment program).

Other options include:

• Portuguese citizenship by descent or Portuguese citizenship by birth
• Naturalization after five years of residence
• Marriage to a Portuguese citizen. If you have been in a non-marital partnership with a Portuguese national for more than three years, you can also apply.
• Adoption

Citizenship by Investment Portugal: Does Portugal allow dual nationality?

Yes, it is possible to acquire Portuguese citizenship and retain your other nationality at the same time, provided your other nationality also accepts dual nationality. In Portugal, there are no restrictions on dual nationality under Portuguese Nationality Law.

Goldcrest: How We Can Help You 

Goldcrest is a buyer’s agent that is based in Lisbon. We provide expert, impartial advice on real estate investments and how to buy property in Portugal. From scouting out the perfect property through to property acquisition, we have you covered throughout the process.

If you are looking to purchase property in Portugal, don’t hesitate to get in touch. Our team of skilled experts is available to solve all your real estate doubts, helping you with the property search and offering insightful expertise and strategic advice.

Why choose Goldcrest?

• Local knowledge: With offices located across Portugal, our presence nationwide allows us to assist you personally across the country.
• Independent service: As an independent buying agent, we do not represent any development or project. Our service is entirely tailored toward each individual client, providing you with everything you need to secure the perfect property at the best possible price. As an impartial advisor on the market, we work solely on behalf of our client and provide a service tailored to your needs and requirements.
• Streamlined process: Our real estate agents speak English and Portuguese, and our service is completely focused on providing you with a hassle-free buying experience, saving you time.
• Experienced team: Our expert real estate team has a vast local knowledge of the Portuguese property market. We have cutting-edge technology and metasearch tools at your disposal to provide full market coverage, ensuring the best investment choices and negotiated prices.
• Network of partners: We have a close network of partners, including lawyers, property management services, builders, architects, designers, and landscape gardeners, again saving you time and hassle by providing you with trusted experts in their field of work.