Updated: March 22, 2023
The Portugal Golden Visa program has attracted many foreign investors worldwide to realize their dream of Portuguese residency and citizenship through real estate investments. However, there have been some changes to Portugal’s Golden Visa real estate investment pathway after 1 January 2022. In this article, we’ll cover these changes in detail and inform you how you can still qualify for the Golden Visa program.
Important note: The Portugal Golden Visa scheme is coming to an end. If you are interested in applying, you should begin your Golden Visa application now. You can read more in our article: Portugal Golden Visa Ending: Everything We Know So Far.
Portugal Golden Visa Real Estate Investment – Your Guide
The Portugal Golden Visa underwent significant changes from 1 January 2022, particularly relating to the real estate investment pathway.
In this article, we provide you with detailed information on the new rules and how you can increase your chances of getting the Portuguese Golden Visa. You will learn:
- Major changes to the Portuguese Golden Visa real estate investment pathway
- Eligible real estate investment options to qualify for the Portuguese Golden Visa
- Real estate investment in Lisbon, Porto, and the Algarve: Is it still possible?
- Goldcrest – How we can help you in your Portugal property acquisition.
If you are interested to learn more about the Portuguese Golden Visa, check out our ultimate guide on the Portugal Golden Visa program.
Major Changes to the Portugal Golden Visa
There are two main changes to the Portugal Golden Visa that Golden Visa applicants should be aware of, as provided below.
- There are location restrictions on where to invest in residential property in Portugal (note that there are no location restrictions when investing in commercial property)
- Investment amounts for cultural investments, capital transfers, and fund subscriptions increased.
In the table below, we provide you with information on the changes made by the Portuguese government to the investment amounts after 1 January 2022.
| Type of investment | Investment amount changes | |
| 2021 minimum amount requirement | 2022 minimum amount requirement | |
| Capital transfer | €1 million | €1.5 million |
| Investment fund | €350,000 | €500,000 |
| Scientific research | €350,000 | €500,000 |
| Existing registered Portugal business | €350,000 | €500,000 |
| Art donation | €250,000 | €250,000 |
The changes in the investment amount is straightforward. However, you will need to get used to a few terms to understand the property acquisition areas, such as low and high-density areas and interior and non-interior areas, to know where you can invest in residential property in Portugal and still qualify for the Golden Visa program.
You can invest in residential or commercial non-residential properties in the interior areas. However, in non-interior areas, you can only invest in commercial properties, for instance, offices, hotels, etc.
Furthermore, if a property is located in a low-density area of Portugal, then a 20 percent discount will apply. Low-density areas have fewer than 100 inhabitants per km² or a GDP per capita of below 75 percent of the national average.
Eligible Real Estate Investment Options for Portugal Golden Visa
Even though the rules are changed, investing in real estate to get the Portugal Golden Visa is still possible. Below are some of the options for you to consider.
Residential real estate investment
You can invest €500,000 in residential properties in the designated interior areas. If the property is part of an urban rehabilitation project, you must pay €350,000. Further, you can get a 20 percent discount on the minimum investment threshold if the residential property you are buying is in the designated low-density area.
Commercial real estate
You can buy commercial property anywhere in Portugal for €500,000 and for €350,000 if the area is under the urban rehabilitation project. If the commercial property you buy is in the designated low-density area, a discount of 20 percent on the minimum investment threshold applies.
Both residential and commercial real estate
You can invest an amount of €500,000 in either residential or commercial properties in the Madeira Islands or the Azores to be eligible for the Portugal Golden Visa. Again, the minimum amount you need to invest is €350,000 if the property comes under the rehabilitation project.
The islands are not a part of Portugal’s low-density areas. Thus, the discount does not apply here.
If you want to know the eligible areas for Portugual Golden Visa, refer to the maps below.
