Portugal’s Golden Visa remains one of Europe’s most sought-after residency-by-investment programmes. Recent changes have sparked a flurry of myths, though. Here, we set the record straight on five common misunderstandings about the scheme.
1. The Portugal Golden Visa has ended
When the Portuguese parliament first tabled the controversial Mais Habitação bill, they proposed scrapping the entire Golden Visa programme. The Portuguese President vetoed that bill in August 2023.
The revised bill, which eventually passed, didn’t end the Golden Visa. It only terminated the option to purchase or invest in real estate as a qualifying route. The programme continues with other investment options intact.
2. Buying investment funds in Portugal won’t be profitable
Investment funds have become the most straightforward option to obtain a Golden Visa in Portugal. That’s especially true after property investments were scrapped. Investors must purchase at least €500,000 worth of qualified investment fund units to be eligible for the Portuguese residence permit card.
The myth that these investment funds aren’t profitable is unfounded. Many qualified funds target annual internal return rates ranging from 10-20%.
3. You can still apply via the Portuguese Immigration and Borders Service
The Portuguese Immigration and Borders Service (SEF) no longer exists. As of 29th October 2023, it was replaced by the Agency for Integration, Migration and Asylum (AIMA). The Institute of Registries and Notary is tasked with issuing passports and residence permits for foreigners. AIMA has recently enabled investors to apply for residency online.
4. You must get permanent residency to obtain a Portuguese passport through the Golden Visa programme
Recent positive developments in Portugal’s immigration policy have changed this requirement. As of 7th March 2024, investors can apply for citizenship after five years from the residency request, rather than after obtaining residency. Authorities haven’t yet clarified whether that countdown starts at the residency application or when submitting biometrics for a residence permit card.
5. You can obtain a Portugal Golden Visa by buying property
This option is no longer available. The Portuguese government eliminated real estate investment as a qualifying route for the Golden Visa programme. A bill was passed to address the country’s housing shortage and escalating prices by curtailing foreign investment in real estate.
Currently, investors have five options to obtain a residence permit in Portugal:
Investment in art and cultural heritage (€250,000+)
Purchase of investment fund units (€500,000+)
Investment in research projects (€500,000+)
Investment in business with the creation of 5 jobs (€500,000+)
Opening a company and creating 10 jobs
How we can help
Portugal’s Golden Visa programme has changed significantly, and the rules aren’t always straightforward. International Wealth Ventures offers expert guidance every step of the way.
