Why Everyone’s Talking About It Again
We’ve been helping people move to Portugal for years, and one question we get all the time is: “Is the Golden Visa still worth it?” In 2025, the short answer is yes — but it looks very different from what it used to be.
If you remember the old days of the Golden Visa, you probably think of people buying apartments in Lisbon, renting them out on Airbnb, and getting residency as a bonus. That’s over. Portugal decided to rethink the program completely. Real estate investments are gone, citizenship now takes longer, and the focus has shifted to meaningful contributions — think jobs, research, and culture.
So, is it harder now? Not really. It’s just smarter. And, honestly, we like the new version better — because it actually builds something for the future.
The Big Changes (and What They Mean in Real Life)
Real Estate Is Out
The biggest change came in October 2023. Property purchases no longer count toward the Golden Visa. For years, buying real estate was the easy option — too easy, in fact. Prices skyrocketed in major cities, and locals struggled to afford homes. The government said “enough” and turned the focus toward investments that add real value.
That decision scared a lot of people at first. We remember dozens of clients writing to us, worried they’d lost their chance. But the truth? Other options opened up — safer, faster, and often cheaper to maintain.
The Citizenship Clock Got Longer
In October 2025, the parliament extended the path to citizenship from five to ten years. It sounds like bad news, but it’s really not. Here’s why: the residency requirements are still light — you only need to spend a few days in Portugal each year — and the country’s still one of the easiest gateways to the EU.
If you’re from a Portuguese-speaking country (CPLP) like Brazil, Angola, or Mozambique, you still get a faster track: seven years. And there’s one more piece of good news — if you apply before June 19, 2025, you’ll still fall under the old five-year rule. That’s what’s called the grandfather clause.
AIMA Replaces SEF
The immigration office everyone used to curse — SEF — is officially gone. It’s been replaced by AIMA, a new agency that finally dragged the process into the 21st century. Everything happens online now: document uploads, application tracking, biometric scheduling. It’s not perfect yet (processing still takes 12–18 months), but it’s far more transparent than before.
We’ve worked with both systems, and honestly, AIMA feels like a breath of fresh air. No more paper chaos, fewer surprises, and a portal that actually works.
Your New Investment Options (and How People Really Use Them)
Now that real estate is off the table, what’s left? Quite a lot, actually — and many investors are realizing these new options are more stable and profitable in the long run.
Investment Funds — The Smart Replacement for Property
You invest €500,000 into a regulated investment fund that supports Portuguese companies. Think of it as a professionally managed portfolio that lets you back innovation instead of buildings.
When the real estate route ended, many investors panicked — until they looked into funds. They found out they could spread risk across multiple projects, skip the property taxes, and still get residency. Today, this is easily the most popular option.
Why people choose it:
- You don’t need to manage tenants or deal with property upkeep.
- The funds are regulated and audited by CMVM (Portugal’s securities commission).
- Entry and management fees are reasonable (around 1–3%).
- You actually help Portuguese startups, green energy, or tech projects grow.
Creating Jobs — The Entrepreneur’s Path
If you prefer running your own show, the job creation route might fit you better. You can either:
- Create 10 full-time jobs in Portugal, or
- Invest €500,000 in a company that hires at least 5 new employees.
We’ve seen entrepreneurs open cafes, digital agencies, logistics companies — even vineyards. It’s a way to invest where your heart is while earning residency status at the same time.
Cultural Projects — For the Soul (and the Savings)
You can invest €250,000 in a certified cultural or heritage project — or €200,000 if it’s in a rural area. This includes restoring theaters, supporting museums, or funding community arts programs.
We’ve worked with clients who loved this option because it’s not just about numbers — it’s about leaving a mark. It’s also the lowest-cost entry point into the program.
Research and Innovation — Building the Future
Portugal’s universities and labs are buzzing with new projects in tech, science, and medicine. Investing €500,000 here supports national development and gives you a stake in something truly forward-looking. We’ve seen investors back renewable energy startups and biotech projects that later became global names.
Starting a Company — Direct and Rewarding
If you already run a business abroad, opening a Portuguese branch or launching a new venture is another valid path. The minimum is €500,000, but there’s flexibility depending on the business model.
It’s perfect if you want to move part of your operations to Europe — especially in tech, trade, or consulting.
Who Can Apply and What You Need
The basics are simple. To apply, you need to:
- Be 18 or older and from outside the EU/EEA/Switzerland.
- Have a clean criminal record.
- Get a Portuguese tax number (NIF) → Apply online
- Open a Portuguese bank account → Open remotely
- Have valid health insurance.
- Spend 7 days in the first year, and 14 days every two years after that.
- Include your spouse, children, and parents if you like — family reunification is part of the deal.
The Process (Without the Bureaucratic Headache)
We’ll be honest: it’s not instant. But with proper guidance, it’s smoother than most expect.
- Get your NIF (tax ID).
- Open a bank account in Portugal.
- Choose your investment option and transfer funds.
- Upload all documents to the ARI Portal.
- Wait for pre-approval and schedule your biometrics.
- Receive your residence card — valid for two years, renewable for three.
Most clients manage the first three steps remotely. The only part that really requires being in Portugal is the biometrics appointment.
What It Costs (and What You Get Back)
We believe in being transparent about numbers. Here’s what you can expect over five years:
| Applicant | Total Government Fees (€) |
|---|---|
| Single | ~12,700 |
| Family of Four | ~50,800 |
These are official fees only — excluding legal help, fund costs, and translations. But overall, Portugal remains one of the most affordable residency programs in Europe.
Taxes (and the Perks of Not Living Full-Time)
Here’s the good news: you don’t automatically become a tax resident. If you spend only a few days in Portugal each year, your global income usually stays untaxed there.
If you decide to move full-time, Portugal offers generous tax programs like NHR 2.0 for professionals in tech, innovation, and science.
Other benefits include:
- No inheritance tax between close family members.
- Possible tax exemptions on investment fund income for non-residents.
- Access to EU healthcare, education, and free travel in the Schengen Zone.
The Road to Citizenship
Once you’ve held your visa long enough (5, 7, or 10 years depending on when and where you applied), you can apply for Portuguese citizenship. You’ll need to:
- Pass a basic Portuguese language test (A2).
- Have a clean record.
- Show some connection to the country — a local bank account, visits, or community involvement.
And yes — once you become a citizen, you get an EU passport with full rights to live and work anywhere in the Union.
What We’ve Learned Helping Applicants Like You
Over the years, we’ve guided clients from more than 40 countries through the Golden Visa process. Here’s what we always tell them:
- Don’t overthink it. The hardest part is starting. Once your NIF and bank account are ready, the rest falls into place.
- Portugal moves at its own pace. AIMA is improving, but expect some waiting. Patience is part of the plan.
- Choose an investment that feels right. It’s not just about residency — it’s about aligning with what you believe in: innovation, culture, or job creation.
And finally: don’t go through it alone. The paperwork, translations, and timelines can get confusing. That’s exactly why we built E-Residence — to make it simple, clear, and stress-free.
Where to Check Official Info
Always double-check details on official websites:
- AIMA (Agency for Integration, Migration and Asylum): https://aima.gov.pt
- ARI Application Portal: https://ari.sef.pt
If you’re ready to start or just want to talk through your options, our team is here to help. We’ll walk you through every step — from getting your NIF to submitting your application — with real experience and clear answers, not legal jargon.
Last updated: 31.10.2025