Portugal Golden Visa: Investment options, eligibility, proposed citizenship updates for Indians

Since its launch in October 2012, the Portugal Golden Visa program has granted residency to over 12,000 international investors and their families, making it one of the most popular residency-by-investment schemes in Europe. The program allows investors to live, work, and study in Portugal, with visa-free travel across the Schengen Area. Unlike many other Golden Visa programs, it provides a clear path to permanent residency or Portuguese citizenship in just five years.

2025 Developments: Proposed Changes to Citizenship Rules

On June 23, 2025, the Portuguese government proposed changes to the nationality law that could extend the minimum residency period required for citizenship from 5 years to 10 years. While these changes are still under review, they may impact future applicants for the Golden Visa program.

What is the Portugal Golden Visa?

The program, also known as the residence permit for investment activity (ARI), is aimed at non-EU/EEA/Swiss nationals seeking residency in Portugal. Launched to attract international capital after the 2008 economic crisis, it has raised over €7.5 billion to date. Portugal offers a high quality of life, safe environment, robust infrastructure, and an affordable cost of living, making it attractive for global investors.

Key benefits of the Golden Visa program

• Low investment threshold: Residency can be obtained with a minimum investment of €250,000.

• Minimal stay requirements: Only seven days per year are required in Portugal.

• Family reunification: Applicants can include their spouse, children under 18, dependent children under 26 who are students, and parents over 65.

• Path to citizenship: After holding a Golden Visa for five years, applicants may qualify for Portuguese citizenship, subject to language and tax requirements.

• Visa-free travel: The Golden Visa allows free movement across Schengen countries. A Portuguese passport allows travel to 188 countries.

• Work and study opportunities: Visa holders can live, work, and study in Portugal, with access to healthcare, education, and public services.

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Investment options

Applicants may invest through venture capital funds, company creation, or donations, with investments ranging from €200,000 for donations to €500,000 for fund investments. American investors often prefer private equity or venture capital routes over real estate, which remains popular for other nationalities.

Tax benefits

Golden Visa holders are only taxed in Portugal if they spend more than 183 days per year in the country. Although the non-habitual residency program is no longer available, Portugal maintains a favorable tax system for residents who relocate.