Portugal, a lively country on the Iberian Peninsula, is famous for its history, beautiful coastline, and excellent standard of living. In addition, it has attracted international investors over the past decade. The Portugal Golden Visa programme, formally known as the Residence Permit for Investment Activity (ARI) is one of the most popular and desirable residence-by-investment programs world-wide. The programme offers non-EU/EEA/Swiss citizens, including Indian citizens the opportunity to obtain a residency permit with the expectation of advancing to Portuguese and, ultimately, EU citizenship.
The Portugal Golden Visa program is, in short, a government-approved program that aims to attract foreign investment into the country. By making a qualifying investment, applicants and their immediate family can obtain a residence permit that is renewable in Portugal. This provides the right to reside, work and study in the lovely European country as well as gain visa-free access to the Schengen Area, which comprises 27 European countries which have officially abolished passport control and all other types of border control at their mutual borders.
Since it was introduced in 2012, the programme has changed considerably to meet today’s economic priorities. Among the most significant changes is the disappearance of direct acquisition of residential real estate as a qualifying investment option, effective October 2023. The emphasis now is clearly on investments that foster innovation, add value to cultural heritage, or increase employment, to ensure that the capital infusion benefits the greater economy of Portugal. The investor-friendly scheme now boasts a sustainable and illuminated future for global investors.
Key Benefits for Indian Investors
The Portugal Golden Visa provides a strong combination of European access, family safety, and low residency requirement; it is a great ‘Plan B’ for globalization, especially for high-net-worth individuals and families in India.
Schengen Mobility: which is likely the most appealing benefit: the right to freely travel to all 27 Schengen countries without needing another visa. This is a considerable benefit for business travel, educational travel or leisure travel in Europe.
Pathway to EU citizenship: After five years on the residency permit and demonstrating enough proficiency in the A2 level of the Portuguese language, then the applicant and their family can apply for permanent residency or Portuguese citizenship. Portuguese passports are among the best in the world, granting far more global visa-free access and the right to live, work or study in any EU member state.
Minimal Stay Requirement: The program has one of the lowest physical residency requirements of any program in Europe – only a total of 7 days in the first year and then 14 days in each subsequent 2-year renewal period (averaging only about 7 days a year) to maintain residency status. It allows business professionals to stay in their current jurisdiction without obligation to relocate immediately – an added benefit.
Family Inclusion: The permit is available for the main applicant’s spouse or legal partner, dependent children (under 18, or over 18, unmarried and financially dependent, and enrolled as full-time students), and financially dependent parents of the main applicant and spouse – a great overall solution for securing a family’s future as well.
Quality of Life & Safety: Portugal has been voted continuously as one of the most peaceful and safest countries in the world. Portugal offers a low cost of living as compared with other Western European countries, excellent public services, and a good, mild climate.
Learn more: European Golden Visa Program Benefits
Current Qualifying Investment Routes (2025)
Following the legislative changes, the Portugal residence by investment programme now requires non-real estate investments. Investors must commit to maintaining their chosen investment for a minimum of five years.
| Investment Option | Minimum Investment | Key Focus |
| Investment Funds | €500,000 | Acquisition of units in investment or venture capital funds committed to the capitalization of Portuguese companies (non-real estate). Funds must be regulated and have a maturity of at least five years, with at least 60% of the investment portfolio in companies with a registered office in Portugal. |
| Arts & Cultural Heritage | €250,000 | Investment or support for artistic production, or the recovery and maintenance of national cultural heritage. |
The Investment Fund option has quickly become the most popular route for the Portugal investment visa due to its professional management, diversified risk, and low administrative burden on the investor.
Read more How to Get a Portugal Residence Permit by Investment
The Application Process: A Structured Approach
Completing the application for the Portugal Golden Visa program involves detailed preparation and regional knowledge. The process requires important steps:
Preparation and Due Diligence: The process begins with obtaining all required documentation, which must include, at a minimum, the applicant’s passport, clean criminal record certificates, and evidence of non-EU/EEA/Swiss nationality. It is also during this phase that initial due diligence will occur.
Obtaining a NIF and Bank Account: Applicants must acquire a Número de Identificação Fiscal (NIF), or Portuguese tax number, and open a local bank account. A local tax representative must be appointed.
Investment Execution: The chosen qualifying investment must be executed and fully documented. For the fund route, this involves transferring the minimum required capital to the Portuguese bank account and completing the fund subscription.
Application Submission Procedure: The application and all supporting documentation is submitted through the AIMA online system (Agência para a Integração, Migrações e Asilo). A major positive change is that the five-year time frame for residency and citizenship eligibility is based on the date of application submission and not the date of final approval.
Biometrics Appointment: After the application is received for processing, the applicant and all family members listed on the application are required to attend an in-person biometrics appointment in Portugal to provide fingerprints and original documentation.
Approval and Issuance: Ordered residence permits (Golden Visas) are issued after final approval. The cards will be valid for a period of two years and will be eligible for renewal thereafter.
The process will also extenuate only if there is a financial or legal aspect involved. * It is best to use trusted and competent Portugal Golden Visa consultants and/or a lawyer to help navigate and ensure compliance with competent legal and government authority. A reputable Portugal Golden Visa advisors can assist you with the nuances of fund selection, documentation preparation, and communications with Portuguese authorities.
Planning for the Future: Citizenship Eligibility and Current Reforms
The ultimate goal of the Portugal Golden Visa for many is the acquisition of Portuguese citizenship.
- Current Eligibility: Under the current law, you are eligible to apply for Portuguese citizenship after five years of legal residency (the clock starting from the online application submission).
- Language Requirement: A basic level of Portuguese language proficiency (A2 level), typically demonstrated by passing a simple test (CIPLE), is mandatory for the citizenship application.
- Proposed Changes: It is important for potential applicants to be aware of ongoing political discussions at the end of 2025. The current proposed legislation seeks to possibly change the length of time lawfully residing in Portugal prior to naturalization from five to ten years. While this suggested change in a law does not yet exist and is presently being challenged in court, any potential applicants should be considering this future change in their long term planning and proceed with caution. It is also expected the government will seek to provide grandfathering options keeping the existing applicants grandfathered in to protect them, but legal advice should be obtained.
It is also important to note the regulatory environment is always changing. You will want to consult with experts, Portugal Golden Visa advisers, in order to understand the most current conditions for your long-term planning.
Take the Next Step
The Portugal Golden Visa program provides a strong and flexible option for Indian investors who wish to establish a European future for themselves and their families. With minimal requirements of residence and a specific, but changing, route to a powerful European Union passport, now is the perfect time to take action because the investment space has changed to be a professional, non-real estate, investment.
Do not take this trip alone or on your own. The best first step in having your application be easy, compliant, and successful is to start the process by connecting with leading Portugal Golden Visa consultants.
Contact an expert right away to begin mapping your Portugal investment visa path, securing your family’s next chapter in Europe.
Frequently Asked Questions (FAQ)
1. Is the real estate option still available for the Portugal Golden Visa?
- No. As of October 2023, the option to qualify for the Portugal Golden Visa through the purchase of real estate (residential or commercial) was discontinued as part of the “Mais Habitação” Law. The most popular qualifying route is the minimum €500,000 investment in qualified Investment or Venture Capital Funds.
2. Can I include my family in the Portugal Golden Visa application?
- Yes. The programme is family-friendly. You can include your spouse or legal partner, dependent children (minor or adult students who are financially dependent), and dependent parents of both spouses.
3. How long does the Portugal Golden Visa application process take?
- The processing time can vary significantly due to application backlogs at the Portuguese Immigration Authority (AIMA). The estimated time from initial application submission to the first card issuance typically ranges from 9 to 18 months, or sometimes longer, depending on case volume and administrative efficiency.
4. What is the minimum stay requirement?
- The minimum physical stay requirement is very low: 7 days in Portugal during the first year, and 14 days during each subsequent two-year renewal period. This averages to about seven days per year.
5. Do I need to learn Portuguese to get the Golden Visa?
A. You do not need to speak Portuguese to obtain the initial residency permit. However, to qualify for Portuguese citizenship after five years (or the currently proposed longer period), you must demonstrate a basic A2 level of Portuguese language proficiency.
