Portugal Golden Visa 2025: The Complete Guide to the New Rules and Investment Options

The Portugal Golden Visa remains one of Europe’s most attractive residency-by-investment programs — offering the opportunity to live, work, and travel freely across the Schengen Area. However, significant changes introduced in late 2023 and consolidated in 2024 have reshaped how investors can qualify for this program.

1. What Is the Portugal Golden Visa?

The Golden Visa program, officially known as the “Residence Permit for Investment Activity” (ARI), was launched in 2012 to attract foreign investment into Portugal. It grants non-EU citizens a renewable residence permit in exchange for qualifying investments, eventually leading to permanent residency or citizenship after five years.

2. The End of Real Estate Investments

As of October 2023, real estate purchases and related investment funds are no longer eligible for the Portugal Golden Visa. This change was part of the government’s “More Housing” law aimed at balancing the real estate market and promoting productive investments in other sectors of the economy.

While this decision ended one of the most popular investment routes, the program continues through other pathways that support innovation, job creation, and cultural development.

3. Updated Qualifying Investment Routes (2025)

The Golden Visa is still available through several non-real-estate options. As of 2025, investors can qualify by choosing one of the following:

• Venture Capital or Investment Funds: A minimum investment of €500,000 in regulated funds dedicated to supporting Portuguese companies, innovation, or projects in green energy and technology.
• Research and Development (R&D): An investment of at least €500,000 in scientific or technological research activities conducted by public or private institutions.
• Cultural Heritage or Artistic Production: A minimum contribution of €250,000 to projects that preserve Portuguese cultural heritage or promote artistic production (may be reduced by 20% in low-density regions).
• Business Creation or Expansion: Creating at least 10 jobs in Portugal or investing €500,000 in an existing business that creates or maintains at least five jobs for three years.

4. The Transition from SEF to AIMA

Since 2024, the Agency for Integration, Migration, and Asylum (AIMA) has replaced SEF as the authority responsible for processing residence permits, including Golden Visa applications. While the procedures remain similar, AIMA is implementing digital improvements to streamline applications and renewals.

5. Residency, Renewal, and Citizenship Path

Once approved, investors receive a residence permit valid for two years, renewable for successive three-year periods. To maintain the status, holders must spend a minimum of seven days per year in Portugal.

After five years, investors can apply for permanent residency or Portuguese citizenship, provided they meet the legal residency and language requirements (A2 level in Portuguese).

6. Key Benefits of the Golden Visa

• Visa-free travel across the Schengen Area
• Access to Portugal’s healthcare and education systems
• Eligibility for permanent residence or citizenship after 5 years
• Inclusion of family members in the same application
• Attractive investment opportunities through funds, culture, and innovation

7. What to Consider Before Applying

Although real estate is no longer an eligible route, many investors still choose to invest in Portuguese property separately from their Golden Visa, for lifestyle or rental reasons. It’s crucial to seek professional guidance to structure your investment effectively and ensure compliance with current legislation.

8. How Maràvista Can Help

At Maràvista, we work closely with trusted legal partners, financial advisors, and developers to guide clients through the entire Golden Visa process — from choosing the right investment path to managing long-term residence and property ownership.

If you’re considering the Portugal Golden Visa in 2025, contact our team to explore your options and ensure a smooth and compliant investment journey.

 Get in touch with Maràvista to begin your pathway to residency in Portugal.

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