Portugal Citizenship by Investment and Golden Visa

David Davies

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March 2, 2025

Citizenship by investment and golden visa phrases can mistakenly be used to describe the same thing. However, they refer to two very different processes: citizenship by investment programmes offer full citizenship (and a passport), and Golden Visas offer residency, (and no passport), in the host country in return for investment. This blog examines is Portugal citizenship by investment is available to applicants seeking a second passport and the Portuguese golden visa programme as an alternative route to residency.

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Portugal is a European country located on the West coast of mainland Europe and is a member of the European Union. Portugal has a high standard of living, excellent education and healthcare facilities, high security standards, a temperate climate, and a robust quality of life.

Obtaining citizenship by investment in Portugal is not possible in the manner that it is in some countries, such as under the Caribbean CBI programmes; instead, the applicant can acquire citizenship following five years of residency.

However, Portugal offers a golden visa programme, under which an applicant obtains residency of Portugal in return for investment in the country. The Portuguese golden visa benefits the holder (short of full citizenship), including visa-free access to the EU Schengen zone and allows to maintain the period of in order to obtain citizenship by naturalisation. After that, Portuguese citizenship brings all the benefits of EU citizenship such as the freedom to live, work and travel throughout the EU with visa-free or visa-on-arrival access to approximately 190 countries.

Does Portugal Offer Citizenship by Investment?

The simple answer is no. What Portugal currently offers is a golden visa programme which allows for residency in Portugal. Citizenship cannot be obtained by investment alone but can be obtained by a process of naturalisation after a residence period of five years.

Residence comes with the following main benefits:

Visa-free travel within Europe’s Schengen area for up to 90 days within a 180-day period
Ability to live, work and study in Portugal
Possibility to extend residency and then to apply for permanent residency and citizenship after five years
Availability of similar benefits to family members

How long does the process take?

The process of obtaining a Portuguese golden visa typically takes around a year. However, as an applicant is required to attend in person for the taking of biometric information, is required to open a Portuguese bank account and obtain a Portuguese tax number, this can take longer.

How much does it cost?

The costs involved in obtaining a Portuguese golden visa are higher than most comparable programmes. Taking into account government fees, the initial fees would be around EUR 10,000 and the renewal fee is also relatively high at EUR 3,866. These are per person and so can add up very quickly. Golden visa holders who wish to reside full time in Portugal are also required to hold health insurance.

Can family members also obtain a golden visa?

Yes, permanent residence status can also be granted to the applicant’s spouse, children under the age of 18, dependent children who are in full-time education and not married and dependent parents of the main applicant who are over the age of 65.

How long is the golden visa issued for?

The Portuguese golden visa has an initial period of validity of two years and may be extended for further periods of three years provided the investment is maintained during this period. After five years of residency, the applicant can apply for permanent residency or citizenship. Upon obtaining permanent residency or citizenship, the investment requirement no longer applies, and the investment can be liquidated.

Do I need to spend time in Portugal?

Yes. Other than the requirement to visit Portugal for the biometrics appointment, Golden visa holders must spend at least fourteen days in Portugal during the initial two-year period and twenty-one days during the subsequent three-year period.

How is the citizenship in Portugal obtained?

Obtaining citizenship in Portugal is not related to the golden visa programme other than as part of compliance with the required residency periods (notably, the period of residence is deemed to commence from the date of application rather than the date of issue). Applicants can obtain citizenship in Portugal through what can be considered standard paths, such as birth, descent, and marriage, as well as by naturalisation.

The main criteria for citizenship by naturalisation are as follows:

Proof of Portuguese residency. The period required is five years (starting from the date of application if the applicant is a golden visa holder)
Proof of ability to speak, write and read basic Portuguese
Clean criminal record in Portugal and the applicant’s home country

Is Dual Citizenship Allowed in Portugal?

Yes. Portugal is particularly welcoming to dual and even triple citizenship.

Caribbean Citizenship by Investment as the Best Alternative

As you can see from the above, obtaining citizenship in Portugal is a long process, is expensive and requires periods of residency and learning the language. In comparison, the Caribbean citizenship by investment countries offer a faster and more certain alternative with a lower level of commitment from the applicant and a lower financial requirement. For details of these CBI programmes, click here.

Final Thoughts

Obtaining citizenship by investment in Portugal alone is not an option as it is under other CBI programmes such as those in the Caribbean. Rather, citizenship may be obtained following a five-year period of residency. The Portuguese golden visa programme is worth considering if you do not require full citizenship (at least for a long time) as it brings visa-free travel to the European Schengen area, the right to live, work and study in Portugal and allows an applicant to meet the residency requirements for the path to citizenship. This does however come at a higher cost than some CBI programmes which grant citizenship immediately (e.g. the Caribbean programmes). For investors looking to obtain a passport (rather than residency) for global mobility, wealth and tax planning within a short period of time, it is unlikely that Portugal is the right option for you.

What types of investments qualify for the Portuguese golden visa programme?

Investments in Portuguese funds, donations to heritage or research and development projects or the creation or maintenance of jobs by investment into Portuguese companies.

How much do I have to invest to obtain a Portuguese golden visa?

The required amount ranges from EUR 250,000 to EUR 500,000, which must be maintained throughout the period that a golden visa is held.

How long does it take to process an application for a Portuguese golden visa?

Typically, the process takes around a year.

How long does it take to obtain citizenship of Portugal?

An application for citizenship may be made after five years of residency. From that point, a typical time period would be 18 months, making a total of around six and a half years, but this varies considerably from person to person and depending on where the applicant is from.

What documents are required to apply for a Portuguese golden visa?

Documents required include a passport, proof of investment and the source of such funds and a clean criminal record. All documents must be legalised, and some must be presented in person.

Can family members be included in the application for a Portuguese golden visa?

Yes, the spouse, children under the age of 18, dependent and unmarried children over the age of 18 who are in full-time education and dependent parents of the applicant who are over the age of 65 can be included in the application.

Are there any residency requirements for applicants for a Portuguese golden visa?

Yes. Golden visa holders must spend at least 14 days in Portugal in the initial 2-year period, and then 21 days in each subsequent three-year renewal period. Applicants must also attend in person as part of the application process.

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David Davies

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David Davies

Antigua and Barbuda enjoys a tropical maritime climate, characterised by warm temperatures year-round, with an average of 27°C (81°F). The islands have a relatively dry season from January to April, with a wetter season from May to November. The islands have robust infrastructure and emergency systems in place to manage such events.

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Dominica's culture is a vibrant mix of indigenous Kalinago heritage, African traditions, and European colonial influences, particularly French and British. The island was originally settled by the Kalinago people, and their influence is still present today, especially in the Kalinago Territory. African traditions have also left a profound mark, particularly in the island’s music, dance, and festivals. Dominica’s outdoor sports are heavily influenced by its rugged terrain, with hiking and diving being popular among locals and expatriates alike, although there is of course cricket for those with more sedentary dispositions.

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The cultural heritage of Saint Kitts and Nevis is shaped by its history of indigenous Carib and Arawak inhabitants and European colonisation. Saint Kitts was the first Caribbean island to be colonised by the British, and Nevis has a rich history as a major sugar producer. The islands' cultural roots are a blend of African, British, and French influences, reflected in the local cuisine, music, and festivals. Cricket and football are deeply ingrained in the local culture and, along with sailing and hiking, are integral to the islands' cultural life.

The twin islands of Saint Kitts and Nevis are known for their volcanic mountains, rainforests, and beaches. The islands are home to the UNESCO World Heritage site of Brimstone Hill Fortress and offer stunning views from places like Mount Liamuiga. The islands’ natural beauty is one of their strongest appeals to retirees.

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Saint Lucia's culture is a unique blend of African, French, and British influences, reflecting its complex history of colonisation. The island was originally inhabited by the Arawak and later the Carib people, before being contested by the French and British for centuries. The French influence is particularly strong in the island's Creole language, cuisine, and Catholic traditions, while British colonial rule has left its mark on the legal system and sports, particularly cricket. The island’s dramatic landscapes, including the iconic Pitons, provide a stunning backdrop for outdoor sports like hiking and diving, which are popular among locals and retirees alike.

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Saint Lucia’s government is a parliamentary democracy, and the country has a reputation for a relatively efficient bureaucracy compared to other Caribbean nations. For retirees, dealing with the government is typically hassle-free for most day-to-day tasks like renewing a driver’s licence, paying taxes, or obtaining residency permits. Saint Lucia has been proactive in improving its e-government services, allowing for easier access to information and quicker processing of certain requests online.

Saint Lucia is famous for its Jazz and Arts Festival, which attracts international artists and music lovers. The island’s Carnival is another major event, featuring parades, music, and dancing. Additionally, the La Rose and La Marguerite festivals celebrate the island’s unique cultural heritage, offering retirees a rich cultural experience.

Portugal Citizenship by Investment and Golden Visa

Does Portugal Offer Citizenship by Investment?

How long does the process take?

How much does it cost?

Can family members also obtain a golden visa?

How long is the golden visa issued for?

Do I need to spend time in Portugal?

How is the citizenship in Portugal obtained?

Is Dual Citizenship Allowed in Portugal?

Caribbean Citizenship by Investment as the Best Alternative

Final Thoughts

What types of investments qualify for the Portuguese golden visa programme?

How much do I have to invest to obtain a Portuguese golden visa?

How long does it take to process an application for a Portuguese golden visa?

How long does it take to obtain citizenship of Portugal?

What documents are required to apply for a Portuguese golden visa?

Can family members be included in the application for a Portuguese golden visa?

Are there any residency requirements for applicants for a Portuguese golden visa?

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