Portugal Citizenship by Investment: How to Apply in 2025

Are you dreaming of a European passport? A life filled with rich history, beautiful coastlines, and the freedom to move across the EU might feel distant.

Many believe a path like Portugal citizenship by investment is too complicated, but that is not the case. For years, people have used this route to gain a second passport, and the opportunity still exists despite recent changes.

This updated guide shows you what the program looks like in 2025 so you can find new Portugal citizenship pathways for you and your family.

Table Of Contents:

• What Happened to the Portugal Golden Visa?
• Your New Pathways to Portugal Citizenship by Investment in 2025
  • The Investment Fund Option
  • Creating Jobs Through a Business
  • The Cultural Heritage Donation
  • Scientific Research Investment
• The Step-by-Step Application Process
• What are the Real Benefits of a Portuguese Passport?
• Is This Path Right for You? Considering the Costs
• Conclusion

What Happened to the Portugal Golden Visa?

You have likely heard discussions about Portugal’s Golden Visa program. Perhaps you heard that the popular real estate investment options in places like Lisbon, Porto, or the Algarve are gone.

That information is correct, as the Portuguese government made significant changes in late 2023 with the introduction of the Mais Habitação (More Housing) law.

The government’s main goal was to address rising housing costs for local residents. To do this, they removed the direct real estate acquisition and certain capital transfer options that had been the program’s main attractions. This news caused widespread confusion, leading many to believe the entire Golden Visa program was canceled.

However, that is not the end of the story. The program was not terminated; it was restructured. Portugal still welcomes foreign investment, but it now directs that capital into different sectors of the economy that promote job growth, innovation, and cultural preservation.

Your New Pathways to Portugal Citizenship by Investment in 2025

If buying a home no longer qualifies you for the Golden Visa, what options remain?

The government has preserved several effective investment pathways. These routes all lead to a residence permit, which is the first step on a five-year journey to obtaining Portuguese citizenship.

The Investment Fund Option

This route has quickly become the most popular choice for new applicants. It requires a minimum investment of €500,000 into a qualifying Portuguese investment fund. These are not standard mutual funds; they are typically venture capital or private equity funds that are regulated in Portugal.

These funds are focused on providing capital to growing Portuguese companies, boosting sectors like technology, renewable energy, and health sciences.

A key advantage is that your investment is handled by professional fund managers. You avoid the hassles of property management or tenants while potentially earning a financial return.

While all investments carry inherent risks, this option aligns your financial interests with Portugal’s economic development. Choosing a fund regulated by the Portuguese Securities Market Commission (CMVM) adds a layer of oversight. It is an active way to contribute to the country’s economic future.

Creating Jobs Through a Business

If you have an entrepreneurial spirit, this path could be an excellent fit. There are two primary ways to qualify: by establishing a business and creating employment opportunities in Portugal. Each option serves different business goals and investment levels.

The first option requires you to create at least 10 new, full-time jobs for Portuguese nationals or residents. This route has no specified minimum investment amount, but your business must be substantial enough to support and sustain this level of employment. You will need a very strong business plan to demonstrate viability to the Portuguese authorities.

The second option offers more flexibility. You can invest €500,000 into a new or existing company headquartered in Portugal and create a minimum of five permanent, full-time jobs. This is a great choice for business owners looking to establish a European presence or expand their current operations into the EU market.

The Cultural Heritage Donation

A lesser-known but very impactful route involves making a non-refundable donation to preserve Portugal’s national cultural heritage. This option demonstrates a deep commitment to the country’s history and arts. It is a philanthropic path to residency.

The minimum donation required is €250,000. These funds are directed towards supporting artistic projects, maintaining national monuments, or restoring cultural sites. Because this is a donation, the capital is not returned to you.

Think of it as patronage with a profound, life-altering benefit for you and your family. For individuals passionate about arts and culture, this pathway provides a meaningful connection to the heart of Portugal. It allows you to leave a lasting legacy.

Scientific Research Investment

For those passionate about innovation and technology, investing in Portugal’s research sector is a compelling option. This path requires a minimum contribution of €500,000. The funds must be allocated to research and development activities conducted by public or private institutions that are part of the national scientific and technological system.

This investment directly supports important projects in fields like biotechnology, information technology, and renewable energy. It helps fuel discovery and solidifies Portugal’s position as an innovation hub in Europe. Your contribution could help fund the next major scientific breakthrough while you build your future.

The Step-by-Step Application Process

Acquiring your residency permit may seem complex, but the process is a series of clear and manageable steps. A methodical approach, usually with the help of a legal advisor, makes the journey smooth.

Here is a general outline of what to expect:

1. Choose Your Investment Path: This is your first major decision. Evaluate whether a fund investment, a business venture, or a donation aligns best with your personal and financial goals. Thorough research and professional advice are critical at this stage.
2. Gather Your Documents: You will need to collect a set of personal documents. This includes a valid passport, a clean criminal record from your home country, and proof of international health insurance. You must also provide documentation proving the legal source of your investment funds.
3. Get a Portuguese Tax Number (NIF): The NIF (Número de Identificação Fiscal) is essential for any financial transaction in Portugal. You cannot open a bank account or make an investment without it. This can be easily obtained with the help of a local lawyer or fiscal representative.
4. Open a Portuguese Bank Account: Your investment must originate from a bank account in Portugal. After you receive your NIF, you can open an account. This step is a mandatory part of the process.
5. Make the Investment: With your Portuguese bank account funded, you can now execute your chosen investment. You will receive official documentation confirming the transaction, such as a declaration from your fund manager or proof of company registration. This proof is a core part of your application.
6. Submit the Online Application: Your legal representative will submit your application and all required documents through the official online portal of AIMA. AIMA (Agência para a Integração, Migrações e Asilo) is the government agency now responsible for immigration and residency applications.
7. Attend Your Biometrics Appointment: Once your application is pre-approved, you and your included family members will need to travel to Portugal. During the biometrics appointment, you will provide fingerprints, have your photo taken, and sign official documents.
8. Get Your Residence Card: After a final review and approval, your residence card will be issued and mailed to your legal representative. This card is typically valid for two years and must be renewed to remain active.

What are the Real Benefits of a Portuguese Passport?

A Portuguese passport is one of the most valuable travel documents in the world. It provides a level of freedom, security, and opportunity that is difficult to find elsewhere. The benefits extend far beyond just travel.

• Global Mobility: A Portuguese passport grants visa-free or visa-on-arrival access to over 190 destinations. This includes the entire EU Schengen Area, the United Kingdom, Canada, and Australia. This makes international business and personal travel incredibly convenient.
• Live and Work in the EU: As a citizen of an EU member state, you gain the absolute right to live, work, and study in any of the 27 EU countries, as well as Switzerland, Norway, Iceland, and Liechtenstein. You can move to Germany for a job, retire in Italy, or send your children to a university in Sweden.
• High Quality of Life: Portugal is consistently ranked as one of the safest countries in the world by the Global Peace Index (ranked 7th in 2024 and 2025). It offers high-quality healthcare, a pleasant year-round climate, beautiful scenery, and a lower cost of living than many other Western European nations.
• A Plan B for Your Family: This passport secures a future for your entire family. Family inclusion is a key part of the Portugal citizenship by investment program, allowing your spouse, dependent children, and even dependent parents to gain the same rights. It is a legacy of security you can pass down through generations.

Is This Path Right for You? Considering the Costs

The Portugal citizenship by investment program is a significant financial undertaking. The primary investment is only one piece of the pie. You must also account for government processing fees, due diligence checks, and professional legal fees for a successful application.

It is important to have a full financial picture from the start. This allows you to make a clear decision without any unexpected expenses. The breakdown below shows the main costs you should anticipate.

These figures are estimates and are subject to change by the Portuguese government. The total costs will be based on your family size and the specific investment route you select. A qualified legal advisor can provide you with a precise quote.

Conclusion

The requirements for Portugal citizenship by investment have shifted, but the program is very much alive and well. The new focus on investment funds, job creation, and cultural support has created a more sustainable program that integrates investors into the country’s economy. It remains one of the most reliable and attractive routes to an EU passport.

The process requires a five-year commitment, a clear investment, and some patience. The reward is full citizenship in a safe, beautiful, and welcoming European country with all the rights that come with it. Achieving Portuguese citizenship by investment is a tangible and realistic goal for 2025 and beyond.