Portugal’s Golden Visa Programme encourages investors to move to Portugal and helps them gain free movement rights in the country.
It is different from other visa programs as investors need to spend just an average of 7 days yearly in Portugal to be eligible.
The program attracted over €7.5 billion into Portugal in 2023 and bought in 12,718 applicants along with 20, 424 family members.
Non-EU, non-EEA, and non-Swiss nationals over the age of 18 are eligible for the programme if they have a clean criminal record and required capital.
The visa is open to investors willing to invest in scientific research, business creation, promoting the country's economy or cultural heritage.
After five years of residency in Portugal, investors can apply for Portuguese citizenship.
Applying for Golden Visa in Portugal requires choosing the appropriate investment category, obtaining a Portuguese Tax Identification Number, submitting the application online and registering for biometric data.
The Portuguese government has recently landed fresh changes to the Golden Visa programme, including scrapping real estate investment as an option.
Real estate aside, these changes have been designed to make the visa easier to upkeep for those looking to be in the country long-term.
Golden visa holders have to renew their residency permit every three years and will not be liable to taxation if they spend less than 183 days a year in Portugal.