Starting from October 7th, 2023, the Portuguese Government has formally put an end to the possibility of obtaining Golden Visas for real estate investments. This declaration has caused numerous potential investors to question their chances of immigrating and the prospects available in Portugal. Despite the fact that the conventional Golden Visa route is no longer accessible for real estate, there are still viable alternatives to acquire Golden Visas through investment. In this comprehensive guide, we will delve into the remaining avenues to Portuguese residency and citizenship, which include Golden Visas through investment funds, D7 visas, and D2 visas. This guide will provide valuable insights into the evolving landscape of Portuguese immigration.

Investment in these funds has always been a viable choice, but the appeal of property investment, which is inherently less risky, has overshadowed this option. The discontinuation of Golden Visas for real estate has prompted numerous individuals to explore other possibilities, resulting in a significant increase in interest in investment funds.

However, it is crucial to acknowledge that most investment funds carry substantial risks due to their inherent nature. For example, some funds invest in startups, which is a speculative endeavor that can lead to either substantial profits or losses.

To mitigate these risks, we have conducted extensive interviews with numerous investment fund managers. Through this research, we have identified a particularly secure investment opportunity: a chain of private schools planning expansion in Lisbon. These schools are widely recognized as the most prestigious in the region, with an outstanding reputation and a proven track record of success spanning several years. Notably, they have consistently provided investors with substantial returns, often exceeding expectations.

For individuals who previously believed their options were limited following the discontinuation of real estate-focused Golden Visas, it is reassuring to know that while traditional real estate avenues are no longer available, there are still viable alternatives in the form of carefully selected investment funds.

Many individuals who are considering Golden Visas may not be aware of the viable alternative – the D7 visa in Portugal. Unlike the substantial investments required for Golden Visas, the D7 visa only requires a modest income of 765 euros per month from sources such as rent, dividends, or pensions. For those who do not have passive income, there is the option to invest in a property that generates yields exceeding 765 euros, which would make them eligible to apply for the D7 visa.

Similar to the Golden Visa, the D7 visa provides a pathway to Portuguese citizenship and a passport upon completion of the required term. However, there is a significant difference in the residency requirement. While the Golden Visa only requires a short stay of one or two weeks in the country, the D7 visa requires applicants to become tax residents and spend more than 183 days per year in Portugal.

The D2 visa in Portugal offers a compelling opportunity for investors and entrepreneurs. It is worth noting that there is no strict minimum investment requirement, although it is recommended to invest around 50k euros. To be eligible for the visa, applicants must either establish their own business or invest in an existing one.

One of the main advantages of the D2 visa, similar to the Golden Visa, is that there are no mandatory stay requirements. This flexibility is further enhanced by a provision in the law, which allows applicants to be exempted from staying in Portugal if they can demonstrate that their absence is due to professional or business obligations, or engagements of a cultural or social nature. As a result, this feature makes the D2 visa particularly appealing to highly skilled individuals who are unable to dedicate all their time to Portugal.

For instance, one possible investment option is a unique and innovative proptech company. This strategic move offers a perk where investors are not required to pay buyer’s commissions on property transactions, potentially saving up to 5% on any transaction. Depending on the price of the property being purchased, the investment fees can be recouped upon property purchase, making this option especially advantageous for individuals aspiring to buy property in Portugal.

To summarize, the traditional Golden Visa route focused on real estate investments has ceased in Portugal. However, there are various alternative options available for aspiring immigrants. Investment funds provide a secure path for those who conduct thorough due diligence, offering opportunities in established and successful ventures. The D7 visa is suitable for individuals with consistent passive income, encouraging a steady financial contribution to the Portuguese economy. Entrepreneurs and investors can take advantage of the flexibility offered by the D2 visa, allowing them to balance their international commitments while establishing a presence in Portugal.

In this ever-changing landscape, it is crucial for potential immigrants to explore these alternative pathways, thoroughly understanding their requirements and benefits. By embracing the evolving dynamics of Portuguese immigration policies, individuals can discover viable routes to residency and potentially, citizenship. The conclusion of the Golden Visa era for real estate signifies the beginning of a new chapter, where innovative approaches and diverse investment avenues redefine the immigrant experience in Portugal.

Scott Kirk

Founder of Visas.pt