Golden Visa Investment Options: Key Incoming Changes

Citing pressure to address the overheating property market in Lisbon and Porto, in particular, the Portuguese government recently announced a raft of changes to the Golden Visa Program’s investment options.

The accompanying table can help you make sense of the changes taking effect on 1 January 2022:

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Portugal Golden Visa Investment Options 2022

GOLDEN VISA INVESTMENT OPTIONS 2021 2022
Residential Property €280,000+ , €350,000+ , €400,000+ or €500,000+ , depending on the age and location of the property. €280,000+ , €350,000+ , €400,000+ or €500,000+ , depending on the age and location of the property. Residential real estate in Porto, Lisbon, the Silver Coast, Setubal and the Algarve region will no longer be eligible. Properties in the Azores islands will still qualify.
Commercial Property €350,000+ €350,000+. Commercial properties in Lisbon, Porto and the Algarve will still be eligible in 2022.
Fund Based Investment / Venture Capital  €350,000+  €500,000+
Capital Transfer €1 million €1.5 million
Business Investment creating minimum 5 jobs (Company Capitalization) €350,000+ €500,000+
Scientific Research Activities  €350,000+ €500,000+
Scientific Research Contribution / Startup Investment Hybrid: Highly Qualified Activity Visa €175,000 €175,000
Cultural Heritage Contribution €250,000 €250,000

As you can see from the above table, the HQA Visa, priced at €175,000 all-in, is the cheapest Golden Visa option in Portugal (and the cheapest in Europe). And while it isn’t a property based investment option, the lower capital layout means that you could additionally purchase a property worth €175,000, while still enjoying the full flexibility of a Golden Visa, and still only spend €350,000.

Alternatively, you could invest the €175,000 capital saving in an asset delivering higher returns than Portuguese property (around 3.6% gross per year). And you’ll still be able to obtain Portuguese residency without the need to comply with the minimum legislated stay requirements of conventional residency visas (e.g. employment based, or via the D7 Visa).