Alternative Golden Visa Investment Options

Here's a quick comparison of all qualifying investment pathways:

Note: Investment funds remain the most popular choice due to their passive nature, regulatory framework, and clear exit strategy. However, these alternatives may be better suited to specific investor profiles.

Investment funds represent over 80% of Golden Visa applications in 2026. This pathway requires subscribing to units in CMVM-regulated investment or venture capital funds.

Key Requirements:

• Minimum €500,000 investment
• Fund must allocate at least 60% to Portuguese companies
• Minimum 5-year fund maturity at time of investment
• Most funds target 7-10 year terms

Advantages:

• Passive investment with professional management
• Diversification across multiple companies
• Clear regulatory framework and investor protections
• Established exit strategies

Considerations:

• Returns depend on fund performance (4-20% annually depending on strategy)
• Management fees (1.5-2.5% annually) and performance fees (20-35% of profits)
• Less control over specific investments

This is the primary focus of our advisory service. See our Fund Database for detailed comparisons.

The pure employment model requires creating jobs for Portuguese workers without a mandated capital investment.

Key Requirements:

• Create at least 10 full-time jobs
• In low-density areas: reduced to 8 jobs
• Jobs must be filled by individuals legally entitled to work in Portugal
• Compliance with Portuguese labor laws and social security contributions
• Maintain employment for 3-5 years

Best Suited For:

• International firms opening Portuguese branches
• Major industrial or manufacturing projects
• Service companies with significant staffing needs

Advantages:

• No minimum capital requirement
• Direct contribution to Portuguese economy
• Flexibility in business structure

Considerations:

• Ongoing operational responsibilities
• Labor law compliance complexity
• Must demonstrate genuine employment relationship

Learn more about Job Creation requirements →

This entrepreneurial route combines capital investment with job creation in a structured business format.

Key Requirements:

• Transfer at least €500,000 for incorporation or share capital increase
• Create at least 5 permanent jobs
• Maintain jobs for minimum 3 years
• Company must be registered and headquartered in Portugal

Alternative: Increase share capital of existing Portuguese company by €500,000, creating 5 new jobs or maintaining 10 jobs (with 5 being new).

Best Suited For:

• Tech founders scaling European operations
• Venture builders establishing Portuguese presence
• Entrepreneurs with specific business plans

Advantages:

• Combine residency with active business involvement
• Potential for business growth and returns
• Greater control than fund investment

Considerations:

• Active management required
• Business risk exposure
• Corporate tax obligations (21% standard rate)

Learn more about Company Incorporation →

This pathway supports Portugal's ambition to become a European hub for research and innovation.

Key Requirements:

• Transfer at least €500,000 to research activities
• In low-density regions: reduced to €400,000
• Must be directed to public or private scientific research institutions
• Institutions must be integrated into the national scientific and technological system

Best Suited For:

• Investors with philanthropic goals
• Those with connections to biotech, cleantech, or tech sectors
• Individuals valuing contribution over financial return

Advantages:

• Lower threshold in low-density areas
• Contribution to meaningful research
• Potential for ongoing involvement in research community

Considerations:

• Capital is typically non-refundable (functions as donation)
• No financial return expected
• Limited supply of qualifying projects

Learn more about Scientific Research contributions →

The "Cultural Golden Visa" offers the lowest entry point into the program, supporting artistic production and national heritage preservation.

Key Requirements:

• Minimum €250,000 investment
• In low-density areas: reduced to €200,000
• Projects must be pre-approved by GEPAC (Portuguese Office for Cultural Strategy)
• Supports artistic production or recovery/maintenance of cultural heritage

Best Suited For:

• Budget-conscious investors
• Those prioritizing residency over returns
• Investors with interest in arts and culture

Advantages:

• Lowest capital requirement of all options
• Meaningful contribution to Portuguese culture
• Same residency benefits as higher-cost routes

Considerations:

• Capital is non-refundable (donation)
• Limited project availability
• GEPAC approval process required
• No financial return

Learn more about Cultural Heritage investment →

While not technically a "Golden Visa," the Highly Qualified Activity (HQA) visa offers an alternative residency pathway with lower investment and faster processing.

Key Requirements:

• Investment of approximately €175,000
• Partnership with a Portuguese university research project
• Engagement in "highly qualified" professional activity

Key Differences from Golden Visa:

• Faster processing: 3-6 months vs 12-18 months
• Lower investment threshold
• May not include extended family (dependent parents) from day one
• Different renewal structure

Best Suited For:

• Academics and researchers
• Those prioritizing speed over family inclusion
• Investors with university or research connections

Advantages:

• Lowest investment of all pathways
• Significantly faster processing
• Academic/research community integration

Considerations:

• More limited family inclusion options
• Requires genuine research involvement
• Less established pathway than ARI

Learn more about the HQA Visa alternative →

For context, the 2023 "Mais Habitação" reforms eliminated these previously popular pathways:

Direct Real Estate Investment (Terminated October 2023)

• Previously: €500,000 standard, €350,000 renovation, €280,000 low-density renovation
• Was the primary driver of the program for over a decade
• Removed to address domestic housing market pressures

Passive Capital Transfers (Terminated October 2023)

• Previously: €1.5 million bank deposit or government bond purchase
• Considered "lazy capital" that didn't contribute to economic development
• Eliminated in favor of "active" investment pathways

Grandfathering: Investors who submitted applications before October 2023 may continue renewing based on their original investments.

Consider these factors when selecting your investment pathway:

If you want passive investment with potential returns:
→ Investment Funds (€500,000) — Our specialty

If you're expanding an existing business to Europe:
→ Job Creation (no minimum capital, 10 jobs)

If you're an entrepreneur with a specific business plan:
→ Company Incorporation (€500,000 + 5 jobs)

If you have philanthropic goals and research connections:
→ Scientific Research (€500,000 / €400,000)

If minimizing capital outlay is your priority:
→ Cultural Heritage (€250,000 / €200,000)

If speed is your top priority:
→ HQA Visa (€175,000, 3-6 month processing)

Most investors choose funds because they offer the best balance of:

• Passive management (no operational involvement)
• Regulated framework (investor protections)
• Potential returns (unlike donations)
• Clear exit strategy (defined fund terms)

Not sure which option fits your situation? Get a personalized consultation →