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For foreign nationals who wish to work and live in the European Union, the Portugal Golden Resident Visa Program (GRP) is a very popular opportunity.

As one of the only programs of its kind that is accepted by the Organization for Economic Co-operation and Development, the GRP is designed to grant foreign nationals residency in Portugal. It is also a direct path to citizenship (and its many associated benefits) after five years. 

This program is one of the most straightforward ways to obtain residency from an EU country thanks to its relatively low requirements, primarily depending on the applicant’s ability to invest in either Portuguese real estate, research, or the economy.

Changes to the GRP in 2022

As of January 1 2022, the GRP is undergoing some key changes, including new limits on qualifying areas for residential real estate investment. Some investment options will also become more costly. On the other hand, the qualifying area restrictions have not changed for commercial real estate.

The following changes are now in effect:

  • Residential real estate investments in select popular areas will no longer qualify: this includes urban areas like the Algarve, Lisbon, and Porto, and coastal towns such as Setubal and the Silver Coast
  • Applicants are only permitted to acquire residential real estate in designated areas of the country, and the properties must be worth at least €500,000 (€350,000 for rehabilitation projects)*
  • Applicants are able to purchase commercial, service-based, or industrial real estate anywhere in Portugal, and the properties must be worth at least €500,000 (€350,000 for rehabilitation projects)*
  • Applicants may purchase residential, commercial, service-based, or industrial real estate anywhere in Portugal’s autonomous islands of Azores and Madeira. These properties must be worth at least €500,000 (€350,000 for rehabilitation projects)

*Applicants can benefit from a 20% reduced required investment for properties in designated low-density areas.

Changes to capital transfer rules in 2022

Effective January 1, applicants who choose the capital transfer route will have to make a more significant investment: the minimum amount is now €1.5 million, up from €1 million.

For investment funds (i.e. venture capital funds), the minimum required investment is now €500,000, up from €350,000. This increase applies to both investments in scientific research and existing Portuguese businesses.

At a glance

 
2021 amount
2022 amount
Capital Transfer€1 million€1,5 million
Investment Fund€350,000€500,000
Residential Real Estate€500,000 (€350,000 for rehabilitation projects)Amounts remain unchanged, but projects in popular areas no longer qualify (Algarve, Lisbon, Porto, Setubal, and the Silver Coast)
Commercial Real Estate€500,000 (€350,000 for rehabilitation projects)Amounts remain unchanged
Science and Research Activities€350,000€500,000

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