Portugal Golden Visa: Secure Retirement & EU Citizenship

Executive summary

1. High net worth families face growing economic and political uncertainty that can undermine traditional retirement and wealth preservation plans.
2. The Portugal Golden Visa offers Portuguese residency, visa-free travel in the Schengen Area, and a pathway to Portuguese citizenship without requiring relocation.
3. Golden Visa-eligible fund investments in Portugal’s hospitality sector, such as the VIDA Fund advised by VIDA Capital, focus on asset-backed strategies and capital preservation.
4. Portugal’s 14-day every two years minimum stay requirement makes it a competitive Plan B compared with Greece, which requires residence for long-term status, and Spain, which has closed its Golden Visa program.
5. Specialized legal counsel and advisory support from VIDA Capital help simplify the 12 to 18 month Golden Visa process, fee planning, and long-term residency and citizenship strategy.

The problem: how traditional retirement planning falls short for HNWIs today

Unprecedented global instability is reshaping HNWI financial security

Many high net worth individuals now question whether one country can reliably protect their wealth, lifestyle, and family plans. An estimated 142,000 millionaires plan to relocate in 2025, reflecting significant concern about the stability of their current jurisdictions. This scale of movement highlights deep worries about economic volatility, regulatory changes, and political uncertainty.

The traditional pillars of retirement planning, such as domestic markets, home-country currencies, and assets concentrated in one jurisdiction, now feel exposed to global shocks. Wealthy families increasingly evaluate how shifts in tax policy, capital controls, or political direction could impact capital preservation, succession planning, and day-to-day security. These concerns often extend beyond finances to include healthcare access, education options for children, and overall quality of life.

Global mobility and a structured Plan B are now essential

Many high net worth individuals now treat geographic diversification as a core part of their retirement and wealth planning. A growing number are building “mobility portfolios,” combining multiple residencies and citizenships to hedge fiscal, legal, and political risks. One passport or residency is often no longer seen as sufficient protection.

The idea of a Plan B has shifted from optional to strategic. Families want the ability to pivot if their primary country changes in ways that affect safety, taxation, or lifestyle, while still keeping their main base of life and business if they choose. More than 30% of global investment migration applications now come from US nationals, showing that demand for diversification is rising even in traditionally stable jurisdictions.

The Portugal Golden Visa as a structured Plan B for retirement

How the Portugal Golden Visa works

The Portugal Golden Visa is a residency-by-investment program that grants non-EU investors and their families the right to live, study, and work in Portugal through qualifying investments. Many governments now use residency-by-investment frameworks to support economic development under stricter legal and compliance standards. Portugal’s program fits this trend with clear rules and regulated investment options.

Current Portuguese rules focus on fund-based investments that meet a minimum contribution of €500,000 into approved investment funds. For Golden Visa applicants, this approach combines professional management, regulatory oversight, and diversification across underlying assets.

Golden Visa residency grants rights only in Portugal, not across the European Union. Successful applicants obtain Portuguese residency status and visa-free travel in the Schengen Area for short visits, alongside a pathway to Portuguese citizenship for those who meet long-term requirements.

Key advantages of the Portugal Golden Visa for retirement planning

Portugal’s Golden Visa offers several features that align with long-term retirement and family planning.

Portuguese residency and a path to citizenship: The Golden Visa grants a temporary Portuguese residency permit, valid for two years and renewed in additional two-year periods, as long as requirements are maintained. Under the framework introduced in October 2025, new applicants can pursue Portuguese citizenship after 10 years of residence.

Nationals of Portuguese-language countries in the CPLP and EU citizens face a reduced requirement of seven years. Once you secure a Portuguese passport, you gain full EU citizenship rights, including the ability to live, work, and study, and access public healthcare and education, in any EU or Schengen Zone country.

Enhanced mobility within Europe: Golden Visa holders can travel visa-free within the Schengen Area for up to 90 days in any 180-day period. This benefit simplifies both business and leisure travel without requiring multiple visa applications or long-term relocation.

Comprehensive family coverage: The program can include spouses or partners, economically dependent children, and parents or in-laws who are either over 65 or financially dependent on the main applicant. Children older than 18 must be full-time students, financially dependent, not working, and they must remain unmarried until the Golden Visa process and any related applications are complete. Document-wise, families can present either a marriage certificate or other formal proof of relationship, for example, in the case of a common-law partner.

Flexible residence requirements for busy professionals: The Golden Visa requires a minimum of 14 days of physical presence in Portugal every two years. This low threshold suits investors who manage global businesses or maintain careers elsewhere. Greece and Spain require residents to live in-country to keep long-term residency, while Portugal’s limited stay requirement remains competitive for those seeking a Plan B.

Travel and residency rights combined with long-term citizenship potential: For investors who meet all ongoing conditions, the Golden Visa offers a path from temporary residency to permanent residency after five years, then to Portuguese citizenship over the longer term. This structure allows families to build optionality over time without sudden lifestyle changes.

Secure your Portuguese residency and a path to Portuguese citizenship through a Golden Visa. VIDA Capital provides advisory support for asset-backed fund investments in Portugal’s hospitality sector.

The VIDA Capital advantage: advisory for asset-backed Golden Visa investments

Portugal’s hospitality sector as a structured investment opportunity

Portugal’s hospitality industry has become an important driver of the national economy, supported by strong tourism performance and international visibility. The country welcomed around 31 million international visitors in 2024, with tourism revenues reaching approximately €27 billion. Visitor numbers now exceed pre-pandemic levels, which illustrates the resilience and long-term appeal of the destination for leisure and business travel.

Future events and structural trends add further momentum. Portugal will co-host the 2030 FIFA World Cup, which is expected to generate substantial economic activity and stimulate hospitality demand. Projections from the World Travel & Tourism Council suggest that by 2035, travel and tourism could represent more than 20% of Portugal’s GDP, signaling continued relevance for well-positioned hospitality assets.

Capital preservation through asset-backed investments with the VIDA Fund

The VIDA Fund, advised by VIDA Capital, focuses on asset-backed investments in Portugal’s hospitality sector that qualify for the Golden Visa fund route. A broader shift toward diversified, asset-backed strategies reflects investor interest in capital preservation and regulatory clarity.

The VIDA Fund concentrates on acquiring existing hospitality businesses, which are tangible assets with underlying value, instead of speculative or early-stage projects. By advising on investments in physical assets, VIDA Capital helps investors access a portfolio where capital preservation is a primary goal. Historical returns are not a guarantee of future returns, and every investment carries risk, but the asset-backed approach aims to provide an additional layer of security through ownership of operating properties.

The VIDA Fund operates under Portuguese regulatory supervision, is regulated by the Portuguese Securities Market Authority (CMVM), and is audited twice a year by Deloitte. This framework supports clear governance, reporting, and compliance for Golden Visa investors.

The VIDA Fund’s “second life” strategy for hospitality assets

The VIDA Fund uses a “giving hotels a second life” strategy that targets underperforming hospitality assets with clear potential for operational improvement. The fund does not build new hospitality properties. It acquires existing hotels and similar businesses and then transforms them through focused capital investment and management upgrades.

The owner-operator model allows the team to implement light refurbishments, improve layouts, and enhance service and revenue management. These changes aim to increase occupancy, daily rates, and overall asset value, while supporting Portugal’s long-term tourism development objectives. Historical returns are not a guarantee of future returns, but hands-on operational control can create additional levers for value creation compared with passive approaches.

The VIDA Fund management team has experience overseeing more than €4 billion in assets, completing over 100 private equity transactions, and working with more than 1,000 investors globally. This background supports disciplined asset selection, risk management, and execution across the hospitality portfolio.

Personalized and transparent advisory support from VIDA Capital

VIDA Capital focuses on tailored advisory services for high net worth individuals who are considering the Portugal Golden Visa through the VIDA Fund. Each investor receives a dedicated point of contact who coordinates with immigration lawyers, the fund manager, and the investor’s own family office or advisors where relevant.

The advisory team maintains regular communication through email, video calls, and messaging applications, and can arrange weekend support when necessary. This structure helps investors and their families stay informed at each stage, from initial assessment through application and renewals.

Transparency is central to VIDA Capital’s approach. The team outlines all expected costs in advance, including government fees, legal fees, and fund subscription expenses. Advisors also assess whether the Golden Visa aligns with an investor’s objectives and are prepared to advise against proceeding if the program is not an appropriate fit.

VIDA Capital acts as a liaison between investors, legal counsel, and the VIDA Fund, which reduces the administrative workload for clients and supports a coordinated process from investment subscription to residency approvals.

Navigating the Portugal Golden Visa process with confidence

The Portugal Golden Visa process typically spans 12 to 18 months from initial preparation to issuance of the first residency card, although individual timelines can vary. A specialized Portuguese immigration lawyer is essential at every step to ensure compliance with current regulations and to manage documentation for you and your family.

Key stages on the path to your Golden Visa

Pre-application and investment: The process starts with foundational steps carried out with your lawyer. You first obtain a Portuguese tax number, known as a NIF, which your legal counsel can usually arrange remotely. Your lawyer then helps you open a Portuguese bank account, often without an in-person visit. After these steps, you select and complete a Golden Visa-eligible fund investment of at least €500,000, such as a regulated fund in the hospitality sector.

Application submission and biometrics: Your immigration lawyer prepares and submits the initial Golden Visa application online for you and all included family members. Once the Agency for Integration, Migrations and Asylum (AIMA) grants preliminary approval, you and each family member attend an in-person appointment in Portugal for biometric data collection.

Residency card issuance and renewals: After final approval, you receive a temporary residency permit valid for two years. As the approval card issuance usually takes a year, you will most likely only need to do a single renewal instead of two in the 5-year period. Each renewal requires proof that your qualifying investment remains in place, confirmation that you have spent at least 14 days in Portugal over the previous two years, updated biometric data, and recent criminal background checks.

Path to permanent residency and citizenship: After maintaining temporary residency for five years and meeting all Golden Visa conditions, you may apply for permanent residency in Portugal. For citizenship, Portugal’s Parliament passed a framework in October 2025 that introduced longer timelines. Applicants now need 10 years of residence before they qualify for Portuguese citizenship, with a reduced requirement of seven years for nationals of Portuguese-language countries in the CPLP and for EU citizens. The new law should apply to Golden Visa applicants except for those who submitted their citizenship application before the new law is published.

Understanding the costs: a clear view of Golden Visa fees

Investors should plan for several fee categories before starting a Golden Visa application.

Government fees currently include:

1. €618.60 per family member for the initial Golden Visa application submission
2. €6,179.40 per family member for the first residency card issuance at the biometrics stage
3. €3,023.20 per family member for each renewal of the residency card
4. €250 per family member for citizenship application fees at the relevant stage

Legal fees vary by law firm but often range between €16,000 and €20,000 for full-service Golden Visa support for a family. These services usually cover NIF issuance, bank account opening, application preparation, biometrics coordination, and renewals.

Fund-related fees depend on the chosen investment. The VIDA Fund, for example, charges a 1% subscription fee on the invested amount, paid to the fund manager. A clear understanding of all government, legal, and fund fees allows investors to calculate total program costs and integrate them into broader financial planning.

Portugal versus other European investment migration options

Comparing Portugal’s Golden Visa with other European options helps clarify its role in a broader mobility and retirement strategy.

Portugal is currently one of the only countries in Europe that offers access to citizenship without requiring you to relocate there full-time. Greece and Spain require you to live in the country to keep long-term residency, and Greece links citizenship eligibility to at least seven years of residence and tax residence. Spain closed its Golden Visa program in 2025, which has increased attention on Portugal for investors seeking an EU-linked Plan B.

Secure your Portuguese residency and a path to Portuguese citizenship through the Golden Visa. VIDA Capital advises on asset-backed fund investments in Portugal’s hospitality sector that qualify for the program.

Frequently asked questions about the Portugal Golden Visa and VIDA Capital

What is the Portugal Golden Visa?

The Portugal Golden Visa is a residency-by-investment program that allows non-EU investors and their families to obtain Portuguese residency within the European Union through qualifying investments. The standard route requires a minimum investment of €500,000 in eligible investment funds, such as the VIDA Fund, which focuses on asset-backed strategies in Portugal’s hospitality sector.

Investors receive a temporary residency permit valid for two years, with subsequent renewals every two years, and can apply for permanent residency after five years of legal residence if they meet the conditions. The program can include spouses or partners, dependent children, and qualifying parents or in-laws, which makes it suitable for families planning together.

Do I need to relocate to Portugal to maintain my Golden Visa?

No relocation is required to keep your Portugal Golden Visa. You must spend at least 14 days in Portugal during each two-year residency period to maintain your status. This limited presence requirement allows investors to continue living and working in their primary country while building a long-term residency and citizenship option in Portugal.

Is Portugal’s Golden Visa still active after recent changes?

Portugal’s Golden Visa program remains active and accepts new applications in 2025. Legislative changes in October 2023 removed some investment routes, such as personal properties, but fund-based investments remain fully eligible. In October 2025, Portugal introduced longer timelines for citizenship, with most Golden Visa applicants now needing 10 years of residence before applying.

The program continues to offer Portuguese residency, visa-free travel in the Schengen Area for up to 90 days in any 180 day period, and a clear structure for moving from temporary residency to permanent residency and, eventually, citizenship for those who meet all requirements.

How does VIDA Capital support me through the Golden Visa process?

VIDA Capital provides end-to-end advisory support throughout the Golden Visa journey. The team helps you assess whether the program aligns with your objectives and risk profile, and it remains available throughout the process for you and your family members.

VIDA Capital can introduce you to specialized Portuguese immigration law firms and provides in-house guidance on immigration steps, documentation, and timing. Communication typically includes email, calls, and messaging tools such as WhatsApp, with flexibility for different time zones and busy schedules.

Each investor works with a dedicated point of contact who coordinates between you, your lawyer, and the VIDA Fund. This role helps ensure consistent information, minimizes duplication of effort, and supports a smoother experience from fund subscription through application, biometrics, and renewals.

What distinguishes the VIDA Fund from other investment funds?

The VIDA Fund is differentiated by its focus on asset-backed investments in existing hospitality businesses in Portugal. Instead of allocating capital to speculative developments, the fund acquires operating hotels and hospitality assets, then implements targeted upgrades and operational improvements to increase value. This approach aims to balance capital preservation with potential upside from improved performance. Historical returns are not a guarantee of future returns, and all investments involve risk.

The fund’s “second life” strategy centers on giving established hotels and similar properties a more modern and efficient operating model. The management team has experience managing more than €4 billion in assets and executing over 100 private equity deals. The VIDA Fund is regulated by the Portuguese Securities Market Authority (CMVM) and undergoes bi-annual audits by Deloitte, providing structure and oversight for Golden Visa investors who choose this route.

Conclusion: building a resilient Plan B with the Portugal Golden Visa

High net worth individuals face a more complex risk environment than in previous decades, with local shocks increasingly carrying global consequences. Traditional retirement and wealth strategies that rely on a single jurisdiction can feel vulnerable in this context.

The Portugal Golden Visa, combined with a carefully selected fund investment such as the VIDA Fund, offers a structured way to add geographic diversification, Portuguese residency, and a pathway to citizenship into your long-term plans. Portugal’s limited stay requirement of 14 days every two years, family inclusion rules, and regulated fund environment support investors who seek optionality without immediate relocation.

VIDA Capital’s advisory role, focused on asset-backed hospitality investments and close coordination with immigration lawyers, helps investors navigate the practical details of the Golden Visa process with greater clarity. This combination of regulated investment structures and professional guidance can support a more resilient retirement and succession strategy for globally oriented families.

Now is an appropriate time for many investors to review their mobility planning, retirement structures, and family protection strategies. Secure your Portuguese residency and a path to Portuguese and EU citizenship rights through the Portugal Golden Visa. Consult with VIDA Capital to explore Golden Visa-eligible, asset-backed investments in Portugal’s hospitality sector.