Portugal Golden Visa: Current Rules

The latest rules on Portugal's Golden Visa programme and what property buyers need to know.

Golden Visa changes

Portugal's Golden Visa programme was significantly reformed in 2023. Real estate purchases in most areas, including the Algarve, are no longer eligible for the programme.

What changed

Since October 2023, direct residential or commercial property purchases no longer qualify for a Golden Visa. The programme now focuses on:

Investment fund subscriptions (minimum EUR 500,000)

Scientific research contributions (minimum EUR 500,000)

Company creation with 10+ jobs

Research and cultural contributions

Impact on the Algarve market

The removal of property as a Golden Visa route has shifted the buyer profile in the Algarve. The market now primarily serves lifestyle buyers, retirees, and investors focused on rental returns rather than residency-driven purchases.

NHR successor: IFICI

The Non-Habitual Resident (NHR) tax regime closed to new applicants in 2024 and was replaced by the IFICI (Incentivo Fiscal à Investigação Científica e Inovação) regime, which is more restrictive and primarily targets researchers and tech workers.

Always consult a qualified tax advisor for current residency and tax planning advice.

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