Portugal's Golden Visa program has been one of the most popular residency-by-investment schemes in Europe. In 2024, the rules changed significantly — particularly around real estate. Here's what you need to know if you're considering Portugal as an investment destination.
What Changed in 2024
Direct residential real estate purchases are no longer eligible as a qualifying Golden Visa investment. This applies to both new and existing residential properties anywhere in Portugal. The change was introduced to ease housing pressure in major urban centres.
What Still Qualifies
- Investment funds (minimum €500,000) supporting Portuguese companies or projects
- Capital transfer of €1.5 million or more into Portugal
- Job creation (minimum 10 full-time jobs)
- Cultural heritage donations (minimum €250,000)
- Scientific research investment (minimum €500,000)
Can You Still Buy Property?
Absolutely. Buying property in Portugal is still fully legal and financially sensible for many buyers. It simply no longer qualifies as the investment vehicle for Golden Visa residency. Many expats buy property independently of any visa strategy — for lifestyle, retirement, or rental yield purposes.
What If You Want Both?
Some clients pursue both paths: buying property for personal or rental use, while separately making a fund investment to qualify for the Golden Visa. This requires careful financial planning and legal advice.
The Golden Visa landscape has shifted, but Portugal remains an exceptional destination for property buyers. Understanding the rules clearly helps you make the right financial decisions.