Portugal Golden Visa: Guide for South Africans
Portugal’s Golden Visa programme offers non-EU/EEA/Swiss citizens, including South Africans, the opportunity to obtain Portuguese residency via investment in Portugal.
Our immigration experts at IAS can guide you through the Portugal Golden Visa application requirements and process. Contact the team online or at +44 (0) 3334149244.
Overview of the Portuguese Golden Visa
Portugal’s Golden Visa programme (Autorização de Residência para Atividade de Investimento) was introduced by the Portuguese authorities to attract foreign investments to Portugal. It offers foreign investors Portuguese residency in exchange for a substantial investment in Portugal.
Holders of the Golden Visa residence permit enjoy visa-free travel across the 29 countries of the Schengen Area and apply for permanent residency after 5 years. The pathway also permits dependent family members to come to Portugal and eventually obtain citizenship.
While Portugal is not the only European country that offers a residency-by-investment pathway, its Golden Visa Programme is popular among South African investors because of its variety of investment options and low residency requirement.
Portugal also offers a stable economic and political environment and an excellent quality of life.
Page Contents
- Overview of the Portuguese Golden Visa
- Benefits of a Portuguese Golden Visa
- How to Apply for the Portugal Golden Visa from South Africa?
- Portugal Golden Visa Requirements for South Africans
- Portuguese Golden Visa Fees
- Documents Required for Portugal Golden Visa Residence Permit for South Africans
- Getting an NIF Number and a Portuguese Bank Account
- Investment Options for the Portugal Golden Visa
- Validity and Renewal of the Portugal Golden Visa
- Permanent Residence and Citizenship in Portugal
- How IAS Can Help?
- Frequently Asked Questions
Benefits of a Portuguese Golden Visa
Portugal’s Golden Visa programme is one of the most popular residency-by-investment programmes in Europe because of its numerous benefits.
- Flexible investment options: Unlike most investment residency programmes, which offer limited investment options, Portugal’s Golden Visa programme offers several investment routes
- Low residency requirement: The Portuguese Golden Visa programme offers one of the lowest residency requirements in Europe. Golden Visa investors only need to spend 7 days in Portugal during the first year and at least 14 days during each subsequent two-year period
- Increased travel freedom: A Portuguese residence permit grants you the right to visa-free travel in all 29 states of the Schengen Area
- Access to Portuguese public services: Portuguese residency grants you the right to live, work, and study in Portugal, as well as access to all public services, including education and the Portuguese National Health Service
- Family inclusion: You can include your immediate and dependent family members, including dependent parents, in your Golden Visa application. Once approved, both you and your dependents will receive Portuguese residency and enjoy all resident rights
- Pathway to Portuguese/EU Citizenship: The Golden Visa programme provides a clear pathway to Portuguese citizenship. South African investors can apply for permanent residency after 5 years of holding a residence permit and may qualify for citizenship after 10 years of residency. This residency requirement was previously 5 years but was increased to 10 years for South Africans (and other non-EU and non-CPLP nationals), following a change to Portugal’s Nationality Law that took effect in May 2026
How to Apply for the Portugal Golden Visa from South Africa?
The application process for a Golden Visa in Portugal involves a series of steps:
- Choose an investment option that best suits your financial and residency goals.
- Prepare supporting documents – documents issued by non-Portuguese entities must be legalised or notarised. You will also need to provide certified Portuguese translations of documents that are not in English or Portuguese.
- Open a Portuguese bank account – you’ll need a Portuguese bank account to deposit your funds and make your chosen investment.
- Make a qualifying investment. Once your bank account is ready, you can transfer your investment funds to your Portuguese account, from which you will transfer them to your chosen investment institution.
- Submit your Golden Visa application online via the Agency for Integration, Migration, and Asylum (AIMA) portal.
- Get pre-approval and a biometrics appointment – AIMA will review your file for completeness after submission and issue you a pre-approval. You will be assigned a date and time for your biometrics appointment.
- Attend a biometric and verification appointment. All dependent family members included on your application must also be present for the appointment.
- Pay the residence permit fee.
- Pay the residence permit fee.
Portugal Golden Visa Requirements for South Africans
To qualify for Portugal’s Golden Visa programme, you must:
- Be at least 18 years old
- Be a citizen of a non-EU/EEA country or a non-Swiss national
- Have a clean criminal record in South Africa or your country of residence
- Provide evidence that the funds you are investing were obtained from lawful sources and comply with applicable anti-money laundering regulations
- Have a Portuguese bank account and tax identification number
- Make a qualifying investment in Portugal via any of the approved investment pathways
- Have valid health or medical insurance
- Maintain your investment throughout the Golden Visa residency period
Portuguese Golden Visa Fees
The fees associated with the Golden Visa application include document preparation costs (legalisation and notarisation), processing fees, resident permit fees, and legal fees, in addition to the investment amount. Depending on your investment route, you may also incur additional costs, such as management fees, subscription fees, and exit/redemption fees.
Legal fees vary by law firm and will depend on the scope of assistance you require for the application process.
For the government fees, here’s a breakdown of the cost:
- Processing fee (also known as the analysis fee): €605 per applicant, paid upon application submission
- Initial residence permit fee: €6,045 per applicant, paid after pre-approval during the biometric appointment
- Residence permit renewal: €3,022.60 per applicant. You’ll pay both the application processing fee and the residence permit renewal fee when applying to renew your residence card
Documents Required for Portugal Golden Visa Residence Permit for South Africans
You will need to submit the following supporting documents alongside your application.
- South African passport or travel document
- 2 Portuguese-standard passport photographs
- Police clearance certificate/criminal record from South Africa or your country of residence. This must be issued within the last 3 months before your application
- Proof of valid medical or health insurance
- Proof of qualifying investment in Portugal
- Evidence confirming that the investment funds were obtained from lawful sources
- Written and sworn declaration that you will maintain your investment in Portugal for the required duration
- Completed authorisation form allowing AIMA to access your criminal background records
- Proof of relationship with your dependants (marriage, civil partnership, or birth certificates), if you’re coming with family
- Receipt of your visa processing fee printed from the ARI portal
- Documents demonstrating good standing with the Portuguese Social Security and Tax & Customs authorities. The documents must be issued within the 45 days preceding the Golden Visa application date
Getting an NIF Number and a Portuguese Bank Account
You’ll need a Portuguese bank account to transfer your Golden Visa investment funds, and you’ll need a Portuguese tax identification (NIF) number to open a bank account.
The process of getting an NIF number is quite straightforward. You need a valid government-issued identification document and proof of residency in your home country.
You’ll submit these documents at a local Finanças office in Portugal, and you’ll be issued an NIF number within an hour. Your lawyer can obtain the NIF for you without you having to travel to Portugal.
Once you have your NIF number, you can open a bank account with any bank in Portugal with the following documents:
- Valid passport or other government-issued ID document
- Portuguese NIF number
- Proof of address in South Africa or your country of residence
- Proof of income, such as a payslip, bank statement, or employment contract
- A mobile phone number for activating the account via SMS
- An opening deposit for the new account
Investment Options for the Portugal Golden Visa
Overview
Following the October 2023 updates to the Golden Visa programme, real estate purchases and investments in real estate funds are no longer accepted as qualifying investments for a Golden Visa.
The 2023 update also removed the option of a capital transfer of €1.5 million to a Portuguese bank.
There are 5 qualifying investment options for Golden Visa applicants, which can be broadly grouped into 3:
- Company establishment and job creation
- Investment fund
- Donation to a cultural or scientific project
Company Establishment and Job Creation
This category is ideal for South African investors who want to establish a new business in Portugal or make a substantial investment in an existing business. This category offers two investment options.
- Establishing a new single-shareholder business that will create at least 10 full-time jobs in Portugal (reduced to 8 if the business is established in a low-density area). There is no minimum investment amount for this option. However, the company and the jobs it creates must be sustained throughout the Golden Visa residency period to qualify for residency renewal in Portugal.
- You can invest a minimum of €500,000 to establish a new company that creates at least 5 jobs in Portugal for up to 3 years, or invest €500,000 in an existing Portuguese business that maintains at least 10 jobs.
Investment Fund
The investment fund option is a popular choice for many Golden Visa applicants. It involves investing at least €500,000 to purchase units in a qualifying Portuguese investment or venture capital fund. The investment must be held for at least 5 years, starting from the purchase date.
Qualifying investment funds are venture capital or private equity funds that are registered in Portugal, regulated by the Portuguese Securities Market Commission and have at least 60 per cent of their investments in Portugal.
Investment funds are typically structured to last 5 to 7 years to meet the sustained investment requirement for the Golden Visa programme. Upon maturity, Golden Visa investors can withdraw their full investment and may even earn dividends, depending on the fund.
Donation or Contribution
This option caters to charitable investors willing to donate to specific scientific or cultural preservation projects in Portugal. There are two main pathways:
- Donating a minimum of €250,000 to an accredited institution conducting art and cultural projects geared towards promoting or preserving Portugal’s national heritage. The minimum amount is reduced by 20% if the project is in a low-density area.
- Donating at least €500,000 to an accredited public or private institution involved in an innovative scientific project that will contribute significantly to Portugal’s science and technology infrastructure.
These donations are one-off, non-refundable, and may not be ideal for investors seeking to recover their funds.
Validity and Renewal of the Portugal Golden Visa
Once your Golden Visa application is approved, you’ll be issued a residence card valid for 2 years. You’re required to spend a minimum of 14 days within the 2 years and maintain your investment in Portugal to qualify for a residence permit renewal.
After the initial 2 years, you can apply to renew your residence card. Your application will be approved, provided you still meet the conditions for a Golden Visa. Upon renewal approval, you’ll be issued a residence card valid for 3 years.
You can choose to renew your temporary residence after 3 years (a total of 5 years) or apply for permanent residency. You must have maintained your investment and spent a minimum of 21 days in total within the last 3 years to qualify for renewal or permanent residency.
However, you’re not required to maintain your investment beyond the 5 years of initial residence.
Permanent Residence and Citizenship in Portugal
You can apply for permanent residency in Portugal after 5 years of holding a Golden Visa residence permit.
Under Portugal’s nationality law, you can apply for citizenship after 10 years of being a legal resident, effective from the day your initial residence card was officially issued.
To qualify for permanent residency, you must:
- Have maintained your residency status and Golden Visa investment for the last 5 years
- Have a clean criminal record both in Portugal and South Africa
- Demonstrate A2-level proficiency in Portuguese
- Have a valid Portuguese address
- Have good financial standing, a clean tax record, and zero social security debt
There are 2 paths to permanent residency for Portugal Golden Visa holders.
- Golden Visa Permanent residency: This route exempts Golden Visa holders from the standard physical presence requirement for maintaining permanent resident status. If you apply for permanent residency through this route, you won’t be required to make Portugal your primary residence; you can simply maintain the 7 days of physical presence per year to keep your residency status. However, this route costs significantly more than the standard permanent residency route
- Standard Permanent residency: The standard permanent residency route has a lower cost of €252 in government fees. However, it is also less flexible. If you obtain permanent residency through this route, you run a risk of losing your permanent resident status if you’re absent from Portugal for up to 24 consecutive months or a total of 30 months in 3 years
Regardless of the application route, you’ll be issued a permanent residence card valid for 5 years if your application is approved. You can renew the residence card after 5 years or apply for Portuguese citizenship.
Portuguese citizenship grants you the right to obtain a Portuguese passport, which gives you visa-free access to more than 170 countries. Portugal allows for dual citizenship, so you won’t lose your South African citizenship or any other citizenship you hold when you obtain Portuguese citizenship. You can also pass your Portuguese citizenship to your children.
How Can IAS Help?
The Portuguese Golden Visa is one of the best pathways to obtain EU residency, especially if you do not want to relocate to Portugal from South Africa permanently yet.
However, because it involves substantial capital investment and numerous supporting documents, hiring a professional gives you the best chance of getting it right the first time and protecting your investment.
Our Golden Visa specialists at IAS are available to guide you through the process, from the initial application to receiving your residence card. We will look through the investment options with you to determine the most suitable for your financial goals.
Once you’ve invested the funds, we will help you complete the online application and prepare your supporting documents to ensure compliance. Our lawyers can also help you prepare for your verification interview in Portugal and maintain contact with AIMA until your residence permit is approved.
Contact us online today or at +44 (0) 3334149244 to speak with one of our Golden Visa specialists about applying from South Africa.
Legal Disclaimer
The information provided is for general informational purposes only and does not constitute legal advice. While we make every effort to ensure accuracy, the law may change, and the information may not reflect the most current legal developments. No warranty is given regarding the accuracy or completeness of the information, and we do not accept liability in such cases. We recommend consulting with a qualified lawyer at Immigration Advice Service before making any decisions based on the content provided.
Last modified on October 8th, 2026 at 1:28 pm
Advice Package
Comprehensive immigration advice tailored to your circumstances and goals.
Application Package
Designed to make your visa application as smooth and stress-free as possible.
Fast Track Package
Premium application service that ensures your visa application is submitted to meet your deadline.
Appeal Package
Ensure you have the greatest chance of a successful appeal. We will represent you in any case.
The Advice Package
With our untimed Advice Session, our professional immigration lawyers will review your case and provide you with comprehensive advice, completely tailored to your needs and your situation.
The Application Package
With our Application Package, your dedicated caseworker will advise you on your application process and eligibility. Your legal advisor will then complete and submit your forms to the Home Office on your behalf.
The Fast Track Package
Our Fast-Track Application Package is a premium service for those who need to submit their application in time with their deadlines. Your case will become a top priority for our lawyers and you will benefit from our highest-quality services.
The Appeal Package
By choosing our Appeal Package, you can rely on our lawyers’ legal knowledge and experience to ensure you have the highest chance of a successful appeal. We will also fully represent you in any hearings/tribunals.
Related pages for your continued reading.
Frequently Asked Questions
No, you cannot obtain residency by buying a house in Portugal. The new Golden Visa rules introduced in 2023 outlawed direct real estate purchases as investment options for the Golden Visa programme.
South Africans can participate in the Golden Visa programme by making a qualifying investment in the Portuguese economy. You’ll receive temporary Portuguese residency in exchange for your investment, provided you meet all other Golden Visa requirements.
The Portuguese Golden Visa programme remains one of the most flexible pathways to EU residency through investment.
While you might have to wait longer to gain Portuguese citizenship, the flexible residency requirements mean you can maintain primary residence in South Africa or your country of residence without losing your Portuguese residency status.
