Compare Portugal's investment-based Golden Visa with the entrepreneurial D2 Visa to determine which pathway to Portuguese residency aligns with your business ambitions and lifestyle preferences. Check our comparison of other Golden Visa programs to see how Portugal ranks.
Minimum investment of €500,000 in qualifying investment funds or €400,000 in venture capital/investment funds focused on Portugal (real estate options were phased out in 2023).
Minimal physical presence requirement: only 7 days in the first year, 14 days per subsequent 2-year period.
No business management or entrepreneurial activity required; purely investment-based.
Investment must be maintained for a minimum of 5 years to retain residency status.
Processing time typically ranges from 6–12 months due to investment due diligence. Check current processing statistics for up-to-date timeframes.
Family members (spouse, dependent children, parents) can be included in the application.
No minimum investment threshold, but typically requires €5,000–€50,000 to demonstrate business viability.
Requires a viable business plan and proof of financial capacity to support the business.
Must establish or purchase a business in Portugal, or secure a management position in an existing Portuguese company.
Residency requirement of at least 183 days per year in Portugal to maintain status.
Processing time typically 3–4 months from application submission.
Business must contribute to Portugal's economy through job creation, innovation, or other economic benefits.
| Feature | Golden Visa | D2 Entrepreneur Visa |
|---|---|---|
| Financial Requirement | €500,000 investment in funds or €400,000 in venture capital funds | No minimum, typically €5,000–€50,000 business capital |
| Physical Stay Requirement | 7 days in year 1, 14 days per 2-year period | Minimum 183 days/year |
| Business Activity | No active business management required | Active business management and operations required |
| Initial Validity | 2 years, renewable for 2-year periods | 2 years, renewable for 3-year periods |
| Processing Time | 6–12 months | 3–4 months |
| Application Fees | €5,325 (main applicant) + €532.70/additional family member | €180 (approx., varies by consulate) |
| Job Creation | No job creation requirements | Business should aim to create jobs for Portuguese residents |
| Path to Permanent Residency | After 5 years of maintaining investment | After 5 years of continuous business activity |
| Path to Citizenship | After 5 years, with A2-level Portuguese proficiency | After 5 years, with A2-level Portuguese proficiency |
| Family Inclusion | Spouse, dependent children, and dependent parents | Spouse and dependent children |
| Tax Implications | NHR regime may apply; investment income taxed separately | Business income taxed at Portuguese corporate rate; personal income eligible for NHR benefits |
High-net-worth individuals seeking EU residency with minimal time commitment.
Passive investors looking to diversify their investment portfolio with qualifying funds.
International business executives who need to maintain residences in multiple countries.
Retirees or individuals who want EU residency benefits without relocating full-time.
Those seeking to include extended family members (including parents) in residency applications.
Entrepreneurs wanting to start a new business venture in Portugal.
Business owners looking to expand existing operations into the European market.
Professionals seeking to purchase and manage an existing Portuguese business.
Active investors with industry expertise who want hands-on involvement.
Those with limited capital but strong business acumen and entrepreneurial skills.
Choosing between the Golden Visa and D2 Entrepreneur Visa depends on your investment capacity, entrepreneurial ambitions, and desired level of involvement in Portuguese business activities. Here are important factors to consider:
Business Commitment: The D2 requires active business operation and management, while the Golden Visa is a passive investment arrangement. Consider your willingness to actively run a business versus simply maintaining an investment.
Physical Presence: The Golden Visa's minimal stay requirements (as little as 7 days per year) make it ideal for those who cannot or do not wish to relocate to Portugal full-time. The D2 requires significant physical presence (183+ days/year), suitable for those planning to actually live in Portugal.
Financial Considerations: The Golden Visa requires a substantial upfront investment (€280,000–€500,000) with no guaranteed returns. The D2 typically requires much less capital but comes with the business risks and operational responsibilities of entrepreneurship.
Tax Implications: Both visa holders can apply for Portugal's Non-Habitual Resident (NHR) tax regime, offering favorable treatment for certain income sources for 10 years. However, D2 holders must consider additional business taxation, including corporate tax rates (currently 21%) and social security contributions.
Processing Time: The D2 typically processes faster (3–4 months) compared to the Golden Visa (6–12 months), making it a quicker path to residency for those ready to start business activities immediately.
Market Knowledge: D2 applicants should possess relevant business expertise and understanding of the Portuguese market to increase chances of approval. A thorough business plan demonstrating economic viability and benefit to Portugal is essential.
Next Steps: For the Golden Visa, research qualifying investment funds (since real estate is no longer an option) and engage a financial advisor familiar with Portuguese fund opportunities. For the D2, develop a comprehensive business plan, conduct market research, and consider partnering with Portuguese business development resources. For either option, you may want to consult with a specialized immigration lawyer.
Both visas offer viable pathways to Portuguese residency and eventual citizenship, but they cater to different profiles and objectives. Evaluate your entrepreneurial goals, investment capacity, and lifestyle preferences to determine which option best aligns with your long-term plans.
Yes, it's possible to switch between visa types while in Portugal, but it requires filing a new application that meets all the requirements of the visa you're switching to. You would need to demonstrate that you fulfill all conditions of the new visa category (either making the qualifying investment for Golden Visa or establishing a business for D2). This process is handled through SEF (Portuguese Immigration and Borders Service), and you should consult with an immigration lawyer before making the switch to ensure you maintain legal residency status throughout the transition.
For Golden Visa renewals (every 2 years), you must demonstrate that you've maintained your qualifying investment for the required period. You'll need to provide updated documentation on your investment status, criminal record checks, and proof that you've met the minimum stay requirements (7 days in the first year, 14 days per 2-year period thereafter).
For D2 Visa renewals (initially after 2 years, then every 3 years), you must prove your business remains active and viable. This includes providing financial statements, tax returns, proof of social security contributions, evidence of job creation or economic benefit to Portugal, and documentation showing you've maintained legal residence in Portugal for at least 183 days per year.
Qualifying funds for the Golden Visa must be:
Funds typically focus on sectors like technology, renewable energy, agriculture, tourism infrastructure, or commercial real estate. It's crucial to perform due diligence on any fund, as risk profiles, investment strategies, and expected returns vary significantly. You can view a complete list of qualifying funds here.
The Portuguese authorities favor businesses that:
Successful D2 applications typically include detailed business plans with market research, financial projections for at least 3 years, and clear evidence of the applicant's relevant expertise and financial capacity to sustain the business until profitability.
Remote business owners operating on a D2 Visa have several tax considerations:
1. If you establish a Portuguese company, it will be subject to Portuguese corporate tax (currently 21%), plus municipal surcharges.
2. If you operate as a sole trader or freelancer, you'll pay Portuguese personal income tax on your worldwide income, with rates ranging from 14.5% to 48% depending on income level.
3. You may qualify for the Non-Habitual Resident (NHR) tax program, which offers:
It's essential to consult with a Portuguese tax advisor before establishing your business structure, as tax optimization strategies depend on your specific business model, income sources, and home country tax treaties with Portugal. For more details on tax benefits, see our guide to Portugal's tax advantages.
Yes, purchasing an existing Portuguese business is a valid pathway for the D2 Visa, and often presents advantages:
When pursuing this route, you'll need to:
Due diligence is critical when acquiring an existing business to ensure there are no hidden liabilities or compliance issues that could affect your visa application.
Both the Golden Visa and D2 Visa offer the same potential timeline to Portuguese citizenship:
The key difference is in how you maintain your residency status during these 5 years:
• Golden Visa: You only need to be physically present in Portugal for 7 days in the first year and 14 days in each subsequent 2-year period, while maintaining your qualifying investment.
• D2 Visa: You must reside in Portugal for at least 183 days per year and maintain an active business throughout the 5-year period.
This makes the Golden Visa significantly more flexible for those who cannot or do not wish to relocate full-time to Portugal, while still providing the same path to citizenship as the D2 Visa. For current processing times and application success rates, check our latest statistics.
Exclusive focus on Golden Visa programs in Portugal, Italy, and Greece. Our dedicated team ensures expert guidance tailored to these prime investment destinations.
Private consultations and personalized investment strategies. Each client receives dedicated support from our elite team throughout their investment journey.
Expert guidance on investment options across our three markets. From real estate to investment funds, we help you choose the optimal path for your goals.
Strong partnerships with premier legal and financial experts in Portugal, Italy, and Greece. Ensuring smooth processes and optimal outcomes in each jurisdiction.
.svg)
