The 54 billion reasons Portugal’s Golden Visa has paid off

Portugal’s popular Golden Visa residency-by-investment programme has generated a staggering €54 billion for its economy, a new report reveals.

Since its launch in 2012, the Golden Visa has attracted more than €9 billion in direct investment. Yet a report says that for every euro invested, it generates an additional €6 in wider economic value.

As a consequence, the programme has also supported up to 30,000 jobs in Portugal.

The findings are based on a report by the World Digital Foundation (WDF), in collaboration with Portugal Pathways and the Portugal Investment Owners Club.

Explains Danielle Moxey from the World Digital Foundation: “Up to 20% of Golden Visa investors go on to bring additional capital, business ventures, and job-creating enterprises, amplifying Portugal’s productivity base, innovation capacity, and fiscal revenues through VAT, income tax, and social contributions. 

“This multiplier effect also supports Portugal’s position as one of the EU’s stronger post-pandemic economies - the IMF and European Commission both forecast Portugal to outperform average EU GDP growth rates - driven in part by sustained private investment confidence and consistent Golden Visa inflows.

“Portugal’s programme has therefore become a catalyst for long-term economic value creation, not merely a capital inflow mechanism.”

To download a copy of the World Digital Foundation report on Portugal’s Golden Visa programme, click here.

The revelations come at a key time in the programme’s history.

In October, Portugal’s parliament voted to extend the Golden Visa’s long-established timeline to achieving citizenship from five years to 10. That decision is currently awaiting approval or referral to the Constitutional Court by its president.

The scheme continues to be hugely popular. It requires a €500,000 payment into regulated alternative investment funds approved for the Golden Visa. Open to non-EU/EEA/Swiss citizens with a clean criminal record, it opens the door to many seeking access to the 29 European countries in the Schengen area. 

Those taking advantage of its benefits, have to maintain the level of investment in order to secure a Portugal passport and requires a minimum stay of just seven days a year.

With Portugal’s more affordable cost-of-living, top quality healthcare, ever-growing number of international schools, cultural offering and 300-days of sunshine, it’s proved a golden ticket to many. In particular, entrepreneurs, investors and wealth creators, keen to pump money into a nation with enormous potential.

The WDF report analysed secondary data, investor patterns, and sector performance to shed light on how each euro invested in Golden Visas pays a handsome dividend for the country’s economy.

Adds Paul Stannard, founder and CEO of Portugal Pathways, which helps high-net-worth individuals navigate their Golden Visa journey: “The Golden Visa was introduced to stimulate foreign investment and attract globally mobile talent. 

“More than a decade later, its evolution shows that the programme’s real success lies in the ecosystem it has built: a globally trusted residency framework within the EU and Schengen zone, a magnet for internationally mobile professionals, and a generator of investment into productive sectors.

“The programme’s credibility has also enhanced Portugal’s global reputation as a ‘Switzerland South’ — a stable, transparent, and lifestyle-driven hub for high-net-worth individuals and family offices.

“Maintaining this trust is essential: around the world, investor confidence can quickly erode when governments fail to uphold their principles or reverse established programmes.

“We are hopeful that families who, through no fault of their own, have seen their applications delayed being processed, will be allowed to continue to support Portugal’s upward trajectory as part of the changes to the Nationality Law.”

Concludes Moxey for World Digital Foundation: “Each €500,000 investment deployed through Golden Visa routes supports between two and four direct jobs and up to two indirect jobs.  Across the programme’s lifetime, this equates to 25,000–30,000 jobs. 

“This combination of capital inflow, employment, and innovation contributes materially to Portugal’s above-EU-average GDP growth forecasts and bolsters its resilience against external economic shocks. It also demonstrates investor confidence in Portugal’s ability to provide policy continuity and predictable frameworks - critical components of sustainable growth.”

To download a copy of the World Digital Foundation report, click here.

Book your free discovery call with Portugal Pathways and speak directly with our Golden Visa professional experts here.

You can also explore 30+ Portugal Golden Visa-eligible investment funds through our Portugal Golden Visa Investment Fund Index here.

‍

About Portugal Pathways

‍‍Portugal Pathways has supported hundreds of Golden Visa residency-by-investment applications and provides expert guidance through its professional supply chain network on estate planning, wealth management, Golden Visa and tax optimisation, including post-NHR / IFICI tax regime planning, as well as private healthcare, money transfers and bespoke relocation and luxury real estate solutions to enhance life and investment in Portugal

‍

Disclaimer: The information on the Portugal Pathways and Portugal Investment Owners Club (P Club for short) websites and in email communications is for general informational purposes only and should not be construed as legal, tax, or financial advice. You should consult and check with a qualified professional advisor before relying on any information provided on this website or in email communications. As it relates to investments in Golden Visas or other wealth management solutions offered by regulated and professional advisors, it is important to note that past performance is no guarantee of future returns. Private equities can be highly illiquid and come with risk and should always be under professional independent advice. Golden Visa investments need to be held for 6 to 7 years to allow for permanent citizenship/passport in the EU.

‍