Why Portugal Remains a Top Choice for Global Investors

With the "Mais Habitação" reform that took effect in October 2023, Portugal removed residential property from its Golden Visa. Many investors asked whether the Portuguese opportunity was over. In fact, with its safety, mild climate, strong rental market and flexible visa options, Portugal remains one of Europe's most attractive countries to live and invest in.

The Golden Visa has not ended — it has changed

The Golden Visa continues, with these investment routes now at the forefront instead of real estate:

• A €500,000 investment in a qualifying Portuguese fund,
• Contributions to research and development,
• Contributions to cultural heritage and arts projects,
• Creating jobs by setting up a company in Portugal.

Golden Visa holders only need to spend an average of 7 days a year in Portugal. The permit is first issued for 2 years and then renewed for 3-year periods.

D7: living in Portugal on passive income

The D7 visa is designed for people with regular passive income such as pensions, rental income, dividends or interest. The income requirement is set at the level of the Portuguese minimum wage, with additional amounts for a spouse and children. Applicants must show an address in Portugal, which can be a purchased or long-term rented home — making the D7 one of the most natural routes for families who want to buy a property in Portugal.

D7 holders are expected to live in Portugal and must spend a significant part of the year there to keep the permit.

D8: the digital nomad visa for remote workers

People working remotely for employers or clients abroad can move to Portugal with the D8 visa. Monthly income is expected to be around four times the Portuguese minimum wage. It is a strong option for Turkish professionals working remotely in fields such as software, design and consulting.

Taxes and costs

• IMT (transfer tax): progressive, between 0 and 7.5% depending on value and use.
• Stamp duty: 0.8% of the price.
• IMI (annual property tax): usually 0.3–0.45% for urban properties depending on the municipality.
• Notary, registry and legal fees: around 1.5–2% in total.

The former NHR (Non-Habitual Resident) tax regime ended in 2024 and was replaced by a new incentive regime targeting certain qualified professions. We strongly recommend planning your taxes with a qualified accountant.

Rental yields and capital growth

Long-term lets in Lisbon, Porto and the Algarve can yield around 4–6% gross. Short-term letting may yield more in tourist areas, but short-term rental licences (AL) are restricted in some areas — always check the licence status before buying.

Popular areas

• Lisbon and Cascais: job opportunities, international schools and strong rental demand.
• Porto: more accessible prices than Lisbon and rising values.
• Algarve: year-round sunshine, golf and coastal living — ideal for retirees.
• Madeira and the Silver Coast: a calmer lifestyle and more affordable options.

Conclusion

Although buying a home no longer grants a Golden Visa directly, owning property in Portugal combined with a D7 or D8 visa remains a strong life and investment plan. Request a free eligibility assessment to find the right visa and area for you.

This article is for general information only; amounts and requirements may change. Please confirm current rules with our advisors.