Portugal is quickly becoming a top destination for high-net-worth individuals and digital nomads. Its blend of excellent lifestyle options, favourable tax policies, and residency programs are drawing people from around the world. 

Albert Ioffe, Legal and Compliance Officer at Immigrant Invest, explores why more people are choosing Portugal and how digital nomad visas and Portugal residency by investment work.

Why People Move to Portugal

Portugal Digital Nomad Visa attracts many remote workers choosing Portugal, cities like Lisbon and Porto are emerging as hubs for digital nomads. The country's infrastructure is increasingly friendly to freelancers and remote workers, with reliable internet, co-working spaces, and an international community. 

Digital nomad meetups and events also provide ample networking opportunities, allowing newcomers to integrate easily.

Accessibility and Schengen Area benefits. Portugal's location in Europe and its membership in the Schengen Zone offer strategic advantages for travellers and business owners. Residency in Portugal provides the benefit of visa-free travel across 26 European countries, which is a significant draw for business people and travellers alike.

Stable economy and quality of life. Portugal offers a stable economy, along with a high quality of life. The country is known for its affordable healthcare system, mild climate, and safe environment. These factors make it an attractive destination for people seeking better living conditions. 

Coastal cities like Lisbon and Porto offer access to modern amenities, international schools, and rich cultural experiences, while smaller towns provide quieter, more relaxed lifestyles.

How to Get Residency in Portugal

Portugal Golden Visa. The Portugal Golden Visa is one of the most popular ways for non-EU citizens to gain residency. It allows individuals to invest in real estate or other approved sectors in exchange for residency. 

The investment threshold starts at €250,000 for supporting culture. The Portugal Golden Visa provides a pathway to permanent residency and citizenship after five years. Investment options also include venture capital funds, research contributions, or job creation projects in underdeveloped regions of Portugal.

Portuguese digital nomad residence permit. Portugal’s digital nomad visa is tailored for remote workers who want to stay long-term. This visa requires proof of income and remote employment, but it allows nomads to enjoy Portugal's lifestyle without investing in property. It's a flexible option for those who want to experience life in the country while working remotely. 

Applicants must show proof of a stable monthly income of at least €3,280, ensuring they can cover living expenses while in Portugal.

It is not possible to move to Portugal with permanent residency immediately. One must first live in the country with a temporary residence permit for 5 years before applying for permanent residency or citizenship.

Moving to Portugal with the Golden Visa

To get the Portugal Golden Visa, applicants must invest in culture, venture capital, or research projects. After making the investment, the next step is submitting the application and undergoing a background check. Once approved, you can live in Portugal, and after five years, you become eligible for permanent residency or citizenship.

The Golden Visa allows you to live, work, and study in Portugal. You also gain access to the Schengen Area, which enables visa-free travel across Europe. The requirement to stay in Portugal is only 7 days per year. 

For investors who are still managing businesses or have other commitments outside Portugal, this makes the visa especially convenient.

Moving to Portugal with a Digital Nomad Visa

The Portuguese digital nomad visa is open to remote workers who can prove a stable income. The application requires: 

1. Showing a contract of employment or freelance work outside Portugal.
2. Proof of sufficient funds to support yourself while living in the country.
   
   

This visa offers flexibility for digital nomads who want to move around without the commitment of property investments. It’s ideal for those who want to work remotely while exploring the country’s culture and lifestyle. Unlike the Golden Visa, which requires a substantial investment, the digital nomad visa is relatively quick and straightforward to obtain.

How to Get Permanent Residency and Citizenship in Portugal

Steps to permanent residency. After 5 years of holding a Golden Visa or digital nomad visa, you can apply for permanent residency. 

Permanent residents enjoy similar rights to Portuguese citizens, such as healthcare, education, and the ability to open businesses within the EU.

Path to citizenship. For those interested in full citizenship, it is possible to apply after 5 years of legal residence. The process involves meeting certain residency requirements, including language proficiency in Portuguese. 

Citizenship grants you a Portuguese passport, which allows you to live and work freely within the European Union and provides access to visa-free travel to over 170 countries. This makes Portuguese citizenship highly valuable for global mobility and international business opportunities.

Conclusion

Portugal offers a unique combination of quality of life and visa opportunities that appeal to high-net-worth individuals and digital nomads alike. Whether through the Golden Visa program or the digital nomad visa, moving to Portugal has never been more accessible. For those looking to gain residency or citizenship, Portugal’s options are among the most attractive in Europe.