Portugal Tops 2025: Golden Visa (Fund Route) & D7 — The Long-Form, Data-Backed Guide

The 2025 Global Retirement Report ranks Portugal #1 worldwide for retirees. Measured across quality of life, safety, healthcare, environmental standards and tax efficiency, Portugal stands out for people seeking a peaceful lifestyle with world-class public services and clear residency options. This article explains the two most popular pathways — the Golden Visa via CMVM-regulated fundsand the D7 passive-income visa — alongside costs, timelines, documents, taxes, healthcare, regional picks, and risks.

Global Retirement Index 2025 — Top 22 Countries

Source: Global Retirement Report 2025 (Global Citizen Solutions), summarized by Euronews Business. Chart rendered in code (Recharts).

Global Retirement Index 2025 — Remaining Countries

Source: Global Retirement Report 2025 (Global Citizen Solutions), summarized by Euronews Business. Chart rendered in code (Recharts).

Portugal Residency Routes in 2025

Golden Visa (Fund Route)

Investment-led: qualifying CMVM-regulated funds (no direct real estate route).
Typical minimum: €500,000 (verify fund rules, fees and risk profile).
Light physical presence (often ~7 days/year on average).
Family inclusion: spouse/partner, dependent children, sometimes dependent parents.
Permanent residency & citizenship after 5 years of legal residence (subject to law & language requirements).

D7 Passive-Income Visa

Designed for retirees and financially independent applicants with predictable passive income.
Requires residence in Portugal and evidence of sufficient means.
Includes family, access to the national health system (SNS) and education.
Pathway to permanent residence and citizenship after 5 years (subject to requirements).

Eligibility & Documents

Typical Eligibility

Clean criminal record (applicable jurisdictions).
Proof of funds and legal source of capital.
Valid health insurance for Portugal.
Passport validity consistent with stay.

Core Document Checklist

Passports; birth/marriage certificates; apostilles as required.
Police clearance(s) from country(ies) of residence.
Bank statements and income proofs; KYC/Source-of-Funds evidence.
Fund subscription agreement (Golden Visa) or passive-income proofs (D7).
Proof of accommodation in Portugal (rental or ownership).

High-Level Timeline (Illustrative)

Timeframes depend on document readiness and authorities’ capacity. The visual below shows a typical journey from decision to card issuance.

Decision & KYC: strategy, advisor engagement, fund due diligence.
Banking & NIF: Portuguese tax number + account (often remote with POA).
Subscription & Filing: subscribe the fund; compile & file the application.
Biometrics: in-person capture when called.
Residence Card: initial card; renewals; count to 5 years.
PR/Citizenship: eligibility after 5 years (law & language apply).

Taxes (High-Level)

Plan globally: worldwide income vs. Portuguese-source income.
Check double-tax treaties; coordinate with your home-country CPA.
Rules can change — confirm current law before committing.

Healthcare

Strong public system (SNS) and robust private networks in Lisbon, Porto, Algarve.
Private coverage recommended early on; English widely spoken in major facilities.

Where to Live

Lisbon: international hubs, schools, healthcare, culture.
Porto: lower costs, excellent quality of life, gastronomy.
Algarve: sunshine, resorts, expat communities.
Islands (Madeira/Azores): nature-first, relaxed rhythm.

Risks & Mitigation

Regulatory risk: policies may evolve. Mitigate: work with updated counsel; choose compliant funds with robust governance.
Market risk: fund asset volatility. Mitigate: diversify; monitor strategy, audits, and risk controls.
Documentation delays: missing/incomplete files. Mitigate: rigorous checklist & pre-submission review.
FX risk: home currency vs. EUR. Mitigate: staged conversions/hedging as appropriate.

Quick FAQs

Is the Golden Visa still available?

Yes — via regulated funds. Direct real estate purchases are not an eligible route.

What’s the minimum investment?

Often €500,000 for fund options; confirm with the fund and your legal advisor.

Do I need to live full-time in Portugal?

No. The physical presence requirement is limited (commonly ~7 days per year).

When can I apply for citizenship?

After five years of legal residency, subject to language and legal criteria in force.

Source

Euronews Business — “Looking to retire? The world’s best destination is in Europe” (11 Oct 2025). Read article. Based on the Global Retirement Report 2025 by Global Citizen Solutions.

Disclaimer: This article is for information only and does not constitute legal, tax, or investment advice. Always verify current rules and costs with licensed professionals before making decisions.

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It is recommended to consult Chapter V of Decree-Law nº 162/2014, of October 31st, published in the Official Gazette, as well as its revision by Law nº 2/2020, of March 31st. The information included here is of a general nature, and therefore each potential investor should seek independent advice (e.g., legal, financial, tax, etc.)