Portugal Golden Visa is proving to be very beneficial

A new independent report has shed some light on the profound impact of Portugal’s Golden Visa program, and the numbers tell a much bigger story than just money changing hands. It turns out that for every euro of foreign direct investment, the Portuguese economy actually receives six more in broad terms. This means that the €9 billion that has flown in since 2012 isn’t just sitting there; This amounted to a total of 54 billion euros in economic aid.

This study, conducted by the World Digital Foundation together with Portugal Way and Portugal Investment Owners Club, makes one thing very clear. It is not the only recovery tool left over from the financial crisis. It has become a structural engine for jobs, innovation, and tax revenue, with the country growing faster than the EU average.

Key findings at a glance:

• Since the launch of Portugal’s Golden Visa program in 2012, more than €9 billion has been invested directly.
• A major economic impact of €54 billion.
• Between 25,000 and 30,000 jobs were supported over the lifetime of the program.
• Each EUR 500,000 investment helps create approximately 2 to 4 direct and a few indirect jobs.
• About 20% of people with these visas end up bringing in more capital or later start new businesses.

It is worth noting that both the IMF and the European Commission expect Portugal to continue to outperform the EU average in terms of GDP growth. Analysts say that a large part of this flexibility comes from solid private investment confidence, and much of it is channeled through the Golden Visa framework.

An important moment for the program

This report comes at an interesting time. In October 2025, the Portuguese Parliament initially doubled the waiting period for citizenship from five years to ten. But in a move that surprised many, the Socialist Party took the amendment to the Constitutional Court. This effectively froze the change, meaning the original five-year path to citizenship is still protected for now.

While the court addresses this, the Portuguese Golden Visa itself remains unchanged. It still requires an investment of at least €500,000 in government-approved funds. The route is still open to non-EU/EEA/Swiss nationals with a clean record, and it still offers valuable visa-free access to the 29-country Schengen area.

Beyond Title Investments

Paul Stannard, who founded Portugal Way, emphasizes that the value of the program goes beyond the headlines. He points out that while the visa was introduced to attract money and talent, its real success over the past decade has been ecosystem building. It has become a reliable framework for mobile professionals and a proven investment generator in manufacturing sectors.

The report supports this, indicating that almost one in five residents go on to create or expand a business in Portugal. This extends to everything from innovation to VAT receipts and social security contributions.

“South of Switzerland” – popularity on the line

Observers are even beginning to call the country the “Switzerland of the South” because it has become such a stable, rich center of life for families and investors. But the report offers a fair warning: maintaining its reputation requires persistence. Sudden changes to established programs are the fastest way to scare away investor confidence.

As one expert in the study puts it, trust quickly erodes when governments fail to uphold their principles or change course on established programs. Portugal’s ability to provide predictable, long-term frameworks is fundamental to its success.

looking ahead

With the Constitutional Court review still ongoing and investor interest remaining strong, it looks like Portugal’s Golden Visa will play a central role in Portugal’s growth story. The data makes it clear that this is not the only way to move around the capital. It is a proven catalyst for a real economy. It stimulates job creation, creates business activity, and creates sustainable economic value. We are talking about benefits that go far beyond the initial investment of €500,000.

For moving families and entrepreneurs looking for a reliable European base, the numbers speak for themselves. The Portuguese Golden Visa offers real benefits not only for investors, but for the Portuguese economy.