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Author: Leonardo Marques dos Santos, Partner at Miranda Law Firm , Pedro Borges Rodrigues, Principal Associate at Miranda Law Firm

Due to its economic and legal stability, attractive tax framework, safety, low cost of living, and simple residency pathways, Portugal has been attracting many foreign individuals and investors, particularly over the last few years. The fact that Portugal is considered one of the world’s most globalized and peaceful nations has also contributed to this attractiveness, with a high quality of life and a very high ranking in human development indices. Portugal is among the oldest nations in Europe, with a rich history, lively culture, exceptional cuisine, stunning beaches, and idyllic countryside.

Among several routes to obtain Portuguese residency, the ‘Golden Visa’ is definitely one of the most straightforward. Golden Visa holders gain the right to multiple benefits such as access to Portuguese education and health care systems; family reunion; working in Portuguese territory; freedom of movement within the Schengen area; and access to a Portuguese passport after a 5-year period.

Moreover, Golden Visa holders will only have to stay in Portugal 7 days per year in the first year, and 14 days in the subsequent renewal periods. Though it is a shame not to stay for longer… only these minimal stay periods are required.

The Golden Visa requirements may be met by people with different investment profiles, the most common choice being a €500.000 investment in the acquisition of shares of non-real estate investment schemes incorporated under Portuguese law (whose maturity, at the time of investment, is of at least 5 years and at least 60% of the investment value is made through companies with their head office in Portugal).

In addition to the Golden Visa regime, Portugal offers other residency alternatives for people who intend to prolong their stay in Portugal (such as the D1, D2, D3, D7, and D8 visas), and, notably, enter into an employment or contractor agreement, qualify as an entrepreneur immigrant, carry out qualified activities, live on passive income, work remotely from Portugal for a foreign entity or simply retire in Portugal. 

Many of these visa solutions come with an attractive tax package attached. In fact, Portugal has a new and improved version of the NHR (hereinafter “NHR 2.0”). The NHR 2.0 will, among other benefits, exempt entrepreneurial and employment income derived by individuals (including directors’ fees), investment income (such as interest or dividends), rental income, and capital gains from tax, provided such income is earned outside of Portugal. Moreover, entrepreneurial and employment income earned in Portugal will still be eligible for a 20% flat tax rate. The NHR 2.0 has a broader scope of application than its former version. For instance, it will include certain types of income, such as capital gains derived from the sale of securities, which were not exempted in the previous regime. Despite the changes to the eligibility requirements, which may entail, among other things, that the beneficiary carries out an activity that is deemed to be highly qualified, the NHR 2.0 will still apply for a 10-year period and currently presents itself as a viable option for many people looking to relocate to Portugal.

Miranda & Associados is a full-service law firm, headquartered in Lisbon, Portugal and with another office in Porto, Portugal. With over 35 years of experience assisting clients, we combine the highest international standards with local expertise and have gained recognition as the most internationally oriented Portuguese law firm. We are a founding member of the Miranda Alliance, a long-established international alliance of law firms and lawyers that are united by a common business strategy and shared values, which enables us to collectively offer legal services addressing the international and local needs of our clients on a truly coordinated basis. For more information, please visit

Leonardo Marques dos Santos
[email protected] 
Partner at Miranda Law Firm

Pedro Borges Rodrigues
[email protected]
Principal Associate at Miranda Law Firm


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