Golden Visa Compared With D7, D2 and HQA
Portugal offers several residence-by-visa routes alongside the Golden Visa. Each is built around a different qualifying basis, and choosing between them depends on how much time an applicant intends to spend in Portugal and what resources they can commit.
The Golden Visa (Autorização de Residência para Investimento, or ARI) is one of several residence permit routes available to non-EU/EEA nationals. The D7, D2 and highly qualified activity (HQA) visas sit under the general immigration regime in Lei 23/2007 as amended, rather than the investment-residence regime, and each has a different qualifying logic.
What each route is built around
| Route | Qualifying basis | Who it typically suits |
|---|---|---|
| Golden Visa (ARI) | A qualifying investment, such as subscription to an eligible investment fund, maintained for the required holding period. | Applicants who can commit capital but do not intend to relocate to Portugal full time. |
| D7 | Regular passive income (for example pensions, rental income or dividends) sufficient to support the applicant and any dependants, assessed by reference to the Portuguese minimum wage. | Retirees or others with a stable, verifiable income who intend to live in Portugal. |
| D2 | A genuine business or entrepreneurial project to be established or transferred to Portugal, supported by a viable business plan. | Entrepreneurs and self-employed professionals intending to operate a business from Portugal. |
| HQA (highly qualified activity) | An employment contract or promissory contract for a highly qualified role, or comparable qualifying professional activity. | Skilled employees or professionals with a confirmed role in Portugal. |
Residence expectations
The Golden Visa carries a comparatively light minimum-stay requirement under Lei 23/2007 as amended, which is what makes it attractive to applicants who do not plan to live in Portugal continuously. The D7, D2 and HQA routes are built around genuine residence in Portugal, and permit holders are generally expected to be based there, file Portuguese tax residency where applicable, and use the country as their main home.
Income thresholds are not fixed numbers
Where a route depends on a minimum income (as with the D7) or minimum remuneration (as with HQA), the applicable amount is set by reference to the Portuguese minimum wage, which is revised periodically. Any figure quoted for these thresholds should be treated as indicative only and confirmed against the current official rate before an application is prepared.
Trade-offs to weigh
- The Golden Visa requires committing capital to an eligible investment and maintaining it for the qualifying period, in exchange for a lighter physical presence requirement.
- The D7 requires no capital investment but does require demonstrable, ongoing passive income and closer ties to actual residence in Portugal.
- The D2 requires building and running a real business, with the associated commercial risk and administrative obligations.
- The HQA route depends on securing and maintaining a qualifying employment relationship, so it is tied to the applicant's employment status.
The property route and the €1,500,000 capital transfer route under the former Golden Visa regime no longer qualify following Lei 56/2023 and are not compared here as live options.