Portugal is one of the leading destinations known for its warm Mediterranean climate with round-the-year access to beaches. The friendly nature of Portuguese people, developed economy, rich culture, and leisure lifestyle are some of the attractions for Portugal Golden Visa Investors. The program invites non-EU nationals to become residents of Portugal by investing in available portfolios. This blog is about the top 5 Portugal cities ideal for investors in terms of quality of life and ease of doing business.
Investment Requirement and Options for Portugal Golden Visa Investors
There is no doubt that real estate was the first choice for Golden Visa Investors before Portugal banned this stream. The reason was soaring real estate prices, resulting in skyrocketing property prices. To handle this, the government banned the real estate stream for Golden Visa, and thus, the focus shifted towards other options. This includes:
- Fund Subscription worth €500,000 or more in a venture capital fund or a private equity
- Company Formation that creates a minimum of 10 new jobs or invests €500,000 in a functional business with the addition of 5 new jobs
- Donations starting from €250,000
Top Countries Attracting Golden Visa Investors
As per Statista, from October 2012 to September 2023, Chinese people were on top with 5407 people getting Portugal Golden Visas, while 1256 Brazilian and 781 US citizens got Portuguese Golden Visas by investment. Other three famous countries include Turkey with 613, South Africa 574 and Russia with 431 approved Golden Visas.
What are the Top 5 Portugal Cities for Golden Visa Investors?
Choosing the right investment stream is no doubt one of the concerns for Golden Visa Investors. The law regarding staying in Portugal for golden visa holders requires 7 days of living a year. Within 5 years, you will become eligible to get Portugal citizenship. The biggest concern for Golden Visa investors is to find the best cities to live in 2024.
Our guide focuses on 6 parameters that cover the cost of living in different Portuguese cities. These parameters include the rental cost of a 1-bed apartment in the city centre, a 3-course meal for a couple at a mid-range Portuguese eatery, a monthly travel pass for public transport, cost of 1 litre of gasoline, education expense for 1 child, and fee for fitness club.
Lisbon – The Capital and Economic Hub of Portugal
Lisbon is located along the Atlantic coast and on the northern shore of the famous river Tagus. Lisbon is a top choice for people due to various reasons including being the economic hub of Portugal, and connectivity to the entire Portugal and Europe via air, road and sea. The Portuguese capital is not only a famous spot among visitors but also offers a diverse range of investment opportunities.
Cost of Living in Lisbon
| Expense Nature | Cost in Euro |
| Rent of 1 bedroom in City Centre | €1170 |
| 3-time meal cost for a couple at mid-range restaurant | €50 |
| Monthly Public Transport Pass | €40 |
| Gasoline 1 litre | €2 |
| Monthly fee of a full day private preschool | €420 |
| Fitness Club monthly fee for 1 adult | €38 |
Porto – Second Largest City in Portugal
Porto is the second largest city in Portugal and is also ranked as Gamma +. Gamma level rating indicates cities that highlight economic regions of small scale into the world economy. The economic diversity of Porto attracts investors from all walks of life. According to the World Travel Awards, the city has won following awards including:
- Europe’s Leading Seaside Metropolitan Destination 2024
- Europe’s Leading City Break Destination 2023
- World’s Leading City Destination 2022
- Europe’s Leading City Destination 2022
- Europe’s Leading City Break Destination 2020
Cost of Living in Porto
| Expense Nature | Cost in Euro |
| Rent of 1 bedroom in City Centre | €750 |
| 3-time meal cost for a couple at mid-range restaurant | €40 |
| Monthly Public Transport Pass | €40 |
| Gasoline 1 litre | €1.98 |
| Monthly fee of a full day private preschool | €350 |
| Fitness Club monthly fee for 1 adult | €38 |
Braga – The World’s Leading Emerging Tourism Destination
Braga has won the world’s leading emerging tourism destination award for the year 2024. The city is known for its historical monuments including the oldest Sacro-Montes in Europe. You can find the oldest Cathedral and historical buildings known for their intrinsic and serene beauty that are benchmark for visitors. Further, tech and infrastructure are two growing sectors where investors can get good returns on investment.
Cost of Living in Braga
| Expense Nature | Cost in Euro |
| Rent of 1 bedroom in City Centre | €560 |
| 3-time meal cost for a couple at mid-range restaurant | €30 |
| Monthly Public Transport Pass | €26 |
| Gasoline 1 litre | €2.03 |
| Monthly fee of a full day private preschool | 260 |
| Fitness Club monthly fee for 1 adult | €36 |
Santarem – A Place for Investors to Live and Enjoy Culture
Santarem is known for its sports and leisure activities and cathedrals while the city hosts the National Agriculture Fair. The street food, natural furniture, and handcrafted armchairs, and stools by skilled artists also draw crowd’s attention. Further, Santarem city has courts for sports activities including padel sports which is creating a new hype in the city.
Cost of Living in Santarem
| Expense Nature | Cost in Euro |
| Rent of 1 bedroom in City Centre | €612 |
| 3-time meal cost for a couple at mid-range restaurant | €45 |
| Monthly Public Transport Pass | €40 |
| Gasoline 1 litre | €2.03 |
| Monthly fee of a full day private preschool | €190 |
| Fitness Club monthly fee for 1 adult | €36 |
Faro – The Tourist Haven for Golfers and Sea Surfers
Faro, the seaport city is known for its architecture, nature, and culture. The Faro City Festival is an attraction for music lovers, while the golden sand beaches and surfers are paradise. Beach life is an attractive option for investors where they can earn ROI on investment and live a vibrant life as well.
Cost of Living in Faro
| Expense Nature | Cost in Euro |
| Rent of 1 bedroom in City Centre | €750 |
| 3-time meal cost for a couple at mid-range restaurant | €40 |
| Monthly Public Transport Pass | €40 |
| Gasoline 1 litre | €2.03 |
| Monthly fee of a full day private preschool | €575 |
| Fitness Club monthly fee for 1 adult | €31 |
Conclusion
The above-mentioned cities are based on some facts that may vary from person to person. As a Golden Visa holder, you can search for a specific city that is more aligned with your needs. Apart from covering the economic aspect, we’ve covered the social impact of living in the mentioned city and why it is a famous choice among investors.