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What if you could secure a second residency along the stunning Mediterranean coastline, with the freedom to travel whenever needed—no restrictions, no stress? Imagine having a golden ticket to Europe, where you and your family can enjoy visa-free travel, tax-friendly benefits, and even the potential for dual citizenship down the line.
In this ultimate showdown, we’re comparing the two hottest residency-by-investment programs in Europe: Italy’s Investor Visa vs. Portugal’s Golden Visa. Which one offers the fastest path to residency? Which has lower investment thresholds? How long do you need to stay for renewal? Is one more crypto-friendly than the other? We’ll break down the key factors—investment requirements, tax regimes, eligibility, and renewal criteria—so you can make the smartest choice for your future.
This isn’t about lifestyle (we’ll leave that to the travel bloggers). This is about the straight facts of European residency, so you can make a well-informed decision. And here’s the good news—whether you choose Italy or Portugal, you win.
At INGWE, we've helped thousands from 55+ countries navigate business and investment immigration since 2018. Looking into European residency or citizenship? Our experts are here to guide you. Have questions? Contact us here: here.
Let’s get down to this head-to-head between Portugal's Golden Visa and Italy’s Investor Residency Program. What you need to know before making a decision for your ultimate Plan B.
What type of residency programs does Italy & Portugal offer for investors looking to have a residency in either of these countries?
Portugal offers the Golden Visa program to investors and their families, which means you invest in an approved investment category and in return receive residency for yourself and your family.
Italy offers the investor residency visa which although is not labeled a ‘Golden Visa’, has a similar structure in terms of offering various asset classes for investors who in return receive residency access to the country.
What eligibility criteria is expected of the investor applying to either Italy or Portugal for their residency?
There are no education, work experience or language requirements for either program to apply as an investor. You need a clean bill of health, police check report, a valid passport, and proof of funds for the investment, as well as being able to support yourself and your lifestyle in the country.
It’s quite basic as long as you have the funds available to make the investment.
What is the Minimum Investment Required for Residency in Portugal & Italy: How Much Do You Need?
Portugal Golden Visa requires a minimum investment of €500,000 as the lowest category investment to obtain the residency.
Italy’s investor residency program’s bare minimum investment is €250,000 as the lowest category investment option to obtain a residency for you and your family in the country.
We’ll cover the various other options below, so you can see the full picture.
At INGWE, we've helped thousands from 55+ countries navigate business and investment immigration since 2018. Looking into European residency or citizenship? Our experts are here to guide you. Have questions? Contact us here: here.
How Long Does the Application Process Take Until Residency for Portugal vs. Italy?
This is one of those comparison categories where you will feel a big difference between both countries. Portugal's Golden Visa has faced delays due to a backlog, but the recent government has this year announced a new initiative to fast-track the processing of the Golden Visa applicants.
Previously taking 18-20 months, the timeline is now expected to be reduced to approximately 1 year after completing the investment and obtaining the required investment certificate. Lawsuits that once sped up approvals are no longer necessary.
This 1-year processing period also counts toward Portugal's citizenship eligibility
On the other hand, the Italian investor residency program is fast. The fastest in the entire European region as an actual investor program leading to residency. It can be done in less than 3 months – depending on the passport you hold.
What are the various Investment category options to become eligible for the Portugal Golden Visa or the Italian Investor Residency Program?
Portugal has 4 investment categories eligible for the Golden Visa program.
Either of the above 4 options can make you eligible for the Portugal Golden Visa program. The main applicant invests in an eligible category and will obtain a residency for themselves and their dependent family members.
Italy also offers 4 investment categories eligible for the Italian investor residency program.
Note: Italy does not allow a combination of investment categories. The full investment must be in a single category.
At INGWE, we've helped thousands from 55+ countries navigate business and investment immigration since 2018. Looking into European residency or citizenship? Our experts are here to guide you. Have questions? Contact us here: here.
When should the investments be completed to become eligible for the residency programs?
Applicants must complete the investment before applying for the Portugal Golden Visa. This includes opening a Portuguese bank account and transferring funds. American investors can invest directly from U.S. bank accounts without opening a local Portuguese account.
Italy has a unique structure—you can apply for residency before investing. Once you receive security clearance, you get 90 days to enter Italy and finalize your investment. This flexibility allows investors to change their investment choice before committing.
How long should the investments be held for the Portugal Golden Visa & Italian investor residency programs?
Portugal Golden Visa
The investment must be held for at least 5 years while maintaining residency. Many Portuguese private equity funds have a 5-7 year lock-in period.
Italy Investor Residency Visa
Investments must be held until permanent residency is obtained. Since temporary residency lasts 5 years, the investment must remain active for this period. You can download our FAQ sheet on the Italian residency program for details on minimum stay requirements and language proficiency criteria here.
Is Real estate allowed as an eligible investment for the Portugal Golden Visa or the Italian investor residency program?
In Portugal it is strictly forbidden, either directly or indirectly as part of the eligibility for the Golden Visa investment. Of course, investors and their families are allowed to invest and own real estate in Portugal – but the real estate investment is separate from the Golden Visa instalment. You can buy Portuguese real estate even before you apply for any immigration status in Portugal – no restrictions on this aspect.
In Italy, the regulations are a little bit more relaxed. You can technically invest in an Italian company holding real estate or an Italian startup venture holding real estate as an asset. The regulations are not as strict as in Portugal, although the general framework and structure of the investment still needs to follow the regulations.
Are there favorable Tax regimes for foreign derived income as residents of Portugal or Italy?
Italy has a fixed annual tax regime of €200,000 for higher earning investors, and a favorable flat tax rate for overseas pension income investors who reside in cities/towns of less than 20,000 in Italy. There is a list of approved communities by the Italian Revenue Agency. Please keep in mind that it is not mandatory to become a tax resident of Italy in the first 5 years as a temporary resident.
At INGWE, we've helped thousands from 55+ countries navigate business and investment immigration since 2018. Looking into European residency or citizenship? Our experts are here to guide you. Have questions? Contact us here: here.
In Portugal, you have the new revised Non-Habitual Residency 2.0 tax regime. It has specific criteria and tax categories for various income types, occupations, and also based on whether you reside in mainland Portugal or one of the islands. Visit our previously posted video here about the NHR 2.0:
How Crypto-Friendly are these countries for taxation purposes?
Portugal is very tax friendly for crypto investors. Previously there was no capital gain tax on crypto profits. However, the new NHR 2.0 regulations state that you need to hold the crypto assets for a minimum of 1 year before being eligible for the capital gain exemption. This is still very favorable for many investors.
In Italy, the government taxes profits made from cryptocurrency transactions at either 26% or 18%, depending on the individual's specific tax situation. However, these taxes only apply when cryptocurrencies are converted into traditional money (such as Euros or US Dollars) or into NFTs (Non-Fungible Tokens).
What is the Citizenship Eligibility Timeline?
It takes 5 years to become eligible for the Portugal citizenship and passport, and the processing timeline for the Golden Visa is also counted as part of the 5 year eligibility.
In Italy, the citizenship eligibility time takes 10 years which is much longer if anyone intends to become a citizen of Italy.
Can family members work and study inside the country under the Portugal Golden Visa and Italian Investor Residency Program?
Both Portugal and Italy allow dependents to work and study under their respective residency programs. Family members receive residence permits, granting them the same rights as the primary investor.
In conclusion, the Italian program is more lengthy and complicated to convert to PR or citizenship compared to the Portuguese program, but is faster to apply and obtain your initial residency at the beginning of the process. For anyone looking for a quick investor residency program to enter Europe, and is not worried about becoming a PR or citizen, then the Italian program would be the right fit. The Portuguese program is a good ‘hands-off’ flexible program without many requirements during the first 5 years of the residency before becoming eligible to either renew or apply for citizenship. Both programs are some of the best and most sought after investor residency programs offered in Europe – as a ‘Plan B’ or even ‘Plan A’ for many investors, entrepreneurs and families.
Don’t forget to download our Italian Investor Residency Visa FAQ sheet for free from this article being posted on our website.
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