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Updated: June 2026

Case study · Portugal · Residence permit

How we obtained Portugal's Golden Visa through investment in scientific research

Many still believe that Portugal's Golden Visa is about purchasing real estate. After the reform, this is no longer the case: the residential property route has been closed. However, other grounds remain available, and one of them was perfectly suited to our client - investment in research and development activities. We explain how we obtained Portuguese residence permit through this route, without real estate.

Sergey EvdokimovSergey EvdokimovManaging Partner, BRIDGESReading time9 min readVerificationReviewed by an expert

This case is based on a real matter. The name and certain identifying details have been changed to protect confidentiality.

BRIDGES client story - How we obtained Portugal's Golden Visa through investment in scientific research
Contents

Case at a glance

Situation, solution and outcome in seven lines

Client
Aliya, about 36, an investor from Almaty
Objective
Portugal's Golden Visa (pathway to EU passport)
Program
Portugal, Golden Visa (residence permit via investment, pathway to EU passport)
Context
Real estate purchase as the basis for Golden Visa has been eliminated by reform
Solution
Investment in research and development activities
Logic
Capital is directed to science rather than housing, and provides the same residence permit rights
Outcome
Golden Visa obtained through the scientific research route

Client story

Client's story

Where they started

The client arrived with an outdated understanding, and he was not alone in this: he believed that Portugal's Golden Visa was obtained through real estate purchase. After the program reform, this ground was closed - it is no longer possible to purchase an apartment and receive a residence permit for it. However, the program itself did not disappear: alternative investment routes not connected to housing remain available.

Why the standard route did not work

The client was suited to the research and development route. The essence is that capital is invested in supporting scientific research (through recognized programs/structures) rather than in real estate - and this provides the same Golden Visa rights. For the client, this route was even more appealing philosophically: money goes into meaningful activities rather than being frozen in square meters.

What BRIDGES had to solve

It was important to formalize everything correctly: select an appropriate research sector investment that meets program requirements, confirm the source of funds, and conduct the investment in such a way that it counts as grounds for a residence permit. An error in choosing the investment vehicle would mean the investment would not confer the status.

Why a standard answer would not do

At BRIDGES, we guided the client through the scientific research route: we identified an investment in research and development activities that meets program requirements, verified the source of funds, and obtained the Golden Visa - without the real estate that he mistakenly believed was mandatory. The capital went into science, and the client obtained a pathway to an EU passport.

I thought the Portuguese Golden Visa meant an apartment. Andrés explained that after the reform there is a research route and checked the project and exit terms. I have residence, and the money works for science.

Aliya · investorThe name and certain identifying details have been changed to protect confidentiality.

What was at risk

What was at risk

There was no disaster - there was a risk of acting according to an outdated scheme. Believing that real estate was necessary, the client could have pursued a closed option and concluded that the program was inaccessible. The danger also lay in selecting the wrong investment vehicle: investing in the wrong structure and failing to obtain the status. The key was to transition to the active route - investment in scientific research - and to formalize it correctly.

That real estate purchase as the basis for Portugal's Golden Visa has been eliminated by reform;

  1. 01That the program continues to operate through other investment routes;
  2. 02That one of them is investment in research and development activities;
  3. 03That the investment must meet program requirements, otherwise it will not confer the status;
  4. 04That the source of funds must be confirmed through documentation.

The logic of the solution

How the matter progressed: from checks to result

The chart is built from the facts of this matter and shows the logic of the work without decorative or unverified data.

  1. 01
    Stage 1

    Eliminated outdated assumptions. We first explained to the client that real estate purchase as a qualifying basis for Portugal's Golden Visa has been abolished, but the program remains viable through alternative routes—this immediately reframed the task as solvable.

  2. 02
    Stage 2

    Selected the research route. Among available qualifying bases, we proposed investment in research and development activities—an option where capital goes to science rather than real estate.

  3. 03
    Stage 3

    Matched investment to requirements. We identified a specific research sector investment that meets program requirements, ensuring it qualifies as a basis for obtaining a residence permit.

  4. 04
    Stage 4

    Substantiated source of funds. We prepared documentary evidence of the lawful source of capital—a mandatory program requirement.

  5. 05
    Stage 5

    Executed the investment and obtained the residence permit. We implemented the investment through the selected route and obtained Portugal's Golden Visa on this basis.

Takeaway. Conclusion: real estate purchase as a qualifying basis for Portugal's Golden Visa has been abolished, but the program operates through alternative routes—including research and development investment, which provides the same residence permit entitlement.

How we solved the problem

How we solved the problem

The work was split into verifiable stages so that every conclusion rested on documents.

  1. 01

    Eliminated outdated assumptions

    We first explained to the client that real estate purchase as a qualifying basis for Portugal's Golden Visa has been abolished, but the program remains viable through alternative routes—this immediately reframed the task as solvable.

  2. 02

    Selected the research route

    Among available qualifying bases, we proposed investment in research and development activities—an option where capital goes to science rather than real estate.

  3. 03

    Matched investment to requirements

    We identified a specific research sector investment that meets program requirements, ensuring it qualifies as a basis for obtaining a residence permit.

  4. 04

    Substantiated source of funds

    We prepared documentary evidence of the lawful source of capital—a mandatory program requirement.

  5. 05

    Executed the investment and obtained the residence permit

    We implemented the investment through the selected route and obtained Portugal's Golden Visa on this basis.

  6. 06

    Preserved the pathway to citizenship

    The client obtained a residence permit through science investment, without real estate, while maintaining the primary objective—access to EU citizenship, which is why Portugal was chosen.

How the work went

From first contact to the result

  1. 01Eliminated outdated assumptions
  2. 02Selected the research route
  3. 03Matched investment to requirements
  4. 04Substantiated source of funds
  5. 05Executed the investment and obtained the residence permit
  6. 06Preserved the pathway to citizenship

The sequence and timing reflect this specific case and depend on how complete the documents are and on the decisions of the competent authorities.

Expert comment

The most common misconception about Portugal currently is that Golden Visa necessarily means purchasing an apartment. Following the reform, real estate as a qualifying basis was closed, and many conclude the program is unavailable. However, it remains operational—simply through alternative routes. This client was well-suited to the research and development pathway: capital supports scientific research rather than real estate, and provides the same residence permit entitlement. In my view, this is a more meaningful investment approach than freezing funds in real estate. The key here is selecting the right instrument: the investment must meet program requirements, otherwise it will not confer immigration status. Additionally, we always substantiate the source of funds. We identified a compliant investment, obtained the Golden Visa, and the client continues on the path to EU citizenship—through science rather than square meters.

Sergey Evdokimov, Managing Partner, BRIDGESSergey EvdokimovManaging Partner, BRIDGES

Outcome

What the client received

Requirements
How we delivered · Outcome
Residence permit without real estate
Research route · Capital directed to science, not real estate
Valid qualifying basis
Investment meeting requirements · Credited toward Golden Visa
Clean source verification
Funds substantiation · Requirement fulfilled
Pathway to citizenship
Residence permit issuance · Access to EU citizenship preserved
Pathway to citizenship
Residence permit issuance · Access to EU citizenship preserved

What was: the client wanted Portugal's Golden Visa, believing real estate was required—but this basis was eliminated by reform. What we did: eliminated outdated assumptions; selected the research route; matched investment to program requirements; substantiated source of funds; executed the investment and obtained the residence permit. What the client received: Portugal's Golden Visa through research and development investment and a preserved pathway to EU citizenship.

Practical takeaway

What matters in a similar situation

  • Conclusion: real estate purchase as a qualifying basis for Portugal's Golden Visa has been abolished, but the program operates through alternative routes—including research and development investment, which provides the same residence permit entitlement.
  • The client obtained a residence permit and pathway to EU citizenship without real estate—because we redirected him to the active research route and structured the investment correctly.
  • Investing in research activity is a separate, less well-known route to the status. We will look at whether it suits you.

FAQ

Questions people ask in a similar situation

01Can one obtain Portugal's Golden Visa without real estate?

Yes. Real estate purchase as a qualifying basis has been eliminated by reform, but the program operates through alternative investment routes—including research and development investment.

02How does the research and development route work?

Capital is invested in supporting scientific research through program-compliant structures rather than real estate. Such investment provides Golden Visa entitlement and a pathway to EU citizenship.

03Is it true that real estate is no longer eligible?

Yes, following the reform, purchasing residential property as a basis for Portugal's Golden Visa has been closed. You cannot buy an apartment and obtain a residence permit based on it—you must select alternative active pathways.

04What is important when choosing an investment?

The investment must meet the program requirements; otherwise, it will not qualify as a basis for a residence permit. You must also confirm the lawful origin of funds.

05Does this pathway lead to citizenship?

Yes, like other active Golden Visa pathways, it preserves the route to naturalization (after the required period of residence and language proficiency). Verify current parameters with the competent authority.

06Which documents were key in this case?

Eliminated outdated assumptions. We first explained to the client that real estate purchase as a qualifying basis for Portugal's Golden Visa has been abolished, but the program remains viable through alternative routes—this immediately reframed the task as solvable. Selected the research route. Among available qualifying bases, we proposed investment in research and development activities—an option where capital goes to science rather than real estate.

07Why did the standard route not suit the client?

The client was suited to the research and development route. The essence is that capital is invested in supporting scientific research (through recognized programs/structures) rather than in real estate - and this provides the same Golden Visa rights. For the client, this route was even more appealing philosophically: money goes into meaningful activities rather than being frozen in square meters.

08What risk had to be closed before filing?

There was no disaster - there was a risk of acting according to an outdated scheme. Believing that real estate was necessary, the client could have pursued a closed option and concluded that the program was inaccessible. The danger also lay in selecting the wrong investment vehicle: investing in the wrong structure and failing to obtain the status. The key was to transition to the active route - investment in scientific research - and to formalize it correctly. That real estate purchase as the basis for Portugal's Golden Visa has been eliminated by reform;

09How did BRIDGES check that the chosen solution would hold?

Executed the investment and obtained the residence permit. We implemented the investment through the selected route and obtained Portugal's Golden Visa on this basis. Preserved the pathway to citizenship. The client obtained a residence permit through science investment, without real estate, while maintaining the primary objective—access to EU citizenship, which is why Portugal was chosen.

About the author

Sergey Evdokimov

Author: Sergey Evdokimov

Managing Partner, BRIDGES

As Founder and Managing Partner of BRIDGES, I am responsible for the firm's strategy and personally lead its most complex client matters, including cases in which citizenship or residence decisions require a strategic view and consideration of capital.

I begin by defining the objective: the outcome the client needs, the facts that affect the choice, and the matters that require further review. I then establish the available directions, the sequence of work, and the key decision points.

Once the strategy has been agreed, I oversee the BRIDGES team's key decisions and remain involved at the stages that shape the course of the matter. The purpose is to give the client a clear rationale for the chosen direction and a precise understanding of the next steps.

Prepared on the basis of BRIDGES practice and reviewed by a subject-matter expert.

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Anna KovalevskayaHead of Legal, BRIDGES
Anna Kovalevskaya, Head of Legal, BRIDGES

Names and certain details have been changed to protect client confidentiality. The result described reflects one specific situation and is neither a public offer nor a guarantee of a similar outcome. Programme terms are stated as of 2026 and may change - please confirm current parameters with a BRIDGES consultant.