Canonical: https://portugalhqacitizenship.com/portugal-hqa-visa-investment

# Portugal HQA Visa Investment: What €175,000 Actually Buys

A Portugal HQA visa investment is money paid to a private provider. Article 90 does not set a minimum investment payment. Some private providers sell packages that include company and research-project services; their price and scope are provider-specific. Providers report about €170,000 to €200,000, often €175,000, reported by providers, October 2026. No government body sets or checks them. This page explains what that money pays for, how it connects to your residence permit, what can go wrong, and what to ask before you sign.

Last verified: 19 October 2026

This page is general information, not legal, tax or investment advice.

## Key facts

1. **No legal minimum.** Articles 61 and 90 of Lei 23/2007 set no investment amount for highly qualified activity.
2. **The price is reported.** Packages are sold at about €170,000 to €200,000, most often quoted at €175,000, reported by providers, October 2026. No government body sets or checks them.
3. **The money is at risk.** In the packages we researched, the money funds a company and a research project. Whether any part is refundable, held in escrow or repayable depends on the provider's contract. Read the refund and return terms before you pay.
4. **Citizenship takes 10 years.** Most applicants need 10 years of legal residence under Lei Orgânica 1/2026. EU nationals and nationals of countries where Portuguese is an official language need 7.

Sources: Lei 23/2007, Lei Orgânica 1/2026, provider price lists.

## What the €175,000 pays for

Providers bundle several services into one price. The exact split differs, but most packages include:

| Part of the package | What it is |
| --- | --- |
| Portuguese company | A new company (usually a limited company, "Lda") set up in your name |
| Incubator place | A place in a certified Portuguese incubator |
| Research project | Research and development work with a Portuguese university or research center, often including paid local researchers |
| Legal and filing work | Company setup, visa file, residence permit file |

No government body sets or checks these prices. They are reported by providers, October 2026. Ask your provider for a line-by-line split in writing.

Family members usually cost extra. Providers quote about €2,500 to €5,000 for each dependent.

[See the full cost breakdown](https://portugalhqacitizenship.com/hqa-visa-cost)

## How the package connects to your residence permit

The investment does not buy a visa. It creates the conditions for one.

1. The package sets up a company with a research or innovation project.
2. You take a highly qualified role in that company or project.
3. You apply for a D3 residence visa at a Portuguese consulate (article 61 of Lei 23/2007).
4. In Portugal, AIMA, the immigration agency, issues a residence permit for highly qualified activity (article 90).
5. You renew the permit while you keep meeting the conditions.

### What we don't know yet

Providers do not always say which legal article your file uses. This matters. Families of article 90 permit holders are exempt from the 2-year family reunification wait introduced in October 2025. Article 89 families are not in that list, so the 2-year wait (or 15 months for a spouse who lived with the holder for at least 18 months before entry) applies unless one of the exceptions does. Ask your provider in writing which article your application uses, and have your own lawyer confirm it.

[Family rules for article 90](https://portugalhqacitizenship.com/hqa-visa-family)

[Requirements and who qualifies](https://portugalhqacitizenship.com/hqa-visa-requirements)

## The risks, stated plainly

**Your money funds a business.** If the company or the research fails, you can lose some or all of the investment. Nothing in Portuguese law guarantees a return.

**Refund and return terms.** Whether any part is refundable, held in escrow or repayable depends on the provider's contract. Read the refund and return terms before you pay.

**Renewal depends on the conditions still being met.** If the company stops operating, or loses a certification it needs, your next renewal may be at risk. The law does not spell out what happens in each case. Ask a Portuguese lawyer before you sign.

**Absence limits apply.** A temporary permit may be cancelled after more than 6 consecutive months, or 8 non-consecutive months, outside Portugal during the permit's total validity, unless the absence is justified. Some marketing says this route needs "no minimum stay". We have not found a legal basis that makes that true for everyone.

[Presence rules explained](https://portugalhqacitizenship.com/guides/hqa-visa-presence-requirements)

## Timeline from investment to citizenship

| Stage | Typical timing |
| --- | --- |
| Package contract and company setup | Months 0 to 2 |
| D3 visa at a Portuguese consulate | Months 2 to 4 |
| First residence permit (2 years) | Year 0 |
| Renewal (3 years) | Year 2 |
| Renewal and permanent residence option | Year 5 |
| Citizenship application | Year 10 (7 for EU nationals and nationals of countries where Portuguese is an official language) |

Months 0 to 4 are typical provider estimates, not legal deadlines. AIMA's legal deadline to decide a residence application is 90 days, extendable by 30.

[Citizenship under the 10-year rule](https://portugalhqacitizenship.com/guides/hqa-visa-citizenship-10-year-rule)

## Tax: IFICI is possible, not automatic

Portugal's IFICI regime taxes eligible Portuguese work income at 20% for 10 years and exempts most foreign income. A highly qualified activity permit does not give you IFICI on its own. You qualify only if your role and your employer fit one of the eligible categories, such as a certified startup or certified research and development work. You must register by 15 January of the year after you become tax resident.

[HQA visa and IFICI tax](https://portugalhqacitizenship.com/guides/hqa-visa-ifici-tax)

## HQA package or Golden Visa fund?

|   | HQA investment package | Golden Visa fund route |
| --- | --- | --- |
| Minimum set by law | None | €500,000 |
| Typical cost | About €175,000 | €500,000 plus fees |
| What the money buys | A company and a research project | Units in a qualifying investment fund |
| Time in Portugal | A temporary permit may be cancelled after more than 6 consecutive months, or 8 non-consecutive months, outside Portugal during the permit's total validity | 7 days in year 1, then 14 days |
| Citizenship | 10 years of legal residence | 10 years of legal residence |

The HQA package costs less but asks more of you: a temporary permit may be cancelled after more than 6 consecutive months, or 8 non-consecutive months, outside Portugal during the permit's total validity. The Golden Visa fund costs more but asks for very little time in the country.

[Full comparison](https://portugalhqacitizenship.com/portugal-hqa-vs-golden-visa)

## Red flags in HQA marketing

- Claims to act "under the authority" of the Portuguese government
- Promises of approval or of a fixed return
- "Citizenship in 5 years" (out of date since 19 May 2026)
- "No minimum stay" with no legal explanation
- References to SEF, the immigration service replaced by AIMA in October 2023
- A trademark symbol on "HQA", as if one company owned the route

None of these proves a provider is dishonest. Each one is a reason to ask harder questions.

[Due diligence guide](https://portugalhqacitizenship.com/hqa-visa-due-diligence)

## Questions to ask before you sign

1. Which legal article will my residence application use?
2. What exactly does the €175,000 pay for, line by line?
3. Who owns the company, its equity and any research results?
4. What is refunded if the visa is refused, and when?
5. What happens to my permit if the company or research fails?
6. How many months a year must I spend in Portugal?
7. Which university or research center is involved, and can I see their agreement?
8. What will family members cost, and which article will their permits use?

## Frequently asked questions

**Q:** How much is the Portugal HQA visa investment?

**A:** Article 90 does not set a minimum investment payment. Private packages cost about €170,000 to €200,000, most often €175,000, reported by providers, October 2026, plus fees for each family member. No government body sets or checks them.

**Q:** Do I get my €175,000 back?

**A:** Whether any part is refundable, held in escrow or repayable depends on the provider's contract. Read the refund and return terms before you pay.

**Q:** Is the HQA visa investment a government program?

**A:** No. The residence visa and permit are set in Portuguese law, but the investment packages are private products sold by providers.

**Q:** Does the HQA investment lead to citizenship?

**A:** It can, over time. Most applicants need 10 years of legal residence, plus Portuguese language and other requirements. EU nationals and nationals of countries where Portuguese is an official language need 7 years.

**Q:** Can my family come with me?

**A:** Yes. Family members of article 90 permit holders are exempt from the 2-year waiting period that applies to most permits since October 2025. Confirm which article your file uses.

**Q:** Is it cheaper than the Golden Visa?

**A:** The upfront amount is lower: about €175,000 against €500,000 for the fund route. A temporary permit may be cancelled after more than 6 consecutive months, or 8 non-consecutive months, outside Portugal during the permit's total validity, and the money is at risk in a business.

## Disclaimer

This page gives general information, not legal, tax or investment advice. Rules change. Speak to a qualified Portuguese lawyer before you commit money.