Golden Visa Portugal 2025: Best Properties to Buy in Setúbal
By Nikola Zdraveski
Published: November 30, 2025
Category: Investment & Strategy Guides
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# Golden Visa Portugal 2025: Best Properties to Buy in Setúbal
Secure your European residency through strategic property investment. With residential real estate off the table, discover why Setúbal's commercial and tourist properties are now the smartest path to a Golden Visa.
## Find Your Golden Visa Solution in Setúbal's Thriving Market
The rules for Portugal's Golden Visa have changed, but the opportunity has not disappeared—it has simply shifted. With direct residential property purchases no longer an option, savvy investors are now turning their focus to commercial and tourist-designated real estate. Setúbal, a vibrant coastal city just south of Lisbon, has emerged as a prime location for these strategic investments.
A clarifying statement from AIMA (Agency for Integration, Migration and Asylum) on **November 18, 2025**, reaffirmed that investments of €500,000 or more in qualifying commercial real estate remain a valid pathway to residency. Setúbal's unique combination of a bustling port, a growing tourism sector driven by the stunning Arrábida Natural Park, and a vibrant local economy makes it a hotspot for these types of properties. This guide will help you identify the best opportunities to buy in Setúbal for your Golden Visa application.
[Image: An elegant boutique hotel in the charming historic center of Setúbal, an example of a Golden Visa-eligible tourist property investment.]
## Investment Strategy 1: Commercial Real Estate
The most straightforward path to the Golden Visa is a €500,000 investment in commercial property. In Setúbal, this opens up several lucrative options for buyers:
• **High-Street Retail:** Acquiring a shop or a series of smaller retail units in the bustling historic center, particularly around the Praça de Bocage and Avenida Luísa Todi, offers stable rental income from local businesses and tourist-focused shops.
• **Office Space:** With Setúbal's economy growing, there is increasing demand for modern office space. Buying a floor in a new office building or a renovated space near the city's administrative centers can provide long-term tenants and capital appreciation.
• **Logistics and Light Industrial:** Leveraging Setúbal's major port, investing in small warehouses or logistics spaces in the designated industrial zones offers a B2B investment angle tied to Portugal's robust export sector.
Our investment property agents [https://www.realestate-lisbon.com/professionals/real-estate-agents-investment-properties] can provide detailed yield analysis for each of these commercial sub-sectors.
## Investment Strategy 2: Tourist-Designated Properties
For investors drawn to Portugal's booming tourism industry, buying into a tourist-licensed project is an excellent option. A recent report from Confidencial Imobiliário on **October 20, 2025**, confirmed that tourism in the Setúbal region has surpassed pre-pandemic levels by 15%, signaling a robust and growing market. These investments often come with professional management, making them a hassle-free option.
Opportunities in Setúbal include:
• **Hotel Room Fractions:** Investing in a fractional ownership of a new 4 or 5-star hotel. These often come with a guaranteed rental return for a set period and a number of weeks for personal use.
• **Serviced Apartments:** Buying an apartment within a registered 'aparthotel' complex. These properties are managed and rented out by a hotel operator, providing a hands-off income stream and qualifying for the Golden Visa.
[Image: A stunning view of the Sado Estuary and Tróia peninsula from the balcony of a modern tourist apartment in Setúbal.]
Navigating the legal requirements for a Golden Visa property purchase is complex. Ensure your investment is compliant by working with our expert Golden Visa legal team [https://www.realestate-lisbon.com/professionals/real-estate-lawyers-golden-visa-legal-services]. Let us know your goals, and we will connect you with pre-vetted, qualifying investment projects.
## Your Questions Answered: Setúbal Golden Visa
Can I still get a Golden Visa by buying property in Portugal?
Yes, but with important changes. Direct residential real estate investment is no longer eligible. However, you can qualify by investing a minimum of €500,000 in eligible commercial real estate or tourist-designated properties. A statement from AIMA on **November 18, 2025**, clarified these rules, making clear the continued viability of property-linked investment.
Why is Setúbal a good location for a Golden Visa property investment?
Setúbal offers a compelling mix of a growing tourism sector and a robust local economy, creating strong demand for both commercial and tourist properties. It's located in the Lisbon Metropolitan Area but is classified as a low-density area for certain incentives, offering strategic advantages. Prices are also more accessible than in Lisbon, allowing for potentially higher returns. Our Golden Visa specialists [https://www.realestate-lisbon.com/professionals/real-estate-agents-golden-visa-properties] can provide a full breakdown.
What kind of commercial properties should I buy in Setúbal?
Look for high-street retail units in the historic center, modern office spaces near the Bonfim stadium, or small warehouses in the industrial zones near the port. These properties benefit from both local economic activity and the growing tourism trade. A diversified portfolio of smaller commercial units can also be a viable strategy.
What qualifies as a 'tourist property' for the Golden Visa?
These are typically apartments or villas integrated into a registered tourist development (known as an 'Empreendimento Turístico'), such as a hotel or aparthotel. The property must be licensed for tourism services. Investing in fractional ownership of a larger hotel project is also a popular and qualifying route.
Are there specific Golden Visa-approved projects in Setúbal?
Yes, several hotel and aparthotel projects in and around Setúbal are structured specifically for Golden Visa investors. For example, new developments near the Tróia peninsula ferry and in the Arrábida Natural Park foothills are popular. For legal verification, it is crucial to work with experienced Golden Visa lawyers [https://www.realestate-lisbon.com/professionals/real-estate-lawyers-golden-visa-legal-services].
What is the minimum investment amount?
The standard minimum is €500,000 for commercial real estate. This can be reduced to €400,000 if the property is located in a designated low-density area. For properties over 30 years old requiring renovation, the investment can be as low as €350,000 (or €280,000 in a low-density area), but these are increasingly rare and complex.
What are the risks of investing in tourist properties?
The main risks are linked to the tourism market's performance and the operator's management quality. It's crucial to perform due diligence on the developer and the hotel management company. A report by Confidencial Imobiliário on **October 20, 2025**, showed tourism in the Setúbal region has recovered to 115% of pre-pandemic levels, indicating a strong current market.
How do I find eligible properties in Setúbal?
Finding and vetting eligible properties is a specialized task. It requires deep local knowledge and legal expertise. The best approach is to work with a dedicated buyer's agent who specializes in Golden Visa investments. Share your investment goals with us for a curated list of pre-vetted, qualifying properties in Setúbal.
