Admission Requirements

We seek to admit a small number of students each year with the following profile:

Strong intellectual development, as demonstrated by high academic marks, test scores and professional experience;
Knowledge of undergraduate math and basic computer skills;
Emotional maturity to complete a rigorous program of study;
Commitment to a career of scholarship and research (preferred).

Application Materials

All applications must be submitted online.

Applications submitted on paper and/or by email will not be considered.

Online Application Form
Curriculum Vitae
Undergraduate/Bachelor certificate (with final grade)
(Optional) GMAT or GRE score(*)
TOEFL score(**)
Master course certificate (with final grade)
You must present a transcript of records with all courses (undergraduate/bachelor and master degree) grades per course and the duration of your degree;
Two Letters of Recommendation
Motivation Letter (between 200-300 words)
Research Project Proposal (between 300-900 words)

(*) GMAT/GRE score, if presented, will benefit the application; GMAT ISCTE Business School code – 0964.

(**) TOEFL score can be waived if the applicant provides alternative evidence of proficiency in English.

As part of the application review process, the Program Director may request an interview with the candidate.
The application for Doctoral Programs requires the payment of non-refundable-fee according to each round. Check the due amount in the timetable below.

Check the general terms for admission here.

Non-Portuguese or non-Bologna Declaration country diploma or certificate

Please be aware that if your diploma or certificate was not awarded by a Portuguese university or a university from a Bologna Declaration Country, you must provide the following information:

Your diploma or certificate must have the final grade;
You must present a Transcript of records with all courses, grades per course and the duration of your degree;
The documents must have the Hague Apostille or be recognized by the Portuguese local Consular agency (to be provided until the 30th October);
When the documents mentioned above are in a foreign language other than Spanish, French, English or Italian, a certified translation must be delivered.

The application will not be analyzed if the documents submitted do not meet the above conditions.

Visa

If you need a visa to study in Portugal, please apply as early as possible. Visa applications can be timely.

Evaluation Criteria & Ranking 2025-2026

Portuguese/English Versions

Academic Year 2025 / 2026

Application Deadlines

round	application fee	opening date	closing date	reservation fee	Enrollment in the program	Registration in the curricular units	vacancies	Current vacancies
1^st Round	€ 70	December 16, 2024	January 15, 5:00pm (Portuguese time)	€ 500	January 30 - February 10	April 9- April 16	CLOSED	10 (unused vacancies transfer to the next round)
2^nd Round	€ 70	January 16, 2025	February 19, 5:00pm (Portuguese time)	€ 500	March 6 - March 17	April 9- April 16	CLOSED
3^rd Round	€ 70	February 20, 2025	April 1 , 5:00pm (Portuguese time)	€ 500	April 9- April 23	April 9- April 23	CLOSED
4^th Round	€ 70	April 8, 2025	May 14, 5:00pm (Portuguese time)	€ 500	May 29 - June 12	May 29 - June 12	CLOSED
5^th Round	€ 70	May 15, 2025	June 25, 5:00pm (Portuguese time)	€ 500	July 10 - July 24	July 10 - July 24	CLOSED
6^th Round	€ 70	July 9, 2025	August 27, 5:00pm (Portuguese time)	€ 500	Setembro 11 - September 22	Setembro 11 - September 22	OPEN
Supplementary Round	€ 70	September 10	September 24, 5:00pm (Portuguese time)	€ 500	October 9 - October 16	October 9 - October 16	-

Only up to 10 candidates will be accepted.

Fees and Financial Aid

For the PhD in Finance, the tuition fees are €2,750 per year. Students are expected to pay a minimum of 4 years of tuition fees.

Please check with the Academic Services for Iscte payment schemes.

Scholarship Calls

Merit scholarships

Scholarships for duration of the PhD program are granted to students with an excellent academic profile.

BRU-Iscte will offer merit scholarships to PhD candidates with an outstanding academic background. For more information see Regulation (link: Regulamento).

Funding Opportunities

There are several scholarships and financial support schemes available for national and international PhD candidates & students.

Competition can be strong, but it is well worth exploring your options. Following are some of the main places to find out more about scholarships and funding opportunities.

Funding Opportunities for PhD Candidates