Portugal Golden Visa
EU Residency Through Investment
- Through qualifying investment funds
- FromEUR 500,000
- In Portugal every two years
- 14 days
- To permanent residence
- 5 years
Portugal's Golden Visa, formally the ARI program, gives non EU nationals the right to live, work and study in Portugal, with Schengen mobility attached. It remains one of Europe's most flexible residency by investment routes, largely because of what it does not demand: no relocation, no language requirement at the residency stage, and one of the lightest physical presence obligations in Europe.
What changed in May 2026, and what did not
The citizenship timeline changed.
Under the revised Nationality Law in force since 19 May 2026, naturalisation now requires ten years of legal residence for most applicants, or seven years for EU nationals and citizens of Portuguese speaking countries. Applications filed on or before 18 May 2026 continue under the previous five year rule.
The Golden Visa itself did not change.
Investment thresholds, the fourteen day stay requirement, family inclusion and the route to permanent residence after five years all remain as they were.
The distinction matters. Portugal amended its citizenship law, not its immigration law. If your objective is EU residency with freedom of movement, the program works exactly as it did. If your objective is a Portuguese passport on a fixed timetable, the arithmetic has changed and the plan needs revisiting.
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Key benefits
- Schengen mobility. Visa free travel across the Schengen area
- The right to live, work and study in Portugal, without any obligation to do so
- Fourteen days every two years. Among the lowest presence requirements in Europe
- Permanent residence after five years, unaffected by the 2026 reform
- Family included. Spouse, dependent children and dependent parents on the same application
- Access to Portuguese healthcare and education
- No tax exposure unless you spend more than 183 days a year in Portugal
Investment options
Real estate no longer qualifies. The property route was removed in 2023 and has not returned. Any page still listing it is out of date, which is worth checking when you compare sources.
Current qualifying routes:
- Most applications
Investment funds
FromEUR 500,000
Qualifying Portuguese funds with at least 60 percent invested in Portuguese companies and a minimum maturity of five years. The amount may be split across several eligible funds.
Scientific research
FromEUR 500,000
Into activities carried out by institutions within Portugal's national scientific and technological system.
Company formation or expansion
FromEUR 500,000
Establishing a Portuguese company with at least five permanent employees, or increasing the capital of an existing one while maintaining ten jobs for three years.
Cultural heritage
FromEUR 250,000
Supporting artistic production or heritage preservation through qualified public institutions or foundations of recognised public utility.
Job creation
10 positions
Ten full time positions created in Portugal, with no minimum capital.
The fund route accounts for most applications, because it is the only option that is passive, divisible and does not require you to run anything.
Requirements
- A qualifying investment held for the full residency period
- Non EU, non EEA and non Swiss nationality
- No entry ban in the Schengen area
- A clean criminal record
- A Portuguese bank account and NIF tax number
- Private health insurance
- Evidence of means to support yourself in Portugal
The process
Assess your position
Before anything else, establish whether you qualify and what the 2026 reform means for your particular objective. This step decides everything that follows.
Obtain your NIF and open a Portuguese account
Both are prerequisites, not formalities. All investment funds must move through the Portuguese banking system.
Prepare the file
Criminal record certificates, proof of funds, insurance and supporting documents, each with its own validity period and legalisation requirements.
Complete the investment
Proof of investment is submitted with the application, so the transfer must be finalised and documented first.
Submit and wait
Applications go to AIMA. Processing times have been the program's weakest point in recent years and should be planned for rather than hoped about.
Collect your residence permit
You are then a legal resident of Portugal with Schengen access.
Worth knowing
Hold the investment
It must remain in place for the full residency period, currently five years to permanent residence.
Fourteen days per two year period
Low, but not zero. Missed presence requirements are a common and avoidable renewal problem.
Portuguese banking is mandatory
Funds transferred through other channels will not be accepted as proof.
Tax residency is separate from immigration residency
You are not a Portuguese tax resident unless you spend more than 183 days a year in the country. Holding the visa alone does not create a tax liability.
Timelines are now a strategic decision, not a formality. With naturalisation at seven or ten years, Portugal competes differently against Greece, Italy and Malta than it did two years ago. For a residency and mobility objective it still leads. For a passport on a deadline, the comparison is worth running properly before you commit capital.
Questions about the Portugal Golden Visa
Last reviewed
Can I still buy property for the Portugal Golden Visa?
No. The real estate route was removed in 2023 and has not returned. Current options are investment funds, scientific research, company formation, cultural heritage and job creation.
What is the minimum investment?
EUR 500,000 for the fund, research and company routes. EUR 250,000 for cultural heritage support. The job creation route requires ten full time positions and no minimum capital.
How long until I can apply for Portuguese citizenship?
Ten years for most applicants, or seven years for EU nationals and citizens of Portuguese speaking countries. This changed on 19 May 2026 under the revised Nationality Law. Applications filed on or before 18 May 2026 continue under the previous five year rule.
Does the citizenship change affect the Golden Visa itself?
No. Investment thresholds, the stay requirement, family inclusion and the route to permanent residence after five years all remain as they were. Portugal amended its citizenship law, not its immigration law.
Does the time I have already spent as a resident count toward the new ten years?
This is genuinely unresolved. The statute is silent on it and the point is currently disputed. Anyone already holding a Portuguese residence permit should take specific legal advice rather than rely on general guidance.
How much time do I need to spend in Portugal?
Fourteen days within each two year period. This is among the lowest presence requirements in Europe, but it is not zero and missed presence is a common renewal problem.
Which investment route do most people use?
The fund route. It is the only option that is passive, can be split across several eligible funds, and does not require you to run anything.
Who can I include in my application?
Your spouse, dependent children and dependent parents.
Will I pay Portuguese tax?
Not unless you spend more than 183 days a year in Portugal. Holding the visa alone does not create a tax liability.
Is Portugal still worth it if the passport now takes ten years?
It depends entirely on what you want. For EU residency, Schengen mobility and a low presence requirement it still performs as well as it always did. For a passport on a fixed timetable the arithmetic has changed, and Greece, Italy and Malta are worth comparing properly before you commit capital.
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