Portugal’s Golden Visa retains key benefits amid proposed citizenship changes

Proposed amendments to Portugal’s Golden Visa programme are expected to become entangled in legal and constitutional disputes, prompting experts to advise applicants to act quickly to secure the most favourable outcome.

Significant debate has followed the Portuguese government’s decision on 24 October to back an extension of the path to citizenship from five to 10 years for many Golden Visa applicants.

The residency-by-investment scheme remains extremely popular, with a Portuguese passport – ranked the fourth most powerful and appealing globally in the Global Passport Power and Appeal Index 2025 – continuing to attract strong interest.

Available to non-EU/EEA/Swiss citizens, the Golden Visa can be obtained through a €500,000 investment into one or more alternative investment funds eligible under the programme.

The initiative has been instrumental in fuelling Portugal’s economic growth thanks to its appeal among high-net-worth investors, entrepreneurs, and individuals seeking the numerous advantages of life in the country.

By 2026, the scheme is forecast to have generated €9 billion in direct investment into Portugal. Many believe this figure only hints at its broader economic impact, as thousands of Golden Visa investors also bring additional business ventures and capital into the country.

Paul Stannard, founder and CEO of Portugal Pathways, explained:

“There has been a lot of concern about the discussions in parliament last Friday and the constitutional issues it throws up.

‍
“However, many legal experts we have spoken to in the last few days are anticipating a number of challenges over the citizenship timeline before anything becomes law.

‍
“If this moves forward it has to go to the President who will then decide if this is a constitutional issue - our legal partners believe it is a significant one - before it can come back, rejected, amended or signed into law.

‍
“It is widely expected it will be referred to Portugal’s Constitutional Court. All of this will take a little bit of time.

‍
“Meanwhile, none of the other benefits of the Golden Visa are being altered. The programme continues to be hugely popular for a number of key reasons – and none of those are changing should the proposals eventually become law.

‍
“All those applying will obtain a Golden Visa residency card – renewable every two years - which provides them with unfettered access to the 29 countries in the European Schengen region.

‍
“They still only need to spend seven days a year in the country – which is particularly ideal for investors who see the nation’s huge potential – and the entry requirement, a €500,000 investment in a government-regulated investment fund is not increasing. Under the Golden Visa they can choose to continue their tax status in their current tax domicile or migrate to Portugal’s in the future.

‍
“That route remains, as do all the benefits Portugal brings – its quality of life, excellent healthcare and education options, cost-of-living, luxury real estate, culture and, of course, the 300 days of sunshine it delivers every year.

‍
“Our advice is not to delay while this is all taking place.

‍
“If you already have a Golden Visa and have completed the five years of legal residency and are eligible, we’d strongly advise you to file the citizenship request as soon as possible.

‍
“We have already seen, recently, the Constitutional Court throw out government plans to change the family reunification proposal and, according to legal experts we have spoken to, breaking a contract many applicants have already bought into by applying retrospective changes is likely to go the same way.”

Further reassurance has been offered by one of the most respected figures in Portuguese constitutional law. Professor Jorge Miranda, known as the “father” of Portugal’s democratic constitution and one of its original authors in 1976, has expressed serious reservations about the government’s proposed direction, warning that the changes would be “unconstitutional” if applied retrospectively.

‍

To learn more about investing in Portugal's Golden Visa programme, arrange a no-obligation discovery call with Portugal Pathways

‍

About Portugal Pathways

‍‍Portugal Pathways has supported hundreds of Golden Visa residency-by-investment applications and provides expert guidance through its professional supply chain network on estate planning, wealth management, Golden Visa and tax optimisation, including post-NHR / IFICI tax regime planning, as well as private healthcare, money transfers and bespoke relocation and luxury real estate solutions to enhance life and investment in Portugal

‍

Disclaimer: The information on the Portugal Pathways and Portugal Investment Owners Club (P Club for short) websites and in email communications is for general informational purposes only and should not be construed as legal, tax, or financial advice. You should consult and check with a qualified professional advisor before relying on any information provided on this website or in email communications. As it relates to investments in Golden Visas or other wealth management solutions offered by regulated and professional advisors, it is important to note that past performance is no guarantee of future returns. Private equities can be highly illiquid and come with risk and should always be under professional independent advice. Golden Visa investments need to be held for 6 to 7 years to allow for permanent citizenship/passport in the EU.

‍