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Since its launch in 2012, the Portugal Golden Visa has established itself as one of the most credible and enduring residency-by-investment programmes in the world.
Designed to attract long-term foreign capital while offering lawful residence rights, the programme has evolved significantly over the past decade.
As of early 2026, Portugal’s Golden Visa is estimated to have contributed €54 billion to Portugal’s economy, according to a report by the World Digital Foundation which factored in the wider benefits of the investments made.
At its core, the Golden Visa is a residency-by-investment scheme available to non-EU, non-EEA, and non-Swiss nationals. Applicants must be over the age of 18, hold a clean criminal record and make a qualifying investment in Portugal.
Portugal’s framework combines investor flexibility with clear compliance standards. The programme also supports family reunification, allowing applicants to include a spouse or recognised partner, dependent children, including those in education, and dependent parents of either spouse, provided dependency can be demonstrated.
One of the most important developments in recent years was the 2023 reform, which removed real estate and capital transfer options from the programme.
The most widely used and practical route today is a minimum investment of €500,000 into a qualifying Portuguese alternative investment fund.
These funds must be regulated by Portugal’s securities authority and invest primarily in the Portuguese economy. Investors should always confirm that any fund remains fully compliant at the time of application, as eligibility is strictly assessed.
The minimum investment threshold of €500,000 remains unchanged, but tax treatment is often misunderstood.
Holding a Golden Visa does not automatically make an individual a Portuguese tax resident. Investors may remain tax resident elsewhere during the qualifying period, provided they meet the relevant criteria.
Portugal does not tax gains at the fund level for compliant structures, although individual tax exposure varies by jurisdiction. US citizens, for example, may face PFIC or QEF reporting requirements. Professional tax advice should always be sought before proceeding.
The benefits of the Golden Visa are clear.
Successful applicants obtain legal residency in Portugal, visa-free travel across the 29 nations which comprise the Schengen Area, and the right to live, work and study in Portugal. The programme offers a structured pathway to permanent residence or citizenship, provided the investment is maintained and renewal requirements are met. These benefits are not automatic entitlements but form part of a regulated immigration framework.
Another defining advantage is the minimal physical presence requirement. Golden Visa holders are required to spend an average of only seven days per year in Portugal, or fourteen days in each two-year period, over five years.
This low residency threshold continues to appeal to internationally mobile families and investors who value flexibility.
As of early 2026, after five years from the date of application approval, investors may apply for permanent residence or Portuguese citizenship. Note: This may be increased to 10 years.
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Citizenship applicants must demonstrate basic integration, including passing a Portuguese language test at A2 level.
Portugal permits dual citizenship, subject to the applicant’s home country rules. Any future policy changes should be viewed as potential rather than guaranteed and assessed at the time of application.
The application process involves investment selection, legal due diligence, submission to AIMA, biometrics in Portugal and subsequent approvals and renewals. Timelines vary and remain subject to administrative capacity, with biometrics appointments still representing a common bottleneck.
In 2026, Portugal’s Golden Visa remains the global benchmark not because it promises shortcuts, but because it delivers legal certainty, family security and a realistic European future. For investors seeking a balanced, well-regulated route to residency by investment, Portugal continues to stand apart.
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.
Secure EU Residency Through Portugal’s Golden Visa By Investment
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