Portugal Golden Visa vs other EU residency routes

The remaining European programmes differ in kind: Italy offers an investor visa, and Malta and Cyprus grant permanent residence. A fair comparison sets out each route's type, minimum and status side by side.

How does the Portugal Golden Visa work in 2026?

The Portugal Golden Visa is a residency-by-investment programme for eligible non-EU, non-EEA and non-Swiss nationals who make a qualifying investment under Portuguese legislation. According to AIMA, the fund route requires at least €500,000 in a non-real-estate Portuguese fund with a maturity of at least five years and at least 60% invested in Portuguese commercial companies.

Other routes remain open under the same AIMA framework:

• Business creation or investment: at least €500,000 in a Portuguese company, subject to job requirements.
• Cultural or heritage investment: from €250,000, through the listed public and cultural entities.
• Scientific research investment: €500,000 or more, through research institutions in the national scientific and technological system.
• Job creation: at least 10 jobs.

The Golden Visa uses a low-presence structure averaging approximately seven days per year. AIMA's frequently asked questions describe seven days in the first year and fourteen days in each subsequent two-year period, under legally applicable terms; the requirement is subject to Portuguese legislation and may change. The temporary permit is valid for two years, and approval is discretionary. Direct property purchase has not been a qualifying route since the end of 2023.

The Portugal Golden Visa Fund Index is a page on the Portugal Pathways site that lists funds meeting the Golden Visa framework. It is an information resource, not a recommendation of any fund.

Which European residency-by-investment routes are still open?

Several European residency routes remain open, and they differ in type as well as in minimum investment. The table below lists only routes that currently operate, each labelled by type and attributed to the official source. The minimums are not like-for-like, because a fund subscription, a company investment, a property-led permit and a donation carry different risks and holding periods.

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Greece also operates a programme, but its thresholds are not included because no official source was available. Italy's figures come from an embassy post dated 2024, so thresholds may have changed and should be confirmed with the official source before any decision.

Which routes have closed?

Spain and Ireland have closed their investor routes to new applicants. Both appear here and not in the table above, because a closed route cannot be used for a new application. The status of each comes from the responsible government body.

• Spain: according to a Spanish consulate notice, residence visas for investors are abolished as of the entry into force of the twenty-first final provision on 3 April 2025. The notice refers to Organic Law 1/2025.
• Ireland: the Irish government announced that the Immigrant Investor Programme would stop accepting applications from the close of business on 15 February 2023. The closure does not affect existing projects or individuals already approved, and approximately 1,500 cases were on hand at closure.

Existing holders of closed routes are a separate case. Their position depends on the terms of the original approval and requires specialist advice.

How do the routes differ in type, not just price?

The European investor routes differ in kind, not just price. Portugal's programme grants residency by investment, Cyprus issues a permanent-residence permit, Malta operates a permanent-residence programme, and Italy issues an investor visa. Residency, permanent residence and citizenship are three distinct legal statuses, and no route in the table is a citizenship programme.

• Portugal: a residence permit valid for two years, renewed through AIMA. Permanent residency may be available after five years of lawful residency, subject to current requirements, and naturalisation is a separate process.
• Cyprus: a property-led permit of unlimited validity. It lapses if the holder is absent from Cyprus for two years.
• Malta: the Residency Malta Agency states that the programme grants permanent residence and is distinct from the separate legislation governing citizenship.
• Italy: an investor visa with several investment options. The embassy post states that the programme has reduced investment thresholds and no minimum residence requirements.

The Portugal Pathways visa overview describes the wider set of Portuguese visa options. A residence permit in any country does not, by itself, determine tax residency there, which is a separate question under each country's tax law.

What should investors compare before choosing a route?

Investors comparing European residency routes weigh route type, status, minimum investment, presence requirements, family inclusion, longer-term pathways, tax residency and the currency of the information. The factors below form a checklist for a professional conversation, not a ranking of the routes.

Investors can compare the routes on these eight points:

1. Route type: residency, permanent residence or an investor visa. The rights and the paperwork differ.
2. Status: open, closed or suspended for particular nationalities, checked against the official source on the day of the decision.
3. Minimum investment and what it buys: a fund subscription, business creation, a property-led permit or a donation each carry different risks, holding periods and liquidity.
4. Presence requirements: stated per programme. Portugal's are set out above, and Cyprus's permit lapses after two years' absence.
5. Family inclusion: how each programme treats spouses, children and dependants, assessed individually.
6. Longer-term pathways: permanent residence and citizenship follow separate legal processes, and no route promises either.
7. Tax residency: a residence permit does not, by itself, determine tax residency, and each country's rules are a separate question.
8. Reverification: rules change, so every figure and status should be confirmed with the official source and a licensed professional before acting.

Frequently asked questions about Portugal and other EU Golden Visa routes

Is Spain's Golden Visa still available?

No, Spain's Golden Visa is no longer available to new applicants. According to a Spanish consulate notice, residence visas for investors were abolished when the twenty-first final provision entered into force on 3 April 2025, and the notice refers to Organic Law 1/2025.

Is the Portugal Golden Visa still available?

Yes, the Portugal Golden Visa is still available through the fund route and other qualifying routes. The fund route requires at least €500,000 in a qualifying fund, and approval is discretionary. Direct property purchase has not been a qualifying route since the end of 2023, so property and residency planning are separate matters.

Does a Portugal Golden Visa allow residents to live and work anywhere in the EU?

No, a Portugal Golden Visa does not allow residents to live and work anywhere in the EU. Portuguese residency provides access to Portugal and visa-free Schengen travel for short stays, generally up to 90 days in any 180-day period under current rules. It does not grant residence, employment or establishment rights in other countries.

Are the other European investor routes the same kind of programme as Portugal's?

No, the other European investor routes are not the same kind of programme as Portugal's. Cyprus issues a property-led permanent-residence permit, Malta's programme grants permanent residence distinct from citizenship, and Italy issues an investor visa with several investment options. Ireland's programme is closed to new applications.

Comparing European residency routes with licensed professionals

A comparison of European residency routes gives an investor questions to bring to a licensed professional, not a recommendation of a route. Portugal Pathways is an integrated information, introductions and advisory platform that has supported hundreds of Golden Visa residency-by-investment applications through its professional network. It may receive fees or commissions from introductions and partner arrangements, and it does not recommend a route. The Golden Visa solutions page describes its support.

To compare Portugal's Golden Visa with other European routes alongside licensed professionals, contact Portugal Pathways to find out how its introductions work.

Portugal Pathways provides general information and introductions and does not offer regulated investment, tax, legal or immigration advice. Residency approval is discretionary and subject to AIMA review and applicable Portuguese law. Tax residency is determined separately from immigration residency according to Portuguese tax law and individual circumstances. The value of luxury new homes and qualifying investments may rise or fall; past performance is not a reliable indicator of future results. Where investment routes for the Golden Visa are referenced, investments are offered by independent, regulated fund managers; capital is at risk. Qualifying routes, investment thresholds and physical presence requirements are subject to Portuguese legislation and may change. Readers should obtain independent professional advice before making decisions about investment, residency, citizenship, tax residency, luxury new home acquisitions, or estate or succession planning.

Last reviewed: 29 September 2026

Sources:

• AIMA, Autorização de Residência para Investimento – Art. 90.º-A, and ARI frequently asked questions, accessed 29 September 2026.
• Spanish Ministry of Foreign Affairs, Consulate in Beijing, investor visa notice, accessed 29 September 2026.
• Government of Ireland, announcement of the closure of the Immigrant Investor Programme, published 14 February 2023.
• Italian Embassy in Pretoria, Visa for Italy: investor program, May 2024.
• Residency Malta Agency, MPRP legal framework, accessed 29 September 2026.
• Government of Cyprus, Immigration Permits for Investors, posted 29 December 2025.

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