In short — as of July 2026: Portugal's Golden Visa still exists, but the real-estate route is gone — you now qualify mainly through a €500,000 subscription to a CMVM-regulated fund with no real-estate exposure, with scientific research (€500,000), arts and cultural heritage (€250,000, the lowest entry point) and company-creation routes also available. Physical presence stays minimal, historically averaging about seven days a year, and AIMA processing currently runs roughly 12 to 36 months. Hold the investment for five years to become eligible for permanent residency; citizenship, since 19 May 2026, requires seven years' residence for EU/CPLP nationals and ten for others, plus an A2 Portuguese exam.
The Portugal Golden Visa still exists in 2026, but almost everything about it has changed. Officially the "Residence Permit for Investment Activity" (ARI), it grants residency to non-EU nationals who put qualifying capital into Portugal and keep it there. The headline you need first: the real-estate route is gone. If your plan involves buying an apartment to qualify, that plan no longer works. Here is what does.
What the Golden Visa Is Today
The programme gives investors and their families the right to live in Portugal while spending very little time here — historically an average of seven days a year. Maintain the investment for five years, meet the conditions, and you may become eligible for permanent residency or naturalisation under the rules in force at that point.
The reform that reshaped it was driven by housing pressure in Lisbon and Porto. Lawmakers stripped out property (including property-heavy funds) and pointed the programme at productive investment instead. What remains is narrower, more regulated, and aimed at capital that builds companies, funds research or supports culture.
Current Investment Routes
Thresholds are set by law and can change, so confirm the figures before committing. As of 2026 the qualifying options are:
- Investment funds — €500,000. Subscribe to an eligible Portuguese venture-capital or investment fund regulated by the CMVM. Crucially, the fund must not be exposed to real estate, directly or indirectly. This is now the most-used route.
- Scientific research — €500,000. Contribute to research activities within Portugal's national science and technology system.
- Arts and cultural heritage — €250,000. Support artistic production or the preservation of national heritage. This is the lowest entry point.
- Company creation and jobs. Form or reinforce a Portuguese company that creates a set number of permanent jobs, or invest capital into an existing business that does.
At a glance, the current routes and their minimums:
| Route | Minimum investment | Notes |
|---|---|---|
| Investment fund | €500,000 | CMVM-regulated fund with no real-estate exposure; the most-used route |
| Scientific research | €500,000 | Contribution to the national science and technology system |
| Arts & cultural heritage | €250,000 | Support for artistic production or heritage; the lowest entry point |
| Company creation + jobs | Capital + a set number of permanent jobs | Form or reinforce a Portuguese company that creates jobs |
| Real estate | Removed | No longer qualifies since the 2023 reform |
Thresholds are set by law and can change, so confirm the current figure before committing. Notice there is no longer a passive property option, and no bank-deposit route. The programme now expects your money to do something in the economy.
What It Costs Beyond the Investment
The qualifying sum is only part of the budget. Plan for:
- Government processing and permit fees, payable at application and at each renewal.
- Legal and due-diligence costs, which are not optional — you should independently vet any fund.
- Fund management and subscription fees, typically an annual percentage.
- Family members, each of whom adds to the fee load.
Treat these as real numbers in your model, not rounding error.
The Timeline Reality
This is where expectations most often break. AIMA, the immigration agency that replaced SEF, is working through a substantial backlog. Realistic processing for a Golden Visa application currently runs roughly 12 to 36 months from submission to a granted permit. Portugal has legislated to protect applicants whose files are delayed by the authority's own backlog, but you should still assume this is a multi-year commitment, not a quick transaction. Anyone promising a fast approval is not being straight with you.
Key Benefits
- Low physical presence: the stay requirement is minimal, which is the programme's main draw.
- Family inclusion: spouse, dependent children and, in some cases, dependent parents can be included.
- Schengen mobility: residency allows visa-free movement within the Schengen Area.
- A long-term pathway: it can lead toward Portugal permanent residency and eventual citizenship, subject to the naturalisation rules of the day.
On that last point, be precise about the rules. Since 19 May 2026, naturalisation requires seven years of residence for EU/CPLP nationals and ten years for others, with an A2 Portuguese exam. The residency clock generally starts from the date the permit is issued — which, given AIMA's timelines, is worth factoring into any citizenship plan. Do not rely on the old five-year figure.
The Golden Visa for Gulf Investors
Portugal has quietly become one of the most-requested European residency programmes for families in the UAE, Saudi Arabia, Qatar and Kuwait. The appeal is specific, and it is worth being clear about what Portugal offers a Gulf investor that a domestic golden visa does not.
A UAE Golden Visa grants long-term residency inside the UAE. A Portuguese Golden Visa is a different instrument: it is a foothold in the European Union. That distinction drives most Gulf enquiries — the goal is not a second home so much as EU and Schengen access, a Plan-B jurisdiction under stable rule of law, and, over the long term, a pathway toward an EU passport for the next generation. For families whose children may study in Europe, or who want mobility that does not depend on any single region, that is the whole point.
Several features fit the Gulf investor profile well:
- You do not have to move. The physical-presence requirement has historically averaged around seven days a year. You can hold the residency from Dubai, Riyadh or Doha and keep your life and business where they are.
- The fund route suits capital, not relocation. Since real estate was removed, the main route is a €500,000 subscription to a CMVM-regulated fund. If Sharia-conscious structuring matters to you, ask your adviser to screen for funds whose strategy and holdings can be reviewed against your requirements — the eligible-fund universe is varied, and due diligence is essential regardless.
- The whole family is included. Spouse, dependent children and, in defined cases, dependent parents can be added to the same application.
- It is an EU citizenship pathway, not just residency. Be precise about the timeline, though: since 19 May 2026, naturalisation requires seven years of residence for EU/CPLP nationals and ten years for others, plus an A2 Portuguese exam. This is a long-horizon plan for the next generation, not a quick passport — anyone in the Gulf market selling it as a fast citizenship is misrepresenting it.
The honest caveats apply here as everywhere: AIMA's processing runs into years, thresholds are set by law and can change, and no adviser can guarantee approval or a future citizenship outcome. What a good adviser can do is structure a compliant application, vet the fund independently, and manage the process end to end so you are not navigating a foreign bureaucracy from abroad.
Investing from the Gulf? Speak with our advisers to compare fund options and structure a compliant Golden Visa application from the UAE, Saudi Arabia or the wider GCC.
Who Should Consider It
The Golden Visa suits investors who want a European residency base without relocating full-time and who are comfortable placing capital into regulated funds or operating businesses rather than property. If your priority is actively running a company here, the company setup route and other visa options may fit better. Entrepreneurs and skilled professionals who do not want to deploy this kind of capital should look at the Startup Visa or the D8 digital nomad visa on our visas hub. To weigh the Golden Visa against the active-investment routes — the D2 and the Startup Visa — see our broader residency and citizenship by investment guide. For a focused look at what the reform changed, see our dated 2026 Golden Visa changes update. For a full, transparent breakdown of every qualifying route — and the ones that were removed — see our Golden Visa investment routes guide.
Practical Steps
- Obtain a Portuguese tax number (NIF) and open a local bank account.
- Choose and independently vet your route — for funds, scrutinise the CMVM registration, strategy and fee structure.
- Complete the investment and gather proof it is held.
- Submit the residence application to AIMA and prepare for a long processing window.
Investment migration is a serious financial and legal commitment. Rules, processing times and eligible funds evolve, and no advisor can guarantee approval or a citizenship outcome. Independent legal and financial due diligence on any fund or business is not a formality — it is the difference between a sound investment and a costly one.
Considering the Golden Visa route? Speak with our advisers to review the current options and structure a compliant investment plan.
Frequently asked questions
No — the real-estate route was removed in the 2023 reform, and property-heavy funds no longer qualify either. The most-used route today is a €500,000 subscription to a CMVM-regulated fund with no real-estate exposure.
Realistic AIMA processing currently runs roughly 12 to 36 months from submission to a granted permit. Treat it as a multi-year commitment; anyone promising a fast approval is not being straight with you.
It can, but on a longer timeline than before: since 19 May 2026, naturalisation requires seven years of residence for EU/CPLP nationals and ten years for others, plus an A2 Portuguese exam. The old five-year figure is out of date.