In short — as of July 2026: The Golden Visa suits investors who can commit around €500,000 (e.g. a CMVM-regulated fund) but want to keep living abroad — it requires only about 7 days per year in Portugal. The D7 suits people with modest, stable passive income (from €920/month) who are genuinely relocating, since it demands real residence. Both lead to permanent residency at 5 years and citizenship at 7 years (EU/CPLP) or 10 years (others) under the law in force since 19 May 2026.
People often frame this as "the cheap visa versus the expensive one," but that misses the real distinction. The Golden Visa and the D7 answer two completely different questions: do you want to invest and stay largely where you are, or do you want to move to Portugal on income you already receive? Get that clear and the choice usually makes itself.
The Core Trade-off: Money Versus Presence
The Golden Visa is an investment route. In 2026, after real estate was removed, the mainstream option is a €500,000 investment in a qualifying, CMVM-regulated fund, with a lower-cost arts and cultural-heritage contribution route of €250,000 also available (reduced to €200,000 in a low-density territory, under the 20% reduction of Article 3.º n.º 2, Lei n.º 23/2007). Its defining benefit is flexibility: you are only required to spend an average of about 7 days per year in Portugal (broadly 7 days in the first year and 14 days per subsequent two-year renewal). You can keep your home, job and tax base abroad while your residency ticks along. The route's legal basis is Article 90.º-A of Lei n.º 23/2007, with the qualifying investments defined in Article 3.º n.º 1 al. d) (last amended by Lei n.º 56/2023); we track the current figures in our Portugal visa dataset.
The D7 is a passive-income route. There is no large capital requirement — you show durable income at or above the minimum wage (€920/month in 2026, roughly €11,040/year) plus a savings cushion. But the D7 requires genuine relocation: broadly, you cannot be absent for more than six consecutive or eight non-consecutive months during the permit's validity. It is built for people who actually intend to live in Portugal.
Who Each One Suits
The Golden Visa fits an investor who wants an EU residency and eventual citizenship option without uprooting their life — someone whose work, business or family keeps them elsewhere but who can deploy significant capital and is comfortable with a multi-year process. The D7 fits a retiree or financially independent person living on pensions, rent, dividends or royalties who genuinely wants to make Portugal home, at a fraction of the upfront cost.
Cost and Effort Compared
Beyond the investment itself, the Golden Visa carries substantial government fees — under Portaria n.º 307/2023, €8,418.90 per person for the grant of the residence permit and around €4,210.30 per person at each renewal (the permanent grant is €11,786.70; see our AIMA fee data), plus a reception-and-analysis charge of €842.80 per person to apply (€632.10 via the digital channel; Portaria n.º 307/2023, Anexo III n.º 3 — see our AIMA fee data) and typically €5,000–€15,000 in legal costs. The D7's out-of-pocket costs are far lower; its "price" is the requirement to relocate and become a Portuguese tax resident.
| Golden Visa | D7 Visa | |
|---|---|---|
| Main requirement | ~€500,000 qualifying investment | Passive income from ~€920/month + savings |
| Physical presence | ~7 days/year (14 per 2-yr renewal) | Genuine residence — no long absences |
| Best for | Investors keeping a life abroad | Retirees & financially independent relocators |
| Upfront cost | High (investment + fees €10k+/person) | Low (mainly proof of income & savings) |
| Tax residency | Not triggered by the visa alone | Yes — you live and are taxed here |
| Processing | Long AIMA queues (often 1–3 yrs) | Usually ~6–9 months |
| PR / citizenship | 5 yrs PR; 7 or 10 yrs citizenship | 5 yrs PR; 7 or 10 yrs citizenship |
What They Share: The Road to Citizenship
Whichever route you take, the long-term destination is the same. After five years of lawful residence you can generally apply for permanent residency. Citizenship is a longer game since the Nationality Law in force from 19 May 2026: naturalisation now requires seven years of lawful residence for nationals of EU and Portuguese-speaking (CPLP) countries and ten years for everyone else, plus an A2-level Portuguese exam. The old "five years to a passport" figure is out of date. Crucially, the residence clock generally starts from when your permit is issued — which, given long Golden Visa processing queues, can push a passive investor's eligibility date well into the future compared with a D7 holder who is physically resident throughout.
Making the Call
If you have the capital, want to keep living abroad and value optionality over speed, the Golden Visa is designed for you. If you are ready to move, live on income you already receive and want the lower-cost path, the D7 is almost certainly the better fit. The wrong choice is expensive in either money or years, so it is worth having your specific situation assessed rather than deciding from a table alone.
This article is general guidance, not legal, tax or immigration advice. Rules, fees and thresholds change; confirm current details with the Portuguese authorities or a qualified professional before acting.
Frequently Asked Questions
The D7, by a wide margin. It has no large investment requirement — you prove passive income and savings. The Golden Visa needs around €500,000 invested plus significant government and legal fees.
No. You only need to average about 7 days per year. The D7 is the opposite — it requires genuine residence and does not permit long absences.
Yes, on the same timeline: permanent residency after 5 years, and citizenship after 7 years for EU/CPLP nationals or 10 years for others under the law effective 19 May 2026, with an A2 Portuguese exam.
Sources
- https://getgoldenvisa.com/portugal-golden-visa-investment-fund-option
- https://www.globalcitizensolutions.com/portuguese-nationality-law-updates/
- https://movingto.com/pt/portugal-golden-visa-cost
- https://portugal.gov.pt/en/gc25/communication/news/government-increases-minimum-wage-to-920-euros-in-2026
Not sure whether the Golden Visa or D7 fits your situation? Book a consultation with our specialists for a clear, honest recommendation and the roadmap for the right route.