2026 investment routes (real estate abolished)
Buying real estate no longer qualifies for the Golden Visa. The 2026 routes are:
- Fund — €500,000: a CMVM-regulated qualifying fund or VC, ≥60% invested in Portuguese companies, with no direct or indirect real-estate exposure. Capital is recoverable on exit (subject to fund performance).
- Cultural donation — €250,000 (€200,000 in low-density areas): support for heritage or the arts. Non-recoverable.
- Scientific research — €500,000: donation to a research institution. Non-recoverable.
- Company / jobs: €500,000 plus 5 jobs, or 10 jobs with no capital minimum.
How to apply: steps, fees & timeline (2026)
The Golden Visa is investment-first: you complete the investment, then apply for residency through AIMA (the agency that replaced SEF). Here's the 2026 path.
Government fees (2026, approximate, per person)
| Fee | Amount |
|---|---|
| Application / processing (per person) | ~€605 |
| Residence permit grant (main applicant) | ~€6,045 |
| Residence permit grant (each dependent) | ~€6,045 |
| Renewal (per person, every 2 years) | ~€3,023 |
These government fees are separate from your investment and from lawyer/advisory fees, and they recur at each renewal. Amounts change periodically — confirm the current schedule at filing. Use the calculator above to see how they stack up against recoverable vs sunk capital.
How long does it take?
Because of AIMA's backlog, in 2026 the full journey from application to first residence card commonly runs 12–18 months (AIMA's administrative review alone is around 6 months, and biometrics scheduling can add several more). Choosing a less-congested regional office and filing a complete, source-of-funds-ready file is the best way to reduce delays.
Documents to prepare
- Valid passport and your Portuguese NIF.
- Proof of the qualifying investment (fund subscription / donation receipt).
- Clear source-of-funds evidence (bank statements, sale/contract documents, tax records).
- Criminal record certificate from your country of residence (apostilled / legalised).
- Proof of health insurance valid in Portugal, and family relationship documents for dependents.
The May 2026 citizenship reform
Parliament approved a revised Nationality Law on 1 April 2026; the President signed it (Lei Orgânica 1/2026) on 3 May 2026.
- Naturalisation extended from 5 years to 10 years for most nationalities, 7 years for EU and CPLP nationals.
- The residency clock now starts from the issuance date of the residence card (a 2024 rule that counted from application date was revoked).
- Applications filed on or before 18 May 2026 keep the prior 5-year regime; later applicants follow the new timeline.
- The Golden Visa residency program itself is unchanged — only the citizenship timeline. Permanent residency at year 5 remains available.
AIMA has yet to publish the updated nationality regulation, and treatment of residency already accrued is contested. Verify with a lawyer.
The year-5 PR strategy
Because permanent residency is still reachable at 5 years and is independent of the longer citizenship clock, a common 2026 plan is: hold the fund to year 5, obtain PR, then redeem the fund to recover your capital while keeping residency rights, and continue toward citizenship at year 10. Stay requirement is light — roughly 7 days per year on average.
Sources and official references: AIMA — Residence permit for investment (ARI / Golden Visa); Lei n.º 56/2023 (which removed real-estate as a qualifying route from October 2023); Lei Orgânica 1/2026 (nationality reform — Parliament approved 1 April 2026, promulgated 3 May 2026), which raised the naturalisation residency requirement to 10 years for most third-country nationals and 7 years for EU/CPLP nationals, with the clock running from the first residence-card issue date. The Golden Visa investment routes themselves (mainly €500,000 qualifying funds) are unchanged by the nationality reform. Government and processing fees are estimates and change periodically; fund performance is not guaranteed and capital is at risk. This is an estimate, not legal, tax, or investment advice. Confirm with a licensed Portuguese immigration lawyer and a regulated fund advisor.