Golden visa for Portugal: Requirements & benefits

Portugal’s Golden Visa in 2026 is very different from what it used to be. It’s no longer about buying a €350,000 apartment in Lisbon to get residency in Europe. After the “Mais Habitação” law, real estate was removed from the program. Eligible investments now include investment funds, cultural donations, scientific research, and job creation.

What hasn’t changed is its appeal. Portugal still offers one of the easiest residency paths in Europe, with only a few days of stay required each year. It can still lead to citizenship, though the process is now longer under the May 2026 nationality law. Since 2012, it has given residency to nearly 13,000 investors and brought in over €7 billion in investment.

This guide explains how the Golden Visa program in Portugal works under the 2026 rules, what types of investments are currently eligible, which requirements must be met, and the full application process.

What Is the Golden Visa in Portugal?

Portugal’s Golden Visa, officially known as the ARI (Residence Permit for Investment Activity), is a residency-by-investment program for non-EU citizens. It offers not only a path to residency but also a gateway to Portugal’s economy and the wider European market.

How does the Portuguese Golden Visa work?

In simple terms, Portugal’s Golden Visa grants residency in exchange for a qualifying investment. Since 2023, buying property is no longer an option. Instead, you can qualify by investing in approved funds, supporting cultural or research projects, or creating jobs in Portugal.

With this permit, you can live, work, and study in Portugal, as well as travel freely within the Schengen Area. If you decide to apply, you’ll need to submit your application through the ARI Portal, which is managed by Portugal’s Agency for Integration, Migration and Asylum (AIMA).

Initial duration of the permit

Once approved, you’ll get a residence permit that’s valid for two years. You can then renew it twice, for another two years each time. That gives you up to six years of residency before you can apply for permanent residency or Portuguese citizenship.

Renewals and maintenance of residency

One of the biggest advantages of the program is its low stay requirement. You only need to spend 7 to 14 days a year in Portugal, depending on your permit, to keep it active and renew it. It’s one of the lowest residency requirements of any investment visa program in Europe.

Since February 16, 2026, you can renew your Golden Visa online through the Renewals Portal, including submitting your documents and paying the fees.

If your application sits inactive for more than six months, it can be marked as abandoned. In that case, you may need to start over with a new application under whatever rules apply at that time.

What are the benefits of the Golden Visa in Portugal?

The biggest benefit of the Golden Visa is that both the main applicant and their family gain the legal right to live in Portugal long-term, as well as to work and study there without needing any additional permits. Portugal also treats unmarried couples and LGBT+ families equally under the program.

But beyond that, the program still stands out for the mix of benefits it offers, keeping Portugal ahead of similar schemes in Europe.

First, it lets you travel without a visa across the Schengen Area, which covers most EU countries and some others. If your passport has travel limits, this alone can be a major advantage.

Another benefit is that you and your family can access Portugal’s education and healthcare systems like other residents. However, it’s common to also have private health insurance at first.

The best part is that after five years of continuous legal residence under the program, you can apply for permanent residency in Portugal. But keep in mind, this doesn’t automatically mean you get citizenship.

Portugal’s new Nationality Law, published on May 18, 2026, changed the rules. You now need 7 years of residence if you’re from the EU or a Portuguese-speaking country, and 10 years if you’re from elsewhere, instead of the previous 5 years.

That’s why it’s important for any investor to clearly separate three key steps: getting the residence permit, applying for permanent residency after five years, and applying for citizenship after seven or ten years, depending on the case.

Who is eligible to apply for the Golden Visa in Portugal?

The program is aimed at non-EU and non-EEA citizens over 18 who are able to make one of the qualifying investments under the current rules.

If you’re an entrepreneur or high earner looking to diversify your assets in the EU, the Golden Visa can be a good option. It’s also useful if you want very low stay requirements compared to other European programs, or if you want your children to study in Europe. It can also work as a backup residency or a way to get more mobility without moving to Portugal right away.

Also, the investment alone doesn’t require you to live in Portugal. Many holders keep their tax and primary residence in their home country, only meeting the minimum physical presence needed to keep the permit active.

Requirements for obtaining the Golden Visa in Portugal

The formal requirements of the program have stayed fairly consistent, even though the regulatory framework has changed significantly since 2023.

The standard documentation needed to begin the process includes:

• A valid passport with at least six months remaining validity.
• Proof of the investment made (bank transfer confirmation, fund subscription agreement, etc.).
• A criminal record certificate from your country of origin and from any country where you have resided in the last five years, with an apostille.
• Private health insurance with coverage in Portugal.
• Proof of address.
• The NIF (Número de Identificação Fiscal) is essential for opening a bank account, making an investment, buying property, or signing any contract in Portugal. It can be obtained at a Portuguese tax office or remotely with the help of a tax representative.
• Receipt for payment of the application fee.

For the application, almost everything can be done remotely, without needing to travel to Portugal until your biometric appointment. On top of that, you’ll also need to add the following documents:

1- Financial requirements

In addition to meeting the minimum investment requirement, you also need to prove the money is legally obtained when you apply for the visa. AIMA and Portuguese banks carry out strict anti–money laundering checks, so you must provide clear proof of where the funds come from.

2- Background checks and security screenings

The criminal record certificate is one of the most important documents in the application. It must be clean and apostilled, and AIMA may request additional checks depending on the applicant’s country of origin. It’s also essential not to have any criminal record in Portugal or pose any risk to public order or national security.

3- Maintenance of the investment

An important point is that you must keep the investment for the full required period, usually five years from the start. If you withdraw it earlier, you could risk your residence permit and future renewals.

4- Requirements during renewals

At each renewal (every two years), you must show that your investment is still active, that you’ve met the minimum physical presence required for that period, and that you still have no relevant criminal record.

Starting in February 2026, the renewal process will be managed online through the Renewal Portal.

5- Requirements based on country of origin

Although Golden Visa eligibility rules are the same for all nationalities, the required documents and their legalization process can vary depending on your country of origin.

What types of investments qualify for the Golden Visa in Portugal?

You might be wondering what investments qualify for this visa. That’s an important question, because this is the key part for any applicant. Your investment choice determines what is allowed under the 2026 rules.

To give you a clear overview before going into each option in detail, here’s a comparison of the pathways currently available. It’s also worth noting that the real estate route, once the most popular option for years, was removed in October 2023 under the Mais Habitação reform (Law 56/2023).

Since then, it’s no longer possible to get the Portuguese Golden Visa by directly buying property. Any offer or advice claiming otherwise is either outdated or simply misleading.

1- Business investment

Funds that were previously invested in Portuguese real estate are no longer eligible after the reform. However, you can still qualify by investing in a Portuguese business, as long as it creates real economic activity and meets the program’s job or capital requirements.

2- Investment in funds

This is now the main and most commonly used route in the program. It requires a minimum investment of about $550,000 in a regulated venture capital fund (FCR, Fundos de Capital de Risco) approved by the Portuguese authorities.

The fund has strict rules. At least 60% of its money must go into Portuguese companies (the “allocation rule”), it must last at least five years, and it cannot invest in residential real estate directly or indirectly. This is to make sure the real estate ban isn’t bypassed.

Keep in mind that these are venture capital funds, so returns are not guaranteed and you could lose some or all of your money. It’s also important to check that the fund is government-approved and has a strong track record, usually with the help of a professional advisor.

3- Job creation

Creating at least 10 jobs in Portugal is an eligible option. There’s no set investment amount, you just need to actually create and prove those jobs.

The Portuguese government prioritizes this type of investment because it has a direct economic impact on the country, in line with the program’s overall goal of encouraging productive investment over purely speculative capital.

4- Other eligible investments

• Donation to artistic or cultural projects: A capital contribution of approximately $270,000 aimed at supporting artistic production or the restoration and preservation of Portugal’s national cultural heritage. This is the lowest minimum investment route in the current program.
• Funding scientific research: A minimum investment of $550,000 directed toward research activities carried out by public or private institutions within Portugal’s national science and technology system.

What taxes must Golden Visa holders pay in Portugal?

The applicable tax regime depends primarily on one factor: how many days a year you spend in Portugal.

1- Tax residency and immigration residency

These are two different things. A Golden Visa doesn’t automatically make you a tax resident in Portugal. If you don’t stay 183 days or more in the country, you’re usually not considered tax resident. In that case, you’re only taxed on income made in Portugal, not worldwide income.

2- Income tax

If you become a tax resident (by staying over 183 days or living there full time), you pay Portuguese tax on your worldwide income, with rates up to 48%. That said, Portugal still offers tax benefits for eligible new residents.

In 2025, Portugal introduced the IFICI (Tax Incentive for Scientific Research and Innovation), also known as NHR 2.0. It offers a flat 20% tax rate on eligible Portuguese-sourced income, along with relief from double taxation on certain types of foreign income.

But it’s only for highly skilled professionals in research and innovation fields. It’s not automatic for Golden Visa holders, you must meet IFICI’s specific requirements.

3- Investment taxes

Income from venture capital funds, like dividends or capital gains, is taxed under special Portuguese rules for this type of investment.

For non-tax residents, capital gains and returns from regulated Portuguese venture capital funds can often benefit from exemptions or reduced tax rates. That said, it’s important to confirm the exact treatment with a tax advisor before investing, since the rules can change.

4- Property taxes

Since you can’t get the Golden Visa through buying property anymore, this doesn’t really apply as it used to. If someone with a Golden Visa still buys property in Portugal, they pay the normal taxes like IMT and IMI, just like any other buyer.

5- Tax considerations to evaluate

You don’t have to register or pay into Portuguese social security just because you hold a Golden Visa. It’s also a good idea to have private health insurance while you live in Portugal on this permit.

Whether you should become a tax resident depends on your situation, so it’s best to get professional advice.

What are the costs associated with the Golden Visa in Portugal?

Beyond the investment itself, there are several additional costs to consider, including government fees, legal support, and ongoing maintenance expenses.

1- Government fees

The program includes mandatory administrative fees charged by AIMA, both for the initial application and for each renewal. These fees are updated from time to time and are now handled online through the ARI Portal and, since 2026, the Renewal Portal.

2- Legal costs

Hiring an immigration lawyer specialized in the ARI program is almost essential, given the complexity of verifying that an investment fund meets current requirements (60% allocation rule, five-year minimum term, and no real estate exposure). Legal fees usually range from about $6,500 to $16,500, depending on the complexity of the case and the firm you choose.

3- Administrative expenses

Document apostille and translation, opening a bank account, obtaining a NIF (if done through a tax representative), and other administrative steps can add roughly another $1,100 to $3,300 to the total process.

4- Renewal costs

Each renewal (every two years) involves paying new government fees, and usually additional legal fees to handle the paperwork, confirm the investment is still in place, and prove the minimum stay requirement has been met.

5- Other related expenses

Private health insurance (which is required), the annual management fees of the chosen investment fund (which vary depending on the fund manager), and travel costs to meet the minimum stay requirement are ongoing expenses that should be planned for from the beginning.

How do I apply for a Golden Visa in Portugal?

The process is divided into five main stages, from selecting the investment to receiving the final residence permit. Understanding them ahead of time helps you plan properly and avoid missing any key steps.

1- Preparing the investment

The first step is choosing your investment route. If you choose funds (the most common option), you need to pick an approved venture capital fund (FCR) that meets all the rules.

It’s essential for an immigration lawyer to check that the fund complies with the core legal requirements: the 60% allocation rule, the minimum five-year term, and the exclusion of residential real estate investments.

2- Gathering documents

At the same time, start collecting all the documents mentioned earlier. Doing it early can speed things up and avoid delays. You should also get your Portuguese NIF, which you need for any official process, and open a bank account to make your investment. Some banks let you do this remotely.

You can learn more here: Best banks in Portugal for foreigners.

3- Submitting the application

Once your investment and documents are ready, you apply through the ARI Portal. You choose your investment route, send the money from your Portuguese bank account, and get written confirmation from the bank and the fund or institution.

4- Review by the authorities

AIMA reviews your application, checks your documents, and schedules biometric appointments for you and your family. In 2025, AIMA worked on reducing delays by improving digital systems and increasing capacity, with the aim of processing remaining cases in 2026. However, timing can still vary depending on workload and case complexity.

Obtaining and renewing the permit

Once approved, you get a two-year residence permit. After that, you must meet the minimum stay requirement and keep your investment to renew it every two years. After five years, you can apply for permanent residency, and later for citizenship after seven or ten years under the 2026 law.

How can I get internet access when I arrive in Portugal?

When you arrive in Portugal to get your NIF, open a bank account, make your investment, or attend your biometric appointment, you’ll need to stay connected from the start. You can use a Holafly eSIM for Portugal, which gives you unlimited data across the country.

If you plan to stay for a while, Holafly’s monthly plans are a better fit. You sign up once and don’t have to worry about renewals or cancellation fees. They also include a global eSIM that works in over 160 countries, which is handy whether you’re living in Portugal long term or just staying long enough to meet the program’s minimum presence requirement.

Another advantage of the plans is Always On, which gives you an extra 1 GB every month. It only kicks in if your 25 GB plan runs out or if you cancel your plan. That way, you always have a backup data connection.

Frequently asked questions about the Portuguese Golden Visa

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Paula Henderson

Spanish-English Translator

Hi! I'm a Spanish-English translator working with Holafly, helping bring travel content to life for curious travelers. As a digital nomad with a passion for exploring, I'm always adding new spots to my bucket list. If you love to travel like me, stick around because you're in the right place to find inspiration for your next trip! ✈️🌍

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