Portugal — the "golden visa" in 2026: who it suits and how the process works

Portugal's "golden visa" is a residence permit in a European Union country obtained through investment, with no obligation to relocate: it is enough to spend an average of 7 days a year in the country. Entry starts at €200,000 (a non-refundable contribution to a cultural project), but the main route is an investment fund from €500,000: that is what the majority of applicants choose. The program is in demand: in 2025 the funds attracted a record €732 million, and the largest number of investors comes from the United States. The key difference from other "golden visas": almost no program obliges you to live in the country, but Portugal is the only one where you can apply for the passport without living there. In the other countries, without actually living there you will get neither permanent residence nor citizenship. There are two serious caveats: the first residence permit card takes from one and a half to three years, and from 2026 you can apply for citizenship after 10 years, not after 5.

Real estate is no longer part of the program

Buying real estate in any form does not qualify for the "golden visa".

Investment options

There are five investment routes.

Capital in a fund is locked for the entire term of the residence permit, usually around 7 years; the fund charges management and performance fees. Choosing a fund to match your goals and your horizon is something we do together.

Who can be included in the application

The main applicant must be over 18, not an EU citizen, with a verified legal source of funds. Along with them, status goes to:

• a spouse or partner;
• children under 18;
• children under 26, if they are in full-time education, unmarried and financially dependent on the applicant;
• parents of the applicant or spouse aged 65 and over (younger if financially dependent).

The migration service takes the background check seriously: criminal record certificates from every country of residence, bank statements, proof of the source of funds. The investment itself must come from abroad. The file is worth treating like a bank compliance review: refusals over opaque money do happen.

How the process works

1. Preparation. You need to obtain a NIF tax number; without residency, an account is opened by the state bank Caixa Geral de Depósitos. Both steps are done remotely by power of attorney in 1–4 weeks.
2. Investment. The transfer of funds, subscription to a fund or a contribution agreement; takes 2–8 weeks.
3. Filing the application online through a licensed lawyer and paying the government fee. Under the new law, the count of qualifying time toward future citizenship runs from the issue of the residence permit card, not from the filing date.
4. Review by the migration service. The longest stage: about a year and a half until being called for biometrics.
5. Biometrics. Only in person in Portugal; appointments for family members may fall on different dates.
6. The first residence permit card arrives 2–5 months after biometrics.

In total, it takes from one and a half to three years to the first card; the spread depends on the queue at the migration service. There is no way to speed the process up: neither lawyers nor extra payments affect how fast the review goes.

What it costs

On top of the investment itself there are mandatory payments for processing the application and issuing the documents; they are paid for each family member and depend on the family composition and age. Add legal support and the fund's fees. We will prepare an exact calculation for your family at a free consultation. If the application is refused, the service fees are not returned.

What the status gives you

• The right to live, work, run a business and study in Portugal — with no obligation to use it.
• Schengen without visas: up to 90 days in every six months.
• Minimal presence: 7 days in the first year and 14 days in each subsequent two-year period.
• The first card is valid for 2 years, after which the status is renewed — provided the investment is maintained.
• Permanent residence after 5 years of legal residence; basic Portuguese will be needed.
• Citizenship after 10 years for everyone except citizens of the EU and the Portuguese-speaking commonwealth countries. Basic Portuguese and a test on knowledge of the country are required.

For those who have filed documents for a residence permit under the "golden visa", the time counting toward citizenship runs only from receiving the first resident card. If the filing took place before the law changed, the time runs from the moment of filing for the first residence permit.

Taxes, in brief

The "golden visa" by itself does not make you a Portuguese tax resident. A tax resident is a person who lives in the country for at least 183 days a year; until then, only income from Portuguese sources is taxed. At the same time, a residence permit does not release you from tax obligations in the country where you actually live. If the family genuinely relocates, the preferential tax regime is available only to specialists in qualified professions (science, IT, teaching, startups), while passive income is taxed on a progressive scale. We go through the tax picture for your case at a consultation.

Downsides and risks

1. Applying for citizenship after 10 years. The "EU passport in 5 years" formula no longer works. A realistic plan: a residence permit now, an application for permanent residence in 5 years, an application for citizenship in 10.
2. The rules change. In recent years the program and the laws connected with it have been amended several times.
3. The money. The contribution to culture is not returned; money in a fund is returnable, but locked up for years and exposed to market risk.
4. Biometrics in person only: the whole family needs to be ready to fly to Portugal on the assigned date, and the date may be different for different family members.

Who it suits and who it does not

It suits: those who need a "plan B" in the European Union without relocating; those who plan to actually move and live in Portugal; families who want to secure their children's right to live and study in Europe; investors ready to put €500,000 into a promising project for a term of around 7 years; those who think in terms of "permanent residence in 5 years" rather than a fast passport.

It does not suit: those who need status quickly; those who were going for citizenship after 5 years; those for whom a non-refundable contribution or a long freeze on capital is a critical part of the budget; those not ready for a transparent check of the source of funds.

What's next

If you want to try Portugal's "golden visa" against your own situation — family composition, budget, plans for permanent residence and citizenship — book a free Migronis consultation: migronis.com/consultation. We will go through your case and tell you whether this is your route or whether it is better to look at other programs.