The Portugal golden visa still exists in 2026, but the real estate route is gone: the main options now start at €500,000 in a qualifying fund, research or company investment, or €250,000 in arts and heritage, and processing can take one to three years. Citizenship rules are also changing, so the program is slower and less certain than older guides suggest.
Portugal was once the most popular golden visa in Europe because buyers could qualify with a property purchase. That ended for new applicants under Law 56/2023. What remains is a residence permit for people who invest in funds, companies, research, culture or job creation. This guide explains the current routes, fees, minimum stay rules, the long processing queue, the citizenship changes and the mistakes to avoid. The route list, fees and stay rules come from a tax adviser’s page whose latest dated event is April 2026. The citizenship status comes from a page last modified on 15 May 2026, and the processing times and backlog come from a page last updated on 12 October 2026. These are all secondary sources, and two of them disagree with each other on small points, so confirm everything with the Portuguese immigration agency AIMA before you invest. If you are an American planning a move, your passport comes first, and our US passport guide covers how to get or renew one.
Is There a Portugal Golden Visa in 2026?
Yes, but only for non-real-estate investments, and the real estate route was abolished for new applicants. The program is a residence permit, not instant citizenship.
According to the tax adviser page, Law 56/2023 revoked residence permits for real estate investment for new applicants. The old passive capital transfer option is also no longer on AIMA’s list of qualifying routes. A second source adds that a 2022 law had already limited which areas qualified for property, and the 2023 Mais Habitação bill then abolished all real estate routes.
This matters if you saw an older guide that talks about buying an apartment in Lisbon or the Algarve. That advice is out of date. Compare it with the UAE, where property still qualifies, in our UAE golden visa guide. The Portugal program is also a residency route, not direct citizenship by investment.
What Are the Current Investment Routes?
The qualifying routes are job creation, research investment, arts and heritage investment, qualifying funds and company investment. The table shows the amounts.
| Route | Minimum | Main condition |
| Job creation | At least 10 jobs | Jobs created in Portugal |
| Scientific research | €500,000 | Research carried out by eligible Portuguese institutions |
| Arts or heritage | €250,000 | Artistic production or national cultural heritage |
| Investment fund | €500,000 | Non-real-estate fund formed under Portuguese law |
| New company | €500,000 | Five permanent jobs created |
| Existing company | Share capital increase | Five permanent jobs created, or 10 jobs maintained (five permanent) for at least three years |
These figures come from the tax adviser page. A different page, which covers the program history, says the program has granted a golden visa to more than 19,000 main applicants as of 2025, but gives no amounts. Treat any amount that is not on the AIMA site as an estimate.
How Does the Fund Route Work?
The fund route needs at least €500,000 in a non-real-estate fund with a maturity of at least five years, and at least 60 percent of the fund must go to Portuguese commercial companies. It is the route most investors choose.
The tax adviser page gives these rules:
- Minimum investment: €500,000.
- Vehicle: A non-real-estate collective investment fund formed under Portuguese law.
- Maturity: At least five years at the time of investment.
- Allocation: At least 60 percent of the fund’s investments must go to Portuguese commercial companies.
A fund carries market risk. A fund can lose value, and a five-year lock means your money may not be available when you need it. Ask the manager for the regulatory filing, the fund’s investment history and the exit terms before you sign. A visa agent who earns a commission may not mention the risk. If you want a comparison, our Greece golden visa and Italy golden visa guides show how other European programs handle investment amounts.
What Fees and Stay Rules Apply?
The tax adviser page lists a standard application analysis fee of €806.80 and an initial issuance fee of €8,060.20, with lower digital fees, plus a minimum stay of 7 days in the first year. Family members pay the same fees as the main applicant.
The page gives these figures:
- Application analysis: €806.80 standard, or €618.60 through the digital route.
- Initial issuance: €8,060.20 standard, or €6,179.40 digital.
- Renewal: €4,030.90 standard, or €3,090.40 digital.
- First year stay: At least 7 days in Portugal.
- Later renewals: At least 14 days in each two-year renewal period.
- Family members: The same issuance and renewal fees as the main applicant.
The low stay requirement is part of the program’s appeal, but it also means residence does not automatically follow. The page notes that holding a golden visa does not automatically make you a Portuguese tax resident. Tax residency depends on factors such as spending more than 183 days in Portugal in a 12-month period or having a home there that serves as a habitual residence. US citizens should also remember that they remain subject to US tax reporting wherever they live. Speak with a cross-border tax adviser before you move money.
How Long Does Processing Take?
Official decisions are due within 90 days, but real waits run from about 12 months to more than 3 years. Backlog is the biggest complaint.
The tax adviser page gives the official period as 90 days after the in-person filing and notes that actual processing can take longer. A page last updated on 12 October 2026 gives these figures:
- Submission to biometrics: 6 to 24 months, depending on the AIMA office and application date.
- Biometrics to residence card: 6 to 18 months.
- Total: About 12 months to more than 3 years, with some pre-2023 cases waiting three to five years.
- Crowdsourced data: An average of 338 days from application to pre-approval and 277 days from pre-approval to biometrics, from user-submitted data.
- Backlog: A 2024 estimate of over 400,000 applications, about 350,000 of them inherited from the former border agency.
The same page says AIMA announced in late October 2025 that it would resolve all outstanding golden visa applications in 2026. It also notes that the 90 days is described as both calendar days and working days in different places, so the wording is inconsistent. Use the official timeline as a minimum, not a promise, and see our visa processing time calculator for a way to plan around delays.
What Is Changing in the Citizenship Rules?
Parliament re-approved changes in April 2026 that would raise the residence period for most non-EU nationals from 5 to 10 years, but sources disagree on whether the law is in force. Check the current status before you plan.
A page last modified on 15 May 2026 says most non-EU nationals would rise from 5 to 10 years, and EU and CPLP nationals would rise to 7 years. It adds that the clock would start when AIMA issues the residence permit, not when the application is submitted. A civics test may be introduced, but that is not confirmed. The tax adviser page says the amendments are not yet in force, so the five-year rule still applies. The citizenship page says the law awaits formal publication in the official gazette.
Other points from the same sources:
- Pending cases: Applications filed before the law takes effect should be processed under the old rules, but there is no clarity on transitional provisions.
- Court challenge: A challenge by golden visa investors was filed at the Constitutional Court in December 2025 and is unresolved.
- Collective suit: More than 500 holders are reported to be preparing a collective lawsuit.
- Other decree: A decree allowing courts to strip naturalized citizens of nationality after a criminal conviction remains suspended pending a Constitutional Court ruling.
The practical lesson is simple. Do not invest on the assumption that citizenship will take five years. A plan that still works at ten years is safer.
Which People Is the Program Right For?
It suits investors who want an EU residence permit with little time in Portugal, can lock money for five years and can wait a long time for a card. It does not suit someone who needs a quick move.
Ask four questions. Can you accept a fund that may lose money? Can you wait one to three years for the permit? Would a ten-year citizenship timeline still make the plan worthwhile? Can you document the source of your funds? If the answer to any is no, compare other countries. Our Spain golden visa guide explains why that route closed, and the Malta golden visa and Cyprus golden visa guides cover two other European options.
What Documents Should You Prepare?
Prepare your passport, a clean criminal record, proof of the investment and proof of where the money came from. The exact list is set by AIMA.
A typical order of steps looks like this:
- Choose the route and check it is still listed by AIMA.
- Open a Portuguese bank account and arrange the investment.
- Gather your passport, criminal record certificate and source of funds evidence.
- Submit the application through the official digital system.
- Attend the biometrics appointment and wait for the card.
Our visa documents checklist tool helps you keep papers together. If your passport is close to expiry, American applicants can use our passport renewal guide first.
How Do You Spot a Portugal Golden Visa Scam?
Any offer of a Portugal golden visa by property purchase is a warning sign, because that route is closed to new applicants. Always check the route on the AIMA site.
Be careful when a seller:
- Promises a residence permit for an apartment purchase.
- Guarantees a fixed return on a golden visa fund.
- Cannot name the fund manager, the regulator or the maturity date.
- Asks you to transfer money to a personal account.
- Promises citizenship in five years.
Only AIMA decides applications. No agent can guarantee a result, and no fund can guarantee a return.
What Mistakes Cause Problems?
Using old real estate advice, ignoring the processing queue and planning around a five-year citizenship cause most problems. Check each point first.
- Buying property in the belief that it still qualifies.
- Locking money in a fund without reading its exit terms.
- Assuming the 90-day decision period will be met.
- Planning citizenship on the old five-year rule.
- Forgetting that fees are paid per family member.
- Assuming a golden visa makes you a Portuguese tax resident, or the opposite.
- Forgetting US tax reporting duties.
- Relying on secondary sources instead of AIMA.
When unsure, use the official source. For other countries, compare our guides to the Germany golden visa, the UK golden visa, the Canada golden visa and the US golden visa.
FAQs
Is the Portugal golden visa still available?
Yes, but not through real estate. Current routes include funds, research, arts and heritage, company investment and job creation.
How much is the Portugal golden visa in 2026?
A tax adviser page lists €500,000 for qualifying funds and research, and €250,000 for arts and heritage. Confirm with AIMA.
Can I still buy property for a Portugal golden visa?
No. Law 56/2023 revoked residence permits for real estate investment for new applicants, according to a tax adviser page.
How long does the Portugal golden visa take?
The official period is 90 days, but one October 2026 page reports 12 months to more than 3 years in practice.
How long until I can get Portuguese citizenship?
Five years under the old rule. Changes would raise it to 10 years for most non-EU nationals, but sources disagree on whether they are in force.
Do I have to live in Portugal?
No. A tax adviser page lists 7 days in the first year and 14 days in each later two-year period.
Conclusion
The Portugal golden visa is still open, but only through funds, research, arts, heritage or company routes starting at €250,000 to €500,000, and the real estate route is gone. Expect a long queue and prepare for a ten-year citizenship timeline. Check every figure with AIMA, read the fund’s exit terms and avoid any seller who promises a property-based visa or fast citizenship.
