Key Takeaways
- The Portugal Golden Visa requires a minimum €500,000 subscription in qualifying investment funds, and direct investment in personal properties is no longer an eligible route.
- Approved investors receive a 2-year Portuguese residency permit that can be renewed, with a typical 5 year path to permanent residency and a 10 year path to citizenship under the framework approved in 2025.
- Qualifying funds must be CMVM-regulated, closed-end vehicles that invest mainly in Portuguese companies and keep the investment in place for at least 5 years.
- Total costs include government, legal, and fund fees in addition to the €500,000 investment, so planning with specialized legal counsel is essential.
- VIDA Capital provides independent advisory support and access to the VIDA Fund to help investors structure a compliant Portugal Golden Visa strategy; connect with VIDA Capital to discuss your plans.
What is the Portugal Golden Visa Program?
Key Concepts and Terminology
The Portugal Golden Visa is a residency by investment program that attracts non-EU investors and offers Portuguese residency, along with a path to permanent residency and citizenship. Approved applicants receive a temporary residency permit valid for two years, which can then be renewed twice for additional two-year periods. The permit grants the right to live, work, and study in Portugal, and to travel visa-free within the Schengen Area for up to 90 days in any 180 day period.
Portugal’s Parliament approved a new citizenship framework in October 2025 that extended timelines for applicants. Investors now need 10 years of residency before qualifying for citizenship. Nationals of Portuguese language countries (CPLP) and EU citizens have a reduced requirement of seven years. The new law should apply to all Golden Visa applicants except those who had already submitted their citizenship application before the new law was published.
The program’s appeal lies in its minimal physical presence requirement, 14 days in Portugal every two years, which makes it a practical Plan B for families seeking additional security and mobility without relocating. The Golden Visa grants residency rights only in Portugal, while citizenship later provides full EU mobility and settlement rights.
Industry Context and Trends
Portugal continues to rank as one of the safest and most stable countries in Europe, supported by its position as the 7th safest country on the Global Peace Index 2025. Tourism remains a major economic driver, with 31 million visitors in 2024 generating €27 billion in tourism revenue.
Growth prospects look strong. Portugal will co-host the 2030 FIFA World Cup, an event expected to generate more than €800 million in economic impact. Projections from the World Travel & Tourism Council indicate that by 2035, travel and tourism could represent 22.6% of Portugal’s GDP.
Major changes to the Golden Visa took effect in October 2023. Direct investment in personal properties stopped being eligible, and fund investment became the primary route for meeting the minimum investment requirement.
Portugal Golden Visa Minimum Investment Requirements for 2026
Current Minimum Investment Amount (Funds)
The minimum investment for the Portugal Golden Visa fund route is €500,000. This amount must be subscribed into one or more qualifying investment funds and maintained throughout the residency period, which typically covers at least five years.
Qualifying funds must have a maturity of at least five years and invest at least 60% of their portfolio in Portuguese companies. These companies cannot be primarily engaged in activities related to personal properties. The investment must stay in place until the investor completes the residency requirements.
Key Fund Requirements
Eligible Golden Visa funds are CMVM-regulated, closed-end venture capital or private equity vehicles. They invest in corporate equity or similar instruments, for example, in the hospitality sector, rather than directly in activities linked to personal properties. This framework aims to protect investors while channeling capital into productive sectors of the Portuguese economy.
The minimum investment is generally locked for at least five years, and many funds plan a full lifecycle of six to ten years. This timing usually aligns with the five year period required for permanent residency and creates a structured exit for investors.
Strategic Opportunities and Challenges of Fund Investment
Key points to weigh when choosing the fund route include:
- Opportunities: Access to professional management and regulated structures, diversification within specific sectors such as hospitality, and strategies that focus on capital preservation through asset-backed investments.
- Challenges: Subscription, management, and setup fees that reduce net returns, and the need for thorough due diligence on the fund manager, portfolio strategy, and risk profile.
Any historical returns presented by a fund, including the VIDA Fund, do not guarantee future performance. Careful selection is essential to align residency goals with risk tolerance and return expectations.
Practical Frameworks for Selecting a Fund
The €500,000 minimum investment can be split across multiple qualifying funds, as long as the total amount meets or exceeds the threshold. Many investors prefer to work with one or two funds that have clear strategies, transparent fee structures, and a record of regulatory compliance.
Funds that focus on sectors with strong demand, such as Portugal’s hospitality market, can provide a balance between Golden Visa eligibility and capital preservation. Investors should review each fund’s governance, reporting, and exit strategy with their advisor and legal counsel.
Comprehensive Costs Beyond the Minimum Investment
Government Fees
In addition to the €500,000 fund investment, applicants must plan for mandatory government fees for each family member:
- Initial application fee: €618.60 per person
- Card issuance fee: €6,179.40 per person, paid at the biometrics appointment
- First renewal fee: €3,023.20 per person
- Second renewal fee: €3,023.20 per person
- Citizenship application fee: €250 per person, payable after 10 years of residency when applying
Legal Fees
Specialized legal support is essential throughout the process. Law firms typically charge between €16,000 and €20,000, depending on family size and service scope. Lawyers help obtain Portuguese tax numbers, open bank accounts, review fund documentation, and prepare and submit Golden Visa applications.
VIDA Capital can introduce investors to experienced Portuguese law firms that focus on Golden Visa and residency cases.
Fund Subscription Fees
Fund-related costs vary by manager. The VIDA Fund, for example, charges a 1% subscription fee on the invested amount, paid to the fund manager. Investors should also review ongoing management and performance fees across all fund options.
The Portugal Golden Visa Application Process: Step-by-Step Guidance
Pre-Application Essentials
The process starts with selecting a qualified lawyer, which is essential for compliance and risk management. With legal support, investors obtain a Portuguese tax identification number (NIF), open a Portuguese bank account, and complete the €500,000 investment in a qualifying fund.
Lawyers also confirm that the fund structure and documentation satisfy Golden Visa rules, which reduces the risk of delays or rejections later in the process.
Application Submission and Biometrics
After the investment is completed and documented, the legal team submits the online applications for the main applicant and eligible family members. Once the authorities issue a preliminary approval, each applicant attends an in-person biometrics appointment in Portugal to provide fingerprints, photos, and original documents.
Residency Card and Renewals
Approved investors receive a temporary Portuguese residency permit that is valid for two years. As the approval card issuance usually takes a year, you will most likely only need to do a single renewal instead of two in the 5 year period. Each two-year period requires at least 14 days of physical presence in Portugal and evidence that the fund investment remains in place.
Path to Permanent Residency and Citizenship
After five years of maintaining residency, meeting the stay requirements, and keeping the investment, investors can apply for Portuguese permanent residency. Citizenship eligibility now arises after 10 years of residency under the framework approved in 2025. Portugal is currently one of the only European countries that offers a clear path to citizenship for Golden Visa investors without requiring relocation, while Spain has closed its Golden Visa, and Greece generally requires at least seven years of residence and tax residency for citizenship.
The Portugal Golden Visa process, from initial investment to receiving the first residency card, usually spans 12 to 18 months. Golden Visa residency grants rights only in Portugal, but once citizenship is obtained, investors gain full rights to live, work, and study across the European Union and Schengen Area, along with access to public healthcare and education.
Securing Your Portugal Golden Visa Minimum Investment with VIDA Capital
Asset-Backed Security
The VIDA Fund focuses on asset-backed investments in Portugal’s hospitality sector. The fund buys existing hospitality assets and transforms them operationally and physically, giving these properties a second life instead of building new ones. This approach combines exposure to tourism growth with ownership of tangible assets that can support capital preservation.
Any historic performance data for the VIDA Fund is for information only and does not guarantee future returns.
Specialized Hospitality Sector Expertise
Portugal’s hospitality market is fragmented, which creates room for professional operators to improve underperforming assets. The VIDA Fund’s strategy, often described as giving hotels a second life, seeks to upgrade operations, reposition properties, and improve guest experience. This sector focus aligns with the country’s strong tourism fundamentals and Golden Visa fund requirements.
Regulatory Compliance and Auditing
The VIDA Fund operates under the supervision of the Portuguese Securities Market Authority (CMVM) and undergoes bi annual audits by Deloitte. Independent custodians and administrators support fund governance, helping ensure that investment activities and reporting remain transparent and compliant with Golden Visa rules.
Personalized Concierge Advisory
VIDA Capital acts as an advisory firm dedicated to guiding investors through the Golden Visa investment component. The team helps clients understand the minimum investment rules, compare fund options, coordinate with legal partners, and plan family applications in a structured way.
Frequently Asked Questions about the Portugal Golden Visa Minimum Investment
What is the current minimum investment amount for the Portugal Golden Visa?
The current minimum investment for the Portugal Golden Visa through the fund route is €500,000. This amount must be invested in one or more qualifying funds and has become the main path since personal property investments stopped qualifying in October 2023.
Can I diversify my €500,000 minimum investment across multiple funds?
Yes. The €500,000 can be spread across multiple qualifying funds, provided that the combined total meets or exceeds the threshold. This structure allows investors to diversify by strategy, sector, or manager while remaining compliant.
How long must I hold the minimum investment?
The investment must remain in place for at least five years, which matches the minimum period needed to apply for permanent residency. Many funds operate on a six to ten year lifecycle, so investors should review the expected exit timing before subscribing.
What are the additional costs beyond the €500,000 minimum investment?
Additional costs include government fees, which are currently around €12,844 per family member over the full cycle, legal fees that often range from €16,000 to €20,000 depending on family size and complexity, and fund subscription and management fees that typically range between 1% and 3% of the invested amount.
Do I need to relocate to Portugal to maintain my Golden Visa?
No relocation is required. Golden Visa holders must spend at least 14 days in Portugal every two years to keep their residency active. This low physical presence requirement allows investors to maintain their primary base elsewhere while holding Portuguese residency and enjoying visa-free travel within the Schengen Area for short stays.
Conclusion: Your Strategic Path to EU Residency via the Portugal Golden Visa Minimum Investment
The Portugal Golden Visa remains a clear route to Portuguese residency, permanent residency after five years, and potential EU citizenship after 10 years of residency. The €500,000 minimum fund investment is now the central requirement and can be met through well-structured, CMVM-regulated funds that focus on the Portuguese economy instead of personal properties.
VIDA Capital’s advisory services, combined with the asset-backed approach of the VIDA Fund, provide investors with a structured way to meet Golden Visa rules while prioritizing capital preservation. Portugal’s growing hospitality sector, stable legal framework, and low stay requirement offer a practical foundation for long-term residency planning.
