Portugal Golden Visa: Path to Residency & Citizenship

Key Takeaways

• The Portugal Golden Visa grants temporary residency in Portugal, with a path to permanent residency and, later, Portuguese citizenship.
• The program now relies on regulated investment funds, with a minimum investment of €500,000, and no longer accepts personal properties as an eligible route.
• Residents under the Golden Visa can live, work, and study in Portugal and travel visa-free within the Schengen Area for up to 90 days in any 180-day period.
• The full process usually spans 12 to 18 months, and applicants must plan for a 10-year residency in Portugal before applying for citizenship under the 2025 framework.
• VIDA Capital guides investors through the VIDA Fund and the Golden Visa process; you can discuss your case through this direct contact channel.

Understanding the Portugal Golden Visa: Core Program Facts

The Portugal Golden Visa program, launched in 2012, offers non-EU, non-EEA, and non-Swiss nationals a path to temporary residency in Portugal through qualifying investments. This residency can later lead to permanent residency and, subject to legal requirements, Portuguese citizenship.

The Portugal Golden Visa is a residency-by-investment program that requires a minimum investment of €500,000 through eligible funds and grants temporary residency with a route to permanent residency and citizenship. This residency is granted only in Portugal and does not confer residency rights in other EU or Schengen countries, although it allows short-term, visa-free travel within the Schengen Area.

Why Portuguese Residency Remains Attractive in 2026

Portugal offers political stability, legal certainty, and a generally safe environment. The Global Peace Index ranks Portugal among the safest countries worldwide, which appeals to families seeking a long-term contingency plan.

The Golden Visa program also allows investors to maintain residency with limited time in the country, which supports a “Plan B” strategy without full relocation.

Key Benefits for Golden Visa Holders

• Schengen travel: Golden Visa residents can travel visa-free across the 26 Schengen countries for up to 90 days in any 180-day period, while residency rights remain limited to Portugal.
• Family coverage: Spouses or partners (with marriage certificate or other proof of relationship), dependent children, and dependent parents or in-laws can join the same application. Children must be full-time students, not working, and cannot be married at any time while they are included in the Golden Visa residency program.
• Limited stay requirement: Residents usually maintain status by staying in Portugal at least 14 days in each two-year period.
• No mandatory relocation: Golden Visa holders can keep their main life and business elsewhere while maintaining Portuguese residency.
• Path to permanent residency: After five years of legal residency, holders can apply for permanent residency in Portugal if they keep meeting legal requirements.
• Citizenship timeline: Under a framework introduced in October 2025, applicants must reside in Portugal for 10 years before qualifying for citizenship. Nationals of Portuguese-language countries (CPLP) and EU citizens generally face a reduced requirement of seven years. The new law should apply to all Golden Visa applicants except those who already submitted their citizenship application before the new law is published.
• Rights after citizenship: Once naturalized as Portuguese citizens, applicants and their families can live, work, and study in any EU or Schengen state and access public healthcare and education across the European Union.

Portugal Golden Visa Eligibility: Main Requirements

The Portugal Golden Visa program is open to non-EU, non-EEA, and non-Swiss citizens who satisfy nationality, age, criminal, and investment conditions.

• Nationality and age: Applicants must be at least 18 years old and not hold citizenship from an EU, EEA, or Swiss state.
• Clean criminal record: Authorities require a clean criminal record in both the home country and Portugal.
• Investment source: The minimum €500,000 investment must come from outside Portugal.
• Tax number and bank account: Applicants need a Portuguese Tax Identification Number (NIF) and a local bank account to complete the investment.
• Health and character: Authorities may request medical or health declarations confirming the absence of serious communicable diseases.
• Stay requirement: Residents must spend at least 14 days in Portugal during each two-year residency period.
• Tax residency: Golden Visa status alone does not make an applicant a Portuguese tax resident; tax residency usually depends on spending more than 183 days per year in Portugal or having Portugal as the primary home.

You can review your eligibility and investment profile with VIDA Capital’s advisory team.

Golden Visa Investment Route: Regulated Fund Option

Changes implemented in October 2023 set a minimum investment of €500,000 through regulated funds and removed direct personal properties from the list of eligible options.

Qualifying Investment Funds

• Minimum amount: The Golden Visa route through funds requires an investment of at least €500,000 in a regulated venture capital or equity fund.
• Regulation: Funds must be managed by authorized Portuguese entities and registered with the Portuguese securities regulator.
• Current trend: The fund route currently stands as the primary compliant option for investors targeting the Portugal Golden Visa.

VIDA Fund: Asset-Backed Hospitality Investments

The VIDA Fund focuses on acquiring and repositioning hospitality businesses and hotel operating companies in Portugal. The fund acquires existing hospitality businesses and gives them a second life through refurbishment, modern design, and operational improvements, instead of building new assets from the ground up.

This asset-backed approach aims to prioritize capital preservation by relying on tangible hospitality assets in established locations. The strategy seeks to create value through operational efficiency and long-term income potential rather than speculative development. Historical returns for the VIDA Fund have been positive, but historical returns are not a guarantee of future returns.

Fund investors also receive guidance from VIDA Capital on aligning their investment with Golden Visa requirements.

Golden Visa Application Process: Main Steps

The Portugal Golden Visa process usually spans 12 to 18 months and involves several stages. Support from an experienced Portuguese lawyer is essential at each step.

1. Preparation With Legal Support

• Engage a specialized law firm, ideally one with dedicated Golden Visa teams. VIDA Capital can introduce applicants to independent, vetted firms.
• Obtain a Portuguese NIF and open a local bank account, tasks your lawyer can typically complete remotely under power of attorney.
• Select a qualifying fund, review legal documents, and subscribe with the required minimum of €500,000.

2. Online Application Submission

Your lawyer submits the application for you and eligible family members through Portugal’s immigration authority (AIMA). The application includes proof of investment, personal documentation, criminal record certificates, and family relationship evidence, such as marriage certificates or other accepted proof for partners.

3. Biometrics and Initial Residency Card

Once authorities pre-approve the file, they schedule in-person biometrics appointments in Portugal for each applicant. After biometrics collection, you receive a temporary residency permit card valid for two years. When you get your Golden Visa, you receive this temporary residency permit for two years and must then renew it for two additional two-year periods, maintaining your investment and residency requirements throughout the five-year period before applying for permanent residency.

4. Residency Renewal and Minimum Stay

You must renew the residency card for a two-year period and keep the investment and minimum stay in place. Residents typically need to spend at least 14 days in Portugal in each two-year period. 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 five-year period.

5. Permanent Residency After Five Years

After five years of legal residency, you can apply for permanent residency in Portugal if you still meet program conditions. Permanent residency simplifies future renewals and strengthens your long-term status.

6. Citizenship Eligibility After 10 Years

The 2025 framework requires a 10-year residency period in Portugal for most Golden Visa holders before they can apply for citizenship. Applicants must also pass an A2-level Portuguese language test. Nationals of Portuguese-language countries (CPLP) and EU citizens generally qualify after seven years. The new rules should not affect applicants who submit their citizenship request before the publication of the law.

Golden Visa Costs and Fees: Main Budget Items

Total costs include the investment, government fees, legal fees, and fund-related fees.

Government Fees (Indicative)

• Application and issuance fees per family member for the first card.
• Renewal fees per family member for each subsequent residency card.
• Citizenship application fee per applicant at the citizenship stage.

Exact amounts can change, so your lawyer should always confirm current schedules.

Legal and Fund Fees

• Legal fees: Many specialized law firms charge a package fee for the entire family process, often in the mid-five-figure euro range, depending on complexity.
• Fund subscription fees: For the VIDA Fund, there is a 1% subscription fee of the total invested amount, paid to the fund manager.

Portugal Golden Visa Compared With Other European Options

Portugal’s Golden Visa has become distinctive in Europe for allowing a path to citizenship without full relocation during the residency phase. Spain no longer offers a Golden Visa program, and Greece requires long-term physical presence.

Greece and Spain require residents to live in-country to keep long-term residency status. Portugal remains competitive for a “Plan B” because of its limited stay requirement and structured path to citizenship for those who commit to long-term residency, while granting residency rights only in Portugal and short-term, visa-free travel within the Schengen Area.

Portugal Golden Visa FAQs

What is Portugal’s Golden Visa and what does it offer?

Portugal’s Golden Visa is a residency-by-investment program for non-EU, non-EEA, and non-Swiss nationals who invest at least €500,000 in qualifying regulated funds. It grants temporary residency in Portugal, with the possibility to apply for permanent residency after five years and, subject to meeting the legal requirements, Portuguese citizenship after a longer residency period.

How long does the Portugal Golden Visa process take?

The full process from initial preparation to receiving your first residency card usually spans 12 to 18 months. Working with a specialized Portuguese lawyer is essential to manage documentation, coordinate with authorities, and keep your application on track.

Do I need to live in Portugal full-time to keep my Golden Visa?

No. Golden Visa holders generally maintain their residency status by spending at least 14 days in Portugal during each two-year residency period. The Golden Visa grants residency rights in Portugal only, but it also allows visa-free travel across the Schengen Area for up to 90 days in any 180-day period.

Who can I include in my Golden Visa application?

You can usually include:

• Your spouse or long-term partner, supported by a marriage certificate or other accepted proof of relationship.
• Economically dependent children who are full-time students, not working, and unmarried, while they are part of the Golden Visa residency program.
• Economically dependent parents and parents-in-law, typically over 65 or demonstrably financially dependent on the main applicant.

When can I apply for permanent residency and citizenship?

After five years of legal residency in Portugal under the Golden Visa, you may apply for permanent residency if you continue to meet the program’s investment and stay requirements. Under the framework introduced in October 2025, most applicants become eligible to apply for citizenship after 10 years of residency in Portugal, subject to passing an A2 Portuguese language test. Nationals of Portuguese-language countries (CPLP) and EU citizens generally benefit from a reduced seven-year residency requirement.

What is the minimum investment, and which route is currently available?

The current primary route for the Portugal Golden Visa is an investment of at least €500,000 into a qualifying regulated investment fund. These funds must be managed by authorized entities and registered with the Portuguese securities regulator.

How is the VIDA Fund different from other qualifying funds?

The VIDA Fund is a private equity fund that focuses on acquiring and transforming hospitality businesses and hotel operating companies in Portugal, giving these assets a “second life” through refurbishment and operational improvements. This asset-backed strategy aims to prioritize capital preservation while seeking attractive returns. Historical returns for the VIDA Fund have been positive, but historical returns are not a guarantee of future returns.

How does VIDA Capital support me throughout the Golden Visa process?

VIDA Capital acts as an advisory firm, helping you evaluate whether the Portugal Golden Visa aligns with your goals, guiding you through the VIDA Fund subscription, and coordinating closely with your chosen legal team (or introducing you to vetted specialist law firms). This concierge-style support is designed to simplify both the investment decision and the immigration process.

Will the Golden Visa automatically make me a Portuguese tax resident?

No. Holding a Golden Visa on its own does not make you a Portuguese tax resident. In general, tax residency depends on factors such as spending more than 183 days per year in Portugal or having your primary home there. Your legal and tax advisers can help you assess your specific situation.

Conclusion: Planning a Long-Term Strategy With the Portugal Golden Visa

The Portugal Golden Visa offers a structured route to Portuguese residency, permanent residency, and eventually citizenship for those who commit to the required timelines. The program’s limited stay requirements and fund-based structure make it suitable for investors seeking a flexible yet serious “Plan B” in the European Union.

A regulated, asset-backed fund such as the VIDA Fund can serve as the core of this strategy, while experienced legal and advisory partners reduce complexity along the way. You can speak with VIDA Capital to review your options and understand how a fund investment may fit your Golden Visa plan.