Key Takeaways
- The Portugal Golden Visa offers a pathway to Portuguese residency and, over time, eligibility for EU citizenship, without requiring relocation.
- Since October 2023, personal properties no longer qualify; regulated investment funds are now the primary route for Golden Visa investors.
- The Portugal Golden Visa process usually spans 12 to 18 months, and residency card holders must spend only 14 days in Portugal every two years.
- The path to Portuguese citizenship now takes 10 years of legal residency for most applicants, with reduced timelines for CPLP nationals and EU citizens.
- For tailored guidance on the fund route and residency process, contact VIDA Capital for personalized Golden Visa advisory support.
Understanding the Portugal Golden Visa in 2026
Core Features of the Golden Visa
The Portugal Golden Visa is a residency-by-investment program for non-EU nationals. It grants a temporary Portugal residency card in exchange for a qualifying investment, primarily through regulated funds.
Golden Visa residency gives you and your eligible family the right to live, work, and study in Portugal, along with visa-free travel within the Schengen area for up to 90 days in any 180-day period. Residency rights apply only in Portugal, not across the European Union.
Portugal remains one of the only European countries that offers a path to citizenship through investment without requiring you to relocate, provided you meet the minimal stay requirement of 14 days every two years.
Why Portugal Stands Out for Investors
Portugal ranks as the 7th safest country in the world in the Global Peace Index. The country combines political stability, a high quality of life, and a tourism sector that welcomed a record 31 million visitors in 2024, generating €27 billion in revenue.
Tourism is expected to keep growing, supported by events such as the 2030 FIFA World Cup and projections that it could represent 22.6% of national GDP by 2035. This backdrop supports asset-backed hospitality strategies pursued by many Golden Visa-focused funds.
Why the Fund Route Is Now the Main Path
The October 2023 Shift Away From Personal Properties
In October 2023, Portugal removed personal properties as a qualifying Golden Visa option and redirected the program toward fund-based investments. Regulated investment funds are now the primary path in 2026, with professional managers handling deployment and compliance.
What a Qualifying Fund Investment Looks Like
Qualifying investments require a minimum of €500,000 in Portuguese private equity or venture capital funds supervised by CMVM, the Portuguese Securities Market Authority. Eligible funds must have at least a 5-year maturity and invest at least 60% of their capital in companies headquartered in Portugal. They cannot engage in direct or indirect personal property activities.
Funds can invest in sectors such as energy, industry, technology, and hospitality. This structure spreads risk and aligns investments with Portugal’s economic priorities.
Benefits of Using Funds for Residency
Fund investments remove the burden of sourcing, managing, and exiting individual assets. Investors benefit from professional management, regulatory oversight, and periodic reporting, which can support transparency and risk control.
Asset-backed funds holding tangible hospitality assets can provide additional capital preservation features compared with purely speculative strategies. Historical returns are not a guarantee of future returns, but a clear focus on underlying assets can help support capital protection objectives.
The VIDA Fund as an Asset-Backed Example
The VIDA Fund focuses on Portugal’s hospitality sector and is regulated by CMVM. The fund buys existing hospitality businesses and gives them a second life by transforming and operating them, rather than building new assets.
The team behind the VIDA Fund has collectively managed over €4 billion in assets and has submitted more than 100 Golden Visa applications for VIDA Fund I investors. Historical returns are not a guarantee of future returns, but the fund’s asset-backed strategy and regulatory oversight aim to balance return potential with capital preservation.
How to Start Your Portugal Residency Card Application
Step 1: Prepare With Legal and Financial Foundations
Professional legal counsel is essential. The Golden Visa process involves detailed documentation, regulations, and renewals. A specialized immigration lawyer should guide every stage of your residency card application. VIDA Capital can connect you with experienced Portuguese law firms focused on Golden Visa work.
You then obtain a Portuguese Tax Identification Number (NIF) and open a Portuguese bank account. With legal support, both steps can often be completed remotely while keeping full compliance with banking and tax rules.
After that, you select and subscribe to a qualifying €500,000 fund investment. The VIDA Fund is one example for investors seeking asset-backed exposure to Portugal’s hospitality sector, with a clear structure and professional management. Historical returns are not a guarantee of future returns.
Step 2: Submit Your Application With Lawyer Support
Your lawyer submits the Golden Visa application online to AIMA, covering you and eligible dependents. Family inclusion can extend to spouses, common-law partners with proof of relationship, economically dependent children who are full-time students and not working or married, and dependent parents or in-laws who are either over 65 or financially dependent on the main applicant.
After initial analysis, AIMA schedules biometric appointments for you and your family. The Portugal Golden Visa process usually spans 12 to 18 months from submission to first residency card issuance. 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.
Step 3: Receive and Renew Your Portugal Residency Card
The first Portugal residency card grants a 2-year temporary residence permit. It lets you and your family live, work, and study in Portugal and travel visa-free within Schengen for up to 90 days in any 180-day period.
You must spend at least 14 days in Portugal during each 2-year period. Residency cards are then renewed for further 2-year periods, as long as you maintain the qualifying investment, meet the stay requirement, and present updated criminal records and biometrics.
Step 4: Move From Residency to Permanent Residency and Citizenship
After maintaining temporary residency and meeting presence requirements for 5 years, you can apply for permanent residency. Permanent residency reduces administrative friction and can remove the need to keep the original investment.
Portugal’s Parliament approved a new framework in October 2025 that extended the general citizenship timeline to 10 years of legal residency. Nationals from CPLP countries and EU citizens have a reduced 7-year requirement. The new law should apply to all Golden Visa applicants except those who submitted citizenship applications before its publication.
Portugal is currently one of the only European countries that offers a route to citizenship without relocation. Spain has closed its Golden Visa program, and Greece requires 7 years of living there and paying taxes for long-term residency and citizenship.
|
Stage |
Description |
Key Action |
|
Pre-Application |
Build your legal and financial setup |
Hire lawyer, obtain NIF, open bank account, invest €500,000 in a qualifying fund |
|
Application Submission |
File for the Portugal Golden Visa |
Lawyer submits online application to AIMA |
|
Biometrics & Approval |
Complete in-person checks and receive card |
Attend AIMA biometrics, receive 2-year residency card |
|
Residency Renewals |
Maintain compliant status |
Renew every 2 years and spend at least 14 days in Portugal |
Speak with VIDA Capital about starting your Portugal Golden Visa fund application.
Costs to Plan For in Your Residency Card Journey
Core Investment and Fees
- Fund investment: The minimum contribution is €500,000 in a qualifying fund. You must usually hold this investment for at least 5 years, unless you already obtain permanent residency or citizenship.
- Government fees: Current figures include €618.60 per family member at submission, €6,179.40 per family member for the first card, €3,023.20 per family member at each renewal, and about €250 per person for a citizenship application.
- Legal fees: Specialized Golden Visa legal services typically range from €16,000 to €20,000 per family, depending on complexity and scope.
- Fund subscription fees: The VIDA Fund charges a 1% subscription fee on the invested amount, paid to the fund manager.
VIDA Capital provides detailed cost breakdowns before clients commit, helping investors understand their full financial exposure at each stage.
Strategic Considerations for International Investors
Capital Preservation Through Tangible Assets
The VIDA Fund focuses on buying and transforming existing hospitality properties into higher-performing assets, rather than developing new projects from the ground up. This asset-backed model targets value creation while anchoring investments in real, operating businesses. Historical returns are not a guarantee of future returns, but the focus on tangible assets supports capital preservation objectives.
Using the Golden Visa as a Plan B
The Portugal Golden Visa offers a practical contingency plan. You keep your main base where you live today, meet a 14-day stay requirement in Portugal every two years, and hold a legal right to reside in Portugal if global, political, or personal circumstances change. Travel flexibility within the Schengen area for up to 90 days in any 180-day period adds further mobility without requiring full relocation.
Family Inclusion and Long-Term Security
The program allows you to bring your spouse or partner, dependent children who are full-time students and not working or married, and dependent parents or in-laws. You may present a marriage certificate or other proof of relationship for partners. This structure can help families plan education, career options, and long-term security together in a single framework.
Key Facts About the Golden Visa Fund Route
Minimum Investment Requirement
The minimum qualifying investment is €500,000 in a CMVM-regulated private equity or venture capital fund that respects the 5-year maturity and 60% Portugal allocation rules and avoids personal property activities.
Relocation Expectations
You do not need to relocate to Portugal to keep your Golden Visa. You only need to spend 14 days in Portugal every two years to maintain residency.
Typical Application Timeline
The full process from submission to first residency card usually takes 12 to 18 months. Working with an experienced lawyer helps reduce avoidable delays.
Family Eligibility Rules
Spouses or partners, economically dependent, full-time student children who are not married or working, and dependent parents or in-laws can join one combined application.
VIDA Fund Features
The VIDA Fund provides asset-backed exposure to Portugal’s hospitality sector and is audited bi-annually by Deloitte. Historical returns are not a guarantee of future returns.
Program Status in 2026
The Portugal Golden Visa remains active in 2026, now centered on fund investments rather than personal properties. This structure continues to provide a recognized route to Portuguese residency and, over time, citizenship eligibility.
Residency Versus Citizenship Rights
Golden Visa residency grants the right to live, work, and study in Portugal and travel within Schengen for short stays. After 10 years of Portuguese residency for most applicants, you may become eligible for citizenship and, with it, full rights to live, work, study, and access public services across the EU.
The Role of Legal Counsel
A dedicated immigration lawyer is essential for each step, from investment structuring to application, renewals, and eventual permanent residency or citizenship filings.
Conclusion: Taking the Next Step Toward Portugal Residency
The fund route of the Portugal Golden Visa offers a structured way to secure Portuguese residency, long-term mobility, and a future citizenship option, without disrupting your current base. A regulated, asset-backed fund such as the VIDA Fund can align Golden Visa compliance with capital preservation and income objectives, while historical returns are not a guarantee of future returns.
