Last Updated on February 5, 2026 by Emily Hopkins
There has been plenty of discussion surrounding the recent changes. Since the law was amended in late 2023, many investors have felt disappointed, assuming their options were limited. However, that is far from the truth. Several attractive opportunities remain available.
Even better, the program still does not impose a strict minimum stay requirement, and you are not obligated to relocate permanently unless you choose to. Read on to learn more about the latest updates and how to qualify for the Portugal Golden Visa!
If you’ve been planning your investment for a while, there are things you should be mindful of. Your plans might need some tweaking according to the current situation. Just as Portugal had to make some changes based on the country’s economic realities.
These changes reflect what serves the country, its people, and the investors who have contributed to Portugal’s growth. The government has reshaped the program to ensure long-term sustainability while continuing to attract serious, value-driven investment.
Now, let’s explore the most compelling investment routes available to help you and your family secure a European passport. Happy reading!
What is the Golden Visa?
The Golden Visa, more commonly known as an investment permit, is a famous residency-by-investment program for individuals who can see the potential in Portugal. From the list of Portuguese Visas, the D7 Retirement Visa and the Golden Visa make it to the top.
Through certain financial investments, it gives foreign investors a chance to become Portuguese citizens. It was launched over a decade ago, keeping in mind the interests of foreign investors and the types of financial gains they seek.
Many retirees choose it as part of their long-term retirement planning strategy. Since its launch in 2012, the Portugal Golden Visa program has gained significant popularity among non-EU/EEA citizens. The program attracts applicants with its wide range of benefits, streamlined application process, and the chance to gain permanent residency and Portuguese citizenship.
And the #1 reason for that is because Portugal is one of the few countries that let you qualify for a Passport in only 5 years, along with the access to live, work, and reside anywhere during those years.
We’ll get into the details of exactly how!
Golden Visa Updates
As mentioned earlier, the regime went through some changes affecting golden visa applications. The most recent Portugal Golden Visa updates state that real estate investments of any kind are no longer valid to qualify for the program.
This represents a major change, particularly because real estate investment was a popular route for many applicants. The update officially eliminates the option to acquire residential or commercial properties to qualify for the Golden Visa, directly affecting those who had planned to apply through real estate investment.
But all is not lost! There are still fantastic options available for investors:
- Capital transfer to investment funds;
- Company creation (along with 5-10 jobs);
- Donation to research activities and art.
Before you pick one, make sure to understand each option clearly. At this point, it would be good to consult professionals who can help you out with personal advice.
Why was this change needed?
You’re probably wondering why certain investment options had to be removed, especially if they were previously so popular and successful.
The main reason for this change is to address the problem in the housing market. Due to an increasing shortage of available residential and commercial properties, there was a need to change policies before real estate realities got worse.
This has subsequently resulted in shifting investments towards other economic and social development factors that are directly linked to the country’s development.
As a result, investors have revised their strategies for the Portugal Golden Visa program to align with the new rules and regulations. This shift encourages diversification in the types of investments attracted to Portugal, with a strong focus on foreign investment to support the country’s economic growth.
Golden Visa 2024 Investment Options
People who seek a visa to Portugal through investment still have several investment opportunities available after the Portugal Golden Visa updates in 2024, including venture capital funds. These funds have become increasingly appealing due to legislative changes encouraging investments in venture capital and other collective investment instruments.
The sole purpose of these revised investment routes, including venture capital funds, is to support the economic growth and innovation sectors within the country.
Critically, as of 2026, all investment routes must comply with the strict “No Real Estate” rule, meaning funds cannot invest in residential property, even indirectly.
Let’s discuss the current best investment options for the Golden Visa in Portugal, focusing on the trend towards diversification among investors!
Investment Funds
Under the amendment law 102/2017, this is one of the most profitable investment options introduced on August 28, 2017.
This option was always available to investors but gained popularity fairly recently. To qualify for this, investors must transfer capital to venture capital or private equity funds worth €500,000 or more.
These funds will be allocated to capitalize registered or recognized companies under Portuguese law. By 2026, regulations require that at least 60% of the fund’s capital be invested in Portuguese-headquartered companies. The investment funds option is better in many ways. Fewer fees and taxes, higher chances of strong annual returns, and most importantly, a secure investment.
However, investors should note that the “NHR” tax status of the past has been replaced by the “Tax Incentive for Scientific Research and Innovation” (IFICI), which is much more selective regarding who qualifies for tax exemptions.
If you’re interested in how to go about this, book a consultation with Viv Europe to get advice from industry experts.
- Read our complete article on Portugal Golden Visa Through Investment Funds Guide.
Company & Job Creation
The next option is to invest in a company. This means you must create a new company and open up employment positions for at least 10 people.
It’s often preferred by entrepreneurial minds familiar with the process of starting a new business. It’s far more complicated than transferring money to an investment fund and letting experts deal with the rest.
Alternatively, you can invest €500,000 into an existing Portuguese company, provided it creates or maintains at least 5 permanent jobs for 3 years.
Investing in a new company can also be highly profitable. Portugal’s strong growth and strategic location make this option promising for returns while supporting the country’s long-term development.
Scientific Research & Donation to Arts
Another opportunity is to invest €500,000 in advancing science and technology. This attracts philosophers, scholars, and other researchers to invest in their passion while benefiting from European residency.
This threshold can be reduced to €400,000 if the research is conducted in a low-density region.
Apart from this, if you’re interested in donating to the preservation of arts, including the maintenance and restoration of Portugal’s national cultural heritage, the amount is reduced to €250,000.
In 2026, this remains the most affordable entry point, with a further reduction to €200,000 for projects in low-density areas.
This donation directly supports the national cultural heritage, with varying thresholds based on location, but keep in mind that this is a donation, and you will not gain financial returns. In this case, the only thing you will receive is residency in Portugal for you and your family, along with the option to qualify for a Passport 5 years later.
While the 5-year timeline remains, a significant 2024 legal change means your 5-year “clock” for citizenship now starts the moment you submit your application, potentially saving years of waiting time.
Nonetheless, this fascinates arts and culture admirers. It’s an innovative way to support the economy by investing in culture and heritage to attract tourists and improve the sector.
- Need more details? Read our comprehensive guide on the Complete Guide to Golden Visa in Portugal in 2024.
Benefits of the Golden Visa
Why does the demand for Portugal’s revamped Golden Visa remain high regardless of these changes?
As per Portugal Resident, “Last year, the Portuguese authorities granted 352 Golden Visas worth €125 million through this route to overseas non-EU citizens.”
In fact, 2024 and 2025 saw record-breaking interest from North American investors, who now represent the largest applicant group, surpassing Chinese nationals for the first time in the program’s history.
Most of this investment was directed toward investment funds and venture capital firms that provide capital. In 2023, these investments rose by 45% compared to 2022, demonstrating that the removal of real estate options had little impact on investors’ overall goals.
Here’s why non-EU investors have faith in the Portugal Golden Visa:
- Residency Rights: Residency is offered to investors and their families. They gain the right to live, work, and study in Portugal. In 2026, the application process is managed by AIMA (the successor to SEF), and while wait times exist, the “waiting time” now officially counts toward your 5-year citizenship clock.
- Minimum Stay Required: Spend only 7 days in Portugal in the first year, 14 days in the second year, and 21 days cumulative in the remaining three years.
- Visa-Free Travel: You can travel freely throughout the Schengen Zone without visa restrictions. After obtaining Portuguese citizenship, your passport provides visa-free or e-visa access to over 190 countries, consistently ranking among the world’s top five most powerful passports.
- Access to World-class Healthcare and Education: You and your family have access to public healthcare and education facilities that are up to European standards.
- Tax Benefits: Potential tax incentives for this type of visa in Portugal. The old NHR (Non-Habitual Resident) regime has been replaced by the “Tax Incentive for Scientific Research and Innovation” (IFICI).
We could go on about Portugal’s quality of life, being the 7th safest country in the world, growing tech community, and so on. But we know your time is worth everything to you. Let’s keep it short and simple – ask industry experts all your questions and start your process today!
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Recent Investments in Portugal
2024 was a record-breaking year with 4,987 Golden Visas granted, as the government worked through the massive backlog.
Not only has Portugal become one of the fastest-growing economies in the EU, but the latest reports have also crowned Lisbon as the new tech capital in Europe. With this title, Lisbon has also received a €1 million award from the European Commission. To top it off, this year’s Web Summit is also being held at Lisbon Altice Arena in November 2024, proving that more success is yet to come!
Firms have also increased investments in Portugal’s agricultural sector. For example, Spanish company Trops invested over €6 million in Tavira, while Aqualvor contributed more than €900k in the Aquamarim project, highlighting numerous opportunities for investors to explore.
As data shows, your investments in investment funds or other companies can mean significant financial returns.
What is the most popular investment for Portugal Golden Visa?
This is definitely an important question to consider. After Portugal’s Golden Visa rules excluded real estate as a qualifying investment, many assumed the program would lose its popularity. But that’s far from the truth.
Undoubtedly, the answer to this question is investment funds. Let’s discuss some specific advantages they offer:
- Following the Portugal Golden Visa updates as of 2024, with the shift away from the option of investing in real estate property, investment funds have emerged as the go-to option. Thus, there’s an opportunity to explore leading investment opportunities in this fast-growing region, including Private Equity, High Yield, and Blue Chip local and global equities.
- Low-Risk Factors: Let professionals manage your funds and investments.
- Enjoy possible passive income.
- Accessible funds, thanks to liquidity.
Non-EU investors view it as a way to build wealth while gaining long-term benefits like a strong passport, family security, and life in a beautiful country.
How long does the Portugal Golden Visa process take?
While the introduction of AIMA (the agency that replaced SEF) aimed to accelerate the process, the high volume of applications means the current timeline for most investors is 12 to 18 months from submission to the first residence card.
The timeline involves the following procedures:
- Initial application;
- Review and approval by the authorities;
- Issuance of the Residence Permit.
Documents needed
Here are the documents you’ll need to initiate your visa application:
- A copy of your Passport;
- Proof of investment;
- Declaration from a Portuguese financial institution confirming your funds;
- Proof of healthcare coverage by NHS in Portugal;
- Criminal record from your residential state;
- AIMA authorizing form;
- Declaration of minimum investment compliance for 5 years;
- A document that outlines a good understanding of Portuguese Taxation, Social Security System, and Customs Authority;
- ARI application payment receipt.
Your documents must be legalized and translated into Portuguese to be considered valid. This is a crucial step, so enlisting the help of experienced consultants is highly recommended.
Fees and other requirements
Lastly, before you seek an appointment for the Portugal Golden Visa, you must fulfill certain requirements.
The two most important things you’ll have to obtain first are your NIF Number and a Portuguese bank account to transfer the funds. If you have any concerns, feel free to reach out to us, and our experts will guide you.
As far as fees are concerned, the government updated the amounts in late 2025. Here is the current 2026 rundown:
| Type | Frequency | Amount |
|---|---|---|
| Processing Fee | At submission and then at each renewal | €605 per applicant |
| Renewal Fee | Every two years | €3,023 per person |
| Legal Consultation Fee | Progress payments | Differs between consultancy firms (€10k – €20k average) |
How can Viv Europe help with the Portugal Golden Visa?
You’re in the right place to get started! Viv Europe is your all-in-one relocation assistance company. With experience helping over 600 families secure visas to Portugal, our experts have the knowledge and tools to make your application a success.
We’re only one call away – book a consultation with Viv Europe and set your application apart from the rest. Start your investment process with guidance from financial experts that align your investments with your financial goals!
Interested in getting more information about the Portugal Golden Visa updates? Join our Facebook Group – All About Portugal For Expats. Ask questions, read stories, and write down your concerns. See you soon!
