Portugal Golden Visa Requirements & 2026 Guide

Key Takeaways

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• The Portugal Golden Visa now requires a minimum €500,000 investment in a qualifying regulated fund, and property ownership is no longer an eligible route for new applicants.
• US investors are among the top applicants, attracted by the program’s low physical presence requirement of just 14 days every two years and its long-term path to Portuguese citizenship.
• Family members, including spouses, children up to age 26 (if enrolled in education), and dependent parents, can be included in a single application following a 2025 constitutional court ruling.
• Asset-backed hospitality funds like the VIDA Fund focus on capital preservation through ownership of tangible Portuguese businesses rather than speculative instruments.
• Contact VIDA Capital today to explore your Portugal Golden Visa options and begin securing EU residency and a pathway to citizenship.

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Golden Visa Investment Rules for 2026

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Portugal removed the property investment option in 2023 under the Mais Habitação legislation, so the fund route now serves as the primary qualifying pathway for new applicants. The minimum threshold is €500,000 invested in a single regulated Portuguese investment fund. Each qualifying fund must deploy at least 60% of its capital in commercial companies headquartered in Portugal, maintain a minimum maturity of five years, and avoid any direct or indirect investment in property.

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The investment must remain in place throughout the five-year residency period. US investors have driven a surge in Golden Visa demand, and Americans now rank among the top applicants globally following Spain’s closure of its own program.

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The VIDA Fund, available through VIDA Capital’s advisory services, acquires and transforms undervalued hospitality operating businesses in Portugal, giving existing assets a second life rather than building from the ground up. This asset-backed approach anchors the fund’s value to tangible hospitality businesses, not speculative instruments. Historical performance is not indicative of future results.

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Speak with VIDA Capital’s advisory team about asset-backed fund options that qualify for the Golden Visa.

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Total Costs Beyond the €500,000 Investment

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Golden Visa investors should plan for government, legal, and fund-related fees in addition to the €500,000 fund investment. Beyond the core investment, applicants should budget for the following costs.

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Government Fees (per family member)

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• Golden Visa application submission: €618.60
• Approval card issuance: €6,179.40
• First renewal: €3,023.20
• Second renewal: €3,023.20
• Citizenship application: €250

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Legal Fees

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• Varies by law firm, typically €16,000–€20,000 for the full process

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Fund Subscription Fee

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• Varies by fund; the VIDA Fund charges a 1% subscription fee on the total amount invested

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Who You Can Include in Your Application

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A Portuguese constitutional court ruling in 2025 preserved full family reunification rights for Golden Visa investors, including spouses, children, and dependent parents. The following family members may be included in a single application.

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• Spouse or long-term partner: Requires a marriage certificate or equivalent proof of relationship.
• Dependent children under 18.
• Unmarried children aged 18–26: Must be enrolled full-time in education and not working. They cannot be married at any point during the residency program, up to the permanent residency application.
• Parents and in-laws: Eligible if over age 65, or financially dependent on the main applicant regardless of age.

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Minimum Stay Requirements for Residency

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Golden Visa holders need only spend 14 days in Portugal every two-year period to maintain their residency status. This rule applies to both the initial two-year card and each subsequent renewal. Every included family member must individually satisfy this requirement.

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This minimal presence obligation makes Portugal one of the most competitive programs in Europe for investors who want a Plan B without relocating. Spain no longer offers a Golden Visa program. Greece requires investors to live there for seven years and pay taxes throughout that period to maintain long-term residency. Portugal’s 14-day rule stands apart from these alternatives.

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Step-by-Step Golden Visa Application Process

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The Portugal Golden Visa process typically spans 12 to 18 months from start to residency card. Independent legal counsel plays a central role at every stage, from obtaining your NIF (tax identification number) and opening a Portuguese bank account, both of which can be done remotely, to submitting your application and attending your biometrics appointment.

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• Pre-application: Begin by engaging a qualified law firm, and VIDA Capital can connect you with trusted, specialized offices. Your lawyer then helps you obtain your NIF and open a Portuguese bank account, which are both prerequisites for transferring funds. Once these steps are complete, you invest €500,000 into a qualifying fund.
• Application submission: Your lawyer submits the application online to AIMA on behalf of you and any included family members.
• Biometrics and card issuance: After AIMA approval, you and your family members attend an in-person appointment for biometric data collection. Your residency card is then issued and remains valid for two years. Because approval and card issuance often take around a year, many investors only complete a single renewal during the five-year period.
• Renewals: Renew every two years, demonstrating continued fund ownership and compliance with the 14-day minimum stay. Your lawyer remains involved throughout this process.
• Permanent residency: After five years, you may apply for permanent residency. At that point, the minimum stay requirement no longer applies, and the investment may be liquidated.

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Citizenship Timing Under the New Law

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Portugal’s updated Nationality Law, effective May 19, 2026, extends the residency requirement for naturalization to 10 years for most applicants, and 7 years for nationals of Portuguese-language countries (CPLP) and EU citizens. The residency clock begins on the date the first residence card is issued, not the application date.

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Applicants who had already submitted a citizenship application before the new law’s publication remain under the previous five-year framework. The new rules apply only to future applicants. Residency rights themselves, including the ability to live, work, and study in Portugal and travel visa-free across the Schengen Area, remain unchanged.

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Once Portuguese citizenship is obtained, passport holders gain full rights to live, work, study, and access public healthcare and education in any EU country.

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How Asset-Backed Hospitality Funds Work

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US investors now constitute the largest group of Golden Visa applicants, and many of them prioritize capital preservation alongside residency. For these investors, the structure of the qualifying fund matters as much as the visa outcome.

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Asset-backed hospitality funds, such as the VIDA Fund, acquire existing hospitality operating businesses and transform them into premium, high-margin assets. Because the fund holds tangible businesses rather than financial instruments, the underlying value is tied to physical assets that carry intrinsic market value. This structure provides a layer of capital protection that equity-based or cash-flow-dependent vehicles do not offer.

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Investors are increasingly prioritizing liquidity and structural flexibility when selecting a qualifying fund, and many now favor open-ended structures for their periodic redemption options. Regardless of structure, any qualifying fund must be regulated, independently audited, and prohibited from investing in property.

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Portugal recorded 31 million visitors in 2024, generating €27 billion in tourism revenue. The hospitality market remains fragmented, with independently owned properties dominating, which creates a consolidation opportunity for specialized operators with the expertise to reposition underperforming assets.

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Risk Checks and Due Diligence for Funds

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Every qualifying fund carries risk, so investors should complete careful due diligence before committing capital. The following points provide a focused checklist.

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• Regulatory compliance: Confirm the fund is authorized by the Portuguese securities regulator, independently audited, and structured to meet Golden Visa eligibility criteria.
• Manager track record: Review the team’s experience in the target asset class, prior deal execution, and assets under management.
• Liquidity: Understand the fund’s lifecycle, redemption terms, and exit provisions. The investment must be maintained for a minimum of five years.
• Operational risk: Recognize that hospitality funds are exposed to tourism cycles, operational execution risk, and macroeconomic conditions.

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Historical performance is not indicative of future results. This article does not constitute investment advice.

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Next Steps Checklist for US Investors

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US investors evaluating the Portugal Golden Visa in 2026 can use the following steps as a practical starting framework. Each step helps move the process from initial eligibility to a complete application.

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• Confirm eligibility: non-EU, non-EEA, non-Swiss citizenship; clean criminal record; no outstanding tax liabilities in Portugal.
• Engage independent legal counsel experienced in Portuguese immigration law.
• Obtain your NIF and open a Portuguese bank account, both of which can be completed remotely with your lawyer.
• Evaluate qualifying funds against your capital preservation, liquidity, and return objectives.
• Confirm family members to be included and gather required documentation, such as proof of relationship and enrollment records for dependent children.
• Invest €500,000 and submit your application through your lawyer.
• Plan at least 14 days in Portugal across each two-year period for yourself and all included family members.

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VIDA Capital’s concierge advisory team guides investors through each of these steps, from fund selection and legal referrals to ongoing support throughout the residency period.

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Start your Golden Visa application with guidance from VIDA Capital’s concierge team.

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Frequently Asked Questions

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Can US citizens still apply for the Portugal Golden Visa in 2026?

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Yes. US citizens remain fully eligible for the Portugal Golden Visa. Americans are currently the largest nationality group applying for the program. The only nationality restrictions apply to EU, EEA, and Swiss citizens, who already hold free movement rights within the EU and do not require the program.

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Is property ownership still a qualifying investment for the Portugal Golden Visa?

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No. Property purchases were removed as a qualifying route in October 2023 under Portugal’s Mais Habitação legislation. The fund investment route, which requires a minimum of €500,000 in a qualifying regulated fund, now serves as the primary pathway for new applicants. Funds that invest directly or indirectly in property are also ineligible.

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How does the 2025 citizenship law change affect my application?

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Portugal’s Parliament approved a new nationality framework in October 2025, but it has not yet entered into force. Under the updated law, most applicants, including Americans, must complete 10 years of legal residence before qualifying for citizenship. Nationals of Portuguese-language countries (CPLP) and EU citizens have a reduced requirement of 7 years. The residency clock starts from the date the first residence card is issued. Applicants who had already submitted a citizenship application before the law’s publication remain under the previous five-year framework.

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What happens to my children’s Golden Visa status as they get older?

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Dependent children between the ages of 18 and 26 can remain on the Golden Visa application provided they are enrolled full-time in education, are not working, and remain unmarried throughout the residency program up to the permanent residency application. Once permanent residency is obtained at the five-year mark, these restrictions no longer apply. Children who no longer meet these criteria during the residency period may need to transition to an independent visa status.

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What makes an asset-backed hospitality fund different from other qualifying funds?

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An asset-backed hospitality fund holds tangible operating businesses, in this case hotels, as the underlying assets. Because these businesses carry intrinsic market value, they can be sold if necessary to recover some or all of the invested capital, which provides a layer of protection that purely financial instruments do not offer. The VIDA Fund specifically acquires undervalued hospitality businesses in Portugal and transforms them through operational improvements and repositioning, rather than building new assets. This owner-operator approach is designed to create value throughout the fund’s lifecycle. As with all investments, returns are not guaranteed and past performance does not predict future results.