Key Takeaways
- Portugal’s Golden Visa grants residency rights in Portugal, plus visa-free travel across the Schengen area for up to 90 days in any 180-day period.
- In 2026, regulated investment funds are the core qualifying route, with a minimum investment of €500,000 that must be held for five years.
- A dedicated Portuguese lawyer, early document preparation, and clear planning for family inclusion make the process smoother and more predictable.
- Portugal remains one of the few European countries offering a path to citizenship through investment without relocation, although new rules now require 10 years of residency before citizenship in most cases.
- For personalized guidance and access to the VIDA Fund, contact VIDA Capital’s advisory team through this form.
Understanding the Portugal Golden Visa: How the Residency Program Works
Key Concepts and Terminology
The Portugal Golden Visa is a residency-by-investment program that grants a temporary residency permit in Portugal. The first permit is valid for 2 years, then you renew it for an additional 2-year period while maintaining the qualifying investment and residency requirements. After 5 years, you can apply for permanent residency.
The permit allows you and your family to live, work, and study in Portugal, and to travel visa-free across the Schengen area for up to 90 days in any 180-day period. Eligible family members include your spouse or partner with legally recognized proof of relationship, economically dependent children who are full-time students, not employed, and unmarried throughout the program, and dependent parents or in-laws who are over 65 or financially dependent on you.
Industry Context and Trends
Portugal redesigned the Golden Visa rules in late 2023, moving away from personal properties and toward regulated investment funds as the primary qualifying route under current rules. Only funds without direct or indirect investments in personal properties now qualify for the Golden Visa, which directs capital toward productive sectors of the economy.
Tourism remains a central pillar of that economy. Investment funds have become the most used pathway for Golden Visa applicants in 2026, helped by the growth of Portugal’s hospitality sector and the appeal of professionally managed, asset-backed investment strategies.
The Investment Fund Pathway: Using Asset-Backed Capital To Qualify
Why Investment Funds Now Lead the Program
Investment funds give Golden Visa applicants a regulated, diversified way to participate in Portugal’s economy. Instead of managing properties directly, investors subscribe to a fund that is managed by professionals, follows CMVM rules, and is structured to meet Golden Visa criteria.
Asset-backed funds, especially those focused on hospitality, hold tangible operating assets that can support capital preservation. These funds buy and transform existing hospitality assets, giving them a second life in line with rising tourism demand and improving the underlying businesses.
Minimum Investment and Fund Requirements
Golden Visa investors must subscribe at least €500,000 into qualifying funds that meet all of the following conditions:
- Government-regulated venture capital or private equity structure supervised by the CMVM.
- Minimum 5-year holding period.
- At least 60% of capital allocated to Portuguese companies.
- No direct or indirect involvement with personal property activities.
The investment must be maintained during the full temporary residency period. You can usually exit after obtaining permanent residency or citizenship, provided you still meet the legal requirements at that time.
Strategic Opportunities with VIDA Capital
VIDA Capital is an advisory firm that connects investors to the VIDA Fund, which focuses on Portugal’s hospitality segment. The fund invests in and transforms underperforming hospitality assets, giving them a second life and targeting improved operating performance while complying with Golden Visa rules. Historical returns are not a guarantee of future returns.
VIDA Capital supports investors with fund selection, coordination with Portuguese lawyers, and practical guidance at each step of the Golden Visa process. This advisory approach helps investors understand both the residency and investment aspects of their decision.
Speak with VIDA Capital about the Portugal Golden Visa and the VIDA Fund.
Your Step-by-Step Portugal Golden Visa Application Process
Phase 1: Pre-Application and Preparation
Strong preparation and legal support form the base of a successful application. A dedicated Portuguese lawyer is essential, as they obtain your NIF tax number, open your Portuguese bank account, and manage all submissions with AIMA, the immigration authority.
Key documents typically include a valid passport, clean criminal record certificates, birth certificates for children, and a marriage certificate or other legally recognized proof of relationship for a spouse or partner. Your lawyer will also confirm that dependent children are full-time students, not employed, and unmarried, and will guide you through the €500,000 subscription into a qualifying fund.
Phase 2: Application Submission and Biometrics
Your lawyer submits the online Golden Visa application for you and each eligible family member. After analysis, AIMA issues a pre-approval and schedules an in-person biometrics appointment in Portugal, where fingerprints and photographs are collected for all applicants.
Once AIMA approves biometrics and documents, you receive a 2-year temporary residency card. The overall process from submission to card issuance usually takes 12 to 18 months. The card grants residency in Portugal and visa-free travel in the Schengen area for up to 90 days in any 180-day period.
Phase 3: Residency Renewals and Ongoing Obligations
You must renew your temporary residency twice during the 5-year period, each time for another 2 years, while keeping the qualifying investment and a clean criminal record. You also need to show that you spent at least 14 days in Portugal during each prior 2-year period. As the approval card issuance usually takes a year, you will most likely only need a single renewal instead of two within the 5-year period.
Phase 4: Permanent Residency and Citizenship Planning
After 5 years of valid temporary residency, you can apply for permanent residency in Portugal, provided you still meet the legal requirements. This gives you stable long-term status in Portugal without further 2-year renewals.
Citizenship rules changed in October 2025. Applicants now generally need 10 years of residency before applying for Portuguese citizenship. Nationals of Portuguese-language countries and EU citizens have a reduced requirement of 7 years. The new framework is expected to apply to Golden Visa holders except for those who submitted their citizenship application before the new law is published. Portugal is still one of the few European countries offering a citizenship route through investment without relocation, while Spain has ended its Golden Visa and Greece requires 7 years of physical residence and tax residency before citizenship. Once you obtain a Portuguese passport, you can live, work, study, and access public healthcare and education across the European Union and Schengen Zone.
Navigating the Costs: Beyond the €500,000 Investment
Government Fees
Government fees sit on top of the investment amount and apply to each family member:
- Initial application submission fee: €618.60, paid on submission.
- Residence card issuance fee: €6,179.40, paid at the biometrics stage.
- Renewal fee: €3,023.20 per renewal, usually needed once because of processing timelines.
- Citizenship application fee: €250, paid when you submit the citizenship request.
Legal Fees
Legal fees vary by firm but usually range from €16,000 to €20,000 for the full Golden Visa journey for a family. This covers strategic advice, document collection, translations, online submissions, ongoing communication with AIMA, and support during renewals and permanent residency.
Fund Subscription Fees
Funds charge their own fees on top of the €500,000 subscription. The VIDA Fund charges a 1% subscription fee on the invested amount. Many funds also apply annual management fees of around 1-2% and performance fees that can reach 20-50% of profits. Your advisor should explain the full fee structure before you invest.
Comparison Table: Golden Visa Program Costs Excluding Investment
|
Expense Category |
Amount (Approx.) |
When Paid |
|
Initial Submission Fee |
€618.60 per family member |
Application submission |
|
Card Issuance Fee |
€6,179.40 per family member |
Biometrics appointment |
|
Renewal Fee |
€3,023.20 per family member |
At renewal, typically once |
|
Legal Services |
€16,000 to €20,000 total |
Per agreement with law firm |
The VIDA Capital Difference: Advisory Support for Your Golden Visa
Personalized Advisory
VIDA Capital assigns each investor a dedicated contact who coordinates with your chosen lawyer and supports you from initial questions through to residency card issuance and renewals. Communication is direct and flexible, with updates shared through email, calls, or messaging, depending on your preference.
Asset-Backed Investment Focus
The VIDA Fund focuses only on Portugal’s hospitality segment and buys existing hospitality assets that can be upgraded and repositioned. The fund gives these assets a second life rather than building from the ground up, aligning with tourism growth and investor demand for tangible asset backing investments. Historical returns are not a guarantee of future returns.
Transparent and Honest Guidance
VIDA Capital outlines the full cost structure of the Golden Visa and the VIDA Fund, including government fees, legal costs, and fund expenses. The advisory team focuses on matching the program to each family’s objectives and time horizons, and clearly explains when the Golden Visa is suitable and when it may not be the right fit.
Contact VIDA Capital to review your Portugal Golden Visa plan and learn more about the VIDA Fund.
Insights from Golden Visa Investors
VIDA Capital clients highlight professionalism, clarity, and ongoing support. VIDA Fund investor Chris Lightbound notes that the team has consistently shown strong professionalism, efficiency, and transparency since early 2023.
Another investor, Eugenio S., values the clear investment thesis and the ecosystem of trusted immigration professionals, describing the experience as more than just an investment and more like a community experience.
Frequently Asked Questions (FAQ) about the Portugal Golden Visa
What is Portugal’s Golden Visa?
Portugal’s Golden Visa is a residency-by-investment program for non-EU nationals. By investing at least €500,000 into a qualifying Portuguese regulated fund, you can obtain temporary residency, then permanent residency after 5 years, and potentially citizenship once you meet the new residency duration rules.
How long does the Portugal Golden Visa process take?
The process usually takes 12 to 18 months from submitting your application until you receive your first residence card. Individual timelines can vary, so working with an experienced lawyer helps you respond quickly to any document or scheduling issues.
Do I need to live full time in Portugal with a Golden Visa?
No. To keep your Golden Visa status, you must spend at least 14 days in Portugal during each 2-year period. Many investors use this as a Plan B and visit Portugal periodically while maintaining their primary residence elsewhere.
Is the Portugal Golden Visa active in 2026?
Yes. In 2026 the program remains open, with regulated investment funds as the qualifying route for new applicants.
What types of investments qualify for the Golden Visa now?
The current rules focus on investments of at least €500,000 into regulated Portuguese funds that have a minimum 5-year term, allocate most of their capital to Portuguese companies, and avoid personal property activities. Many of these funds invest in sectors such as technology, industry, or hospitality.
Conclusion: A Structured Path to Long-Term Residency
The Portugal Golden Visa gives internationally mobile families a structured way to secure residency in Portugal through a regulated €500,000 fund investment. With an experienced lawyer, a clear understanding of costs, and an asset-backed fund strategy, the process becomes manageable and predictable over the usual 12 to 18 month timeline.
Portugal’s combination of low physical presence requirements, a defined path to permanent residency, and the possibility of citizenship without relocation keeps it competitive in Europe, even with the new 10-year residency rule for most citizenship applicants.
