Key Takeaways for Portugal Golden Visa Investors in 2026
- Portugal’s Golden Visa now focuses on CMVM-regulated investment funds as the main qualifying route, with a standard minimum investment of €500,000.
- Direct investments in personal properties is no longer qualify, which has increased the relevance of professionally managed funds structures, particularly those focused on hospitality assets.
- Total costs include government, legal, and fund fees in addition to the €500,000 investment, and the residency process usually spans approximately 12 to 18 months.
- Golden Visa investors gain Portuguese residency and Schengen travel access, while the current framework requires up to 10 years of legal residence before most applicants can pursue Portuguese citizenship.
- VIDA Capital advises investors on fund selection and the Golden Visa process; speak with VIDA Capital about the Portugal Golden Visa before you commit capital.
The Evolving Landscape: Portugal Golden Visa Post-2023 Reforms
Overview of Program Changes
Portugal’s Golden Visa program changed significantly in October 2023. Direct purchases of personal properties no longer qualify, and the framework shifted toward fund-based and other productive investments.
These reforms aim to direct capital toward activities that support long-term economic growth. The shift away from personal properties and the reinforcement of minimum thresholds reflect a more targeted residency-by-investment framework.
Current Eligibility Snapshot
In 2026, the main route for Portugal’s Golden Visa is a minimum investment of €500,000 in eligible, CMVM-regulated investment funds. Investors must hold this investment for at least five years while meeting all residency and renewal requirements.
Discuss a fund-based Portugal Golden Visa strategy with VIDA Capital to align your investment with your risk profile and mobility goals.
Deep Dive into the €500,000 Fund Investment Minimum
Regulatory Framework
The €500,000 minimum for qualifying funds is set in Portugal’s Golden Visa regulations and enforced by the Portuguese Securities Market Authority (CMVM). CMVM supervision helps ensure that eligible funds comply with both financial regulations and immigration rules.
Fund Structure and Requirements
Qualifying funds must be regulated in Portugal, have a clear investment mandate, and meet Golden Visa criteria around capitalization, term, and portfolio composition. Many funds focus on sectors with strong domestic impact, including hospitality, infrastructure, and growth-oriented companies.
Types of Eligible Funds for Portugal Golden Visa
Eligible vehicles include private equity and venture capital-style funds with different risk and return profiles. Hospitality-focused strategies often target undervalued hotels or similar assets that can be repositioned or upgraded, which supports tourism and local employment.
Some funds, including the VIDA Fund, specialize in acquiring and transforming existing hospitality assets in Portugal, giving these properties a second life through renovation, operational upgrades, and professional management.
Beyond the Investment Minimum: Understanding Total Costs for the Portugal Golden Visa
Government Fees
Government fees are a significant component of the overall budget and apply to each family member on the application:
- Initial Golden Visa application fee: €618.60 per person
- Issuance of each initial residency card: €6,179.40 per person
- First residency renewal fee: €3,023.20 per person
- Second residency renewal fee: €3,023.20 per person
- Citizenship application fee (if pursued): €250 per person
These fees cover application handling, biometrics, and card issuance during the initial and renewal stages.
Legal and Advisory Fees
Legal representation is essential throughout the process. Law firms typically charge between €16,000 and €20,000 per family, depending on complexity and family size. Services usually include document review, application preparation, submission, and ongoing compliance support.
Advisory firms such as VIDA Capital coordinate with legal teams and assist with fund analysis and selection. This guidance helps investors align immigration goals with portfolio objectives.
Fund Management Fees and Terms
Each fund has its own fee structure and term. At the VIDA Fund, investors pay a 1% subscription fee on the total amount invested, payable to the fund manager. Ongoing management and performance fees can vary, so investors should review fund documentation and model costs over the full holding period.
Request a personalized cost breakdown for a Portugal Golden Visa strategy from VIDA Capital before finalizing your investment.
Practical Implications for Investors: Navigating the Golden Visa Process
Application Steps and Typical Timeline
The Portugal Golden Visa process usually takes 12 to 18 months from initial preparation to receiving the first residency cards. This includes documentation, investment execution, application submission, and issuance of approval cards.
The first practical steps involve obtaining a Portuguese tax identification number (NIF) and opening a local bank account. A Portuguese lawyer can complete these steps remotely through a power of attorney, which is why legal support is essential from the beginning.
Investors then complete the qualifying fund investment, after which the legal team submits the family’s Golden Visa application. A specialized immigration lawyer helps avoid errors, respond to authorities, and manage renewals.
Residency and Citizenship Requirements
Golden Visa residents must spend at least 14 days in Portugal every two years to maintain their status. The initial residency permit is valid for two years and must then be renewed for two additional two-year periods, while the qualifying investment is maintained.
As the approval card issuance usually takes a year, you will often only need to do a single renewal instead of two in the 5-year period.
Golden Visa residents have the right to live, work, and study in Portugal and can travel visa-free throughout the Schengen area for up to 90 days in any 180-day period. Residency rights apply only in Portugal. Once a Portuguese passport is obtained, holders gain the right to live, work, and study in any EU or Schengen country and access public healthcare and education there.
Under the citizenship rules introduced in October 2025, most applicants must now reside in Portugal for 10 years before they qualify to apply for citizenship. Nationals of Portuguese-language countries (CPLP) and EU citizens have a reduced requirement of seven years. The new law is expected to apply to Golden Visa holders unless their citizenship application was filed before the new rules were published.
Family Inclusion and Eligibility
The Golden Visa allows inclusion of close family members on the main applicant’s file. Eligible dependents usually include:
- A spouse or partner, supported by a marriage certificate or other proof of a long-term relationship
- Children who are under 18, or older children who are full-time students, financially dependent, not employed, and unmarried throughout the program until the Golden Visa application is filed
- Financially dependent parents or in-laws, typically over 65
Benefits of the Portugal Golden Visa
The Portugal Golden Visa offers a combination of lifestyle and mobility benefits. Investors gain Portuguese residency, access to public healthcare and education, and visa-free travel within the Schengen area for short stays.
Portugal is currently one of the only countries in Europe offering a structured path to citizenship without requiring immediate relocation, as long as investors meet residency day-count rules and maintain their investment. Spain no longer offers a Golden Visa, and Greece requires investors to live there and pay taxes for seven years to reach citizenship, while Portugal maintains a 14-days-every-two-years physical presence requirement for residency.
Broader Industry Perspective: Portugal’s Hospitality Sector and Golden Visa Appeal
Economic Context
Portugal’s tourism sector has shown strong performance. In 2024, the country received 31 million visitors and generated €27 billion in tourism revenue. Non-residents accounted for 70.3% of all overnight stays, with 56.4 million stays, a 4.8% increase from the previous year.
Portugal will co-host the 2030 FIFA World Cup, which is projected to generate more than €800 million in economic impact. Projections indicate that travel and tourism could account for about 22.6% of national GDP by 2035, underscoring the strategic importance of hospitality-linked investments strategies.
Investment Opportunity in Hospitality
Portugal’s hospitality market includes many independent properties that can benefit from consolidation and professional management. This environment creates room for funds that acquire underperforming or aging hospitality assets and upgrade them through capital investments and operational improvements.
VIDA Capital advises investors on opportunities in the VIDA Fund, which focuses on buying and transforming undervalued hospitality assets in Portugal and giving them a second life through renovation and repositioning. The fund seeks to combine asset backing with a clear, regulated structure aligned with Golden Visa requirements. Any historical returns are illustrative only and are not a guarantee of future performance.
Connect with VIDA Capital to explore hospitality-focused Golden Visa fund options and how they may fit into your broader portfolio strategy.
Frequently Asked Questions
Minimum investment required for Portugal’s Golden Visa in 2026
The current minimum investment through fund-based routes is €500,000 in one or more eligible CMVM-regulated funds. Investors must keep this investment for at least five years while meeting residency and renewal obligations.
Combining multiple funds to reach €500,000
Some investors structure their €500,000 across more than one qualifying fund. A Portuguese lawyer and advisor should confirm that each selected fund meets Golden Visa criteria and that the combined structure remains fully compliant.
Additional costs beyond the €500,000 investment
Beyond the €500,000, investors should plan for government fees per family member, legal fees that often range from €16,000 to €20,000 per family, and fund-related costs such as subscription and management fees. At the VIDA Fund, for example, the subscription fee is 1% of the total invested amount.
How Portugal’s Golden Visa compares to other European options
Portugal offers one of the more flexible residency-by-investment frameworks in Europe, with a 14-day stay requirement every two years and a route to citizenship without mandatory relocation. Spain has closed its Golden Visa program, and Greece requires long-term residence and tax residency to maintain status and progress to citizenship, which makes Portugal a competitive Plan B jurisdiction for globally mobile families.
Conclusion: Structuring a Portugal Golden Visa Strategy in 2026
The 2026 Portugal Golden Visa landscape centers on fund-based investments of at least €500,000, under a more mature and regulated framework. Understanding government fees, legal and advisory costs, and fund terms is essential for building a realistic budget and timeline.
Portugal continues to offer a competitive combination of residency flexibility, a clear (though now longer) path to citizenship, and exposure to sectors such as hospitality that benefit from strong tourism dynamics. With the right legal team and advisory support, investors can navigate the process with greater clarity and confidence.
Contact VIDA Capital to evaluate whether a Portugal Golden Visa fund investment aligns with your mobility objectives and portfolio strategy.
