Portugal’s Golden Visa now centers on funds and jobs

Portugal’s Golden Visa no longer includes real estate. The program shifted in October 2023 under the Mais Habitação law, which removed property purchases and real-estate-linked fund routes from the residency-by-investment path.

Applicants now have four main options: a €500,000 investment in qualifying venture capital or private equity funds, a €500,000 research transfer, a €250,000 cultural donation or job creation through a Portuguese business. The residency card still requires keeping the investment for five years.

Who can still use the route

Non-EU, non-EEA and non-Swiss nationals 18 and older can still apply if they have a clean criminal record. The permit remains popular with expats who want residency without moving full-time, because it only calls for 14 days of stay in each two-year period.

Tourists aren’t affected. Existing holders who bought property before October 2023 can renew, but new applicants can’t use real estate to qualify.

What applicants need to prepare

The process runs through AIMA, which took over from SEF and applications are filed online. The paperwork includes a passport, proof of investment, healthcare coverage, a recent criminal record and Portuguese tax compliance documents. AIMA says approvals and biometrics typically take 2 to 6 months, then residence cards can take about 4 months more.

Costs add up quickly. Government fees start at €773.74 for processing and €7,730 for issuance, while legal fees can run €15,000 to €20,000 over five years. In April 2026, parliament approved a citizenship bill that would extend the residency wait to 10 years for most applicants, though it hasn’t taken effect yet. Read our full Portugal guide for the complete picture.