In short
Portugal's golden visa (ARI) is still open in 2026, but Law 56/2023 closed the real estate routes and the €1.5 million capital transfer route from 7 October 2023. Five routes remain: €500,000 in qualifying investment funds (non-real-estate, at least 5 years to maturity, 60% invested in Portuguese companies), €500,000 in research, €250,000 in culture or heritage, €500,000 in a company creating 5 jobs, or creating 10 jobs. You must spend 7 days in Portugal in the first year and 14 days in each later 2-year period. The permit lasts 2 years, then 3. AIMA's 2026 fees are €842.80 to analyse and €8,418.90 to issue per person, plus €4,210.30 per renewal. Processing often takes 12–24 months or more. Permanent residence needs 5 years and A2 Portuguese; citizenship now needs 10 years from the permit, and it is unclear whether time already spent counts.
Portugal golden visa: key facts
Last verified 28 September 2026| Golden visa (ARI) | Five routes in 2026: €500,000 in qualifying non-real-estate funds, €500,000 research, €250,000 culture, €500,000 company capital with 5 jobs, or 10 jobs; real estate and €1.5M capital transfer closed since October 2023# Source: Lei 23/2007 consolidated text (PGD Lisboa) art. 3 · Lei 56/2023: Diário da República |
|---|---|
| Golden visa minimum stay | 7 days in the first year and 14 days in each later 2-year period# Source: Global Citizen Solutions: Portugal Golden Visa Oct 2026 |
| Golden visa government fees | Per person in 2026: €842.80 application analysis, €8,418.90 permit issuance, €4,210.30 per renewal# Source: Global Citizen Solutions: Portugal Golden Visa Oct 2026 · Grow in Portugal: AIMA fees 2026 |
| Golden visa processing | Often 12–24 months or more in 2026; the government has said investors are processed after other cases# Source: Grow in Portugal: GV filers face 12-month wait for biometrics (Aug 2026) |
| Permanent residence | After 5 years of temporary residence, with A2 Portuguese, means of support and accommodation# Source: Lei 23/2007 art. 75 (PGD Lisboa) |
| Citizenship | Since 19 May 2026: 10 years of legal residence (7 for EU and Portuguese-speaking countries), counted from when the first permit is issued; applications pending before then keep the old 5-year rule# Source: Lei Organica n.o 1/2026: Diario da Republica · Portugal Citizenship Law Published: LiveinPT |
| Funds and US tax | Portuguese investment funds are PFICs for US investors: Form 8621 each year and punitive default tax unless the fund provides a PFIC statement for a QEF election# Source: IRS Instructions for Form 8621 |
| Income tax | 12.5% to 48% in 2026 (top rate above €86,634), plus a 2.5% / 5% solidarity surcharge above €80,000 / €250,000# Source: PwC Tax Summaries: Portugal individual · CIRS art. 68-A: Portal das Financas |
| IFICI (successor to NHR) | 20% flat tax for 10 years on income from qualifying highly skilled jobs, research and startups, with most foreign income exempt — not pensions; you must not have lived in Portugal in the previous 5 years# Source: Incentivo fiscal a investigacao cientifica e inovacao: AT leaflet · Startup Portugal: Legal Bites #03 IFICI |
| Inheritance | 10% stamp duty on inherited Portuguese assets; spouses, children and parents are exempt# Source: Blevins Franks: Portugal estate planning |
| US tax treaty | Signed 1994, in force since 1996; the saving clause keeps US taxation of citizens# Source: Portugal tax treaty documents: IRS |
| US reporting | FBAR if foreign accounts exceed $10,000 at any time; Form 8938 from $200,000 at year-end ($300,000 at any time) for a single filer living abroad# Source: Comparison of Form 8938 and FBAR: IRS |
Not American?
Canadians, Australians, Brits and other non-EU citizens: the same rules apply
The golden visa is the same for every non-EU investor, so Canadians, Australians, New Zealanders and Brits apply exactly as described here. Only a few points differ:
- Canada
- Australia
- New Zealand
- United Kingdom
- Japan
- South Korea
- + other visa-free countries
| Citizenship | 10 years for Americans and most others; 7 for citizens of Portuguese-speaking countries. |
|---|---|
| Funds and US tax | Americans face PFIC rules on Portuguese funds — other investors usually do not. |
| Family | Golden visa holders are exempt from the 2-year wait for family reunification introduced in 2025. |
| Documents from abroad | Need an apostille; the US, Canada (since 11 Jan 2024), the UK, Australia and NZ issue them.Source: HCCH: Apostille Convention status table |
At a Glance
The Portugal Golden Visa in 2026
The golden visa gives residence to the investor and family with very little time in Portugal, and Schengen travel of up to 90 days in any 180 in other member states. In 2026 its value has changed: citizenship takes 10 years from the permit instead of 5, AIMA's fees rose on 1 March 2026, and the government has said investors are processed after other applicants.
Investment Routes
Portugal Golden Visa: Qualifying Investment Routes
| Route | Minimum | Key conditions |
|---|---|---|
| Investment funds | €500,000 | Non-real-estate funds, at least 5 years to maturity, at least 60% invested in companies based in Portugal; held 5 years |
| Scientific research | €500,000 | Public or private research institutions in the national science system |
| Culture and heritage | €250,000 | Artistic production or restoring national cultural heritage |
| Company capital | €500,000 | New or existing company creating 5 permanent jobs, or keeping 10 jobs for 3 years |
| Job creation | 10 jobs | Creating at least 10 jobs |
Law 23/2007, art. 3, as amended by Law 56/2023. Source: Law 23/2007 (consolidated) · Law 56/2023
Buying real estate (€500,000 or €350,000 for renovation) and transferring €1.5 million of capital no longer qualify. Fund investments may not go into real estate, directly or indirectly. You can still buy a home as an ordinary purchase. Since 25 May 2026 (Decree-Law 97/2026) a buyer who is not tax-resident in Portugal pays a flat 7.5% IMT on a home from the first euro, plus 0.8% stamp duty — it depends on tax residence, not nationality; the extra is refunded if you become Portuguese tax-resident within 2 years, or let the home long-term at a moderate rent (about €2,300 a month) for 36 months within 5 years, claimed within 6 months.
Most Americans choose the fund route — see our golden visa funds guide.
Costs
What the Golden Visa Really Costs
| Government fee (per person, 2026) | Amount |
|---|---|
| Application analysis | €842.80 |
| Permit issuance | €8,418.90 |
| Each renewal | €4,210.30 |
AIMA fee table in force since 1 March 2026. Source: Grow in Portugal: AIMA fees 2026
Over the first 5 years that is about €13,500 per person in AIMA fees — around €40,000 for a family of three — before legal fees and fund costs. Funds typically charge 1.5–2.5% a year in management fees, plus subscription and performance fees.
How It Works
The Portugal Golden Visa Application Process
NIF and bank account
Non-EU residents can get a NIF without a fiscal representative (one is needed once tax activity starts); since July 2025 a lawyer can request it online.
Make the investment
For funds, subscribe and get the fund manager's declaration on maturity and the 60% rule.
Apply online to AIMA
Pay the €842.80 analysis fee per person.
Biometrics
In 2026 appointments often come about 12 months after filing.
Permit issued
Pay €8,418.90 per person; the permit lasts 2 years, then renewals of 3 years.
Permanent residence
After 5 years, with A2 Portuguese and your investment kept.
Before You Apply
What to Know Before You Apply
Citizenship takes 10 years
Since 19 May 2026: 10 years of legal residence (7 for EU and Portuguese-speaking countries), counted from when the first permit is issued; applications pending before then keep the old 5-year rule. Whether golden visa time already accrued counts is not settled.
Long waiting times
Often 12–24 months or more in 2026; the government has said investors are processed after other cases.
US tax on funds
Portuguese investment funds are PFICs for US investors: Form 8621 each year and punitive default tax unless the fund provides a PFIC statement for a QEF election.
Tax residence is separate
You only become tax-resident if you spend 183 days in Portugal or keep a home there as your habitual residence.
Family included
Spouse, minor children, dependent adult children who are single and studying, and dependent parents of you or your spouse.
Comparing EU investor programmes? See our guides to Greece, Italy, Malta and Hungary, or our Golden Visa Calculator.
FAQ
Frequently asked questions
Can I still get a Portugal golden visa through real estate?
No. Real estate and capital transfer routes closed on 7 October 2023. Qualifying funds may not invest in real estate either.
How long until Portuguese citizenship through the golden visa?
Since 19 May 2026, 10 years of legal residence counted from when the permit is issued. It is not yet settled whether time already spent on a golden visa counts.
How long must I stay in Portugal?
7 days in the first year and 14 days in each following 2-year period.
How much are the government fees?
In 2026, €842.80 per person to analyse the application, €8,418.90 per person to issue the permit and €4,210.30 per renewal.
Can I work in the US while holding a Portugal golden visa?
Yes. The golden visa does not require you to live or work in Portugal — only the minimum stays above.
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