Portugal golden visa 2026 requirements: new 250k route

Half the price, twice the scrutiny: on November 6, 2026, Portugal's governing parties filed a budget amendment that opens a €250,000 golden visa route through social projects and closes an easy shortcut for funds. Parliament votes between November 18 and 24.

In detail

The cheapest golden visa in the European Union may appear in Portugal as early as January 2027. On November 6, 2026, the last day for amendments to the 2027 State Budget, the two parties in government, the Social Democratic Party (PSD) and the People's Party (CDS-PP), proposed a new route: €250,000 ($280,350 at the European Central Bank rate of 1.1214 dollars to the euro) for social projects. At the same time, they want to tighten the most popular option, a €500,000 investment in a fund.

In short, the door gets cheaper and the rules for big money get stricter. Here is what was proposed, who benefits, and whether it makes sense to file before the year ends.

What did Portugal's parliament propose?

Twenty-one deputies signed the amendment, led by PSD parliamentary leader Hugo Soares and CDS-PP deputy Paulo Núncio. It is not a standalone law but a change to the budget bill: if the budget passes, the new golden visa rules can take effect with it, usually on January 1.

Portugal's golden visa is officially called ARI (Autorização de Residência para Investimento, or residence permit for investment). It is a five-year path to permanent residence that asks you to spend just 7 days in the country in the first year and 14 days in each following two-year period. Real estate was dropped as a qualifying investment in October 2023, and since then the market has run mostly on funds.

The explanatory note is blunt: investor money should actually capitalize Portuguese companies. Translated from political language, the state wants €500,000 to reach businesses, not sit in shares bought on a stock exchange.

What changes for golden visa funds?

Today, an investor qualifies by putting €500,000 into units of a Portuguese fund that does not invest in real estate and holds at least 60% of its assets in companies headquartered in Portugal. The amendment raises that share to 80% and adds a condition: the money must reach those companies through an increase in their share capital.

The difference matters. When a fund buys shares on the stock exchange, the cash goes to the previous shareholder and the company gets nothing. When a fund joins a capital increase, the company issues new shares and receives fresh money to grow.

The text says nothing directly about open-ended funds (where units can be redeemed at any time). But such funds usually keep part of their money in listed securities to pay out exiting investors. Under the new wording, those securities would apparently no longer count toward the quota. Closed-ended funds with a fixed term have an easier time adapting, since they often take stakes in companies directly.

The practical takeaway: if you are choosing a fund now, check not only returns and term but also how it builds its Portuguese portfolio. A fund that passes the 60% rule today may not work for new applicants tomorrow.

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What is the new €250,000 social route?

This is the headline for anyone who finds €500,000 out of reach. The amendment creates a €250,000 route for building or restoring social care facilities for children and young people, the elderly, people with disabilities, and centers that integrate foreign residents and people under international protection.

One key detail: this is a contribution, not an investment, and the money does not come back. It flows through a closed list of recipients: public bodies, public-utility foundations, misericórdias (Santa Casa da Misericórdia, Portugal's centuries-old charitable brotherhoods that run hospitals and care homes) and similar institutions. There is no return, but there is also no risk of a fund losing value over five years.

Research gets cheaper too. The minimum for transfers to scientific institutions falls from €500,000 to €250,000. Together with the cultural route, which already costs €250,000, Portugal would have three golden visa options at a quarter of a million.

Which Portugal golden visa options will exist in 2027?

We cover each route and how to choose a fund on our page about residence by investment. If you would rather build your own business, see the Portugal startup visa and company registration.

Will the amendment pass, and when?

This is where the arithmetic starts. PSD holds 89 seats in parliament and CDS-PP two. Together that is 91 of 230, while a majority needs 116. The government cannot pass the amendment on its own votes.

But the budget already cleared its first reading on October 28, 2026: the Socialist Party (PS, 58 seats) abstained, while the right-wing Chega (60 seats) voted against. If the Socialists abstain again, the amendment passes on the governing coalition's votes alone. Chega has not been hostile to the program before: in 2022 it voted against abolishing golden visas and proposed widening them.

The Socialists filed their own package: they want to scrap IFICI (Incentivo Fiscal à Investigação Científica e Inovação, a tax regime for researchers and skilled professionals with a flat 20% rate) and commission a study of the golden visa's effects. For tax regimes available to new residents, see taxes in Portugal.

The calendar: budget committee votes run from November 18 to 23, and the final budget vote is on November 24, 2026. The amendment text can still change before then.

What should you do if you have applied or plan to apply?

• Already filed. The amendment protects you: pending applications are assessed under the rules on the filing date. Your fund under the 60% rule still counts.
• Money in a fund, application not yet filed. This is the most exposed group. If the new rules take effect on January 1, 2027, the window is about six weeks. Filing before year-end makes sense, but only with a complete file.
• Still choosing a route. If your budget is limited, wait for the November 24 result: the €250,000 option may beat a €500,000 fund. If you want returns and your capital back, pick a fund that already invests through company capital.
• Renewing your card. Renewals run online through the portal of the AIMA migration agency, and the amendment does not affect them.

Transfer speed matters too: Portuguese banks check the source of funds, and that takes weeks. We explain how to prepare in our guide on how to send money to Portugal.

How long does it take, and what about citizenship?

The amendment changes the price of entry, not the speed. New 2026 applications take about 14 to 18 months to the first card, and the agency says it will clear the old backlog in 2027. More on timelines in our article on Portugal golden visa processing time.

Citizenship is stricter than it was five years ago: since May 19, 2026, most foreigners need 10 years to naturalize, counted from the first card. We break down what that means in our article on Portugal's new citizenship law. If you plan to actually live in the country, cheaper options exist: a Portugal residence permit based on income and the digital nomad visa.

What are the alternatives to Portugal?

Golden visas across Europe are shrinking: Hungary has proposed closing its program from 2027, as we covered in our piece on the Hungary golden visa. Greece decides faster, but its real estate thresholds are higher and permits are being revoked over hidden rebates and short-term rentals; see Greece residence by investment. If the goal is a second passport right away, compare Turkish citizenship by investment and Malta citizenship. For the big picture, read our overview of golden visas in Europe.

Our Portugal golden visa services

We guide investors from choosing a route to the residence card, and we are tracking this amendment through the final vote.

We also handle the side steps: the NIF (Número de Identificação Fiscal, Portugal's tax number, without which no bank opens an account), a bank account, and housing in Lisbon and other cities. For a country overview, see Portugal.

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