Portugal's golden visa today: what's left now property is off the table
The golden visa is still alive, but it isn't the scheme your mate at the golf club used in 2018. Property has gone, the cheapest cash route is now EUR 250,000 into the arts or heritage, and the road to a Portuguese passport is twice as long as it was.
The short version
- Since October 2023, buying property no longer qualifies for Portugal's golden visa, officially the residence permit for investment (ARI) [2].
- The routes left are a EUR 500,000 investment fund, EUR 500,000 into research, EUR 250,000 into arts or heritage, EUR 500,000 into a company with five jobs, or creating 10 jobs [1].
- You only need to spend 7 days in Portugal in the first year and 14 days in each two-year period after that [1][10].
- After five years you can apply for permanent residence [5].
- Since 19 May 2026, Brits need 10 years of legal residence for citizenship, counted from when the permit is granted [3].
Pound conversions use the Bank of England spot rate of 5 November 2026 (£1 = EUR 1.2002).
What happened to the property route
The golden visa started in October 2012 [1], and for a decade most applicants simply bought a flat, often in Lisbon or on the Algarve. Housing pressure in Lisbon made that politically toxic, and Law 56/2023 of 6 October 2023, part of the government's housing package, changed the Foreigners' Law and dropped the real estate options [2].
If you already hold a golden visa through property bought before the change, the general position is that existing permits carry on and can be renewed, but this is exactly where the small print matters. Check your own renewal with AIMA or a Portuguese lawyer rather than relying on what worked for someone else.
The routes that are left
AIMA lists five investment options today [1]:
| Route | Minimum | What it means in practice |
|---|---|---|
| Investment fund | EUR 500,000 (about £417,000) | Units in a Portuguese non-real-estate fund with at least five years to run, investing at least 60% in companies based in Portugal |
| Company with jobs | EUR 500,000 (about £417,000) | Setting up or adding capital to a Portuguese company and creating five permanent jobs, or keeping 10 jobs, for at least three years |
| Scientific research | EUR 500,000 (about £417,000) | Funding research at public or private institutions in the national science system |
| Arts and heritage | EUR 250,000 (about £208,000) | Supporting artistic production or restoring national cultural heritage through approved public bodies and foundations |
| Job creation | No set amount | Creating at least 10 jobs |
For most private Brits this comes down to the fund route. Funds charge fees, lock your money up for years and can lose value, so treat it as an investment first and a visa second. Never let anyone rush you, check that any firm you deal with is properly authorised, and take regulated financial advice. The arts and heritage route is cheaper, but it's a donation-style transfer, not an investment you get back.
How little time you need in Portugal
This is the golden visa's big selling point. Holders must stay in Portugal for at least 7 days in the first year and at least 14 days in each subsequent two-year period, consecutive or not [1][10]. You also don't need a residence visa to enter: golden visa holders enter visa-free and apply in Portugal [1].
That makes it the one route that works for Brits who want a foothold in the EU without moving. A D7 or digital nomad visa expects you to live in Portugal; a golden visa expects you to visit. Between visits, the card lets you travel in the Schengen area without counting days against the 90 in 180 [1][6].
The flip side is that a golden visa on its own doesn't change your tax residence. If you spend a fortnight a year in Lisbon and the rest in Surrey, you're almost certainly still UK resident under the Statutory Residence Test, and you won't be Portuguese tax resident unless you spend more than 183 days in Portugal or keep a home there as your habitual residence [8]. If you do move to Portugal for real, tell HMRC on form P85 or through Self Assessment [9], and a tax adviser who knows both countries can check your case.
Applying, step by step
- Choose your investment and make it from funds transferred from abroad.
- Get a NIF and a Portuguese bank account; you'll need both to invest.
- Pre-register online on AIMA's ARI portal, which AIMA says is mandatory [1].
- Attend AIMA for biometrics, with your passport, proof of legal entry and stay, health cover and proof of the investment [1].
- Renew on time, showing that the investment is still in place and that you've met the minimum stay.
Your family can come too. A family reunification request can be made at the same time as yours, covering a spouse, children under 18, dependent student children up to 25, and dependent parents [1]. That matters more since October 2025, when Law 61/2025 made most residents wait two years before bringing family over, because investment permits are among the exceptions [4].
Expect delays. AIMA inherited a large golden visa backlog from SEF, and long waits between application and card have been widely reported. Keep an eye on the 90/180-day rule while you wait without a card [7].
The road to citizenship got longer
For many people the real prize was a Portuguese, and therefore EU, passport after five years. That's changed.
Lei Orgânica n.º 1/2026, in force since 19 May 2026, raises the residence requirement for naturalisation to 10 years for nationals of countries outside the EU and the Portuguese-speaking CPLP, which includes Brits [3]. It also repealed the 2024 rule that let the clock start from the date you applied for your residence permit [3]. In practice, residence now generally counts from when your permit is granted, so years spent waiting for AIMA no longer count. For golden visa holders, who often waited a long time, that's a double blow.
There's some protection for people already in the queue: applications pending when the law came into force on 19 May 2026 are dealt with under the old rules [3]. On top of the time, the new law asks for knowledge of the Portuguese language and culture, a solemn declaration of adherence to democratic principles, and the means to support yourself [3]. Portuguese citizenship for Brits goes through it in detail.
Permanent residence is still available after five years [5]. For a golden visa holder, AIMA issues a permanent investment permit, and you'll need basic Portuguese [5].
Is it still worth it?
For a Brit who wants to live in Lisbon full-time, rarely. The D7 costs EUR 110 (about £90) in visa fees rather than EUR 250,000-plus, and puts you on the same 10-year citizenship clock. For a wealthy Brit who wants a Plan B in the EU without uprooting, the golden visa still does something no other route does: legal residence for a fortnight a year.
And if you lived in Portugal before 1 January 2021, you probably don't need any of this: you're covered by the Withdrawal Agreement [6]. For war stories from people who've been through the ARI queue, our community group for Brits in Portugal is the place to ask.
Sources
- AIMA: Residence permit for investment (ARI) – Art. 90.º-A (checked 8 November 2026)
- Vistos MNE: National legislation (Law 56/2023 of 6 October)
- Diário da República: Lei Orgânica n.º 1/2026, de 18 de maio
- Diário da República: Lei n.º 61/2025, de 22 de outubro (Article 98) (read 11 November 2026)
- AIMA: Permanent residence permit – Art. 80.º
- GOV.UK (FCDO): Living in Portugal (last updated 10 July 2026)
- GOV.UK (FCDO): Portugal travel advice – entry requirements (updated 11 August 2026)
- Portal das Finanças: Código do IRS, Article 16 (residence)
- GOV.UK (HMRC): Tax if you leave the UK to live abroad
- SEF (now AIMA): ARI renewal requirements, minimum stay (archived 15 December 2023)