Golden Visa Spain vs Portugal: Which One to Choose in 2026?

Golden Visa Spain vs Portugal Golden Visa: An Overview

As of April 3, 2025, Spain has officially ended its Golden Visa real estate investment route. The program was introduced in 2013, allowing investors to obtain Spanish residency through pathways outlined in Law 14/2013. However, the option to purchase real estate was eliminated with the introduction of the Organic Law 1/2025.

The main difference is that Portugal’s Golden Visa remains active with lower stay requirements and flexible investment options, while Spain’s Golden Visa has been closed to new applicants, with only active investment routes for residency and limited dual citizenship options.

Here is the current comparison between Portugal Golden Visa vs Spain:

Spain vs Portugal Golden Visa: Investment Options

Portugal’s Golden Visa no longer includes real estate purchases or capital transfers for new applicants. Instead, investors can choose routes, such as cultural donations, business development, or investment in private equity or venture capital funds.

Previously, the minimum investment for real estate via the Portuguese Golden Visa included €500,000, €400,000 in low-density areas in Portugal, or €350,000 in certain cases, like renovations. As part of its Mais Habitação housing policy, the option to purchase real estate has been removed as a qualifying investment route.

Spain’s Golden Visa is mostly closed, except for active business development. For example, new applicants can start a business via the Entrepreneur Visa or business project investment that benefits the Spanish economy. Before it was discontinued, Spain’s Golden Visa had several investment routes, with the €500,000 real estate purchase being the most popular option. Investors could purchase residential or commercial properties and qualify for a permanent residence permit in Spain.

Below, you can see the minimum investment requirements and investment types.

Spain Golden Visa vs Portugal Golden Visa: The Benefits

Both the Spain and Portugal programs offered Golden Visa investors visa-free access within the Schengen Area, the right to live, work, and study in the host country, and the ability to include immediate family members under one application.

Portugal’s Golden Visa continues to stand out due to its minimal physical stay requirement (seven days per year) and various investment options, such as venture or investment funds, business investment, cultural projects, and scientific research. Portugal allows dual citizenship and a clear path to obtain European citizenship, making it especially attractive for global mobility.

While Spain has officially closed its passive Golden Visa routes (real estate and capital transfers), it still provides ongoing benefits to existing holders. Spain allows dual citizenship only in limited cases, primarily for nationals of countries with historical ties to Spain.

Spain vs Portugal Golden Visa: Application Processing Time

Before Spain discontinued its Golden Visa program, the processing time was faster than Portugal. Successful applicants received their approvals in 20 business days, compared to the 18 months or over for Portugal’s Golden Visa.

According to reports from the AIMA (Portugal’s Agency for Integration, Migration, and Asylum), applicants face longer waiting times due to severe backlogs for the Golden Visa program and other types of Portuguese residence permit applications. In 2025, there were 45,000 and 50,000 Golden Visa applications in the backlog.

During the 2026 State Budget hearings, Minister of the Presidency António Leitão Amaro stated that AIMA will resolve the large backlog of Portugal Golden Visa applications in 2026. The goal is to replace the paper-based application system with a digital one.

Below is a Spain vs Portugal processing time comparison table:

⚠️ Portuguese Nationality Law Update: October 2025

On 28 October 2025, Portugal's parliament approved key amendments to the Portuguese Nationality Law. This includes increasing the residency requirements for citizenship from five to ten years - and to seven years for EU citizens and CPLP nationals. This is a significant change that impacts how visa holders and residents can acquire citizenship. 

These changes are not yet law as they need to undergo Presidential review. The President may promulgate the law, issue a veto, or request a review by the Constitutional Court. The final text can still be amended to reflect any transitional provisions or potential grandfathering rules. Changes are not yet in effect, as the law will only become official once it is promulgated.

Read the latest updates on the Portuguese Nationality Law.

Spain vs Portugal Golden Visa: Residency Requirements

The minimum stay requirements with Golden Visa Portugal compared to Spain are vastly different. Portugal requires Golden Visa holders to spend just seven days in the first year and 14 days during each subsequent two-year period. For more information, read our ultimate guide on how to get Portuguese residency.

Spain’s Golden Visa didn’t have a minimum physical stay requirement to maintain residency. However, spending 183 days or more per year in Spain was required to become a tax resident, which was critical for applicants who pursued citizenship.

The table below outlines the general residency requirements in Portugal and Spain, which follow the same pattern.

Spain vs Portugal Golden Visa: Tax Benefits

In 2026, the tax landscape in Portugal differs significantly from that in Spain. Although both countries shifted their strategies to attract skilled professionals and talent, rather than passive investors, they have distinct tax regimes.

Here is an overview of the tax implications in Spain vs Portugal.

Spain

Spain’s special tax regime under the Beckham Law offers strong tax benefits for foreign workers. You pay a flat 24 percent tax on Spanish income up to €600,000. Many types of foreign income aren’t taxed, and you’re exempt from some wealth taxes. The regime lasts up to 6 years.

Portugal

Portugal replaced its Non-Habitual Resident (NHR) regime with the Tax Incentive for Scientific Research and Innovation (IFICI), often called NHR Portugal 2.0. The new incentive targets highly qualified professionals and innovators. It offers a 20 percent flat tax rate on qualifying Portuguese-source income and exemptions on most foreign income. However, foreign pensions are no longer exempt. Under IFICI/NHR 2.0, benefits can apply for up to ten years, making it a strong alternative to Spain’s six-year Beckham regime for skilled workers.

Note: It’s highly recommended to obtain personalized tax advice before you invest and relocate to a foreign country. If you are interested in taxes in Portugal, Goldcrest can introduce you to a local tax advisor.

Spain vs Portugal Golden Visa: Application Costs

Source: Portugal News

Which Golden Visa is better, Spain vs Portugal?

Choose Portugal if you:

• Want a faster citizenship process in the European Union.
• A lower minimum stay requirement.
• Are comfortable with investing in a business through job creation, or prefer investment funds, venture, cultural, or scientific projects.
• Want long-term flexibility.

Choose Spain if you:

• Already live in Spain.
• Don’t mind the longer process for obtaining citizenship.
• Want to apply for a residency visa by starting a business or investing in innovative projects.
• Are a skilled professional, remote worker, or entrepreneur who benefits from the Beckham Law.

Have in mind that Spain’s Golden Visa is closed as a residency by investment (RBI) program, but other pathways to residency still exist, such as via the Entrepreneur Visa, Digital Nomad Visa, and Non-Lucrative Visa. On that note, other Golden Visa countries offer RBI, such as Greece. You can see how Portugal compares with Greece in our comparison guide: Greece vs Portugal Golden Visa.

Goldcrest: How We Can Help You 

Goldcrest is a buyer’s agent that is based in Lisbon. We provide expert, impartial advice on real estate investments and how to buy property in Portugal. From scouting out the perfect property through to property acquisition, we have you covered throughout the process.

If you are looking to purchase property in Portugal, don’t hesitate to get in touch. Our team of skilled experts is available to solve all your real estate doubts, helping you with the property search and offering insightful expertise and strategic advice.

Why choose Goldcrest?

• Local knowledge: With offices located across Portugal, our presence nationwide allows us to assist you personally across the country.
• Independent service: As an independent buying agent, we do not represent any development or project. Our service is entirely tailored toward each individual client, providing you with everything you need to secure the perfect property at the best possible price. As an impartial advisor on the market, we work solely on behalf of our client and provide a service tailored to your needs and requirements.
• Streamlined process: Our real estate agents speak English and Portuguese, and our service is completely focused on providing you with a hassle-free buying experience, saving you time.
• Experienced team: Our expert real estate team has a vast local knowledge of the Portuguese property market. We have cutting-edge technology and metasearch tools at your disposal to provide full market coverage, ensuring the best investment choices and negotiated prices.
• Network of partners: We have a close network of partners, including lawyers, property management services, builders, architects, designers, and landscape gardeners, again saving you time and hassle by providing you with trusted experts in their field of work.