Lourenço Álvares Updated: November 5, 2025
If you are wondering, “Does Portugal still have a Golden Visa? ” Technically, yes, but with different requirements.
While the Portugal Golden Visa program hasn’t entirely ended, the most popular option, real estate investment, was suspended and is no longer available for new applicants in Portugal.
Since its launch in October 2012, the Golden Visa has attracted numerous non-EU citizens seeking residency in exchange for boosting the local economy.
But, on 7 October 2023, everything changed when the real estate investment route was taken out. In this article, we’ll provide you with the latest information on the Portugal Golden Visa and its implications for future investors.
⚠️ 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 Portugeuse Nationality Law.
The Portugal Golden Visa Has Not Ended
Is the Portugal Golden Visa ending? Well, no. The Portugal Golden Visa program is not ending and has not been suspended. However, there were important modifications to the program.
The new legislation, the Mais Habitaçao (More Housing) Bill, came into force in October 2023. Under this, the Portuguese government removed real estate purchases, the capital transfer option, and fund investments directly or indirectly linked to real estate as eligible investment options for the Golden Visa. Portugal Golden Visa real estate changes include property investments in the Azores and the Madeira Golden Visa. The capital transfer option is also no longer available.
Below is information on the Mais Habitaçao Bill before we delve into the available Portuguese Golden Visa investment options.
Portugal Golden Visa Changes: The Mais Habitação Bill
The Portuguese government announced on 16 February 2023 that a set of measures would be introduced to tackle the housing issue in the country. The Portuguese Prime Minister António Costa stated that there would be changes to the Golden Visa program as part of these efforts.
As of 19 July 2023, the Mais Habitação Bill, significantly affecting the Golden Visa program, was approved by the Portuguese Parliament. This Bill marks the end of the real estate investment avenues within the Golden Visa program.
Subsequently, on 21 August 2023, Portuguese President Marcelo Rebelo de Sousa vetoed the Mais Habitação Bill after careful consideration and thorough argumentation. The Bill was returned to Parliament for reevaluation based on the issues raised by the President.
On 7 October 2023, the Mais Habitação Bill officially came into effect, incorporating various measures to combat the housing crisis in Portugal. The Portugal Golden Visa changes the Bill put into place makes investments under the real estate categories of the Golden Visa Program no longer possible and capital transfer investments no longer eligible.
However, Portugal still has a Golden Visa.
Portugal Golden Visa Investment Routes that are No Longer Available
As we’ve mentioned, in October 2023, Portugal’s Golden Visa changes came into force under the Mais Habitção (More Housing) Bill. The aim was to increase Portugal’s housing supply for rentals, combat real estate speculation, and restrict rent increases.
- Real estate investment: Acquiring a real estate property with a value of €500,000 or higher is no longer available for investors.
- Investing in rehabilitating Portugal Golden Visa properties that are at least 30 years old, with a total investment of €350,000 or more, is no longer an option.
- Investing in property in Portugal low-density areas, €400,000 or €280,000, is no longer possible.
- Investing in Golden Visa investment funds in Portugal that have direct or indirect links to property investments
- Capital transfers over €1,500,000 or more are no longer accepted.
The investment fund route has proved to be increasingly popular. Find out more about in our article: Portugal Golden Visa Investment Fund Option: The Complete Guide.
Current Portugal Golden Visa 2025 Investment Options
Although the popular real estate investment route has ended, the overall Portugal Golden Visa program is not completely suspended, meaning you can still qualify through fund or cultural investments.
Here are the new rules for the current investment options:
- Fund subscription: Make a contribution to a qualified investment fund worth at least €500,000
- Artistic production or reconstruction of national heritage: Make an investment of at least €250,000
- Scientific research activities: Science or Technology research contribution of at least €500,000
- Creation of jobs: Creation and maintenance of ten jobs during the required period
- Share capital and job creation: Incorporation of a company or reinforcement of a company’s share capital, in either case with an investment of €500,000, combined with the creation of five or maintaining ten jobs (five of them permanent)
If you are interested in the Golden Visa Program, our residency and citizenship division, Global Citizen Solutions, would be happy to discuss your options with you.
Social Investor Visa Portugal
The introduction of a new Portugal Solidarity Visa, also known as the Social Golden Visa, is part of the Portuguese government’s “Action Plan for Migration”.
The Solidarity Visa aims to funnel private capital into social investment and immigration integration projects, including infrastructure, integration projects, and support for vulnerable immigrants.
The final touches to this investment route are still pending government confirmation. The expected minimum investment is a €250,000 donation with funds needing to be directed towards social projects that develop affordable housing.
This aims to support the government’s initiatives in alleviating housing pressures, high property prices, and promoting inclusivity while ensuring the program aligns with Portugal’s broader economic goals. The minimum duration has yet to be specified, but it is likely to be connected to the five-year residency period required for permanent residency or Portuguese citizenship.
This move by the Portuguese government is not in isolation, with there being 41 measures presented in total in the governments new plan for migration.
Are previous Portugal Golden Visa applicants affected?
The changes do not affect existing Golden Visa holders or their applications. In addition to the Portugal Golden Visa changes in investment options, the main consequences of this legislation encompass the Portugal Golden Visa requirements.
- Pending Golen Visa applications with AIMA (Agency for Integration, Migration, and Asylum) will be evaluated in accordance with the laws in place at the time of their submission.
- The minimum residency requirement to maintain residence permits – an average of seven days a year – remains unchanged.
- The renewal process for residence permits will continue to adhere to the original regulations.
- Family reunification conditions for dependents remain unchanged.
- Investment routes tied to real estate acquisition and capital transfers will no longer be considered qualifying investments.
- The law took effect on 7 October, the day following its official publication in the Diario da Republica.
Ensuring a Smooth Portugal Golden Visa 2025 Process
We recommend working with a law firm to assist you with your Golden Visa application. They will be able to assist you with information on the documents that you will need to present, plus guide you through the Portugal Golden Visa 2025 application process, the required documentation, and help you complete the Portugal Golden Visa application form.
They will also be able to make sure you understand the Portugal Golden Visa fees and costs to take into consideration, including adding in dependents to your application, and walk you through time considerations, such as the Portugal Golden Visa processing time.
Although there are no Golden Visa Portugal tax benefits specifically, if you choose to work with residency and citizenship experts, they will be able to advise you on how you can optimize your tax affairs in Portugal.
Our residency and citizenship division, Global Citizen Solutions, is a member of the US-Portugal and UK-Portugal Chamber of Commerce in Portugal and the Investment Migration Council (IMC). They would be more than happy to discuss the Portugal Golden Visa with you and which investment route corresponds best to your long-term goals. Ensure a successful Golden Visa journey – you can get in touch with them today.
Portugal Golden Visa Program Ramping Up
The new rules are not the end of the Golden Visa in Portugal. They merely revamp the current residency by investment program by suspending real estate investments as qualifying criteria, and offering foreigners other options to become residents.
In 2025, anyone can qualify for the Portugal Golden Visa, provided they meet the eligibility criteria. By suspending the real estate criteria, the government is looking to manage the housing crisis and provide investors with the opportunity to boost the Portuguese economy.
The Portugal Golden Visa scheme has raised more than €7 billion ($7.2 billion) since its inception in 2012, with Brazilian, Chinese, and American investors the leading nationalities applying for the program. The recent changes are designed to promote business and innovation, create more jobs, and support cultural projects.
You can see Global Citizen Solutions’ Ultimate Guide to the Golden Visa for a complete overview of the program. As an alternative to the now-ended real estate pathway for the Golden Visa, the Portugal Golden Visa investment fund option has proved to be popular, particularly amongst American nationals.
Looking Beyond the Golden Visa Program Portugal: Other Residency Options
Although the Golden Visa (also referred to, on occasion, as the golden passport Portugal program, Portugal golden passport program, or Portugal investment visa) is still open to applicants, and the investment fund pathway is proving to be very popular with investors, there are other ways to get Portuguese residency.
Portugal has many visas open where you can secure a residence permit in the country, including the D7 Visa, the Digital Nomad Visa, and the D3 Visa.
To determine which residency option is best for you, we recommend working with immigration lawyers and getting in touch with our residency and citizenship division, Global Citizen Solutions. They will also keep you up-to-date on the latest Portugal Golden Visa news and updates on any other residency visa options in Portugal.
Many countries offer some form of Golden Visa program, although some have come to an end. Spain used to have its very own Golden Visa program (you can see our article comparing the Golden Visa Spain vs Portugal). However, the Spanish Golden Visa ended in April 2025.
Greece’s Golden Visa remains open. You can see how Portugal’s Golden Visa stacks up against the Greek Golden Visa in our comparison guide: Greece vs Portugal Golden Visa.
Buying Property in Portugal for Plan B
Buying property in Portugal still remains a good financial move, regardless of its removal as a Golden Visa-qualifying investment. Houses for sale in the Algarve, Portugal, along with houses in Lisbon and Porto, remain highly sought-after in the country, with other regions, such as the Alentejo and the North of Portugal, also increasing in popularity.
For those seeking a luxury investment or living experience, Cascais, close to Lisbon, is a safe bet, while Comporta and Melides on the South West coast offer unrivalled exclusivity.
Find out more to secure your future: Buying Property for Plan B in Portugal.
Want to secure your ideal home in Portugal
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.
Frequently Asked Questions about the Portugal Golden Visa Program Ending
Does Portugal still have a Golden Visa?
Yes, the Golden Visa is still available in Portugal. Although the real estate investment route has been suspended, new applicants can apply for the program by meeting other eligibility criteria, such as through investment funds, creating jobs, donating to research, arts, or cultural heritage.
Is the Portugal Golden Visa ending?
The Golden Visa program is not coming to an end, but it went through major changes since it removed Portugal’s real estate investments as part of the eligibility criteria. Although the program is ongoing, it has turned its focus to other types of investment that can boost the local economy, like businesses, cultural heritage, or venture capital.
When is the Portuguese Golden Visa ending?
The Portugal Golden Visa is not ending – it is merely changing. You can still apply for it, but the major difference is that you cannot do so through real estate investments.
What residency visa options are open to me?
The Portugal Golden Visa remains an attractive option despite real estate no longer qualifying for the program. Other visas to secure residency include the D7 Visa, the Digital Nomad Visa, and the D3 Visa.
How many Portugal Golden Visa changes are there?
The Portugal Golden Visa had not one, but a series of updates ever since it launched in 2012. In 2023, the government removed real estate purchases as a qualifying factor, and in 2024, they approved a new change in how to calculate the five-year residency period for those who get Portuguese citizenship.
What is the Portugal Golden Visa latest news?
The Portugal Golden Visa remains open to investors. Fund investments are currently one of the most popular investment pathways, although there is also the opportunity to invest in cultural projects, private scientific research institutions, and job creation.
Is Portugal ending the golden era of visas?
Portugal has no plans to end the Golden Visa program and Golden Visa applications are open. This residency by investment program continues to be a sought-after avenue for investors looking to obtain residency in Portugal through eligible investments, with various options available for consideration.
When is the Portugal Golden Visa suspended?
No, the Portugal Golden Visa is not suspended and is not ending. However, important modifications were made to the program in 2023, when new legislation came into force. Under these changes, investing in real estate and the capital transfer option are no longer available.
Will there be a new investment program to replace the Portugal Golden Visa program?
The Portuguese Golden Visa is still one of the most popular residency-by-investment programs in the world, attracting international capital in return for residency. At the moment, there are no plans to replace or suspend the Portugal Golden Visa.
How long does it take before I can apply for Portuguese citizenship and passport?
You may apply for Portuguese citizenship after five years of legal residence through the Golden Visa, and a Portuguese passport (and subsequently European Union citizenship). This includes maintaining the investment, passing a Portugal Golden Visa language test, and holding a clean criminal record.
