Portugal Golden Visa in 2026: Closed Routes, What Still Works, and the Citizenship Timeline Shift

Updated September 2026 — this article replaces our earlier 2023 summary, which described routes that are no longer open to new applicants.

Real estate and capital transfer are closed

Portugal's Mais Habitação housing law, in force since October 2023, removed the two most popular Golden Visa (ARI) routes: direct or indirect real-estate investment and the EUR 1.5 million capital transfer. Older content that still presents "interior residential real estate" as a qualifying route is out of date — do not rely on it.

Qualifying routes that remain open

• Investment funds: EUR 500,000 into a qualifying Portuguese-law fund that is not invested in real estate.
• Cultural support: EUR 250,000 toward artistic production or national cultural heritage — EUR 200,000 in qualifying low-density territories.
• Scientific research: EUR 500,000 into qualifying research activity.
• Business: company creation or capitalisation tied to job creation in Portugal.

The citizenship timeline has changed

For years, ARI holders could apply for Portuguese citizenship after five years of legal residence. Under the 2025–26 nationality-law reform approved by Parliament, the residency requirement for naturalisation rises to around ten years (seven for nationals of Portuguese-speaking countries), with the clock and transitional protections subject to the final implementing rules. Anyone mid-process should confirm how the transitional provisions apply to their specific timeline with a Portuguese immigration lawyer.

Tax position

The original Non-Habitual Resident (NHR) regime closed to new applicants in 2024. Its narrower successor (IFICI) mainly covers qualifying research and innovation roles. Residency permit holders should not assume preferential tax treatment — take advice before relocating.

What the ARI still delivers

• Schengen-area residency with a minimal stay requirement (roughly 7 days per year on average)
• Family inclusion for spouse, dependent children, and parents
• A legal path to permanent residence and, eventually, citizenship under the new longer timeline

Bottom line

Portugal remains a credible EU residency route, but the proposition has changed: no real estate, a longer road to a passport, and less generous tax treatment than older marketing suggests. If fast citizenship is the goal, compare Portugal against Caribbean programmes or Turkey before committing.

Programme rules change frequently. This article is informational only and is not legal or tax advice — confirm current requirements with AIMA and qualified counsel.