Portugal's Golden Visa in 2026: what still qualifies
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Portugal's Golden Visa still exists in 2026, but the route most people associate with it, buying property, no longer qualifies. Five routes remain open instead: an investment fund, a capital transfer to scientific research, a capital transfer to the arts or cultural heritage, direct job creation, or a capital transfer tied to building a Portuguese company. Property disappearing from that list is still the single most common misunderstanding we hear from investors starting their research today.
What changed, and when
Law 56/2023, the "Mais Habitação" package, took effect on October 7, 2023. It ended new applications based on buying property and on the standalone capital transfer (originally €1 million, raised to €1.5 million from January 2022), and it barred the remaining routes, investment funds included, from investing in real estate directly or indirectly. You can still buy property in Portugal freely, including everything covered in what buying actually costs in 2026. It just no longer earns a residence permit on its own.
The change was not retroactive. Applications already filed and awaiting a decision on October 7, 2023, and those still waiting on municipal licensing, kept their validity (article 43 of the law). The protection covers filed applications, so a signed property purchase agreement on its own did not preserve eligibility. Permits granted under the old routes convert to entrepreneur-immigrant permits when they are renewed.
What still qualifies
Five routes remain open, and each investment must be kept for at least five years. An investment fund contribution of €500,000, provided the fund is a Portuguese non-real-estate fund with a maturity of at least five years and at least 60 percent of its investments in companies headquartered in Portugal. A capital transfer of €500,000 to scientific research. A capital transfer of €250,000 to artistic production or cultural heritage. Creating at least 10 jobs, with no capital minimum. Or €500,000 to set up a Portuguese company that creates 5 permanent jobs, or to add capital to an existing one that creates at least 5 permanent jobs or keeps at least 10 for at least three years.
In low-density areas, the job, research and culture routes can be 20 percent lower: 8 jobs, €400,000 or €200,000. The fund and company routes get no reduction. AIMA no longer publishes figures by investment type, so there is no official count of which route is used most. It did grant 2,685 Golden Visas in 2025, a record, up from 2,081 in 2024.
The real bottleneck is AIMA
Qualifying is only the first step. On October 7, 2026, Presidency Minister António Leitão Amaro told parliament that about 6,000 of roughly 46,000 pending Golden Visa applications had been decided, around 13 percent, and that close to 30,000 appointments had been booked. It fits the pattern across AIMA's wider backlog, not something specific to Golden Visa applicants. Estimates of total waiting time vary sharply by source: two advisory firms quote about 14 to 18 months for applications filed now, while IMI Daily's Q2 2026 survey put the average time from filing to permit for completed files at 50.4 months, more than four years. Plan around the long end of that range, not the short one.
Before you apply
- Confirm which of the five remaining routes actually fits your situation. Don't assume because property worked for someone you know in 2022.
- Treat the AIMA stage, not the investment itself, as the longest part of the timeline.
- If your Golden Visa application was filed and awaiting a decision on October 7, 2023, or was waiting on municipal licensing, confirm it is still being processed under the old rules. A signed purchase agreement alone did not preserve eligibility.
The Golden Visa is still an option in 2026, but a narrower and slower one than its reputation suggests. Plan around the current rules and timelines.
Frequently asked questions
Does Portugal's Golden Visa still exist in 2026?
Yes. Property purchases stopped qualifying on October 7, 2023, but the program itself is still open, with five non-real-estate investment routes.
What investment routes qualify for the Golden Visa in 2026?
An investment fund (€500,000), a capital transfer to scientific research (€500,000), a capital transfer to the arts or cultural heritage (€250,000), creating at least 10 jobs, or €500,000 to set up or grow a Portuguese company that creates 5 permanent jobs. The job, research and culture routes can be 20 percent lower in low-density areas.
How long does Golden Visa approval actually take in 2026?
Estimates vary widely. Two advisory firms quote about 14 to 18 months for a new filing, while IMI Daily's Q2 2026 survey put the average for completed files at 50.4 months, more than four years. Plan for the longer end.
Does a property purchase agreement signed before October 2023 still qualify?
Only if the Golden Visa application itself had already been filed and was awaiting a decision, or waiting on municipal licensing, on October 7, 2023. A purchase agreement alone, without a filed application, did not preserve eligibility.
Urbanis works with vetted immigration lawyers and fund managers to confirm real eligibility before any capital moves.
Talk to the relocation teamThis article is general information, not immigration, tax or legal advice, and does not replace guidance from a licensed advisor on your specific case.