How Can an Investor Obtain Portuguese Citizenship in 2026?
In 2026, Portugal remains one of the few EU countries where an investor can build a real and lawful path to citizenship through immigration status. However, behind the attractive concept lies a complex legal procedure that includes selecting an appropriate residence permit model, complying with residence requirements, and passing multiple levels of review. Changes to investment programs and increased scrutiny by migration authorities have significantly raised the standards for applicants. Mistakes at an early stage may result in refusal, loss of time, and substantial financial costs.
Our team supports investors at every stage—from legal assessment and selection of the optimal residence permit option to document preparation and submission for citizenship. We operate strictly within current legislation and take into account the actual administrative practices of Portuguese authorities.
What Advantages Does Portuguese Citizenship Offer?
Portuguese citizenship is among the most sought-after statuses for foreign investors and entrepreneurs focused on long-term legalization within the European Union. It provides not only national rights but also the full scope of EU citizenship rights, making it a strategic instrument for personal, family, and business planning.
Key advantages include:
- An EU passport with broad international mobility. Portuguese citizenship provides an EU passport with visa-free or simplified access to more than 180 countries worldwide, significantly facilitating business and personal travel.
- The right to live and work in any EU country. A Portuguese citizen may freely reside, work, establish businesses, and conduct professional activities not only in Portugal but across all EU member states without additional permits.
- Access to the European education system. Citizens are entitled to study at public and private educational institutions in Portugal and other EU countries on equal terms with local citizens, including access to subsidized programs.
- Access to the EU banking system. Citizenship simplifies opening accounts in European banks, obtaining financial services, and using international financial planning tools within EU regulations.
- Healthcare and social protection rights. Citizens gain access to Portugal’s national healthcare system and to social programs under both EU and national legislation.
- The ability to pass citizenship to children. Portuguese citizenship is transferable by descent, ensuring EU legal status for future generations.
- Tax advantages for new residents (NHR regime). Upon relocating to Portugal, a special tax regime for new tax residents may apply, offering preferential taxation of certain income types for a limited period, subject to program conditions.
- A stable legal and investment environment. Portugal is a politically and economically stable jurisdiction with a developed legal system and strong protection of property and investor rights.
Portugal’s Investment Program: Golden Visa
Portuguese legislation provides several forms of investment that may serve as a basis for obtaining a Golden Visa.
Real estate has traditionally been the most popular option; however, the rules have changed significantly in recent years. Investments in residential real estate in major cities and coastal areas are restricted and, in some cases, entirely excluded from the program. Investments are permitted only in specific regions or in commercial real estate, subject to established criteria.
Business investments involve establishing a company in Portugal or investing in an existing business with an obligation to create jobs for local residents. This format is aimed at real economic activity and long-term investor presence.
Investments in capital funds (private equity / venture capital funds) are currently among the most in-demand options under the revised program. Funds must be registered and regulated in Portugal and invest in the national economy.
Minimum investment thresholds depend on the selected option and may be adjusted by legislation:
- For investment funds – from €500,000;
- For business projects – capital investment and job creation in the volume established by law;
- For certain real estate options – amounts from €280,000 to €500,000 in permitted regions and formats.
Additionally, the applicant must confirm the lawful origin of funds, absence of serious criminal records, and compliance with national security requirements. All documents undergo formal and compliance review.
The initial Golden Visa residence permit is issued for up to two years. To maintain it, the investor must:
- Maintain the investment in the prescribed form;
- Comply with minimum physical presence requirements (usually several days per year);
- Comply with migration and tax legislation.
Renewals are carried out every two years upon confirmation that all program conditions remain fulfilled.
After several years of lawful residence under the Golden Visa, the investor may apply for permanent residence, typically after around five years. Once permanent residence is obtained, an application for Portuguese citizenship through naturalization becomes possible upon meeting additional conditions:
- Actual residence;
- Basic knowledge of the Portuguese language;
- No criminal record;
- Integration into society.
Overall, the path from the first residence permit to citizenship usually takes approximately 6–10 years, depending on individual circumstances and administrative practice.
Conditions for Obtaining Residence Through Investment in Portugal
Obtaining a Portuguese residence permit through investment is possible only if a combination of financial, migration, and legal requirements established by law is met. The program does not provide automatic status and involves continuous state oversight at all stages:
- Minimum investment amount. Depending on the selected option, investment thresholds typically range from €280,000 to €500,000 for certain real estate formats or from €500,000 for investment funds and capital investments in the economy.
- Permitted investment types. Investments are allowed only in government-approved formats: commercial or permitted residential real estate in designated regions, business projects with job creation, and Portuguese investment and venture funds registered and regulated domestically.
- Confirmation of lawful source of funds. All investment funds must have documented legal origins and comply with financial compliance and AML requirements.
- Absence of serious criminal convictions and legal restrictions. The applicant must demonstrate good standing and compliance with national security requirements.
- Health insurance coverage. Valid medical insurance is required for residence in Portugal.
- Registered residential address. Proof of residence within Portugal is mandatory.
- Minimum physical presence. The investor must spend at least 7–14 days per year in Portugal (depending on permit validity and applicable rules), which is significantly lower than standard requirements for other residence permits.
Calculating the Cost of Obtaining Portuguese Citizenship for You
The total cost of obtaining Portuguese citizenship is calculated in stages and depends on the selected investment model, family composition, and associated legal expenses. In practice, the main budget relates to participation in the Golden Visa program, where minimum investments generally start from €500,000 (for funds and certain business models) or €280,000–€500,000 for permitted real estate options.
Additional costs include government fees, which average approximately €5,000–€8,000 per applicant at initial submission and at each renewal. Legal support for the investment and immigration process typically ranges from €7,000–€15,000, depending on structural complexity and scope of work.
When including family members, expenses increase due to additional fees and documentation and may amount to €2,000–€4,000 per person. As a result, the total indicative budget for a single investor usually starts from €520,000–€540,000, while family applications may exceed €560,000–€600,000+. We prepare an individual financial and legal calculation before the process begins so that you clearly understand the cost structure, actual obligations, and long-term immigration and naturalization budget in Portugal.
Who Can Participate in the Portuguese Citizenship Program?
Meeting the basic criteria is a mandatory condition for initiating and successfully completing the process:
- Legal age. The main applicant must be at least 18 years old and have full legal capacity to undertake investment and legal obligations.
- No criminal record or serious legal violations. Criminal convictions are reviewed both in the country of citizenship and in previous countries of residence. Serious violations may result in refusal.
- Confirmed lawful origin of funds. All investment funds must have documented legal sources. The applicant’s financial history and compliance with AML requirements are assessed.
- Compliance with Portuguese immigration and tax rules. During the residence and permanent residence stages, the applicant must comply with physical presence requirements, address registration, status renewals, and tax reporting.
- Spouse. The law allows inclusion of a legally married spouse in the migration process at the residence and permanent residence stages, with subsequent eligibility for citizenship.
- Minor children. Children of the main applicant may be included upon confirmation of family ties and compliance with formal requirements. Each family member undergoes individual document and integrity checks.
Even when all formal conditions are met, Portuguese authorities assess each case individually. The final decision is based on a combination of factors, including legal status, financial history, compliance with immigration requirements, and integration into society.
Documents Required to Obtain Portuguese Citizenship
Obtaining Portuguese citizenship through an investment model requires phased document preparation: first for residence, then for permanent residence, and finally for naturalization.
Documents for Golden Visa Residence:
- Passport
- Birth certificate
- Police clearance certificate from the country of citizenship and residence
- Health insurance
- Proof of residential address in Portugal
- Tax identification number (NIF)
- Portuguese bank account
- Documents related to the selected investment (fund, business, real estate)
- Proof of transfer of investment funds
- Application form
- Photographs and biometric data
Documents for Permanent Residence:
- Valid residence permit and renewal history
- Proof of continuous lawful residence
- Address registration
- Police clearance certificate from Portugal
- Proof of maintained investment
- Tax documents and confirmation of no outstanding liabilities
- Health insurance or registration in the healthcare system
- Permanent residence application
Documents for Citizenship Application:
- Passport and permanent residence card
- Birth certificate
- Police clearance certificates from Portugal and country of origin
- Proof of lawful residence for the required period
- Portuguese language proficiency certificate (minimum level)
- Social security registration documents (if required)
- Naturalization application
- Proof of payment of government fees
Proof of Source of Funds and Financial Capacity:
- Bank statements
- Tax returns
- Income documents (dividends, salary, asset sales, etc.)
- Documents confirming business ownership or shareholding
- Contracts and financial statements
- Source-of-funds declarations
- Additional explanations upon request by authorities
Stages of Obtaining Portuguese Citizenship Through Investment
Obtaining Portuguese citizenship through investment is a multi-stage legal process based on a gradual transition from temporary residence to permanent status and, ultimately, naturalization.
Step 1. Selecting the Investment
The process begins with identifying an eligible investment option under the Golden Visa program, such as investment funds, business projects, or permitted real estate formats. At this stage, the applicant’s goals, asset structure, family composition, and legal requirements are analyzed. Preliminary source-of-funds and compliance checks are also conducted, as the selected investment model forms the foundation of the entire immigration process.
Step 2. Obtaining the Golden Visa
After structuring the investment and preparing documents, the application for an investment residence permit is submitted. Authorities review personal data, financial documentation, and compliance with program conditions. The first residence permit is typically issued for one to two years, with the right to renew subject to continued compliance.
Step 3. Maintaining Residence and Compliance
During the validity of the Golden Visa, the investor must maintain the investment and comply with minimum physical presence requirements, generally 7–14 days per year. Timely renewals, updated documentation, and fulfillment of tax and administrative obligations are required. This stage is critical, as violations may negatively affect progression to permanent residence.
Step 4. Obtaining Permanent Residence
After approximately five years of lawful residence under the investment permit, the applicant becomes eligible to apply for permanent residence. Authorities assess continuity of status, absence of serious violations, maintenance of investment, and compliance with presence requirements.
Step 5. Applying for Citizenship
The final stage involves applying for Portuguese citizenship through naturalization. After obtaining permanent residence and fulfilling additional conditions, including Portuguese language proficiency and societal integration, the applicant may apply for a passport. Citizenship is generally obtainable 5–6 years after acquiring permanent residence, resulting in a total timeline of approximately 10–11 years from the start of investment immigration.
Alternative Ways to Obtain Portuguese Citizenship
In addition to the investment route, Portuguese law provides other grounds for citizenship
How to Obtain Portuguese Citizenship Without Refusal
All investments and financial transactions must have documented lawful sources. Bank statements, tax returns, contracts, and corporate documents are reviewed not only at the Golden Visa stage but also during renewals and the transition to permanent residence. Non-transparent financial history is one of the most common grounds for refusal.
Even with an investment residence permit, applicants must meet minimum physical presence requirements and renew their status on time. Violations of stay limits, expired documents, or a purely formal connection to Portugal may be viewed as non-compliance.
The transition from residence to permanent residence is a critical stage at which the entire immigration history is reviewed. Authorities assess continuity of status, tax compliance, absence of criminal records, and administrative violations. Errors at this stage directly affect eligibility for naturalization.
Citizenship procedures require additional conditions, including proof of integration and basic Portuguese language skills. Preparation for these requirements should begin well before applying for permanent residence to avoid formal refusals at the final stage.
How Can We Help You?
Obtaining Portuguese citizenship through investment requires a comprehensive approach that combines immigration law, financial structuring, and long-term support at all stages—from selecting the investment model to naturalization. Errors in documentation, investments, or compliance may lead to delays or refusal, making professional support essential.
Our specialists support clients throughout the entire process and provide the following services:
- Legal assessment of the client’s situation and selection of an optimal strategy for residence, permanent residence, and citizenship;
- Selection of eligible investment instruments under the Golden Visa program;
- Investment structuring in compliance with legal and financial regulations;
- Verification and preparation of source-of-funds documentation;
- Preparation of complete document packages for residence, permanent residence, and citizenship;
- Submission of applications and interaction with migration and government authorities;
- Support for residence renewals and transition to permanent residence;
- Preparation for naturalization, including language and formal requirements;
- Advisory services on tax residency and the NHR regime;
- Family member support under a unified immigration strategy.
If you are considering Portugal as a long-term jurisdiction for residence, business, or family planning, we recommend starting with a professional legal assessment. Contact our team to discuss your case, potential scenarios, and to build a legally secure and transparent pathway to Portuguese citizenship.
FAQ
The program allows investments in regulated investment funds, business creation and development with job creation, and certain forms of capital investment in the national economy. Specific options and minimum amounts are set by legislation and may change, so a legal review of current requirements is recommended before applying.
Typically, the applicant first obtains an investment residence permit and after approximately five years may apply for permanent residence. Citizenship through naturalization becomes possible thereafter, subject to compliance. The total path usually takes around 10–11 years, depending on the individual case.
Yes. The program allows inclusion of spouses and minor children at the residence and permanent residence stages. Each family member undergoes individual document and integrity checks, and citizenship is granted individually after meeting statutory requirements.
Yes. Naturalization requires proof of basic Portuguese language knowledge, typically at level A2. This requirement is mandatory regardless of investment status and cannot be replaced by financial contributions.
The Golden Visa grants the right to reside in Portugal and travel within the Schengen Area under resident rules. Full EU citizen rights, including unrestricted residence and work across the EU, arise only after obtaining Portuguese citizenship.