We invested in a Portuguese future too. We understand your 'why'.
Why a Golden Visa?
Having more than one place to call home is a sought after security in an ever more complex world. With one of the highest safety and quality of life indices in the world, Portugal is an excellent second domain to call home.
Europes most popular residency & citizenship by investment program. Here's why:
Residency Rights
The visa grants the right to live, work, and study in Portugal upon issuance of your first Golden Visa card, approximately 12 - 18 months post your application.
Visa-Free Travel
Your Golden Visa allows visa-free travel within the Schengen Area, providing access to 26 European countries.
Family Friendly
On one single €500,000 investment, your entire family, including children under the age of 18, dependents under the age of 25, and your parents over the age of 65, qualify for the program.
Minimum Stay Requirements
You are only required to be in Portugal for 14 days every two years whilst engaged in the program. By comparison, the Greek and Spanish Golden Visas require 183 days in country each year.
Quality of Life
Portugal is known for its high quality of life, including security, excellent healthcare, education, and a great climate. English is widely spoken and there is a large expatriate community.
Citizenship
Post completion of the program, participants can apply for Portuguese citizenship, subject to meeting certain conditions, including language proficiency.
Our team and bespoke technology makes the application process easy and efficient
Tejo 360 is our complete application support package, a combination of talent, experience and software that dramatically improves your application experience and outcome.
We do not introduce you to professionals and walk away, we manage success for you.
Legal Support
Your application is guided by a choice of highly experienced golden visa law practitioners with a track record of success. They manage your investment readiness, application into the program, and represent you before the immigration office.
Tax Representation
Your Portuguese Tax ID is your main form of identification in the program. You also need an appointed tax representative to handle communication with the administration. We handle both for you.
Banking
Your investment in a fund must be transferred to a Portuguese bank account in your name. Our qualified banking partners incubate this for you via Tejo OS.
Tejo OS
We have developed a bespoke application platform through which your account is managed. The software automates data collation, optimises communication and ensures our investors data privacy and protection.
What our clients says
FAQs
With us, it's not just about financial security; it's about caring for your loved ones. Let's navigate the path to your family's peace of mind together.
Assume that it will take approximately 24 months to gain your first golden visa card. You will be issued a series of cards for the next 5 years, and then if you wish to convert to citizenship, assume another 18 months. All in, 8 years.
We are the anti bureaucracy fund. We have developed a software platform that radically reduces time spent in application, ensures accuracy and security of data.
Combined with best in class professionals from legals, taxation and banking, we guarantee an easy, fast and successful application.
Investors seek capital preservation and growth. Nothing risky. We like to say that we're looking to hit steady singles, not home runs.
- Timing. Investing in where we're headed, not where we've been.
- Fundamentals. Energy isn't going anywhere.
- Diversification. Investing across execution types, geographies, and currencies.
- Cash Yielding.
- Established Exit Strategy.
You will be required to visit Portugal, along with any additional family applicants, for biometrics prior to being issued your first golden visa card, and for visits totalling 14 days every two years.
We've developed a concierge service to assist you in planning these visits, along with any in visit support that you may require.
Is the Portugal Golden Visa the right program for you? We're here to help you find out.
You can retire in Portugal without the Golden Visa. Find out more.
Portugal Golden Visa 2026: The Complete Investor's Guide
Portugal's Golden Visa is Europe's most established residency-by-investment programme. Since 2012, it has granted residency to over 12,000 international investors and their families, attracting more than €7.5 billion in foreign investment. For investors seeking EU residency, visa-free travel across 26 Schengen countries, and a clear path to Portuguese citizenship, the Golden Visa remains one of the most attractive options available. This guide covers everything you need to know — from investment requirements and eligibility to processing timelines, family inclusion, and the road to citizenship.
What Is the Portugal Golden Visa?
The Portugal Golden Visa, officially the Authorisation of Residence for Investment (ARI), is a residency-by-investment programme that grants non-EU nationals and their families the right to live, work, and study in Portugal. It was launched in October 2012 by the Portuguese government to attract foreign capital and stimulate economic growth. Unlike most residency programmes, the Golden Visa requires minimal time in Portugal: just 14 days every two years. This makes it uniquely suited to investors who want EU residency and a path to citizenship without relocating full-time.
Key Benefits
EU Residency: Live, work, and study in Portugal. Travel visa-free across all 26 Schengen Area countries. Path to Citizenship: Under current rules, apply for Portuguese citizenship after five years and obtain an EU passport, one of the world's most powerful, granting visa-free or visa-on-arrival access to over 180 countries. Note: a law extending this period is pending presidential approval (see our 2026 Legislation Update). Minimal Stay Requirement: Only 14 days in Portugal every two years. No need to relocate or disrupt your life. Family Inclusion: A single investment covers your spouse, children (under 18, or up to 26 if in full-time education and financially dependent), and parents aged 65 or over. No Tax Residency Obligation: Holding a Golden Visa does not make you a Portuguese tax resident. Tax residency is determined by physical presence and economic activity, not visa status.
Investment Options in 2026
In 2023, the Portuguese government removed real estate from the qualifying investment routes as part of broader housing reforms. Today, the most popular — and for most investors, the most practical, route is through qualifying investment funds.
Qualifying Investment Funds (€500,000)
The flagship route. Invest a minimum of €500,000 in a CMVM-regulated (Portuguese Securities Market Commission) investment fund. Qualifying funds must be regulated by the CMVM, have a maturity of at least five years, and invest at least 60% of capital into Portuguese companies or projects. This is the route taken by the majority of Golden Visa applicants today. Fund investments offer professional management, regulatory oversight, diversification, and alignment with Portugal's economic development priorities.
Tejo Ventures manages CMVM-regulated Golden Visa qualifying funds focused on Portugal's clean energy transition, investing in solar renewable energy and clean technology. Our latest fund, SFFIII, targets an 8% net IRR with 4% net annual distributions commencing approximately 24 months after investment as assets reach operational status.
Other Qualifying Routes
Capital transfer (€1.5 million): Transfer at least €1.5 million to a Portuguese bank account or into qualifying Portuguese financial instruments.
Company creation (10 jobs): Create a company in Portugal that employs a minimum of 10 people.
Research contribution (€500,000): Invest at least €500,000 in approved scientific research activities.
Arts and culture (€250,000): Invest at least €250,000 in support of artistic production or the preservation of national cultural heritage.
For most international investors, the €500,000 fund route offers the strongest combination of simplicity, regulatory protection, and return potential.
Eligibility: Who Can Apply?
The Portugal Golden Visa is open to non-EU, non-EEA, and non-Swiss nationals who make a qualifying investment and meet basic due diligence requirements. There is no age limit, no education requirement, and no business experience requirement. Main applicant requirements: be a national of a non-EU/EEA country, be at least 18 years old, make a qualifying investment (e.g., €500,000 in a regulated fund), have a clean criminal record, and not be subject to any EU sanctions.
Family Members (Dependents)
One of the programme's most valuable features is family inclusion. Your single qualifying investment covers your spouse or civil partner, children under 18, children aged 18–26 if unmarried, in full-time education, and financially dependent, and parents of the main applicant or spouse aged 65 or over. Each family member receives their own residence card and follows the same path to citizenship. Children who are under 18 at the time of citizenship application are exempt from the Portuguese language requirement.
How Much Does It Cost?
Beyond the qualifying investment itself, investors should budget for several additional costs. Government fees are approximately €6,045–6,179 per adult, paid at the biometrics appointment. Legal fees are agreed directly with your law firm at engagement and cover the full programme: Golden Visa application, two-year renewals, and citizenship application. Renewal fees are government fees payable at each two-year card renewal, similar in scale to the initial biometrics fee. Citizenship application fees include the IRN government processing fee, legal fees, criminal record certificates, apostilles, and translation costs. There are no ongoing annual government fees between biometrics and the first card renewal.
Timeline: From Application to Citizenship
The full journey from investment to Portuguese passport follows a clear sequence. Under current rules, the citizenship clock starts from the date your Golden Visa application is submitted to AIMA (the Portuguese immigration authority), not from biometrics, not from card issuance, and not from any other event. Processing delays do not affect your citizenship timeline. Important: the Portuguese parliament has approved a law that would change both the qualifying period and the start date of the citizenship clock. This law is not yet in force. See our 2026 Legislation Update below for full details and our position on grandfathering for existing applicants.
Year 0 — Application Submission: Under current rules, the citizenship clock starts from submission. Approximately 4 months after submission, you attend a biometrics appointment at an AIMA office in mainland Portugal where fingerprints and photographs are taken and the residence permit fee is paid. Your law firm accompanies you and prepares all documentation. 2-6 months after biometrics, your residence card is issued and valid for two years. Your law firm can collect it under power of attorney and courier it to you.
Every 2 years, the residence card is renewed. You must accumulate 14 days in Portugal within each 24-month renewal period. Days do not need to be consecutive. In years 3–4, complete your A2 Portuguese language certificate. The CIPLE exam is available at CAPLE-certified centres in over 35 countries worldwide. At year 5, apply for citizenship with the IRN. Citizenship decisions typically take around 12 months. Once confirmed, your Portuguese passport is issued within weeks.
The 14-Day Stay Requirement
One of the Golden Visa's most attractive features is the minimal time you need to spend in Portugal. You must accumulate 14 days in Portugal within every 24-month period, measured from the date your residence card was issued. The days do not need to be consecutive. Before your card is issued, there is no stay obligation at all. Presence is demonstrated through an evidence trail compiled by your lawyer at renewal: NIF-linked receipts from every purchase during visits, Portuguese bank transactions, flight records, and hotel and accommodation receipts. Each family member must build their own evidence trail independently.
The A2 Portuguese Language Requirement
All adults applying for citizenship must hold an A2 Portuguese proficiency certificate, the second level on the CEFR scale (basic user, upper beginner). There are two routes: the CIPLE exam, a two-hour in-person exam covering reading, writing, listening, and speaking with a pass mark of 55% overall, available at 100+ CAPLE-certified centres in 35+ countries, costing approximately €75 with sittings in May, July, and November; or the PLA course, a 150+ hour government-recognised Portuguese language course with a certificate issued on completion. All adults aged 18 and over need the certificate, both the main applicant and adult dependents. Children who are under 18 at the time their citizenship application is submitted are exempt. We recommend completing it in year 3–4 of the programme.
Tax Considerations
Holding a Golden Visa — and even becoming a Portuguese citizen — does not automatically create Portuguese tax residency. Tax residency is determined by spending 183 or more days in Portugal in a 12-month period, updating your residential address with Finanças (the Portuguese tax authority), working in Portugal, or owning property in Portugal. If you avoid all four triggers, you remain non-resident. Under current rules, non-residents pay no Portuguese capital gains tax on returns held within the qualifying Golden Visa fund structure.
For US investors, the Tejo fund is likely classified as a PFIC (Passive Foreign Investment Company). Investors receive an annual PFIC statement for their US tax return. Additional reporting requirements may include FBAR (FinCEN 114) for foreign accounts exceeding $10,000 and FATCA (Form 8938) depending on total foreign asset values. We always recommend confirming your specific tax situation with a qualified tax advisor.
Citizenship vs Permanent Residency
These have different eligibility triggers and should not be confused. Under current rules, citizenship can be applied for five years from your application submission date. It grants a Portuguese passport, full EU citizenship, the right to live and work in all 27 EU member states, and the ability to pass citizenship to children. Permanent Residency can only be applied for five years from the date of your first residence card issuance, which is typically 6-8 months later. It grants an indefinite right to remain in Portugal only. Because the card is issued months after submission, most investors become eligible for citizenship before they qualify for permanent residency. For investors whose goal is EU mobility and a passport, citizenship is the more meaningful outcome. Note: the Portuguese parliament has approved a law that would extend the citizenship qualifying period and change its start date. See our 2026 Legislation Update for full details.
2026 Legislation Update: Nationality Law Reform
On 1 April 2026, the Portuguese parliament approved a revised nationality law by a two-thirds majority (151-65), extending the citizenship qualifying period from five years to ten years for third-country nationals (seven years for EU and CPLP citizens). The law also changes when the citizenship clock starts: from the date of application submission to the date of first residence permit issuance. The law has not yet been signed by the President and has not been published in the Diario da Republica, meaning it is not yet in force. President Antonio Jose Seguro may sign it, veto it, or refer it to the Constitutional Court for review. Our legal position, shared by the leading law firms in this space: existing applicants who submitted before any change is enacted will be grandfathered under the current five-year rule, measured from their original submission date. This is supported by precedent: the Golden Visa programme has been amended multiple times since 2012 on investment types and minimums, and none of those changes were applied retroactively. We are monitoring the presidential decision closely and will update investors immediately when the outcome is confirmed. In the meantime, the practical advice remains clear: start language preparation now and file your citizenship application promptly at your eligibility date.
Why Invest Through Tejo Ventures?
Tejo Ventures manages CMVM-regulated investment funds that qualify for the Portugal Golden Visa. Our funds invest in Portugal's transition to clean energy — specifically solar renewable energy and clean technology infrastructure. Our funds are fully CMVM-regulated with complete regulatory oversight by the Portuguese Securities Market Commission. SFFIII targets an 8% net IRR with 4% net annual distributions commencing approximately 24 months after investment. Our experienced team guides investors through the full programme, from initial investment through to citizenship. We provide transparent quarterly reporting on fund performance, portfolio developments, and deployment progress, backed by multiple fund vintages with investors at every stage of the Golden Visa journey.
Frequently Asked Questions
How much do I need to invest for the Portugal Golden Visa?
The minimum qualifying investment through a regulated fund is €500,000. This single investment qualifies your entire family, including spouse, children under 18 (or up to 26 if in full-time education), and parents aged 65+.
How long does the Portugal Golden Visa process take?
The five-year citizenship clock starts from application submission. Biometrics are scheduled approximately four months after submission. Your first residence card is issued two to six months after biometrics. Full citizenship eligibility is reached at the five-year anniversary.
Do I need to live in Portugal?
No. The Golden Visa requires only 14 days in Portugal every two years. You do not need to relocate.
Can I include my family?
Yes. Your investment covers your spouse or civil partner, children under 18, children aged 18–26 (if unmarried, in full-time education, and financially dependent), and parents aged 65+.
Is real estate still a qualifying investment?
No. Since 2023, residential real estate is no longer a qualifying investment route. The most popular route is now through CMVM-regulated investment funds.
Will I become a Portuguese tax resident?
Not automatically. Tax residency depends on physical presence and economic activity — not visa or citizenship status. Golden Visa holders who spend fewer than 183 days in Portugal and avoid other tax residency triggers remain non-resident.
What language level do I need for citizenship?
A2 Portuguese — upper beginner on the CEFR scale. The CIPLE exam is available worldwide, runs three times per year, and most motivated learners find it very accessible with consistent preparation.
What happens if Portugal changes the five-year rule?
The parliament is debating extending the qualifying period to seven or ten years. This has not been enacted. Our legal position is that existing applicants will be grandfathered under the current five-year rule, consistent with how all previous programme changes have been handled.
Next Steps
Ready to explore the Portugal Golden Visa? Contact Tejo Ventures to discuss your investment options, eligibility, and timeline. Our team will walk you through everything, from fund selection to citizenship.