Portugal's Golden Visa in 2026: What Still Qualifies

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 scientific-research donation, a cultural-heritage donation, 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 7 October 2023. It removed property purchases, property-linked investment funds, and passive capital transfers (the bank-deposit route, originally €1 million, raised to €1.5 million from January 2022) from the list of qualifying investments. 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: Golden Visa applications that had already been filed and were still pending before 7 October 2023, including ones at an early stage such as awaiting municipal pre-approval, continued under the old rules. Signing a property purchase agreement before that date does not, by itself, preserve eligibility: what matters is whether the Golden Visa application itself had been filed, not when the purchase contract was signed.

What still qualifies

Five routes remain open. An investment fund contribution of €500,000, provided the fund holds no real estate, runs for at least five years, and puts at least 60 percent of its portfolio into companies headquartered in Portugal. A donation of €500,000 to scientific research, reduced in low-density areas. A donation from €250,000 to cultural heritage projects, also reduced in low-density areas. Creating jobs directly, generally 10 positions (fewer in low-density areas), with no capital minimum at all. Or a capital transfer of €500,000 to incorporate a new Portuguese company that creates 5 permanent jobs, or to grow an existing one the same way, also reduced in low-density areas.

The fund route is now the most used by a wide margin. It is also the only one of the five where the capital is intended to come back to the investor, at market risk rather than as a guarantee.

The real bottleneck isn't eligibility, it's AIMA

Qualifying is only the first step. Portugal's immigration agency, AIMA, told parliament it had processed roughly 6,000 of about 46,000 pending Golden Visa applications, around 13 percent, as of early October 2026, with close to 30,000 appointments already scheduled but not yet decided. 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, from roughly 14 to 18 months quoted by some Lisbon practitioners to an average above four years in a Q2 2026 survey by IMI (Investment Migration Insider). 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 itself was filed before 7 October 2023, even at a preliminary stage, confirm it is still being processed under the old rules. A signed purchase agreement alone does not preserve eligibility.

None of this makes the Golden Visa a bad option in 2026. It makes it a narrower, slower one than its reputation suggests, worth planning around honestly rather than by what used to be true.

Frequently asked questions

Does Portugal's Golden Visa still exist in 2026?

Yes. Property purchases stopped qualifying in October 2023, but the programme 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 scientific-research donation (€500,000), a cultural-heritage donation (from €250,000), direct job creation (around 10 jobs), or a capital transfer tied to building a Portuguese company (€500,000 and 5 jobs).

How long does Golden Visa approval actually take in 2026?

Estimates vary widely. Some Lisbon practitioners quote 14 to 18 months for a new filing, while a broader industry survey puts the programme's average wait above 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 still pending on 7 October 2023. Signing a purchase agreement alone, without a filed application, does not preserve eligibility under the old rules.

This article is general information, not immigration, tax or legal advice, and does not replace guidance from a licensed advisor on your specific case.