Golden Visa in Portugal: What the New Nationality Law Means for Investors
Portugal remains a top choice for global investors, but the legal framework is shifting. Recent legislative developments are set to transform the Nationality Law, significantly impacting the journey toward Portuguese citizenship. In this article, we explain these changes and why the “Portuguese Dream” through the Golden Visa remains a smart strategy.
The New Path to Nationality
The new version of the Nationality Law introduces significant changes to the residence time required to apply for citizenship:
- New Timelines: Citizens from non-Portuguese speaking countries will now require 10 years of residence (up from the current 5 years).
- Counting the Time: The residence period will only begin to count after the issuance of the residence permit, rather than from the date of entry into the country.
- Impact on the Golden Visa: After completing the 5-year Golden Visa program, holders may apply for permanent residency, but they will need to wait another 5 years under that status before becoming eligible for nationality.
Important Note: The law is still awaiting further debate in the Assembly of the Republic following a rejection by the Constitutional Court, although it is not expected that the new 10-year requirement will be modified.
Why the Golden Visa Still Pays Off
Despite the extension of the timelines for nationality, the Golden Visa remains unchanged in its structural benefits and is one of the most flexible options in Europe:
1. Freedom of Movement: It guarantees legal residence for the investor and their family, including spouses, dependent children, and parents.
2. Minimum Presence Requirements: It requires only 7 days per year of stay in Portugal.
3. Attractive Environment: Portugal offers a genuine connection to the community and language proficiency that facilitates integration.
Investment Options: Fund vs. SME
For those seeking the Golden Visa in 2026, these are the two primary pathways that remain active:
Venture Capital Fund (Investment Fund)
Minimum Investment: €500,000. Key Feature: Professional capital management focused on startups, innovative projects, or Portuguese companies, requiring less direct management effort from the investor.
SME Incorporation or Capitalization
Minimum Investment: €500,000. Key Feature: Direct investment in a company headquartered in Portugal, allowing for greater control over the business but requiring active management and the creation or maintenance of jobs.
The Key to Success in a Changing Landscape
While the new law may extend the path to obtaining Portuguese nationality, the Golden Visa program remains a solid foundation for your family’s security and freedom. With the expectation that AIMA (Agency for Integration, Migration and Asylum) will become more efficient, processes are expected to become less bureaucratic. The success of your investment depends on a strategic choice between the convenience of funds or the control of an SME, always supported by a team that masters the nuances of these legislative updates.
Want to understand how the new law impacts your specific plan?
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