Portugal Nationality Law 2026: New Citizenship Rules for Golden Visa Holders

Portugal Nationality Law 2026: what changed in brief

What Changed in May 2026:

The new Portugal Nationality Law extended the citizenship timeline for Golden Visa holders from five to seven years for CPLP countries and ten years for everyone else. The countdown now starts when you receive your first residence card and not when you submit your golden visa application.

What does not change:

1. Investment Routes Unchanged: EUR 250,000 cultural donation or EUR 500,000 fund
2. Minimum Stay Requirement: Just 7 days per year
3. Permanent Residency: Still available after five years
4. Real Estate: Not allowed
5. Family Members: Can be included in the application

Good News:

Portuguese Immigration Authority (AIMA) processing times have gotten better in 2026, reducing the backlog that plagued applicants for years. The application timeline is now typically 12–24 months from start to approval.

Essential point:

If your main target is Portuguese residency and EU access, the Portugal Golden Visa is still an interesting option. If your idea was to obtain the Portuguese passport quickly, the new citizenship timeline makes this less viable than before.

What Changed in May 2026? The New Portugal Nationality Law Explained

There have been many discussions surrounding a new set of amendments to the Portuguese Nationality Law, that entered into force on May 19th, 2026.

It is important to note that these changes do not affect the Golden Visa program itself, that is ruled by Immigration Law - a separate set of rules that has not suffered any changes in the past couple of years, nor is there an expectation that any changes will take place in the near future.

In other words, the residency program, family benefits, minimum stay requirements, investment routes, etc., all remain unchanged.

What did change, with relevance to investors and their families, is the timeline to qualify for Portuguese nationality by naturalization:

1. Citizenship eligibility for foreign residents extended from 5 years to 10 years of continuous legal residency, or 7 years for other EU and CPLP nationals.
2. The clock for citizenship now only starts ticking once final approval has been granted, not from the date of submission of the application.

Although the Portuguese Golden Visa is still one of the only programs in Europe that offers a direct path to citizenship without requiring applicants to physically stay in the country, it is no longer appropriate to engage in this program if the main goal is to get a second passport in a short timeline.

Although there are still pending discussions and regulations to be drafted and approved in regard to these amendments, namely when it comes to the implementation of a transitional regime for those who had already applied for the Golden Visa, but not yet for citizenship, it is safe to assume that, for new applicants, the longer timeline will apply from now on.

Portugal Golden Visa Investment Options in 2026

Currently, there are several investment options available to investors who seek to qualify for a Portuguese Golden Visa, and you’re free to choose whichever option you prefer, considering costs, timelines and the level of involvement required.

The generally cheapest, simplest and fastest option is the popularly called “donation” path, that entails a non-refundable EUR 250,000.00 investment in support to artistic production, recovery, or maintenance of the national cultural heritage, through qualified public entities or private foundations with public utility status.

If the investment takes place in a low-density area (such as many cities in the countryside of Portugal), that amount can be reduced to EUR 200,000.00.

However, many investors would like to have the possibility to redeem their funds after receiving Permanent Residency or Citizenship. In this case, the easiest path to follow is by making an investment of EUR 500,000.00 into a Portuguese investment fund.

The fund itself can be selected by the investor, as there is no fixed list of investment funds that qualify for the Golden Visa. If the fund places a minimum of 60% of the funds into commercial companies headquartered in Portugal, do not invest directly or indirectly in real estate, and is duly approved by Portuguese authorities to operate in Portugal (for example, the CMVM), then investors should be able to freely select the one that best suits their needs and expectations.

Different funds will offer higher or lower risks, invest in different sectors and structure their investments differently - private Equity, venture capital, bonds, are all acceptable paths. If you are not familiar with these subjects, speaking with legal and financial advisors is a must to help you navigate all the different options.

The other available paths to obtain a Golden Visa, popularly called as the Business Investment or Job creation paths, tend to require a bigger involvement of the investor into the process, and can take longer to be arranged, as it tends to involve further bureaucracy with Commercial registry, Social Security, Employment maintenance, etc.

In short, if choosing the first, investors must either:

1. spend at least EUR 500,000.00 to incorporate a new commercial company headquartered in Portugal, as well as guarantee the creation of five full-time permanent jobs, that must be maintained for a minimum of 3 consecutive years.
2. spend at least EUR 500,000.00 to increase the share capital of an existing business headquartered in Portugal, as well as guarantee the creation of at least five permanent jobs or the maintenance of at least ten jobs, of which a minimum of five must be permanent, that must be maintained for a minimum of 3 consecutive years.

If choosing the second, investors must create a minimum of 10 full-time jobs in Portugal, either on a new or existing business incorporated an operating in Portugal.

How Long Does the Portugal Golden Visa Take? Residency vs. Citizenship Timeline

When it comes to the timeline, it is very important to note that a lot of variables come into place regarding immigration procedures, as each case is treated independently and therefore has its own timeline and specificities to follow – in other words, it is not possible to ethically and realistically guarantee any timelines.

It is also a well-known fact that AIMA (Portuguese Immigration Authority) has experienced significantly delays in processing applications, particularly so after the pandemics that lead to a very considerable backlog. However, following an increase in staff and the implementation of technology-based solutions to procedures, we have seen indeed a general improvement on timelines since 2025.

With this in mind, the below is an estimate and example of how most Golden Visa applications are processed.

There are, naturally, ways to speed up the process, as trying to complete some of the initial steps before initial submission of the application as simultaneously as possible. Having an experienced team to guide you both in your country of origin and Portugal can definitely expedite the process as well.

Please note that the Golden Visa is valid for two years, and can be renewed indefinitely for equal two-year periods, as long as you maintain your investment, a clean criminal record, and comply with the minimum stay requirements.

When it comes to reaching Portuguese citizenship or Permanent Residency, there are a few different paths a Golden Visa holder can follow, as outlined below.

Path to Permanent Residency

After five years from the final approval of your Golden Visa procedure, meaning, after you receive your physical residence card, you are entitled to apply for Permanent Residence for Investment.

Is summary, please note that you must maintain your Golden Visa valid in order to qualify for Permanent Residence, as well as demonstrate having a knowledge of basic Portuguese language, and keep a clean criminal record.

Permanent residency must be renewed every five years, in a simplified process.

Depending on your own circumstances and investment, as well as your private agreement with investment fund managing entities, you might be allowed to exit your investment and redeem your funds after Permanent Residency is granted.

Path to Citizenship, with a Permanent Residency midway, for non CPLP nationals

If you applied and received a permanent residence after year 5, you do not need to renew your golden Visa application any more to qualify for Portuguese citizenship.

You must simply wait another further 5 years, so that in total, considering all the years that you held a Golden Visa and a Permanent residence, you had 10 years of legal residence in Portugal.

The general criteria for Portuguese citizenship are still pending regulations from the authorities, but should include a civic test, language knowledge and a clean criminal record.

Direct path to Citizenship, for non CPLP nationals

If, however, you do not wish to apply for Permanent Residency after year 5, you can simply maintain your investment and renew your Golden Visa every two years until you reach 10 years from final approval of your initial application.

Direct path to Citizenship, for CPLP nationals

For CPLP nationals who hold a Portuguese Golden Visa, the timeline for citizenship is of 7 years, instead of 10.

Most applicants might choose, therefore, to keep their investment and renew their Golden Visa until they meet the 7 year requirement to apply for Citizenship.

Please note that there is no preferred or best path for all applicants. Each Golden Visa holders should make informed decisions with their legal and financial advisors, considering their own interests, expectations and needs.

Does Real Estate Still Qualify for the Portugal Golden Visa?

In October 2023, as part of a legislative measure to ensure greater access to housing for the Portuguese following a housing crisis, the Government extinguished the option to invest in real estate as a qualifying route to the Golden Visa.

Currently, any direct or indirect investment into real estate cannot qualify for Golden Visa purposes.

This does not mean that real estate investment is banned for foreigners, at all. Foreign investors may still purchase real estate for any legitimate purposes, including as a family home, holiday house or simply further investment to diversify their portfolio.

This process will typically be simpler once investors have legal residence in Portugal, such as via their Golden Visa.

Some investors might, for example, choose a donation-based Golden Visa investment first, as it has lowers cost, and later on make further real estate investments.

In other words, your Golden Visa qualifying investment cannot be related to real estate. But after receiving your final approval for your Golden Visa, you can independently make any real estate investments you wish.

Do Portugal Golden Visa Holders Pay Tax in Portugal?

Taxation, especially when involving multiple jurisdictions, is a highly complex matter, and the recommended approach is to consult with specialized international tax lawyers, who can assess your own personal circumstances and businesses, and give you tailored advice on how taxation regarding your Golden Visa investment will be processed.

Generally speaking, as a Golden Visa holder, you do not automatically become a tax resident in Portugal. In other words, income, capital gains, pensions etc. received outside of Portugal should not be subject to any taxes in Portugal.

An individual can be considered a tax resident in Portugal if they spend over 183 days in Portugal counted over any period of 12 months, or if, during any 12-month period, they have a dwelling available to them under conditions that indicate an intention to maintain and occupy it as their habitual residence.

So, if you do not become a tax resident in Portugal, any tax implications would only befall income with origin in Portugal.

It is also important to note that there are many bilateral agreements in place between Portugal and other countries to avoid double taxation, which makes it even more important to consult with a tax specialist. In some cases, tax on capital gains can be made in your home country.

In Portugal, the normal withholding tax on capital gains is 28%. When “tax havens” countries are involved, this can increase to 35%.

Until December 2023, Portugal had a special tax regime for foreigners, called the NHR regime, that granted a 10-year right to anyone who, as individuals, (1) established their fiscal residence in Portugal and (2) had not been taxed as a fiscal resident for the previous 5 years to the date the regime would be claimed to lower tax rates. For example, all Portuguese sourced income from dependent employment or self-employment earned through high value-added activities of a scientific, artistic, or technical nature could be taxed at a special rate of 20%

Outside of the NHR regime, if a person were to become a tax resident in Portugal, their income, including foreign-sourced income, could be subject to progressive tax rates of up to 48%, as well as additional solidarity taxes depending on the earned amounts.

The NHR regime ended in December 2023 and, although a transitional regime was established, it is no longer possible for new applicants to benefit from it. At the same time, Portugal introduced the popularly called “NHR 2.0”, more technically called the IFICI tax regime, or Innovative Fiscal Incentive for Scientific Research and Innovation.

However, the IFICI can only be applied to a select group of people, such as scientists and researchers in accredited research institutions, tech and innovation professionals, and other highly qualified professionals. It does not apply broadly to investors, entrepreneurs, or retirees.

When it comes to the taxation itself, the IFICI determines that income earned from the exercise of one of those highly qualified or innovative activities in accredited institutions can be taxed at a flat rate of 20% for the duration of 10 years, not applying to passive income, investment income or rental income, for example.

In other words, a Golden Visa investor who establishes tax residence in Portugal will not necessarily be able to benefit from the IFICI, depending on their professional activity. A retired investor living on stock dividends, for example, will likely not be eligible for this tax benefit, while a tech founder building a software company might.

Portugal Golden Visa vs. Italy, Greece and Hungary: Which Is Best?

EU countries do not typically offer Citizenship by Investment programs (CBI), but there are a few countries that offer Golden Visa programs, or residency by investment programs, aside from Portugal.

A few examples are Italy, Greece and Hungary, and we have prepared an overview of their respective “Golden Visa” programs for general reference as below.

For a detailed side-by-side, see our Greece vs Portugal Golden Visa comparison.

As you can see, there are many similarities between the programs, and deciding which one is best for you depends on your own expectations, short and long time goals and business and investments plans.

If your goal is to acquire a residency right in an European country quickly, with a real estate-based investment, Greece might be the way to go.

On another hand, if your goal is to secure long term EU citizenship for your children, even if they are close to adulthood, Portugal might be a better option.

It is also worth noting that, even though Portugal increased the timeline for citizenship, it is still one of the only countries that allows you to apply for said citizenship without having to establish physical residency in the country.

Why Work With a Portugal Golden Visa Lawyer

My passion for international law began early on, while still pursuing my Law Degree in one of Portugal’s best renown universities, the University of Coimbra.

This curiosity led me, initially, to the field of International Family Law, where I developed experience and sensitivity in dealing with delicate matters that directly affect people's lives — skills I strive to continue strengthening in my current practice.

As someone who went through Portuguese Immigration myself at a young age, I understand perfectly the stress and anxiety that can be associated in being involved with a foreign authority, having to navigate cultural differences and handle bureaucracy at an international level.

Now, as a fully licensed immigration lawyer, a part of my role is also to “translate” difficult and complex legal jargon into everyday English, to help you make informed decisions, that will have short- and long-term impacts in your and your families’ lives.

I am able to support you every step of the way – from initial selection of the Immigration path that might be best suited to you and your family’s circumstances, to the entire Portugal Golden Visa application, its subsequent renewals, as well as Permanent Residency and Citizenship applications down the line.

My goal is to figure out balanced and thoughtful legal solutions, knowing full well that there is no “one size-fits all” path or approach. I’ll advise you on what can and cannot be done, how to do it, and help you face any obstacles that can appear during an investment and immigration process, as smoothly as possible.

I’d be very happy to schedule a call if you are interested in applying for a Portuguese Immigration program.