Portugal has overhauled its popular Golden Visa programme, raising the minimum investment threshold to €500,000 while permanently scrapping the real estate option.
The reforms, introduced between 2022 and 2023 and now fully in effect. Mark a major shift in how foreign investors can qualify for residency. Previously, property purchases were the most popular pathway. But the government removed this route to address rising housing costs in cities like Lisbon and Porto.
Authorities also eliminated the €1.5 million capital transfer option, further narrowing the entry routes. Today, the programme is focused on productive investments that directly support the economy rather than passive assets like real estate.
New Investment Paths and Economic Impact
Under the updated rules, investors can now qualify through regulated investment funds, scientific research contributions, cultural donations, or business creation that generates jobs.
The most common route requires a minimum €500,000 investment in approved funds. Which must be held for at least five years.
Portugal’s government says the changes are designed to redirect foreign capital into sectors that drive innovation, job creation, and long-term economic growth. The Golden Visa programme has already attracted over €7 billion in investment since its launch. But much of that previously went into real estate.
Experts say the reforms could make the programme less accessible but more sustainable. Ensuring that incoming investments benefit the broader economy rather than inflating property prices.
Despite the stricter rules, Portugal’s Golden Visa remains one of Europe’s most attractive residency-by-investment schemes. Offering visa-free travel across the Schengen zone and a pathway to citizenship after five years.
The shift signals a new era—one where investment is no longer about buying property, but about contributing to Portugal’s economic future.
