An amendment filed on November 6 would raise domestic investment requirements for qualifying funds, introduce a social-care investment option and halve the minimum research contribution.
Portugal’s governing PSD and CDS-PP parties have submitted an amendment to the 2027 State Budget that would change the investment requirements for the Portugal Golden Visa programme.
Filed on November 6, the proposal would increase the share of qualifying fund investments directed towards Portuguese companies from 60% to 80%, while retaining the €500,000 minimum investment.
It would also require investments to reinforce the share capital of those companies, potentially affecting funds that invest in publicly traded securities. Although the proposed wording could create difficulties for some open-ended fund structures, it does not explicitly prohibit them.
The amendment also proposes a new €250,000 route for investments in eligible social-care facilities, including those serving children, older people and people with disabilities. The minimum contribution for scientific research would fall from €500,000 to €250,000.
The governing parties hold 91 of parliament’s 230 seats, meaning the amendment’s approval will depend on other parties’ positions. According to Get Golden Visa’s Werner Gruner, the proposal still requires clarification and could undergo further amendments before receiving final approval.
The proposal also includes protections for pending applicants, although the final transitional arrangements remain subject to clarification.
Committee votes are scheduled for November 18–23, followed by the final State Budget vote on November 24.
Get Golden Visa is closely monitoring the legislative process and will provide updates as further details emerge.
