May 2026 Update: Proposed Changes to Portugal Citizenship Law
Portugal has proposed changes to its nationality law. The proposed changes include:
- Extending the citizenship timeline from 5 to 10 years
- Starting the counting period from the issuance of the residency card.
After several months of legislative and constitutional review, Parliament approved a revised version of the law on April 1, 2026, and the President signed it on May 3, 2026.
The law enters into force as of the date of publication in the Diário da República.
The Portugal Golden Visa has significant traction among non-EU individuals who are looking for a second residency in Europe. Since its launch in 2012, the program has offered investors residency permits through a variety of investment options.
On November 20, 2024, we hosted a successful webinar to explore the Portugal Golden Visa Cultural Investment Option, bringing together legal experts, cultural leaders, and attendees to discuss the €250,000 cultural donation pathway to apply for Portugal Golden Visa.
In this article, we will take a closer look at our webinar’s outcomes while also comparing the two investment options, the popular fund investment option, and the cultural investment option, to apply for a Portugal Golden Visa.
Current Landscape of the Portugal Golden Visa Program
A total investment of €500,000 in private equity or venture capital funds in Portugal, or €250,000 in support of artistic production or in the recovery or maintenance of national cultural heritage, can be used to apply for a Golden Visa.
Before diving further into the outcomes of the webinar, let’s first see what the current landscape of the Portugal Golden Visa Program is:
Changes in Eligibility:
- As of October 2023, certain investment routes, such as capital transfers and real estate investments, were excluded from the program.
- The remaining options include investments in cultural projects, job creation, and private equity or venture capital funds.
Pathway to Citizenship:
Note: In May 2026, the President signed the new Nationality Law, extending the general residence period required for citizenship from 5 to 10 years for most applicants starting from the issuance of the first residency card. As implementation details and transitional rules may still evolve, applicants should verify the latest requirements with official Portuguese government sources before applying. For more information click here.
Portugal Golden Visa Investment Types: Cultural vs Fund Investment Options
Let’s take a look at two investment options to apply for a Portugal Golden Visa.
Portugal Golden Visa Cultural Investment Option
The Cultural Investment Option is a particularly attractive type for those who plan to make a positive impact on Portuguese culture while securing residency.
Through this route, you can choose specific projects aligned with their interests—be it supporting a museum, foundation, or any other cultural initiative. This way, you may have the opportunity to create a personal connection to your investment.
Cultural donation has the lowest investment requirements for the Golden Visa, making them more accessible to families around the world.
Regarding this option, arts and culture, the law anticipates a capital transfer of at least €250,000 to assist in artistic development, recovery, or maintenance of the national cultural heritage. This option is one of the low-income options in which you can receive a 20% reduction if the activities are carried out in areas of Portugal with a low density of population, allowing the investment amount to be reduced from €250,000 to €200,000.
However, it is essential also to note that financial returns may be limited compared to other options. The primary benefit lies in contributing positively to society rather than generating profit from your golden visa investment through this option.
So, with a reduced investment amount, more families can pursue the Golden Visa. As a result, residency and citizenship by investment are no longer limited to the ultra-wealthy. They are becoming more available to a wider spectrum of people than ever before. Each applicant can target their contribution based on their interests, such as to an A foundation, cultural foundation, historical foundation, or a specific museum.
Once you have decided the cultural entity you want to support, the process is simple. Your lawyer will manage the contribution transfer, making it straightforward and efficient.
Cultural Investment Requirement:
- Portugal Golden Visa cultural investment route requires a minimum contribution of €250,000 to artistic production or the recovery and maintenance of national cultural heritage in Portugal.
Portugal Golden Visa Investment Fund Option
The Investment Fund Option, contrary to the cultural investment option, is mostly appealing to those looking for financial outcomes alongside the residency benefits of getting the Golden Visa. Investing a higher amount, with a minimum threshold of €500,000, this investment route is more suited for individuals who are more financially established and are willing to engage with private equity markets.
It is probable, depending on certain circumstances, that investors can expect potential returns on their fund investments. This investment option, though, requires careful due diligence. It might also be more complex to navigate fund structures.
Investment Fund Requirement:
Comparison of the Two Investment Options: Fund Investment vs Cultural Investment
To better understand which investment option may be more suitable for potential Portugal Golden Visa applicants, we will compare the Cultural Investment Option with the Investment Fund Option based on several criteria:
Minimum Investment: €250,000
Purpose: Support artistic production or cultural heritage
Accessibility: More accessible due to lower investment requirement
Return on Investment: Limited financial return; primarily altruistic
Processing Time: Generally simpler; involves donation transfer
Pathway to Citizenship*: Eligible to apply after 10 years with investment maintenance
Minimum Investment: €500,000
Purpose: Invest in private equity or venture capital
Accessibility: Higher barrier due to larger investment
Return on Investment: Potential for significant financial returns
Processing Time: May involve more complex due diligence
Pathway to Citizenship*: Eligible to apply after 10 years with investment maintenance
* Portuguese citizenship eligibility, timelines, and naturalization requirements are governed by nationality law and related legal interpretation, which are separate from the Golden Visa residency framework. This content is provided for informational purposes only and reflects the information available at the time of publication. It should not be construed as legal advice or as a guarantee of eligibility, approval, processing timeline, or future citizenship outcome. Laws, regulations, administrative practices and legal interpretations may evolve over time, and applicants should consult a qualified legal advisor to understand the implications of any current or potential regulatory changes before making decisions.
How Does the Investment Process Differ in Two Options?
Let’s discover the comparison of the process of cultural investment vs. investment fund options below:
Step 1
Obtain NIF (Portuguese Tax Number) and open a Portuguese bank account
Step 2
Select a certified cultural project approved by JETPAC, Ministry of Culture
Step 3
Transfer the investment amount (€250,000 or €200,000 for low-density areas) to the project
Step 4
Lawyer coordinates donation transfer and ensures compliance
Step 5
Submit all required documents to the immigration office
Step 6
Attend a biometrics appointment at the immigration office
Step 7
Residence permit issued, valid for two years, renewable every two years
Step 1
Obtain NIF (Portuguese Tax Number) and open a Portuguese bank account
Step 2
Select and subscribe to an approved private equity or venture capital fund
Step 3
Transfer the investment amount (€500,000) to the fund account
Step 4
Fund manager evaluates and approves you as an investor
Step 5
Fund manager issues a subscription declaration
Step 6
Submit required documents to immigration office and pay AIMA application fee
Step 7
Attend biometrics appointment; residence permit issued for two years, renewable every two years
Advantages of Portugal Golden Visa with Similarities of Both Investment Options
- It is a residency visa with very low stay requirements, with individuals only having to spend 7 days in Portugal in the first year and 14 days in the following two years.
- It is a gateway to Portuguese citizenship* in the sense that after 10 years of holding it, people are allowed to apply for Portuguese citizenship if they meet the condition of demonstrating sufficient understanding of Portuguese.
- It allows you to add up to three generations during the procedure. Under one investment, applicants can include their spouses, children (who can be adults under specific conditions), parents, and parents-in-law.
- The residence permits are valid for two years and must be renewed every two years.
Portuguese citizenship eligibility, timelines, and naturalization requirements are governed by nationality law and related legal interpretation, which are separate from the Golden Visa residency framework. This content is provided for informational purposes only and reflects the information available at the time of publication. It should not be construed as legal advice or as a guarantee of eligibility, approval, processing timeline, or future citizenship outcome. Laws, regulations, administrative practices and legal interpretations may evolve over time, and applicants should consult a qualified legal advisor to understand the implications of any current or potential regulatory changes before making decisions.
Key Takeaways from the Webinar
The webinar, led by Murat Coskun, Managing Partner at Get Golden Visa, and Werner Gruner, Regional Partner at Get Golden Visa, sought to clarify the present condition of the Portugal Golden Visa program by highlighting cultural investment opportunities.
Expert Insights from the Webinar
Werner Gruner, Regional Partner at Get Golden Visa, commented:
Legal expert Madalena Monteiro emphasized the accessibility of the cultural investment route:
Dr. Mark Deputter elaborated on their role in facilitating cultural contributions:
Dr. Sofia Castro added:
The Wrap Up
Both the Cultural Investment Option and the Investment Fund Option under Portugal’s Golden Visa program provide distinct benefits based on an investor’s objectives—whether they want emotional fulfillment via cultural engagement or financial returns through smart investments.
Portugal’s Golden Visa Program in Investment Migration
Since 2014, Get Golden Visa has been acting as a global mobility consultancy, guiding over 1,000 families through their investment journeys.
The recent changes in eligibility have further clarified these investment routes, highlighting that prospective applicants carefully assess their alternatives based on personal circumstances and long-term goals. As mentioned in the webinar, Murat Coskun, Managing Partner of Get Golden Visa explains:
“This webinar showcased a unique and impactful pathway that benefits not only our clients but also the cultural heritage of Portugal. We’re proud to continue leading innovation in investment migration.”
Finally, whether to make cultural contributions or fund investments will be determined by individual interests, such as community engagement or financial return potential, both of which point to a opportunities Portugal offers.
Frequently Asked Questions
What is the cost of cultural investment Golden Visa for Portugal?
The minimum investment amount for the Portugal Golden Visa cultural investment option is €250,000 (€200,000 in low-density areas).
What is the cost of the Portugal Golden Visa fund investment?
In order to apply for a Portugal Golden Visa through the fund investment option, you need to make a minimum €500,000 investment.
