Portugal
Residency by Investment Program
Portugal is celebrated for its beautiful coastline and historic cities like Lisbon, with its charming trams and vibrant cultural scene.
Portugal Golden Visa: A Proven Route to European Residency, Now on a Longer Path to Citizenship
The Portugal Golden Visa remains one of Europe’s most established residency by investment programmes. Since the 2023 reforms, it no longer includes real estate. Instead, investors qualify through regulated investment funds, cultural heritage contributions, scientific research funding or business creation.
Our preferred route is the investment fund option. Invest EUR 500,000 in a regulated, non-real estate Portuguese investment fund to secure an EU residence permit for you and your family. Our preferred fund is structured with a focus on capital preservation and targets an annual return of 2 percent. As a fund benefit, investors can also enjoy a week-long annual stay with their family at one of 15 five-star hotels. Returns are targeted, not guaranteed, and full terms are set out in the fund documentation.
The physical presence requirement remains one of the lowest in Europe, an average of just 7 days per year.
What has changed: the new Nationality Law.
Portugal’s revised Nationality Law (Organic Law No. 1/2026) entered into force on 19 May 2026. It extends the residence period required to apply for Portuguese citizenship from 5 years to 10 years for most applicants, and to 7 years for EU and CPLP (Portuguese-speaking country) nationals. The residence clock now generally runs from the date the first residence permit is issued, rather than from the application date. The Golden Visa residence programme itself, including its investment routes and minimum stay, is unchanged, and permanent residence remains available after 5 years.
A legal challenge is under way.
More than 500 Golden Visa holders have organised a collective lawsuit against the Portuguese State, and a consortium of Portuguese law firms has filed an Ombudsman complaint on behalf of 1,260 investors. The challenge centres on the absence of transitional protection for investors whose residence permits were delayed by the immigration agency, AIMA, often for three to five years. If successful, it could restore more favourable treatment for affected applicants and shorten their path to citizenship. The outcome is not yet known, and we advise clients to plan on the current 10-year horizon while we monitor developments closely.
4th
Passport Ranking
180+
Visa-free countries
10 Years
Time to citizenship
€250,000
Starting investment (Cultural Route)
Benefits
01
Visa-free travel to 180+ countries with Portuguese citizenship.
02
Schengen Access
isa-free travel across the 29-country Schengen Area with residency.
03
Tax Planning
Potential access to Portugal’s IFICI tax incentive for qualifying activities, subject to eligibility.
04
World-class Education
Access to Portuguese and international schools and universities.
05
Premium Healthcare
Access to Portugal’s public and private healthcare system.
06
Low Physical Residency Requirement
An average of 7 days per year.
07
Safety & Security
Strong political stability and high levels of personal security.
08
Permanent residence after 5 years, and eligibility for Portuguese citizenship after 10 years of legal residence (7 for EU and CPLP nationals).
Investment Options for the New Golden Visa Program
- Investment funds: EUR 500,000 in units of non-real estate collective investment schemes, with a minimum maturity of five years and at least 60 percent of the investment directed to Portuguese-based companies.
- Scientific research: EUR 500,000 transferred to research activities of public or private institutions within the national scientific and technological system.
- Cultural heritage: EUR 250,000 to support artistic production or the preservation of Portugal’s cultural heritage.
- Business creation: EUR 500,000 to incorporate a Portuguese company, or increase the capital of an existing one, creating at least five permanent jobs or maintaining at least ten jobs (five of them permanent) for at least three years.
Portugal Highly Skilled Visa (HSV) Option: University Collaboration Route
For clients who value speed, the Highly Skilled Visa, also known as the Highly Qualified Activity (AAQ) route, is currently one of the fastest ways into Portugal. It sits under Portugal’s D3 visa framework.
Rather than a passive capital investment, applicants qualify through a formal collaboration agreement with a partner Portuguese university or research institution, supported by a Letter of Commitment to fund research, academic development or innovation activity at that institution. The contribution is EUR175k.
- Speed: Our clients are currently receiving residence cards in approximately four months from application.
- Family: A spouse and dependent children can typically be included in the same application.
- Renewal: Residence cards are renewable every two years.
- No real estate or fund exposure: No property to buy, manage or sell.
- International mobility: The D3 framework generally expects residents not to be absent for extended periods. Where clients have genuine international business commitments, the partner university can issue a supporting letter documenting those obligations, allowing them to maintain their residence status while continuing to work abroad.
- Citizenship: The same 10-year naturalisation timeline applies as for the Golden Visa.
Applicants typically hold a university degree and/or significant senior professional experience. Speak to our team to confirm your eligibility.
Steps and Procedures
Step 1
Sign a retainer agreement for Knightsbridge Group to act as your adviser for the application, due diligence and legal process.
Steps 2 & 3
- Obtain your Portuguese tax number and open a Portuguese bank account.
- Prepare, legalise and translate the required documents, and transfer the investment into the qualifying fund or project.
Step 4 & 5
- Arrange meeting at the University to meet the Dean and sign the collaboration contract.
- Submit your application online to AIMA, then travel to Portugal for your biometrics appointment.
- Current processing times from submission to residence card issue typically range from 12 to 24 months, depending on AIMA’s workload.
Steps 6 & 7
- Your initial residence permit is valid for two years and is then renewed for three-year periods, provided the investment and minimum stay requirements are maintained.
- After 5 years you may apply for permanent residence. After 10 years of legal residence (7 for EU and CPLP nationals), you may apply for Portuguese citizenship, subject to an A2 Portuguese language test and the other statutory requirements.
Have questions?
Get in touch!
Get a call back from our immigration advisers today to find out whether the Golden Visa or the Highly Skilled Visa best fits your plans, and how the new Nationality Law affects your timeline.
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