Portugal golden visa or D7 visa and how to choose in 2026

Portugal offers two routes that international families most often compare. The residence permit for investment, widely known as the golden visa, rewards capital placed in the Portuguese economy. The D7 visa, by contrast, is designed for people with stable passive income who intend to live in the country. As of October 2026 the two routes have drifted further apart, and a 2026 change to the nationality law has altered the long-term calculation for both.

Both routes are placed alongside Cyprus, Greece and Malta in our overview of European residence by investment programmes, and renewal is covered in our guide to Portugal golden visa renewal and minimum stay.

The golden visa routes that remain

Portugal removed real estate from its investment residence programme, so buying a home no longer leads to a permit. According to the ARI portal of the Agency for Integration, Migration and Asylum (AIMA), the main remaining options are:

• a €500,000 subscription to units of non-real-estate investment funds with a maturity of at least five years and at least 60% of the portfolio invested in Portuguese companies;
• €500,000 invested in research activities by public or private scientific institutions;
• €250,000 invested in or donated to artistic production or the recovery or maintenance of national cultural heritage;
• the creation of at least ten jobs;
• €500,000 to incorporate or capitalise a Portuguese company, combined with the creation of five permanent jobs.

The permit is initially issued for two years and renewed for further two-year periods. The minimum stay is 14 days in each two-year period, which makes it compatible with living and working elsewhere.

How the D7 visa works

The D7 is aimed at retirees and people with passive income such as pensions, rents, dividends or interest. The reference income is linked to the Portuguese minimum wage, which stands at €920 per month in 2026 for the main applicant, with additional amounts for family members. Applicants need a Portuguese tax number (NIF), a Portuguese bank account and accommodation in Portugal.

The D7 is a residence route rather than an investment route. Holders are expected to make Portugal their home, and temporary residents may not be absent for more than six consecutive months or eight months in total during the validity of the permit. Our Portugal D7 visa page sets out the documents usually requested.

Fees and processing time

Visa and residence permit fees are set in the official fee tables of the consular network and AIMA, and processing times vary by consulate and by AIMA office, so current figures should be checked at the time of application. Golden visa applications carry separate, higher analysis and issuance fees and have historically taken considerably longer.

For a structured overview of the investment route, our Portugal residency page sets out each stage from choosing a qualifying fund to the first permit.

The 2026 change to naturalisation

The most significant development for both routes is the amendment of the nationality law approved by the Portuguese Parliament. Under the approved text, non-EU nationals who are not from a Portuguese-speaking (CPLP) country would generally need ten years of legal residence before applying for citizenship, while EU and CPLP nationals would need seven, with time counted from the issue of the residence permit. Because the final text and its transitional rules depend on the version published in the Diário da República, the current position should be confirmed before relying on any timeline.

For golden visa holders, this is likely to make the timeline to a Portuguese passport longer than it was when the programme was most popular. For D7 holders who genuinely live in Portugal, the same period would apply, but they also accumulate real ties and language skills that the naturalisation process expects.

Choosing between the two

The choice usually turns on three questions. First, does the family intend to live in Portugal? If not, the golden visa’s 14-day requirement is the more practical fit. Second, is the capital available to commit for at least five years, typically through a regulated fund? Third, how will tax residence be managed? Living in Portugal on a D7 normally makes a person tax resident, whereas a golden visa holder spending little time in the country usually remains tax resident elsewhere.

Those comparing Portugal with Mediterranean alternatives often look at Cyprus, where a €300,000 property purchase still leads to permanent residence, or Greece, where property remains the core route at higher thresholds.

The position of spouses, children and parents is compared in our guide to family members in European residence programmes.

If you would like to talk through how these rules might apply to your own circumstances, our team would be glad to help. You can call +357 979 42 388 or write to us through our contact page.

Sources

• AIMA, Residence permit for investment, ARI portal, as of October 2026.
• US Department of State, 2026 Investment Climate Statement, Portugal.

This article is for general information only and does not constitute legal, tax or investment advice. Figures are stated as of 2026 and may change; confirm current requirements with the relevant authority and an independent adviser before acting. AT Express is a private consultancy and is not affiliated with any government or official programme.

Featured image: “Lisbon Alfama Sao Vicente Pantheon from Sao Jorge Castle, 20250604 1714 9404” by Jakub Hałun, via Wikimedia Commons, CC BY 4.0.