Portugal’s so-called Golden Visa program, once hailed as one of the easiest routes to EU residency and citizenship, is facing changes:
• In June 2025, the government proposed extending the residency requirement for naturalization from five to ten years — effectively doubling the time before foreign investors can qualify for Portuguese citizenship. The draft legislation also includes stricter integration evaluations, such as language, civic knowledge and cultural awareness tests. Applicants from Portuguese-speaking nations (e.g. Brazil, Angola) would face a slightly reduced seven-year timeline.
• Although these changes have not yet been enacted, the parliament is set to deliberate on the proposal, likely in September. If adopted, the new rules could significantly affect existing Golden Visa applicants and force a rush to complete investments under the current five-year regime.
Program Evolution & Investor Strategy
Portugal initiated its Golden Visa in 2012. By late 2023, the program had phased out real estate as an investment option, redirecting focus toward investment funds, scientific and R&D contributions, cultural preservation, and job creation.
Despite attracting over €7 billion in capital, the immigration backlog ballooned as of early 2025, approximately 50,000 Golden Visa applicants were still waiting for residence permits, and courts were burdened with pending lawsuits related to processing delays, according to media reports.
However, Portugal continues to position itself as a premier destination for residency-by-investment, offering a golden visa for a 500,000 euro investment. But the landscape is shifting. As policymakers prepare for parliamentary debate, those considering Portugal's Golden Visa might need to act swiftly—or risk being caught under new rules.
