Two laws, one path
The Foreigners Act grants a residence permit for investment (art. 90.º-A) to a third-country national who makes one of the qualifying investments: 500 000 € in a non-real-estate fund with at least 60 % in Portuguese companies, 500 000 € in research, 250 000 € in culture (200 000 € in low-density areas), 500 000 € in a company creating five jobs, or the creation of ten jobs. Property purchases stopped qualifying on 7 October 2023. The permit is renewed every two years on proof that the investment is maintained; the holder must spend at least seven days in Portugal in the first year and fourteen in each subsequent two-year period. Full detail on the golden visa page.
The Nationality Act grants naturalisation to a legal resident of ten years (seven for nationals of EU and Portuguese-speaking countries) who proves language, culture, history and symbols, knows rights and duties, declares adherence to the democratic rule of law, has a clean record and can support themselves (art. 6.º n.º 1). Golden-visa years are legal residence; the minimal-presence rule of the permit does not shorten the count.
- 10 years of legal residence for most investors (7 for EU/CPLP nationals) since 19 May 2026
- 5 years still the route to permanent residence (art. 80.º of the Foreigners Act, with basic Portuguese)
- Old rule (5 years) only for naturalisation files pending on 19 May 2026
- A2 + culture test required even for investors
A realistic timeline for an investor
| Year | Step |
|---|---|
| 0 | NIF, bank account, investment; ARI application to AIMA within 90 days of the first entry; fees 632,10 € analysis + 6 314,20 € on grant (online) per person |
| 2, 4, 6, 8 | Renewals every two years (3 157,80 € each online), investment maintained at least five years, presence 14 days per period |
| 5 | Option: permanent residence permit (basic Portuguese, means, housing) — ends the two-year renewals; the investment may then be released |
| 7 or 10 | Naturalisation request: A2 certificate, culture and history test, criminal records, subsistence, 250 € |
| after | Decision by the Minister of Justice, registration, Cartão de Cidadão, passport |
What investors should weigh now
- Cost against alternatives. A D7 or D2 permit reaches the same ten-year naturalisation for ordinary fees (133 € + 114,30 €), but requires living in Portugal. The golden visa buys the right not to live here while the years accrue.
- Tax residence is separate: staying under 183 days and keeping your home abroad usually keeps you non-resident for tax. Naturalisation does not require tax residence.
- Language. A2 Portuguese and a culture test cannot be delegated. Investors who plan citizenship should start lessons early — the test is the part of the file that money does not solve.
- Family. Spouse and children included in the ARI accrue their own years and apply for naturalisation on their own files; minors of a naturalised parent can declare (art. 2.º).
Golden-visa files lodged before 19 May 2026 whose holders had already applied for nationality keep the five-year rule. A permit holder who reached five years in 2026 but had not filed for nationality by that date now needs ten. We confirm the exact position on the IRN's records before any advice.
Questions
Is there any faster citizenship route for investors?
No. The reform removed the five-year rule for everyone except pending files, and there is no investor-specific exception in the Nationality Act.
Can I get a Portuguese passport without ever living in Portugal?
Naturalisation requires legal residence, which the ARI provides with minimal physical presence, plus the language and culture conditions. Ten years of renewals with 14-day stays is lawful; whether it is worth it is a personal calculation.
What about EU long-term residence?
Available after five years of legal and uninterrupted residence with stable resources; it eases moving to another EU state but is not citizenship.
Sources and official references
- Lei Orgânica n.º 1/2026 — Nationality Act, art. 6.º n.º 1 b) (7 / 10 years), art. 15.º (residence), art. 7.º n.º 2 of the organic law (pending files) — checked 18.9.2026
- AIMA — Autorização de Residência para Investimento (art. 90.º-A): routes, 7/14-day minimum stays, right to request naturalisation under the Nationality Act — checked 18.9.2026
- Lei n.º 56/2023 — end of the property route for the ARI (7 October 2023) — checked 18.9.2026
- AIMA — fee table (Portaria n.º 307/2023): ARI fees — checked 18.9.2026