Expat Academy

The Portugal Golden Visa for retirees in 2026

What the Portugal Golden Visa costs now that real estate no longer qualifies, its seven-day stay requirement, the path to permanent residence and citizenship, and why it isn't tax residence.

Updated · Expat Academy · Education, not advice

1 EUR = 1.1193 USD · 1 USD = €0.8934 ECB euro foreign exchange reference rate, 23 Oct 2026

Euro amounts are converted at this rate and are estimates. Currency moves change what your life in Europe costs in dollars: a weaker dollar makes it more expensive.

For Americans who want long stays in Portugal without moving there, the Golden Visa (residence permit for investment) is the one permit with a very light stay requirement.

What it costs

Route Minimum
Qualifying Portuguese investment fund (no real estate) €500,000 (about $559,650 today)
Cultural or heritage donation €250,000 (about $279,825 today) (less in low-density areas)
Company creation with jobs €500,000 (about $559,650 today) and five jobs

Real estate hasn't qualified since October 2023. Fund fees, lock-ups and returns matter as much as the visa: get independent advice on the investment itself.

What it gives you

  • A Portuguese residence card, renewed every two years.
  • Stay requirement: 7 days in the first year, then 14 days in each two-year period.
  • Travel: live in Portugal as long as you like, and up to 90 days in 180 elsewhere in the Schengen area.
  • Permanent residence after five years, and citizenship after ten years of legal residence under the 2026 nationality law.
  • Processing: typically one to two years through AIMA.

Is it worth it?

For a couple who want three to five months a year in Portugal without moving there, the alternatives are seasons of up to 90 days in 180 (shared with every other Schengen country) or a D7, which is a residence route. The Golden Visa sits between them: long stays when you want them, little obligation to be there. Weigh the fund's fees, lock-up and expected return, the legal and government fees for the application and renewals, and the processing time, against how many extra days you'd actually use.

Family and renewals

A spouse and dependent children can be included. The card is renewed every two years, with proof that the investment is still held and a clean record. Keep your days log too: the stay requirement is easy to meet, but renewals ask.

What it doesn't do

It doesn't make you a Portuguese tax resident, and it doesn't protect you from becoming one. More than 183 days in any 12 months, or a home kept as your habitual residence, makes you resident whatever your visa. Check your seasons with the free Portugal Residence Check and read Portugal's tax residency rules.

While you hold it

  • Healthcare: keep Medicare for the US and buy travel medical cover for each stay; the permit doesn't bring public healthcare with it unless you live in Portugal.
  • Taxes: as a non-resident you file nothing in Portugal unless you have Portuguese income or property; the fund's own reporting comes to you, and the US taxes the investment like any other foreign fund (ask about PFIC rules before you invest).
  • Your days: count every season in the day counter, across the turn of the year.

Questions

Can I still get a Portugal Golden Visa by buying property?

No. Real estate was removed as a route in October 2023. Retirees usually invest €500,000 in a qualifying Portuguese investment fund, or make a €250,000 cultural donation.

How many days do I need to spend in Portugal on a Golden Visa?

Seven days in the first year, then 14 days in each two-year period.

Does a Golden Visa make me a Portuguese tax resident?

No. Tax residence depends on spending more than 183 days in any 12 months, or keeping a home as your habitual residence.

How long until citizenship with a Golden Visa?

Under the nationality law in force since 19 May 2026, ten years of legal residence for most applicants, counted from the first residence card. Transitional rules for earlier applicants were still pending in late 2026.

Go deeper

  • P3 The Golden Visa, and visiting without a visa: Track A in Portugal: 90 days in 180 as a visitor, or a Golden Visa that asks for only seven days a year in Portugal. What the Golden Visa costs now that real estate no longer qualifies, and why it isn't tax residence.
  • P14 Portugal's residence check for seasons: Two Portuguese seasons can add up to more than 183 days in a 12-month window that crosses the new year, and a home kept as your base can make you resident with far fewer days. How to check your plan.

Sources

Education, not advice. This guide explains general rules as of the date above. Rules change every year; confirm your own situation with a qualified adviser in the US and in France.