The headline: property no longer counts
The most important fact about the Portugal Golden Visa in 2026 is what it no longer includes. The 2023 Mais Habitação reform removed real estate — and any fund with direct or indirect real-estate exposure — as a qualifying investment. If a marketer is still selling you "Portuguese residency by buying an apartment," they are describing a route that closed in October 2023.
The live routes in 2026
| Route | Amount | Best for |
|---|---|---|
| Qualifying fund | €500,000 | Capital investor wanting residency, not relocation |
| D7 visa | No lump sum | Retirees / passive-income earners who will live there |
| D8 visa | No lump sum | Remote workers / digital nomads |
How the €500,000 fund route works
You subscribe at least €500,000 into a regulated Portuguese fund — private equity or venture capital — that meets two key tests: it invests at least 60% of its capital in companies headquartered in Portugal, and it has a maturity of at least five years. Qualifying funds target technology, healthcare, renewable energy and private equity.
The trade-off versus the old property route: your capital is at market risk and you don't control the underlying asset the way you control a flat. Fund selection, fees and track record matter enormously.
D7 vs D8 — usually the better path if you'll actually live there
If your real goal is to live in Portugal rather than to park capital, the Golden Visa is often the wrong tool:
- D7 — for those with stable passive income (pension, rental, dividends). No €500k lump sum; you prove recurring income above the threshold.
- D8 — the digital-nomad visa for remote workers and freelancers earning above a salary multiple of the Portuguese minimum wage.
Both are far cheaper than the fund route, but carry minimum-stay expectations the Golden Visa does not — they are residency for people who intend to be present, not absentee investors.
So should you still buy in Portugal?
Yes — if the property stacks up on its own merits (yield, IMT cost, AL short-let rules), not because it buys a visa. Model the real numbers with our IMT calculator and read the Lisbon AL licence guide before counting on rental income. Then choose a residency route separately.
Weighing Portugal against other markets? See our country comparisons or run a specific property through Outpost.
Sources: Mais Habitação reform (2023); getgoldenvisa / global residence index Portugal Golden Visa fund guides 2026; SEF/AIMA D7 & D8 visa criteria. Reviewed June 2026.