Golden Visa Investment Routes 2026: What Still Qualifies

October 2023’s Mais Habitação law removed real estate, capital transfer and the reduced-threshold options from the Golden Visa. Persistent articles still describe the old menu — this page describes the one that actually exists in 2026. The program’s centre of gravity is now unambiguously the fund route, with culture and business routes serving specific profiles.

1. Fund subscription — €500,000 (the default route)

Subscribe €500,000 or more into qualifying Portuguese venture capital or investment funds: minimum 5-year maturity, at least 60% of the portfolio invested in Portuguese-incorporated companies, and real-estate exposure excluded. The investor holds fund units — not a property — and the capital stays invested through the residency period. Costs to model: management fees (typically 1–2% annually), entry costs, and the subscription structure itself.

2. Research — €500,000 (€400,000 low-density)

Capital into research institutions within Portugal’s national science system — universities, recognised R&D centres. Niche but real: suits philanthropically-minded investors and those with academic ties.

3. Culture — €250,000 (€200,000 low-density)

Support for artistic production or recovery/maintenance of national cultural heritage — the lowest-threshold route. Projects are structured through qualifying entities; execution quality varies, so diligence matters as much as price.

4–5. Business routes

• Incorporate or capitalise a Portuguese company with €500,000, creating 5 permanent jobs (3-year commitment) — or maintaining 10 existing jobs
• Pure job-creation: 10 new jobs without a fixed capital floor — rare in practice, relevant for operating businesses