Important
Editorial intelligence only. Not immigration advice. Engage a qualified Portuguese attorney.
What Changed in 2023
The most popular Golden Visa route for foreign buyers — direct residential real estate investment — was removed from eligible categories in 2023. For Americans whose primary interest is Algarve property acquisition, the Golden Visa is no longer the relevant residency pathway. The D7 Visa is.
What Still Qualifies
- Investment fund route: €500,000 minimum in a qualifying Portuguese venture capital or private equity fund. Must be capitalised for five years with at least 60% invested in Portuguese companies.
- Job creation: Minimum ten permanent jobs for Portuguese nationals.
- Scientific research: €500,000 minimum in qualifying R&D institutions.
- Cultural heritage: €250,000 minimum to qualifying cultural programmes.
Who the Golden Visa Still Suits
The Golden Visa's defining feature is a minimum physical presence requirement of only 7 days per year in Portugal. For the capital-rich American who wants EU residency and the path to Portuguese citizenship but cannot spend 183+ days per year in Portugal, the €500,000 fund route remains viable.
Golden Visa vs D7 Comparison
| Factor | Golden Visa | D7 Visa |
|---|---|---|
| Minimum investment | €500,000 fund | None |
| Income requirement | None | €870/mo passive |
| Min. days/year in Portugal | 7 | 183 |
| Path to citizenship | 5 years | 5 years |
| NHR/IFICI tax access | Only if 183+ days | Yes |