Reviewed by Jane Katkova, Founder & Licensed CICC ConsultantKey points
- Real estate and real-estate funds were removed from the golden visa on 7 October 2023.
- The mainstream route is €500,000 in a CMVM-registered fund held for five years.
- A cultural donation qualifies from €250,000, or €200,000 in low-density areas.
- Qualifying funds may not hold real estate directly or indirectly.
Real estate removed on 7 October 2023
Property purchases and real-estate funds stopped qualifying for the Portugal golden visa (ARI) on 7 October 2023 and have not returned. You may still buy a home in Portugal, but it will not support a residence application. Funds used for the programme may not hold real estate directly or indirectly.
Qualifying investment routes in 2026
- €500,000 in a CMVM-registered fund, the mainstream choice, with units held for five years.
- €500,000 in research.
- €250,000 cultural donation, or €200,000 in low-density areas; the donation is not returned.
- Company or job-creation routes.
The fund route returns capital at the fund's maturity, typically five to six years, if the fund performs; it can return less. For a family of four, fees add about €26,600 to the €500,000 investment. The breakdown is in our guide to Portugal golden visa costs and fees.
Stay requirement, processing and citizenship
The golden visa needs seven days a year in Portugal, and one investment covers your spouse, dependent children and dependent parents. AIMA takes 18–24 months from filing to the first two-year card. Since 19 May 2026 citizenship comes after ten years of residence, not five.
If owning a property is your priority, the programme no longer fits that aim and another country may suit better. The current rules are on our Portugal golden visa page. To review fund options and source-of-funds evidence, book a consultation with us.
People also ask
How long does it take to get Portuguese citizenship through residence?
Ten years of legal residence, counted from your first residence card, under the Nationality Law in force since 19 May 2026. EU and CPLP nationals qualify after seven years. You also need A2 Portuguese and a clean record. Applications lodged before 19 May 2026 follow the old five-year rule.
How much does the Greece golden visa cost in 2026?
From €250,000 for an approved commercial-to-residential conversion or listed-building restoration, €400,000 for a standard home in most of Greece, and €800,000 in Attica, Thessaloniki, Mykonos, Santorini and islands with more than 3,100 residents. Add about 3.09% transfer tax, 3–4% notary and legal fees, and about €2,000 state fee per adult.
Can you rent out a Greece golden visa property on Airbnb?
No. Long-term lets are allowed, but short-term rental on Airbnb-style platforms is banned for Greece golden visa property. The fine is €50,000 and the residence permit can be revoked. Plan your yield on annual tenancies, not tourist lets, and expect a Greek property tax bill (ENFIA) plus tax on any Greek rental income.
Does the Malta Permanent Residence Programme lead to citizenship?
No. The Malta Permanent Residence Programme (MPRP) is permanent residence only. Malta's investor citizenship scheme was annulled by the Court of Justice of the European Union on 29 April 2025 and replaced by a discretionary merit-based route that is not for sale. Ordinary naturalisation needs years of residence and ministerial approval.
How much does Malta permanent residence cost for a family of four?
A couple with two minor children pays €101,000 in government fees under the Malta Permanent Residence Programme: a €60,000 administrative fee, €37,000 contribution, €2,000 NGO donation and four €500 residence cards. On top, you rent a property for at least €14,000 a year or buy for at least €375,000, held five years.