For years, the strongest sales pitch for Portugal's Golden Visa was: five years and you have an EU passport, while only needing to spend seven days per year in the country. No other European program offered that combination.
That pitch is now outdated.
The Specific Changes
The new citizenship law — Lei Orgânica No. 1/2026, published on May 18, 2026 in the official gazette and effective May 19, 2026 — extends the residency requirement for citizenship from 5 years to 10 years for most non-EU nationals.
Along with this comes another change that preceded it but has been underemphasized in marketing materials: the Non-Habitual Resident (NHR) tax incentive program closed to new applicants in 2024 and was replaced by a narrower framework under which most individuals with passive income do not qualify.
The Program Still Operates — Don't Overcorrect
To be clear and avoid swinging to the opposite extreme: Portugal's Golden Visa is still active. The program has not closed.
What remains:
- Still accepting new applications, starting at EUR 250,000 through the investment fund route
- Still requires only seven days of residence per year — the lowest in Europe
- Still grants the right to live and work in Portugal and travel within Schengen on a short-term basis
- Still leads to permanent residency, and eventually to citizenship
What has changed:
- The 5-year pathway to an EU passport — now 10 years
- The real estate investment route — eliminated in October 2023; only investment funds remain
- NHR tax benefits — closed to new applicants in 2024
Processing Time Is Also a Factor
The current backlog for processing Portugal Golden Visa applications stands at approximately 39.6 months — the longest in Europe.
This number matters more than it first appears. Residency time is calculated from the date the residence permit is granted, not from the application submission date. Adding three years of processing time to ten years of required residency means the total timeline from initial investment to receiving a passport could exceed thirteen years.
Who This Still Suits
Still suitable for those seeking a legal foothold in Europe who do not need to relocate full-time and for whom a passport is not a primary objective. The seven-day annual requirement remains unmatched anywhere else.
No longer suitable for those purchasing a Golden Visa primarily to obtain an EU passport within five years. That objective is no longer achievable through this route.
If Your Goal Is an EU Passport — Reassess the Landscape
After this change, the European picture realigns:
- Greece — citizenship after 7 years of tax residency, plus Greek language examination. Tax residency means you must actually reside there, unlike Portugal's seven days
- Hungary — new program as of July 2024, processed in 2 to 3 months, no residency requirement, pathway to citizenship around 8 years. The real barrier is learning Hungarian
- Italy — citizenship requires 10 years of continuous residency, now equivalent to Portugal's current requirement
- Bulgaria — the only European program granting permanent residency from the outset, with a flat 10% tax rate
No route is fast. That is the reality of Europe in 2026, not a negotiating position.
What You Should Do Now
If you are holding advisory materials on Portugal, check the update date. Materials stating five years with no note about the May 2026 reform are more than two months outdated and describe a program that no longer exists.
This is not a minor detail. The difference between five years and ten years is the difference between programs.