Portugal Golden Visa Costs in 2026: Investment Options and the Real Budget

The figure everyone remembers is €500,000. It is the right starting point, but it is only the main line of the budget. Before I talk to a family about funds, I ask them to look at three things: which option they can legally use, what comes on top of the investment, and which part of the money is spent for good.

Which investments still qualify

Since October 2023 the residence permit for investment cannot rest on real estate. AIMA lists the options that remain:

Option	Minimum	Is the money returned?
Units of Portuguese non-real-estate funds	€500,000	Yes, on the fund’s terms, with market risk
Scientific research	€500,000 (€400,000 in low-density areas)	No
Artistic production or cultural heritage	€250,000 (20% less in low-density areas)	No
Creating jobs	10 jobs (8 in low-density areas)	It is a business
A company or capital increase with jobs	€500,000 plus 5 permanent jobs	It is a business

Low-density areas are the ones defined in Ordinance 208/2017, with fewer than 100 inhabitants per square kilometre or GDP per head below 75% of the national average.

The fund route in detail

AIMA sets out three conditions for the fund itself:

• it is a collective investment undertaking set up under Portuguese law that does not invest in real estate;
• at the moment you invest, its maturity is at least five years;
• at least 60% of the value of its investments goes into commercial companies based in Portugal.

BRIDGES adds that the fund must be supervised by the CMVM, the Portuguese securities market commission. For the application you need a bank statement that the money arrived by international transfer, a certificate that you own the units free of charges, and a statement from the management company confirming the maturity and the 60% rule.

What to check before you sign

A fund is a financial product, and the permit depends on it for years. Before any subscription I would look at the licence, the strategy, the fees, the life of the fund and the exit terms. BRIDGES describes a client who was sold a “Golden Visa fund” that turned out to have no licence and gave no right to a permit, which is exactly the risk this check is for. More detail is in the BRIDGES article on funds for the Golden Visa.

Research, culture and jobs

The research route requires a transfer to a public or private research institution within the national science and technology system, confirmed by that institution. The cultural route goes through public bodies, foundations and cultural associations, and the Office for Cultural Strategy, Planning and Assessment (GEPAC) must issue a statement confirming the transfer. Both are donations: the money does not come back, and BRIDGES notes that confirming a cultural project takes longer than entering a fund.

The job routes suit people who really plan to run a business in Portugal and can show employment contracts or a company certificate.

What comes on top of the investment

• State fees. AIMA charges a fee to examine the application and another to issue the card, for every person in the application, and again at renewal. The fee table is set by Ordinance 307/2023, and BRIDGES reports that the rates were revised from March 2026, so I take the amount at the date of filing rather than from older budgets.
• Fund fees. BRIDGES puts typical annual management fees at around 1 to 2.5% of the investment, depending on the fund, and some funds add subscription and performance fees. Over five years this changes the result noticeably.
• Legal support. The tax number (NIF), the bank account, the subscription and the filing are usually done by a lawyer under power of attorney.
• Documents. Apostilles and certified translations into Portuguese for every family member, and fresh certificates if the case drags on.
• Health insurance. AIMA requires proof of health cover for each applicant.

Investment and spent money are two different numbers

When I lay out a budget, I split it in two. The first number is the investment: €500,000 in a fund is still your asset and can come back, with a gain or a loss. The second number is everything that is spent: fees, lawyers, translations, insurance and the fund’s charges. For a family it is the second number that grows, because almost every fee is charged per person while the investment stays the same.

BRIDGES gives its own breakdown in the article on how much the Portugal Golden Visa costs. The steps that follow the payment are in my guide to the application process and documents, and the overall picture is in the complete guide. Last checked 20 October 2026.