Investor interest in Portugal’s golden visa programme has weakened after the government doubled the waiting period for foreign investors seeking Portuguese citizenship, according to fund managers and immigration lawyers, as cited by Bloomberg.
The change, introduced in May, increased the citizenship qualification period for most golden visa holders from five years to 10 years. The measure forms part of Portugal’s efforts to curb immigration as the country’s foreign-born population reaches record levels.
Pedro Lino, chief executive of Optimize Investment Partners, told Bloomberg that around 40 investors, mainly from the United States and Asia, have withdrawn about €20 million from one of the country’s leading golden visa funds since the beginning of the year. He also said new investment has slowed ahead of the rule change.
Optimize's fund attracted around €50 million in fresh investment during the first five months of 2026, compared with €80 million during the same period last year.
