When Portugal removed real estate investments from its Golden Visa program in 2023, many critics claimed the program was ending. Some even suggested that Portugal had shut the program down completely.
But here’s the truth—Portugal’s Golden Visa still remains in 2025, one of the best residency-by-investment programs in the world.
Yes, the rules have changed, but they’ve actually made the program more flexible, less risky, and better aligned with long-term investment strategies. Let’s break down the most common myths surrounding these changes and why Portugal’s Golden Visa is stronger than ever in 2025.
(Check out our Portugal Golden Visa Guide for a full program overview, including updated investment routes.)
Myth #1: “Portugal Golden Visa is Ending”
Many headlines and social media discussions painted a misleading picture, claiming Portugal had completely shut down its Golden Visa program.
Reality: The Portuguese Golden Visa Is Still Active and Thriving
The program is still running in 2025, offering foreign investors a pathway to EU residency. You can still get Portuguese citizenship in 5 years, with only a 7-day annual stay requirement. Investment options, including private equity funds, research projects, and business ventures, remain available.
The only major change? Real estate is no longer a qualifying investment. Instead, Portugal has shifted towards investments that better support economic growth, innovation, and sustainability.
Myth #2: “The Golden Visa Is No Longer Worth It”
Without real estate, some investors assume that the Portugal Golden Visa has lost its value. But in reality, it’s still one of the world's most attractive investment migration programs.
Reality: Portugal’s Golden Visa Remains One of the Best in Europe
Schengen Access – A Portugal Golden Visa grants you visa-free travel across 27 EU countries.
Favorable Residency Requirements – You only need to spend 7 days per year in Portugal.
Pathway to Citizenship – After 5 years, you can apply for a Portuguese passport—one of the shortest timelines in Europe.
Portugal’s political stability, strong economy, and high quality of life make it a top-tier choice for global investors, even without real estate.
(For more on the 2025 Golden Visa updates and why the Portuguese Golden Visa remains a great option, read our latest insights: Portugal Golden Visa 2025: What You Need to Know.)
Myth #3: “Investment Funds Are Risky and Complicated”
A common concern is that private equity funds are too complex or risky compared to buying real estate. However, this couldn’t be further from the truth.
Reality: Investment Funds Offer More Flexibility and Lower Risk
Unlike real estate, investment funds provide a smarter, hands-off approach to residency-by-investment. Here’s why:
1. Easier to Exit
Real estate can take months (or even years) to sell, especially during market downturns. Funds are more liquid, allowing investors to withdraw their money more easily when needed.
2. Professionally Managed
Experienced professionals who make strategic investment decisions run private equity and venture capital funds. Investors don’t have to worry about property maintenance, tenant issues, or rental market fluctuations.
3. Lower Costs, Higher Returns
Owning real estate comes with high taxes, legal fees, and maintenance costs. Investment funds eliminate these headaches and often deliver higher returns over time with a diversified portfolio.
4. Secure and Regulated
Portuguese investment funds are regulated by the Portuguese Securities Market Commission (CMVM), ensuring compliance and investor protection. Many funds invest in high-growth sectors like technology, healthcare, and renewable energy.
Rather than tying all capital into one property, investors can diversify across multiple industries—reducing risk while qualifying for the Golden Visa.
Myth #4: “Real Estate Was the Best Option”
Many investors originally considered buying property the safest, most straightforward way to qualify for the Portuguese Golden Visa Program. But was it really the best investment option?
Reality: Real Estate Had Hidden Risks and Drawbacks
While real estate was popular, it wasn’t always the smartest choice. Here’s why:
1. Illiquidity & Exit Challenges
Selling property in Portugal isn’t always easy. The real estate market fluctuates, and resale timelines can be unpredictable. Many investors found themselves stuck with properties they no longer wanted.
2. High Additional Costs
Beyond the initial purchase price, investors had to factor in:
Property taxes
Maintenance and repairs
Legal fees and transaction costs
Potential rental market instability
These hidden expenses often reduce the actual return on investment.
3. Regulatory Uncertainty
The Portuguese government has tightened regulations on short-term rentals, making it harder for foreign investors to profit from Airbnb-style properties. Some regions now have rental restrictions, making real estate investments less attractive than before.
Final Verdict: Portugal's 2025 Golden Visa Program Is Stronger Than Ever
Despite initial concerns, the 2023 Golden Visa reforms have actually strengthened the program.
By shifting focus toward investment funds and innovation-driven projects, Portugal is attracting higher-quality, long-term investors.
A more flexible, diversified investment pathway
No need to deal with property market risks
Still the fastest route to Portuguese citizenship (5 years!)
Same Schengen access, tax benefits, and lifestyle perks
For investors looking for a strategic, hassle-free way to secure EU residency, Portugal’s Golden Visa remains the best choice in 2025.
Want to Explore the Best Golden Visa Investment Options?
At YPT Golden Visa & Investment, we are experts in private equity funds and strategic investment solutions for Portugal’s Golden Visa program. Our team provides in-depth knowledge, exclusive fund opportunities, and personalized guidance to help you make a secure, high-return investment while obtaining EU residency.
Contact our experts today for a personalized consultation!