Portugal D7 Visa Vs Golden Visa: Which One Is Right For You?
How each visa works
The D7 is a residence visa for people who can support themselves on passive income: pensions, rental income, dividends, royalties. You apply with proof of that income, you get a residence permit, and you’re expected to actually live in Portugal. It’s sometimes called the retirement visa, though you don’t need to be retired to use it.
The Golden Visa, officially the Autorização de Residência para Investimento (ARI), is a residence-by-investment route. You put money into Portugal through one of a small number of approved channels, get a residence permit, and keep the visits to a minimum if you want to. It was built for people who want the right to live in Portugal and eventual EU access without relocating full time.
The core difference: the D7 is about income you already have and wants you physically there. The Golden Visa is about capital you’re willing to commit and barely asks you to show up.
Income and investment requirements
The D7 requires passive income of at least €920 a month for a single applicant, which is 100% of Portugal’s 2026 national minimum wage. Add 50% for a spouse or dependent parent, and 30% for each dependent child. This is verified against msplawyer.io, a Portugal immigration law firm, cross-checked against the legal basis in Law 23/2007 and Portaria 1563/2007. Full detail is on our D7 visa page.
The Golden Visa has no income test. Instead you commit a lump sum through one of these routes, current as of 2026:
- Investment or venture capital funds: €500,000 minimum, into a Portuguese-registered fund with at least 60% invested in Portuguese companies and a minimum 5-year maturity.
- Company investment (capitalisation): €500,000 minimum, invested in an existing or new Portuguese company that creates and maintains at least 5 permanent jobs for 3 years.
- Job creation: no fixed investment minimum, but you must create at least 10 full-time jobs (8 in low-density interior regions).
- Scientific research: €500,000 minimum, contributed to research activity run by a recognised Portuguese institution.
- Cultural heritage and arts: €250,000 minimum (€200,000 in low-density areas), donated to the restoration or maintenance of national cultural heritage or the arts.
Real estate has not qualified since October 2023, when the Mais Habitação reform (Law 56/2023) removed it along with the passive €1.5 million capital-transfer route. Most of our sources, including Portuguese law firms LVP Advogados and Dutra & Ferrari Advogados, and Global Citizen Solutions, agree the capital-transfer route is gone. One law firm site still lists it as active. We’re treating it as closed. Confirm with your own immigration lawyer before assuming otherwise.
We checked these figures against portugalvisalawyer.com, dutraeferrari.com, and lvpadvogados.com, three Portugal-based immigration law firms, plus Global Citizen Solutions. AIMA’s own site (aima.gov.pt) was unreachable during this research, so these figures come from law firm sources rather than the government portal directly. If you’re applying, verify the current minimums with AIMA or your lawyer before committing funds.
Time you have to spend in Portugal
This is where the two visas pull apart hardest.
D7 holders need to actually live in Portugal. You can’t be outside the country for more than 6 consecutive months, or more than 8 months total across any 12-month period. In practice, that means Portugal has to be your base, not a place you visit.
Golden Visa holders need 7 days in Portugal in the first year, then a minimum of 14 days across each following two-year period. That works out to roughly a week a year on average. You can hold Golden Visa residency while living somewhere else entirely.
Path to permanent residency and citizenship
Both routes reach permanent residency at the same point: 5 years of legal residence. That part hasn’t changed for either visa.
Citizenship has changed for both, and recently. Portugal’s parliament passed Organic Law no. 1/2026, signed in May 2026, extending the residence period required before you can apply for naturalization. For applications filed from 19 May 2026 onward, you need 7 years of legal residence if you hold EU or CPLP (Portuguese-speaking country) citizenship, and 10 years for everyone else, up from the previous 5 years. If your application was already filed before that date, you’re assessed under the old 5-year rule. This applies equally whether you got there through the D7 or the Golden Visa, because it’s a change to nationality law, not to either visa’s own rules. Source: Clark Hill (law firm) and Global Citizen Solutions, both reporting on Organic Law no. 1/2026.
One practical difference: because the Golden Visa barely requires your presence, some holders reach the 5-year or 7/10-year mark having spent very little actual time in Portugal. The D7 forces the issue, since you have to live there anyway.
Costs
The D7 costs relatively little beyond the income you already have. Visa and residence permit fees run to a few hundred euros, plus whatever you spend on a lawyer, translations, and travel to a consulate appointment.
The Golden Visa costs are the investment itself, plus fees on top. Government and AIMA fees add up to roughly €17,700 per applicant over 5 years, according to Global Citizen Solutions, covering the initial application, permit issuance, and two renewals. That figure excludes the qualifying investment and any legal or fund management fees, which vary by provider and route. Expect a Golden Visa application, all in, to run well into six figures once the investment is included.
Who each one suits
The D7 suits you if you have steady passive income already, around €920 a month or more for a single applicant, and you actually want to move to Portugal and live there.
The Golden Visa suits you if you have capital to commit, don’t want to relocate full time, and mainly want the residence permit and the path to EU access it opens up. It also suits people who don’t have qualifying passive income but do have investment capital.
Side-by-side comparison
| D7 Visa | Golden Visa (ARI) | |
|---|---|---|
| Basis of eligibility | Passive income | Investment |
| Minimum financial requirement | €920/month (single applicant, 2026) | €250,000 minimum (cultural heritage route); most routes start at €500,000 |
| Minimum days in Portugal per year | Effectively full-time; max 6 consecutive months or 8 months total absence per year | 7 days in year 1, 14 days per 2-year period after |
| Permanent residency | 5 years | 5 years |
| Citizenship (from applications filed 19 May 2026 onward) | 7 years (EU/CPLP), 10 years (others) | 7 years (EU/CPLP), 10 years (others) |
| Relative cost | Low, mainly fees and legal costs | High: investment plus roughly €17,700 in government fees over 5 years, plus legal fees |
| Who it suits | People with passive income who want to actually live in Portugal | People with capital who want residency without relocating full time |
FAQ
Can I switch from a D7 to a Golden Visa, or the other way around? There’s no direct conversion process. You’d apply for the new visa from scratch, meeting its requirements independently. Some people hold D7 status, later make a qualifying investment, and apply for the Golden Visa separately, but check with an immigration lawyer before assuming your existing permit carries over any advantage.
Do I have to choose one or the other? Yes, for the purposes of your residence permit. You qualify under one route at a time. Nothing stops you from later switching strategies if your circumstances change.
Which one is faster to get? Neither is fast right now. D7 applications typically take 6 months or more from your first consulate appointment to receiving your card. Golden Visa applications can take anywhere from about 12 months to over 3 years, depending on the AIMA office and how much of the SEF-era backlog it’s still clearing, according to Global Citizen Solutions.
Does the Golden Visa still allow real estate investment? No. Real estate was removed as a qualifying investment in October 2023 under the Mais Habitação reform (Law 56/2023). Current routes are investment funds, company investment tied to job creation, pure job creation, scientific research, and cultural heritage donations.
Can my family join me under either visa? Yes for both. The D7 requires you to meet a higher combined income threshold for each dependent (50% more for a spouse or dependent parent, 30% more per child). The Golden Visa lets you include your spouse, dependent children, and dependent parents on the same application without a higher investment minimum.
Has the 5-year citizenship timeline changed for people who already hold a D7 or Golden Visa? Permanent residency is still available after 5 years for both. Citizenship itself now takes longer, 7 years for EU/CPLP nationals and 10 years for everyone else, but only for applications filed from 19 May 2026 onward. If you filed before that date, you’re assessed under the previous 5-year rule.
Which one is cheaper overall? The D7, by a wide margin, if you already have qualifying passive income. You’re not committing new capital, only paying visa and legal fees. The Golden Visa requires real money upfront, starting at €250,000, on top of fees.
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