Portugal’s parliament is set to debate proposed changes to its nationality and immigration laws this week — reforms that could reshape the route to citizenship for foreign residents, including participants in the Golden Visa residency-by-investment programme.
However, legal and investment experts argue that the impact on the Golden Visa’s appeal will be minimal, with the reforms merely aligning Portugal’s system more closely with other EU nations.
Although no final decision has been reached, lawmakers are discussing extending the naturalisation period and tightening integration standards — a move drawing close scrutiny from investors.
At present, foreign residents may apply for Portuguese citizenship after five years of legal residence. Under the draft legislation, that timeline would increase to ten years for most applicants, and to seven years for citizens of Portuguese-speaking countries.
Legal analysts anticipate that any reforms will include transitional protections for current residents and pending visa applications, reflecting the government’s previous commitments to maintain programme stability.
Diogo Capela, partner at Portuguese immigration law firm Lamares, Capela & Associados, said:
“We are closely watching the parliamentary proposals, but my view is that the government is trying to protect Golden Visa holders from certain legislative restrictions, particularly with regard to family reunification, which will remain intact for them.
"As for the deadline for obtaining Portuguese nationality, it is still too early to say whether or not it will actually be changed, as this topic has not even been discussed in parliament yet.
"So far, only legislative changes to the Immigration Law have been debated. Changes to the Nationality Law will be debated in the future.”
To speak to Golden Visa experts and advisors, contact Portugal Pathways here.
While such a shift would affect Golden Visa participants, it’s worth noting that the reforms concern the pathway to citizenship rather than the Golden Visa programme itself.
The Golden Visa remains robust in 2025, continuing to adapt after the real estate investment route was abolished in October 2023. Applicants can now qualify by investing in Portuguese funds, establishing businesses, or supporting cultural initiatives.
Steve Philp, Director at Portugal Pathways, said:
“We’re not seeing any slowdown in interest or motivation for Portugal’s Golden Visa.
"In reality, the full journey to a second passport and EU citizenship typically takes around seven years – five years under the Golden Visa and roughly another 18 months to process the citizenship application.
"If the timeline changes from five to 10 years, this will have little impact on investors and simply bring it more in line with other EU countries.
"Many of our clients, especially from the US, view this as their ‘Plan B’ and are more than happy to maintain and renew their Golden Visa so they can freely travel across the 29 Schengen countries.
"If anything, we’re seeing more people accelerating their plans, not delaying them.”
Paul Stannard, Chairman and Founder of the Portugal Investment Owners Club, added:
“Dollar and euro-denominated private equity funds linked to Portugal’s Golden Visa have consistently outperformed both public and private market benchmarks — and there’s nothing in the current trajectory to suggest that will change.
"Investors continue to view Portugal as a stable and strategic pathway for diversification, long-term returns, and EU residency flexibility.”
Among other proposals, lawmakers are considering a change to when the “residency clock” begins — basing it on the date a residence permit is issued rather than when the application is submitted.
Updated integration requirements, including advanced language and civic knowledge tests, are also under review.
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A revised version of Portugal’s broader immigration law, covering areas such as family reunification and work permits, passed through parliament on 30 September 2025 after being reworked in response to a presidential veto and a Constitutional Court ruling. The specific citizenship reforms, however, remain under debate.
For investors, the message so far is one of continuity. Golden Visa rights and renewals remain unaffected, and applications lodged under the current legal framework should still be valid.
The main question mark lies in a potential extension to the citizenship waiting period. Those who apply before new rules take effect are expected to be “grandfathered” under the existing system — though the final legal wording will be key.
The reform process is likely to continue through committee reviews and plenary sessions into late 2025, followed by possible scrutiny from the president or Constitutional Court.
Given Portugal’s dependence on foreign investment and past judicial interventions, any final law is expected to balance tighter controls with investor reassurance.
For now, advisers are urging potential applicants to stay informed and act promptly while parliament finalises the legislation.
About Portugal Investment Owners Club
The Portugal Investment Owners Club, or P Club for short, is a unique investor membership community designed for discerning individuals, families, and organisations committed to exploring and capitalising on life in Portugal and enjoying money-can't-buy experiences and exclusive events.
About Portugal Pathways
Portugal Pathways has supported hundreds of Golden Visa residency-by-investment applications and provides expert guidance through its professional supply chain network on luxury property, wealth management, and tax optimisation, including post-NHR tax regime planning, as well as private healthcare, IFICI tax incentive applications, money transfers and bespoke relocation solutions to enhance life and investments in Portugal.
Disclaimer: The information on the Portugal Pathways and Portugal Investment Owners Club (P Club for short) websites and in email communications is for general informational purposes only and should not be construed as legal, tax, or financial advice. You should consult and check with a qualified professional advisor before relying on any information provided on this website or in email communications. As it relates to investments in Golden Visas or other wealth management solutions offered by regulated and professional advisors, it is important to note that past performance is no guarantee of future returns. Private equities can be highly illiquid and come with risk and should always be under professional independent advice. Golden Visa investments need to be held for 6 to 7 years to allow for permanent citizenship/passport in the EU.
