# Portugal Golden Visa, Built on Real Assets.

Invest EUR 500,000 in a CMVM-regulated venture capital fund and obtain EU residency for your entire family. European residency with a clear citizenship pathway — with only 7 days of residency required per year.

*Last updated: May 27, 2026 · By [Mercan Group of Companies](https://www.mercan.com/our-professional-team/) · Canonical page: https://www.mercan.com/business-immigration/portugal-golden-visa-program/*

- **EUR 500K** Fund investment
- **4,100+** Investor families
- **37+** Years experience

> **Update · May 2026:** On May 3, 2026, Portugal's updated Nationality Law was promulgated by the President of the Republic. The Portugal Golden Visa Program remains unchanged from a residency perspective; the pathway to citizenship has been formally adjusted to a 10-year timeline.

## Verifiable credentials

- CMVM Fund #2331 ([Verify on CMVM.pt](https://www.cmvm.pt/PInstitucional/Content?Input=F438D65FB10F23FD7484DBF046C20CA25C183303552E563E7A8C089905F1086D))
- 4,100+ Families Approved ([About Mercan](https://www.mercan.com/who-we-are/))
- EUR 2B+ Deployed Since 2015 ([Browse projects](https://www.mercan.com/our-projects/))

## Key takeaways

- EUR 500,000 minimum investment into a CMVM-regulated venture capital fund.
- Only 7 days per year residency required (or 14 days every two years) — one of the lowest in Europe.
- Family inclusion at no additional cost: spouse, dependent children (up to 26 if studying), and dependent parents all included.
- Permanent residency available after 5 years of legal residence, with Portuguese citizenship via a 10-year residency timeline (per the May 2026 Nationality Law update) and an A2-level Portuguese language test.
- Mercan Hospitality Fund offers zero management fees, 2% fixed annual yield, and 100% buyback at Year 6 (window through Year 12) structured into the fund terms (subject to fund documents — see disclaimer).

## Why investors choose Portugal

- **Clear pathway to EU citizenship.** A structured route to a Portuguese passport — permanent residency available after 5 years of legal residence, citizenship via a 10-year residency timeline.
- **Minimal residency burden.** Only 7 days per year required. Maintain your primary residence and career elsewhere while building toward EU rights.
- **Family-wide coverage.** Single investment covers spouse, dependent children, and parents. Every family member receives identical residency rights.
- **Visa-free Schengen travel.** Your residence card grants immediate access to 29 European countries. Citizenship unlocks full EU labor mobility.
- **Favourable tax treatment.** Holding a Golden Visa does not trigger Portuguese tax residency if you spend less than 183 days per year in Portugal.
- **One of Europe's strongest passports.** A Portuguese passport provides visa-free or visa-on-arrival access to the majority of the world's destinations and full freedom of movement across the European Union.

## Inside the Mercan Hospitality Fund

Click any card for full project details, investment size, ownership, amenities, and location benefits.

**Your €500K is diversified across 3 premium assets** A €121M fund managed by experienced hospitality operators

### Hotel Indigo Albufeira
InterContinental Hotels Group · Algarve, Portugal · Operating

A 4-star boutique hotel in the heart of Albufeira with views over Praia dos Pescadores. Walking distance to the marina and beach.

- **Investment:** €21M
- **Ownership:** 90%
- **Capacity:** 80 Rooms
- **Share of fund:** 17%
- 4-star Boutique Hotel
- Praia dos Pescadores Views
- Walking Distance to Marina

### Quinta da Praia
Residence Inn by Marriott · Alvor, Algarve, Portugal · Under Development

An all-suite Residence Inn by Marriott development in Alvor, the largest asset in the fund by allocation, with a mix of long-stay apartments, leisure amenities and sea-facing courtyards.

- **Investment:** €55M
- **Ownership:** 90%
- **Capacity:** 197 Units
- **Share of fund:** 45%
- Residence Inn by Marriott
- All-suite apartments
- Long-stay focus

### Corfu Acharavi Hotel
Wyndham Hotels & Resorts · Corfu, Greece · Operating

A beachfront Wyndham resort on the north coast of Corfu with fine-dining restaurants, extensive pool complex and a full-service spa, the fund's Greek diversification anchor.

- **Investment:** €45M
- **Ownership:** 90%
- **Capacity:** 150+ Rooms
- **Share of fund:** 37%
- Wyndham-branded resort
- Beachfront location
- Full-service spa

## Eligibility requirements

Open to non-EU/EEA/Swiss nationals aged 18 and over with a clean criminal record and qualifying investment.

1. **Non-EU, EEA or Swiss citizen.** Open exclusively to third-country nationals. EU, EEA and Swiss citizens already enjoy freedom of movement and do not qualify for the program.
2. **Minimum age 18.** All primary applicants must be adults. There is no maximum age. Children qualify only as dependents included under the primary applicant's investment.
3. **Clean criminal record.** Police clearance certificates required from your country of origin and any country of residence in the last 5 years. Portugal runs independent security vetting.
4. **Qualifying investment.** EUR 500,000 into a CMVM-regulated venture capital fund, OR EUR 500,000 into a business creating 5+ jobs, OR EUR 250,000 into cultural heritage donation, OR EUR 500,000 into research funds.
5. **Minimum stay commitment.** Demonstrate intent to visit Portugal: 7 days in Year 1, then 14 days per two-year period. Travel records (flights, hotels) serve as proof during renewal.

## How the application works

Mercan manages every step, from fund subscription to final card delivery. Typical end-to-end timeline: 12-25 months.

1. **Bank setup and tax identification** (2–4 weeks). Open a Portuguese bank account (often remotely via a legal representative) and obtain your NIF tax number. Mercan's legal team handles both from the Montreal office.
2. **Document compilation** (4–6 weeks). Gather police clearance certificates, passport copies, proof of health insurance, and supporting application documents. Mercan provides a detailed checklist and assists with notarization and translations.
3. **Fund subscription** (1–2 weeks). Subscribe to the Mercan Hospitality Fund, review subscription documents, and transfer EUR 500,000 to the fund's designated account. Receive your official subscription certificate as proof of investment.
4. **AIMA submission and biometrics** (12–24 months). Mercan files your Golden Visa application via AIMA's ARI portal. AIMA pre-approves in principle, schedules your biometric appointment in Portugal (a 3–5 day trip), then issues final approval and the residence card.
5. **Citizenship application** (6–12 months). After a 10-year residency period (counted from the date your residence permit is issued, per the May 2026 Nationality Law update), apply for Portuguese citizenship. Requires A2 Portuguese language certificate, clean record, and good standing. Dual citizenship is permitted. Permanent residency remains available after 5 years of legal residence.

## Portugal vs. other golden visa programs

| Feature | Portugal | Greece | Panama |
| --- | --- | --- | --- |
| Minimum investment | EUR 500K | EUR 250K | USD 300K |
| Path to citizenship | 10 years | 7 years | 5 years |
| Residency required | 7 days/year | None | 1 visit every 2 years |
| EU residency | Yes | Yes | No |
| Family included | Yes | Yes | Yes |
| Processing time | 12-25 months | 4-8 months | 30 days |

## Frequently asked questions

Straight answers to the questions Mercan advisors hear most often about the Portugal Golden Visa.

### How much do I need to invest?

EUR 500,000 for the fund investment route, EUR 500,000 for business creation (with 5 new jobs), EUR 500,000 for research donations, or EUR 250,000 for cultural heritage donations. The fund route is the most popular and the one Mercan offers directly.

### Who can be included as family?

Your spouse or legal partner, unmarried dependent children (including adult children up to age 26 if they are full-time students), and dependent parents of both the main applicant and spouse. Same-sex spouses are recognized equally. Every family member receives identical residency rights and the same path to citizenship.

### How long is the residency requirement?

You only need to spend 7 days in Portugal per year, averaged as 14 days over any two-year period. This is one of the lowest residency requirements of any golden visa program globally — you can maintain your primary home, career, and tax residency elsewhere.

### How long does the application process take?

Typically 12 to 25 months from application submission to residency card delivery. This includes 6 to 12 months for pre-approval, biometrics scheduling, in-person biometric appointment in Portugal, and final AIMA approval. Mercan manages every step.

### Can I get Portuguese citizenship?

Yes. Following Portugal's May 2026 Nationality Law update, the pathway to Portuguese citizenship is a 10-year residency timeline (counted from the date your residence permit is issued, per current indications and subject to final regulation). You will need to pass an A2 level Portuguese language test, maintain a clean criminal record, and meet standing requirements. Portugal allows dual citizenship, so you do not need to renounce your existing nationality. Permanent residency remains available after 5 years of legal residence.

### What are the benefits of EU residency through Portugal?

Visa-free travel across the 29 Schengen countries, the right to live and work anywhere in the EU after citizenship, access to Portuguese healthcare and education, and favourable tax treatment for non-residents. The Portuguese passport ranks among the top 5 globally.

### Is my investment protected?

The Mercan Hospitality Fund is regulated by the CMVM — Portugal's securities market commission, equivalent to the SEC in the US. The fund invests in tangible hotel operating companies run by InterContinental Hotels Group, Marriott, and Wyndham. Mercan's fund uniquely offers a 100% capital guarantee at Year 6.

## Government sources and regulators

- [CMVM — Portuguese Securities Market Commission](https://www.cmvm.pt/PInstitucional/Content?Input=F438D65FB10F23FD7484DBF046C20CA25C183303552E563E7A8C089905F1086D): The regulator that oversees the Mercan Hospitality Fund and every other venture capital fund eligible for Portugal Golden Visa investment.
- [AIMA — Portuguese Immigration and Borders Agency](https://www.aima.gov.pt): The authority that processes Portugal Golden Visa applications (the successor to SEF since 2023).
- [Portugal Government Portal](https://www.portugal.gov.pt): Official information on the 2023 'Mais Habitação' housing law that reshaped the Golden Visa program.

## Investment risk disclaimer

Investing in the Mercan Hospitality Fund is speculative and suitable only for experienced investors who understand the associated risks. These can include loss of all or a substantial portion of the investment, lack of liquidity in that there may be no secondary market for fund interests, restrictions on transferring interests, and potential lack of diversification. Any decision to invest should be made only after reviewing the full fund documents and consulting your own legal, accounting, and tax advisors. Mercan does not provide investment advice. The Fund is not registered with the U.S. Securities and Exchange Commission and is not offered to U.S. persons under the U.S. Securities Act of 1933. Forward-looking statements in this material may prove inaccurate due to changing market conditions.

## Explore other programs

- [Greece Golden Visa](https://www.mercan.com/greece-golden-visa/)
- [Panama Qualified Investor Program](https://www.mercan.com/panama-qualified-investor-program/)

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Source: Mercan Group of Companies (https://www.mercan.com). Full page: https://www.mercan.com/business-immigration/portugal-golden-visa-program/