Golden Visa Explorer Investments Editorial Team
Mon, 29 Dec 2025 09:00:00 GMT
Americans in Portugal, Portugal Golden Visa, Moving to Portugal

2026 guide for Americans moving to Portugal: D7 retirement visa, Digital Nomad visa, D2 entrepreneur visa, Portugal Golden Visa €500k fund route for investors, cost of living vs the US, healthcare, taxes, banking, mortgages, best cities for US expats and how CMVM-regulated private equity funds fit into a long-term Portugal and EU residency plan.

Americans in Portugal • 2026 • Golden Visa Funds

Moving to Portugal From the US in 2026: Visas, Cost of Living and Golden Visa Fund Options

By Golden Visa Explorer Investments Editorial Team • Updated January 2026

Political noise, healthcare costs and work-life imbalance mean more Americans are quietly asking a simple question: “What if our Plan B was in Europe?” For many, the answer is Portugal. In 2026, Portugal offers a rare combination of lower living costs than the US, strong public and private healthcare, a friendly culture and multiple visa paths – from the classic D7 retirement visa to the Portugal Golden Visa €500k fund route used by high-net-worth families.

This updated guide is written specifically for Americans moving to Portugal from the US. It covers visas, timelines, taxes, cost of living, mortgages, banking and where CMVM-regulated private equity funds fit into a long-term EU residency strategy.

Table of contents

1. 1. Key takeaways for Americans moving to Portugal in 2026

2. 2. Why more Americans are moving to Portugal

3. 3. How to move to Portugal from the USA: the big picture

4. 4. Top Portugal visa options for US citizens (D7, D8, D2 & Golden Visa)

5. 5. Visa timelines and process for Americans

6. 6. Rights and responsibilities as a US resident in Portugal

7. 7. Can American expats get Portuguese and EU citizenship?

8. 8. Moving from the US to Portugal: 6 practical considerations

9. 9. American expat life in Portugal: what it really feels like

10. 10. Cost of living in Portugal vs the US

11. 11. Housing: rent, buy and mortgages for Americans

12. 12. NIF tax number and opening a Portuguese bank account

13. 13. Taxes for American expats in Portugal

14. 14. Americans retiring in Portugal

15. 15. Pros and cons of living in Portugal as an American

16. 16. Best places to live in Portugal for Americans

17. 17. Where the Portugal Golden Visa fund route fits for US investors

18. 18. FAQs – moving to Portugal from the US

1. Key takeaways for Americans moving to Portugal in 2026

US citizens can stay up to 90 days in 180 as tourists; for full-time living you need a residence visa.

The most common visas for Americans are D7 (retirees & passive income), D8 Digital Nomad, D2 entrepreneur and the Portugal Golden Visa fund route for investors.

Most residence permits are issued for 1–2 years and renewable; the Golden Visa residence card is typically structured over a 5-year horizon.

After 5 years of legal residence, many Americans may apply for permanent residence or Portuguese citizenship (subject to the law in force, language and good-conduct requirements).

Portugal and the US have a double tax treaty; you still file US taxes, but the treaty can mitigate double taxation on the same income.

Portugal’s cost of living is often 30–40% lower than major US cities, especially on healthcare, dining and public transport.

For HNW families, the Golden Visa fund route allows residency with minimal stay requirements through a €500k+ investment in a CMVM-regulated fund, often focused on private equity or real assets.

2. Why more Americans are moving to Portugal

Surveys of US clients show a familiar list of reasons: retirement planning, healthcare costs, political fatigue, housing affordability and a desire for better work-life balance. Portugal addresses many of these in one place:

Lower day-to-day costs than most large US cities;

Universal healthcare with affordable private insurance options;

Strong safety rankings – Portugal is regularly in the global top 10 for peace;

A Mediterranean lifestyle that values family time and community over hustle culture;

A realistic path to EU residency (and possibly citizenship) within one legal framework.

3. How to move to Portugal from the USA: the big picture

Technically, you start with a visa issued in the US (via a Portuguese consulate), enter Portugal, and then convert that visa into a residence permit with AIMA (Agência para a Integração, Migrações e Asilo).

1. Decide whether you will live full-time in Portugal or keep the US as your main base.

2. Pick a visa route: D7, D8, D2 or the Golden Visa fund route.

3. Gather documents: passport, FBI background check, proof of income, health insurance, Portuguese lease or property contract, bank account, NIF tax number, etc.

4. Apply at the Portuguese consulate that covers your US state of residence.

5. Once your visa is issued, travel to Portugal and attend your AIMA appointment for the residence card.

4. Top Portugal visa options for US citizens

4.1. Portugal Golden Visa for Americans – the €500k fund route

The Portugal Golden Visa is a residency-by-investment program. While direct real estate is no longer eligible, Americans can still qualify via:

€500,000+ in a qualifying investment fund (often private equity or venture capital);

€500,000 into research or scientific projects;

€250,000 donation to cultural or heritage projects;

Business and job-creation routes.

In practice, most US investors now choose the €500k fund subscription. It offers a 5-year residence permit with low physical stay requirements and a potential path to Portuguese citizenship if all conditions are met.

For a detailed look at how this route works for Americans, see our dedicated guide: Portugal Golden Visa for International Investors in 2026 – Fund Route & Private Equity .

4.2. D7 Visa – the classic retirement and passive income route

The D7 Visa is the traditional choice for many US retirees and financially independent individuals. It is built for:

Social Security, pension or annuity recipients;

People with rental or investment income;

Those who are willing to live primarily in Portugal.

4.3. D8 Digital Nomad Visa – for remote workers

The D8 visa targets remote workers, freelancers and online entrepreneurs with sufficient income from outside Portugal. It provides:

Legal residence in Portugal while working for US or other foreign clients;

Access to public healthcare over time;

A path to permanent residence or citizenship after five years of legal stay.

4.4. D2 Visa – for entrepreneurs and independent professionals

The D2 visa is for Americans who want to create or expand a business in Portugal. It normally requires:

A credible business plan;

Some capital in a Portuguese bank;

Evidence that the business will create value or jobs in Portugal.

5. Visa timelines and process for Americans

Most Americans can expect a total timeline of 3–12 months from initial planning to having a residence card in hand, depending on the visa route and consulate workload.

D7 and D8 visas: often 2–6 months.

D2 business visa: usually 3–6 months once the business plan and documentation are ready.

Golden Visa fund route: the investment can be executed quickly, but the full process (subscription, application, biometrics and card issuance) typically runs closer to 8–12 months.

6. Rights and responsibilities as a US resident in Portugal

Once you hold a Portuguese residence permit, you gain a set of core rights:

Live in Portugal and travel freely within the Schengen Area for 90/180 days;

Work for a Portuguese employer or be self-employed (depending on visa type);

Access public healthcare and education;

Apply for family reunification so your spouse and dependants can join you.

You also accept some responsibilities, such as keeping your address and civil status updated with authorities, renewing your permit on time and respecting Portugal’s tax and social security rules when applicable.

7. Can American expats get Portuguese and EU citizenship?

Yes – Portugal and the US both allow dual citizenship. Many Americans eventually apply for Portuguese citizenship via:

Naturalization: after five years of legal residence (subject to the law in force), plus a basic Portuguese language exam and clean record.

Marriage: after marrying a Portuguese citizen and meeting the residence and integration criteria.

Descent: where there is a qualifying Portuguese or other EU ancestor.

Golden Visa, D7, D8 and D2 residence permits can all be stepping stones towards naturalization, as long as you meet the residency, language and good-conduct requirements at the time you apply.

8. Moving from the US to Portugal: 6 practical considerations

1. Customs and shipping: get a “Certificado de Bagagem” if you ship household goods; plan 2–4 weeks for sea freight from the East Coast.

2. Storage: research storage units near your future city before shipping.

3. Pets: ensure vaccinations and documentation are in order; pets are generally welcome.

4. Driving: you can usually drive on a US license for a limited period, then swap to a Portuguese license.

5. Healthcare: have private coverage in place upon arrival.

6. Banking and NIF: obtain a Portuguese tax number and open a bank account early in your process.

9. American expat life in Portugal: what it really feels like

Most Americans describe Portugal as easy to love and relatively easy to settle into. The pace is slower than in the US, people are warm, and the culture is strongly family-oriented. Many expats highlight:

A lighter, more social daily rhythm – coffee breaks, long lunches, late dinners;

High levels of perceived safety, even in big cities;

A large and growing US community in Lisbon, Cascais, Porto and the Algarve;

Bureaucracy that can be frustrating, but is survivable with good local support.

10. Cost of living in Portugal vs the US

Portugal is not “cheap” in absolute terms, but compared to major US metros it often feels that way – especially for healthcare, dining out and public transport:

A couple in Lisbon might spend around $2,500/month including rent.

Smaller cities and towns can see this drop closer to $2,000/month or less.

A 1–2 bedroom in Lisbon often runs €700–€1,800 per month depending on the neighbourhood.

In one of Portugal’s smaller cities, similar properties can be dramatically cheaper.

Eating out, groceries, wine and household goods are all typically cheaper than in US coastal cities – while many American expats keep US-level incomes via remote work or pensions.

11. Housing: rent, buy and mortgages for Americans

11.1. Renting

Renting gives flexibility while you “test-drive” regions and neighbourhoods. Landlords usually pay building and condo fees, not tenants. However:

In Lisbon and Porto, long-term rentals can be scarce and competitive;

Landlords may ask for multiple months of rent in advance, and a Portuguese guarantor (“fiador”);

Some older units suffer from poor insulation or humidity – always visit in person.

11.2. Buying and mortgages

For long-term movers or retirees, buying can lock in housing costs and participate in Portugal’s real-asset story. Americans can often obtain mortgages with competitive terms, subject to underwriting.

12. NIF tax number and opening a Portuguese bank account

The NIF (Número de Identificação Fiscal) is your tax ID in Portugal and is essential for almost everything – renting, buying property, opening a bank account, even getting a mobile contract.

1. Obtain your NIF – either as a non-resident with a tax representative, or once you have a Portuguese address.

2. Choose a bank that accepts US citizens under FATCA rules.

3. Take your NIF, passport, proof of address and income to open the account.

13. Taxes for American expats in Portugal

As a US citizen you still file a US tax return every year, even if you live in Portugal. You may also file a Portuguese return if you are tax resident there.

US forms like 1040 and 1116 are commonly used to declare worldwide income and claim foreign tax credits.

The US–Portugal double tax treaty helps prevent being fully taxed twice on the same income.

Portugal’s evolving NHR 2.0 framework can still create planning opportunities for new residents who qualify.

This is one area where specialist advice in both countries is essential – especially for investors and HNW families using the Golden Visa fund route.

14. Americans retiring in Portugal

Portugal has become one of the most popular retirement destinations for Americans in Europe. Key benefits include:

Lower cost of living than most US cities, especially on healthcare and food;

Stable political environment and strong safety record;

Good public healthcare plus affordable private plans;

Multiple residency options – D7, Golden Visa fund route, marriage, etc.

For a retirement-focused deep dive, use this guide together with our article Retiring in Portugal in 2026: Visas, Cost of Living and Golden Visa Funds .

15. Pros and cons of living in Portugal as an American

Pros

High safety, strong sense of community and welcoming culture.

Lower cost of living and healthcare than in most US metros.

Access to the Schengen Area and, potentially, EU citizenship.

Work-life balance, climate and outdoor lifestyle.

Cons

Bureaucracy can be slow and frustrating.

Rental market in Lisbon and Porto can be tight and pricey by local standards.

Local salaries are low compared to US incomes – remote work or savings help.

Some culture shock and homesickness are normal in the first year.

16. Best places to live in Portugal for Americans

Lisbon: cosmopolitan, vibrant, close to beaches, with the largest US community.

Porto: authentic, slightly cheaper, with a strong food and wine culture.

Cascais & Estoril: seaside living 30–40 minutes from Lisbon.

Braga & Coimbra: mid-sized cities with lower costs and strong cultural life.

Algarve (e.g. Lagos, Portimão, Tavira): sun-drenched coastal towns with big expat communities.

Madeira: island life with year-round mild climate and growing expat scene.

17. Where the Portugal Golden Visa fund route fits for US investors

For many US families, the Portugal Golden Visa is not only about a visa – it is about global mobility, portfolio diversification and family planning.

By investing at least €500,000 into a qualifying CMVM-regulated fund, often managed by teams like Explorer Investments, US investors can:

Secure Portuguese and Schengen residency for themselves and eligible family;

Maintain a low physical stay requirement while continuing life and business in the US;

Access diversified exposure to Portuguese real assets and operating businesses rather than a single property;

Keep open a potential path to EU citizenship over the medium term if all conditions are met.

For a detailed look at how Explorer’s private equity strategies fit into American families’ global plans, see: Private Equity & the Portugal Golden Visa: Explorer Investments Guide 2026 .

18. FAQs – moving to Portugal from the US

How much money do you need to move to Portugal from the US?

It depends on your visa and lifestyle. Many Americans budget $9,000–$13,000 for the first-year setup (visas, flights, deposits, furniture) plus a monthly cost of roughly $2,000–$2,500 for a couple in Lisbon.

Can Americans apply for the Portugal Golden Visa?

Yes. The Golden Visa is open to all non-EU nationals, including US citizens, provided they can make a qualifying investment such as the €500k fund route.

Is healthcare in Portugal free?

Public healthcare is heavily subsidised and free for children and seniors. Most residents pay modest co-payments. Private health insurance is also widely used and usually far cheaper than US plans.

How long can a US citizen stay in Portugal?

Without a visa, Americans can stay up to 90 days in any 180-day period in the Schengen Area. With a residence permit (D7, D8, D2, Golden Visa), you can live in Portugal as long as your permit remains valid and you meet renewal conditions.

Can I retire to Portugal from the USA?

Yes. Most American retirees use the D7 visa or the Golden Visa fund route, depending on their income profile and whether they want to live full-time in Portugal or maintain a lower-touch EU base.