Portugal Golden Visa 2025: The Truth About the Fund Route (Not Real Estate)

Golden Visa Explorer Investments Editorial Team
Tue, 14 Oct 2025 12:00:00 GMT
Golden Visa Portugal, Residency by Investment, Investment Funds

Real estate is no longer the main path for Portugal’s Golden Visa. Learn the truth about the 2025 fund route — how CMVM-regulated investment funds work, the €500K minimum, residency timeline, and why this strategy now leads the way for international investors.

Since the 2023 legal reforms, direct real estate investment no longer qualifies for Portugal’s Golden Visa. This major shift has positioned regulated investment funds as the primary and most strategic pathway for international investors seeking EU residency. If you’re considering the program in 2025, understanding the truth about the fund route is essential.

Unlike the old real estate option, which involved purchasing property, the fund route requires a minimum investment of €500,000 into a qualifying Portuguese investment fund. These funds are regulated by the Portuguese Securities Market Commission (CMVM), ensuring transparency, security, and compliance with EU standards.

How the Fund Route Works

The process is straightforward: applicants subscribe to shares in a CMVM-regulated fund designed for capital appreciation or venture capital. These funds invest in a diversified portfolio of Portuguese companies, driving economic growth in sectors like technology, hospitality, and renewable energy. The investment must be maintained for at least five years, aligning with the minimum residency requirement before applying for citizenship.

Key Benefits of the Fund Route:

1. Compliance and Simplicity: The fund route eliminates the complexities of property acquisition, management, and taxes. The entire process is managed by a professional fund manager.

2. Diversification: Instead of tying capital to a single property, your investment is spread across multiple assets, reducing risk.

3. Professional Management: Your capital is managed by experts with a deep understanding of the Portuguese market, aiming for long-term growth.

4. Clear Path to Residency: The fund investment is a clear, government-approved pathway, simplifying the AIMA (Agency for Integration, Migrations, and Asylum) application process.

For investors seeking a secure, professionally managed, and compliant route to EU residency in 2025, the fund-based Portugal Golden Visa is the definitive modern strategy. It offers not only a path to a second passport but also a sound financial investment in one of Europe's most dynamic economies.