Moving to Portugal From the US in 2026: visas, cost of living and Golden Visa fund options

1. Key takeaways for Americans moving to Portugal in 2026

US citizens can visit Portugal for up to 90 days with no visa. But if your goal is to live in Portugal – whether as a digital nomad, retiree, entrepreneur or investor – you will need a residence visa and permit.

• The main routes are: D7 (retirement / passive income), D8 (Digital Nomad), D2 (business / entrepreneur) and the Portugal Golden Visa fund route for investors.
• Most permits require you to live in Portugal most of the year; the Golden Visa is different, with much lower stay requirements.
• Many Americans budget roughly $9,000–$13,000 for first-year setup costs and around $2,000–2,500/month for a couple in Lisbon.
• Both the US and Portugal allow dual citizenship, so a well-structured move can eventually deliver a second passport without giving up your US one.

2. Why more Americans are moving to Portugal

In conversations with US investors and families, the same themes keep coming up:

• Cost of living: housing, healthcare and daily life are more manageable than in many US cities.
• Healthcare: universal coverage and affordable private insurance, instead of unpredictable US medical bills.
• Stability and safety: Portugal is consistently in the global top 10 for peace and security.
• Work-life balance: a slower pace, strong family focus and café culture rather than 24/7 hustle.
• EU option: a clear path to EU residency and possibly citizenship for those who want it.

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

The move happens in two stages: first through the Portuguese consulate in the US, then inside Portugal with AIMA.

1. Decide on your lifestyle: full-time in Portugal (D7, D8, D2) or flexible base (Golden Visa fund route).
2. Choose the visa category and prepare documentation (income, insurance, background checks, lease, NIF, etc.).
3. Apply at the Portuguese consulate covering your state of residence.
4. Once approved, travel to Portugal and attend your AIMA appointment.
5. Receive your residence card and register for healthcare, tax, etc.

4. Visa options for US citizens: D7, D8, D2 & Golden Visa

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

The Portugal Golden Visa is a residency-by-investment programme. Real estate no longer qualifies, but Americans can still invest via:

• €500,000+ into a qualifying CMVM-regulated fund (typically private equity or real-asset strategies);
• €500,000 into research or science projects;
• €250,000 donation to cultural or artistic projects;
• Business and job-creation routes.

The fund route is what most US investors choose today. It offers a five-year residence horizon with minimal physical stay requirements and a potential path to Portuguese citizenship if all criteria are met.

For a deeper dive into private equity and Golden Visa, see Private Equity & the Portugal Golden Visa: Explorer Investments Guide 2026.

4.2. D7 – retirement and passive income visa

The D7 visa is ideal if you have stable passive income (Social Security, pensions, rentals, investments) and are ready to live primarily in Portugal.

4.3. D8 – Digital Nomad visa

The D8 visa is for remote workers, freelancers and online entrepreneurs. You can keep your US employer or clients while living in Portugal, as long as your income meets the threshold.

4.4. D2 – entrepreneur visa

The D2 visa is for Americans who want to set up or buy a business in Portugal. Expect to present a business plan and show capital and economic benefit to Portugal.

5. Timelines and process for Americans

Realistic total timelines (from planning to residence card in hand) are:

• D7 / D8: around 2–6 months, depending on consulate and documentation.
• D2: 3–6 months once your business plan and supporting documents are ready.
• Golden Visa fund route: 8–12 months, accounting for fund subscription, application, biometrics and card issuance.

6. Route to Portuguese and EU citizenship

Both Portugal and the US allow dual nationality. In broad terms, naturalization usually requires:

• Around five years of legal residence (counted from your first permit, subject to the law in force when you apply);
• Passing an A2 Portuguese language exam or equivalent proof;
• A clean criminal record and evidence of integration.

D7, D8, D2 and the Golden Visa can all be used as the immigration “engine” towards citizenship, provided you meet the residence and language conditions.

7. Cost of living in Portugal vs the US

Portugal remains substantially cheaper than most US coastal metros:

• A couple in Lisbon may spend around $2,500/month including rent; smaller cities can be closer to $2,000.
• Groceries and eating out are significantly cheaper – a simple local meal often costs €10–12 per person; a good bottle of wine €5–7.
• Public transport is inexpensive and efficient enough that many expats skip owning a car, especially in Lisbon, Porto and Cascais.

8. Housing: rent, buy and mortgages for US citizens

8.1. Renting

Renting is usually the first step for American newcomers. It gives you time to test different areas and understand the market. Just be aware that:

• Lisbon and Porto can be tight markets, with rising prices and high demand.
• Landlords often ask for 2 months deposit + 2 months rent (or more without a Portuguese guarantor).
• Older properties may lack central heating and good insulation – visit in person and ask questions.

8.2. Buying and mortgages

If you intend to stay long term or retire in Portugal, buying can fix housing costs and give you an asset in euros. US citizens can often get mortgages, subject to bank underwriting and FATCA compliance.

9. Taxes for American expats in Portugal

US citizens always file a US tax return, even when living abroad. If you become Portuguese tax resident, you may also file a Portuguese return.

• The US–Portugal tax treaty and foreign tax credits can mitigate double taxation.
• Portugal’s newer NHR 2.0 regime still provides some favourable treatment for certain types of foreign income, if you qualify.
• For Golden Visa fund investors, careful planning can align residency, investment and tax outcomes across both jurisdictions.

10. Best places in Portugal for Americans

Lisbon

A compact capital with historic neighbourhoods, a big expat community, strong tech and startup scene, and great access to beaches and an international airport.

Porto

More traditional, slightly cooler and wetter than Lisbon, but with lower costs and a strong sense of authenticity along the Douro river.

Cascais & Estoril

Seaside towns 30–40 minutes from Lisbon, popular with families and retirees for their quality of life, international schools and proximity to the capital.

Algarve (Lagos, Portimão, Tavira)

Classic beach lifestyle with big expat communities and a very mild climate, particularly attractive for US retirees.

Braga, Coimbra & Madeira

Mid-sized cities and an island option offering lower costs, strong community and, in Madeira’s case, year-round spring-like weather.

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

For many US investors, Portugal’s Golden Visa is a global mobility and portfolio tool, not just an immigration stamp.

By investing €500,000+ into a CMVM-regulated fund, often managed by firms like Explorer Investments, you can:

• Secure residency for yourself and eligible family members with low physical stay requirements.
• Gain diversified exposure to Portuguese real assets, tourism platforms and companies instead of a single property.
• Keep open a potential path to EU citizenship over the medium term, subject to meeting residence and language criteria.

To understand how this fits into an American family’s broader plan, use this article together with our opinion piece I Looked at Pros & Cons of Portugal’s Golden Visa – 2026 Opinion.

12. FAQs – moving to Portugal from the US

Whether you are exploring the Portugal Golden Visa for EU residency or you simply want to allocate capital to private equity funds in Portugal, our Investor Relations team can help. We will walk you through CMVM-regulated fund options, clarify how they work for residency and for pure investment, and coordinate with trusted immigration and tax advisers. Schedule your confidential, no-obligation strategy call today.

André Bandeira

ab@explorerinvestments.com

Maria Campos Silva

mcs@explorerinvestments.com

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