Volatile world, stable Plan B:why Portugal’s Golden Visa matters for investors from Venezuela, Iran and the US in 2026

A decade of volatility: Venezuela, Iran, US politics and beyond

CNN Travel’s report on the “global rush for second passports” notes that demand is no longer driven only by residents of obviously fragile states. Today, US, UK and other advanced-economy citizens are joining Venezuelans, Iranians and others in quietly securing backup residencies and citizenships as insurance against political and economic shocks.

For families in long-term crises – whether sanctions pressure, currency collapse, capital controls or chronic instability – this instinct is familiar. What has changed is that more investors now treat a second residency like any other risk tool: part of a diversified portfolio of options.

The core question is no longer “Will everything go wrong?” but “What do I want my family’s options to look like if it does?”

Why separating life and capital across borders matters

For investors from countries facing inflation, capital controls or institutional uncertainty, concentrating everything – business, property, bank accounts, passports – inside one system can be a single point of failure.

• Capital diversification: holding part of your wealth in a stable, rules-based jurisdiction can reduce exposure to local shocks, expropriation risk or banking crises.
• Mobility diversification: residency or a future passport in another country gives you and your children options if travel restrictions, sanctions or political changes affect your home passport.
• Lifestyle diversification: access to schooling, healthcare and work rights in another region can be priceless if instability escalates.

That is why the second-passport trend that CNN describes as “grab what you can” is not just a luxury play for billionaires. It is increasingly a structured risk-management decision for upper-middle class families in Caracas, Tehran, Los Angeles or London.

Portugal’s edge: EU rule of law plus residency-by-investment

European authorities have cracked down on pure “golden passport” schemes that sold citizenship with minimal checks. Several programmes in the EU have been closed or radically reformed. Yet Portugal’s Golden Visa has remained in place – reshaped, but not dismantled.

For investors from unstable regions, Portugal offers a distinctive combination:

• EU legal order – independent courts, constitutional oversight and transparent rules;
• Multiple residency routes – investment-based (Golden Visa) and income-based (D7, D8);
• Low minimum stay for Golden Visa – historically around a few days per year, suitable for those who cannot yet relocate full-time;
• Potential path to citizenship – subject to evolving residency rules, language and good-conduct requirements;
• Schengen access – freedom to move within much of the EU once resident.

Unlike some Caribbean schemes, Portugal’s model has been built and refined inside the EU and OECD framework. That makes it slower and more bureaucratic – but also more likely to be durable.

For a deeper dive into how Portugal fits the global second-passport trend, see our article “Global rush for second passports: where Portugal fits in 2026”.

Golden Visa vs D7 vs D8 – different tools for different families

Portugal doesn’t offer just one “Plan B” – it offers a menu. The right choice depends on your risk profile, mobility needs and appetite to relocate.

Golden Visa – for capital-rich, time-poor investors

The modern Golden Visa focuses on qualifying investment funds, research, culture or job-creating business investment. It typically suits:

• Families who want EU residency but cannot live in Portugal full-time yet;
• Investors comfortable allocating €500,000+ into regulated funds with real risk and multi-year lock-ups;
• Those thinking multi-generationally about mobility and asset diversification.

D7 – for retirees and passive-income households

The D7 visa is often the most efficient route for Venezuelan, Iranian or US retirees who actually want to live in Portugal. It is based on demonstrating regular passive income (pensions, investments, rentals, etc.) and a realistic budget.

D8 – for remote workers and online entrepreneurs

The D8 “digital nomad” visa targets remote employees and location-independent business owners. For younger professionals from unstable regions, it can be a way to move life to Portugal while keeping global clients or employers.

If you are an American specifically, our guide “Work, Invest or Retire: How Americans Can Really Move to Portugal in 2026” compares these options in more detail.

Who this strategy really suits (and who it doesn’t)

A Portugal-focused Plan B is strongest when:

• You have genuine concern about the long-term stability of your home system (political, economic or both);
• You can allocate either stable income (D7/D8) or meaningful capital (Golden Visa) without jeopardising core security back home;
• You value legal process and predictability over quick but fragile shortcuts.

It is usually not the right solution if your priority is rapid returns on investment, speculative real-estate flipping, or an instant EU passport with no long-term commitments. Portugal’s model rewards patience, compliance and clear planning.

Practical next steps for 2026 planning

If you are watching events in Venezuela, Iran, the US or elsewhere and thinking “we need a Plan B”, the most important step is to move from vague anxiety to concrete planning:

• Clarify your goal: permanent move, optional EU base, or mainly a mobility / education hedge for the next generation?
• Choose your tool: income-driven (D7/D8) or investment-driven (Golden Visa) – or a staged approach.
• Engage regulated professionals: immigration lawyers, tax advisers in both countries, and for Golden Visa, CMVM-regulated fund managers.
• Assume rules will change: build flexibility into your plans so you are not paralysed every time Parliament debates a new proposal.

None of this replaces the need to fix problems at home. But in a world where volatility is becoming the baseline, having a Portuguese residency card – and eventually, perhaps, an EU passport – can be one of the most quietly powerful assets your family owns.

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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