Portugal Raises Golden Visa Minimum To €500,000 For Nigerians

Nigerians interested in securing Portuguese residency through the popular Golden Visa scheme must now commit a minimum of €500,000 (approximately $572,000) in qualifying investments with property purchases completely off the table.

The Portuguese government introduced these tightened rules in stages from early 2022 through late 2023 with further clarifications and final adjustments rolling out in the first quarter of 2026.

The overhaul effectively closed one of the programme’s most attractive routes while making the main remaining option more expensive.

Since the programme’s launch in 2012, real estate investments had dominated, accounting for about 75% of all approvals.

That pathway is now gone. As of October 2023, applicants can no longer qualify by buying residential or commercial property anywhere in Portugal.

The government also scrapped the simpler €1.5 million capital transfer route, which previously allowed straightforward bank deposits. In its place, the minimum investment required for qualifying investment funds rose from €350,000 to €500,000.

These funds must be officially registered with Portugal’s Securities Market Commission (CMVM) and are required to channel at least 60% of their capital into companies headquartered in Portugal. Investors must hold the investment for a minimum of five years.

Alternative routes still exist though they may suit fewer applicants. These include investing €500,000 in scientific research activities, donating €250,000 to approved cultural heritage or artistic projects, setting up a company with a capital of €500,000 while creating at least five new jobs, and directly generating 10 permanent jobs in the country.

Since the property option was removed, the investment fund route has become by far the most common choice for new applicants.

Official data from Portugal’s Agency for Integration, Migration and Asylum (AIMA) shows that 44 Nigerian nationals, together with 77 family dependents, obtained Golden Visas between 2019 and April 2025.

Interest from Nigeria has grown steadily with applications reportedly doubling each year since 2022.

Many attribute this surge to the naira’s depreciation, which has made euro-based residency options more appealing as a hedge against currency volatility.

Among African participants, Nigerians currently rank fifth behind applicants from South Africa, Angola, Egypt, and Morocco. However, momentum from Nigeria had positioned it to potentially climb higher before some of the recent policy shifts.

The changes extend beyond investment thresholds. Portugal previously considered expanding tax benefits for Golden Visa holders through a broad Non-Habitual Resident (NHR) regime that would have offered a 10-year exemption on foreign income and a flat 20% rate on Portuguese-sourced earnings. That proposal was shelved.

In its stead, authorities introduced the narrower Incentivo Fiscal à Investigação Científica e Inovação (IFICI) scheme.

This targets highly skilled professionals working in scientific research, technology, innovation, and certain business development roles, leaving most passive investors without the previous tax perks.

High-earning Nigerians relying on foreign income could now face standard Portuguese income tax rates of up to 48% unless they qualify under the stricter IFICI criteria.

On the citizenship front, Portugal’s parliament voted in October 2025 to extend the residency requirement for naturalisation from five to 10 years for most non-EU and non-CPLP nationals, including Nigerians.

Citizens of CPLP countries such as Angola, Mozambique, and Cape Verde would face a seven-year threshold. That proposal was referred to the Constitutional Court for review and has not yet been enacted. Until a final ruling, the existing five-year residency period for citizenship continues to apply.

If the reform eventually passes, a Nigerian investor who obtains residency in 2026 would need to wait until at least 2036 for eligibility, effectively doubling the previous timeline.

Permanent residency, however, remains accessible after five years under the Golden Visa, with relatively light physical presence rules of just seven days in the first year and 14 days every two years thereafter for renewals.

The updates reflect Portugal’s efforts to balance economic benefits from foreign investment with domestic concerns such as housing affordability, while shifting focus toward investments that support job creation, innovation, and cultural projects.