Last Chance for Americans to Get a Portuguese Golden Visa?
Since Trump was elected in November 2024, the American economy hasn’t been stable. This is primarily driven by tariffs, causing what many say is a “trade war”.
Though these are “protectionist” measures, they’ve had quite the adverse effects in the short term. Countries worldwide are retaliating, putting a strain on the U.S. dollar, causing the cost of goods to increase, etc.
Because of this, many American business owners, retirees, and investors are looking for a “Plan B”. And what is the “Plan B” of choice for many? Portugal.
However, this is soon going to change. It might even be the last chance for Americans to get access to the Portuguese Golden Visa we know today. If an American wants access to the current Golden Visa rules, they need to act now.
Why the Days Are Numbered for Portugal’s Golden Visa
Rising Costs for American Investors
The tariffs have temporarily weakened the dollar against the euro. Since November 2024 till now (April 2025), the value of the dollar compared to the euro has dropped by 10%. This 10% decrease in value increases the minimum investment required.
Let’s say you wanted to invest in a qualifying fund. This requires a minimum investment of €500,000. At the start of last year (2024), the euro and dollar were almost neck-and-neck. €500,000 for $500,000. However, currently, it’s around $510,000 for €500,000.
This isn’t the only price increase, either. The paperwork required, lawyers needed, etc., will likely be paid in euros. Due to the dollar being weaker, all of these services will cost around 10% more than they did early last year.
Residency Requirements May Get Stricter Soon
Alongside the economic headwinds, there could be considerable changes to the residency requirement for the Golden Visa very soon.
Currently, this is what makes the Portuguese Golden Visa attractive. With it, you only need to stay, on average, 7 days a year in the country each year for 5 years to gain residency or citizenship.
This uncertainty comes after the recent Portuguese government collapse in March 2025. And currently, several parties want to tighten the physical stay requirements in Portugal, with some suggesting a required 6 months per year instead of an average of 7 days.
Luckily, Portugal is known for its grandfathering clauses. They did this with the recent stoppage of the Non-Habitual Resident (NHR) tax regime, so it’s assumed they’ll do it for the Golden Visa as well.
The EU Is Cracking Down on Golden Visa Programs
Nowadays, there are very few EU countries offering a Golden Visa program and those who do have unfavourable requirements. This is due to the countries not wanting to offer them, as well as the EU cracking down on certain programs.
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Malta, for example, just had to terminate their cash-for-citizenship program. The European Court of Justice thought it was violating the integrity of EU citizenship, but essentially “giving away” EU visas to investors.
This isn’t the first time this has happened, either. Ireland, Cyprus, and many other EU countries terminated their Golden Visa program due to EU pressure. Whether this happens to Portugal is just a matter of time.
Why Americans Need to Act Now
Currently, the Portuguese Golden Visa is the best option for Americans wanting to establish EU residency or citizenship. How long it will remain like this, however, is unknown.
Because of this, Americans interested in securing a second passport or a life abroad need to act fast and now. Failing to do so may result in a missed opportunity, something that may never return.
Right now might be the last time to secure a Golden Visa under favourable conditions. If you start the application process now, you’ll be “grandfathered in” under the current law, so future crackdowns, if they occur, shouldn’t affect your status.
Final Thoughts
For Americans wanting a Portuguese Golden Visa, the door is open today. However, tomorrow isn’t promised.
Geopolitical tensions and tariff wars are making international investment more expensive, political shifts may restrict the current Golden Visa conditions, and the EU, well, they’re pressuring some countries to abolish this program.
What’s currently available now may not be available for long. That’s why it’s recommended for Americans interested in this Golden Visa to act now. This way, you’ll be grandfathered into today’s requirements, ensuring you get the favourable Golden Visa program.
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