How the presidential election could impact Portugal's Nationality Law

Portugal elects António José Seguro as president, with Nationality Law reforms set to return to parliament amid continued speculation

LISBON, PORTUGAL, February 11, 2026 /EINPresswire.com/ -- Portugal’s presidential election has delivered a decisive victory for the left-wing António José Seguro, who secured more than 66% of the vote, comfortably defeating nationalist candidate André Ventura of the Chega party.

Although the presidency is largely ceremonial, the office retains key powers, including the ability to veto legislation. This is particularly relevant to ongoing debate around changes to the Nationality Law, which could affect the permanent citizenship pathway linked to the popular residency-by-investment Portugal’s Golden Visa programme and the less flexible D Visas.

A parliamentary vote to extend the citizenship timeline from five to 10 years was referred to the Constitutional Court by the Socialist Party, with elements ruled unconstitutional. The proposal will now return to parliament for further debate.

The timeline issue mainly affects applicants who had not received residency cards due to processing delays prior to 2024. Many are awaiting clarity on whether the government will introduce ‘grandfathering’ provisions for them and their families.

Chega’s candidate had advocated a more restrictive approach to immigration, reflecting trends across parts of Western Europe. The Socialist Party, by contrast, is viewed as more open to foreign investment and, given its legal challenges, more likely to maintain the recent approach to nationality rules.

The Golden Visa programme continues to play a major role in the Portuguese economy. Applicants must invest €500,000 into approved and regulated alternative investment funds, supporting key sectors.

According to an independent report by the World Digital Foundation, the programme has attracted more than €9 billion in direct investment since 2012, generating an estimated €54.3 billion in wider economic impact across real estate, investment funds, innovation, sustainable development and job creation.

The report suggests every euro invested has produced six euros of broader economic activity.

After real estate options were removed from the scheme in 2023, investment funds have continued to deliver significant results.

One recent report indicated the programme generated close to €1 billion across Portugal’s public and private fund markets in 2025.

As demand for the Golden Visa persists, Portugal’s stock market rose 29.6% in 2025, with strong momentum continuing into 2026.

Paul Sheedy, special advisor at the Portugal Future Fund, an alternative investment fund eligible for Portugal’s Golden Visa programme, said: “We’ve seen consistent high levels of demand from investors looking to invest in Portugal’s key growth sectors, including renewable energy, media and international events, tourism and hospitality, technology, and healthcare.

“This has continued into 2026 and is showing no signs of slowing down.”

Paul Stannard, chairman and founder of Portugal Pathways which supports high-net-worth individuals navigate their Golden Visa journey, said: "We congratulate António José Seguro on his success in the presidential election.

“While we await further debate on the Nationality Law, it is clear how significant the economic benefits of the Golden Visa programme are.

“Foreign investment brings jobs, wealth and prosperity to the nation and long may that continue.”

Oakie Britcher
Portugal Pathways
oakie.britcher@portugalpathways.io
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