Portugal attracts €6.7 billion in foreign direct investment

Portugal took in €6.7 billion in foreign direct investment during the first half of 2026, according to Bank of Portugal data, marking a strong turnaround from the net outflow recorded over the same period in 2025.

Of that total, €6 billion was directed into the capital of Portuguese companies and other entities, while €1.7 billion went into property.

France was the largest source of capital, contributing €7 billion, followed by Spain with €1.9 billion. These figures are higher than the overall €6.7 billion total because FDI is measured as a net flow, and a €4.6 billion reduction in investment attributed to Luxembourg partially cancelled out the gains made elsewhere.

This recovery comes despite a period of change for one of the country's established investment routes. Portugal's Golden Visa eligible investment funds attracted €283 million in new subscriptions between January and May 2026, according to the Portuguese Association of Investment Funds, Pensions and Assets (APFIPP), against €94.7 million redeemed from those funds in the same period, a rate of new capital arriving at nearly three times that of outflows.

That pace suggests continued appetite for the route, even as some investors, many of whom placed capital in the 12 to 18 months before changes to the Nationality Law, choose to exit their positions.

Paul Stannard, chairman and founder of Portugal Pathways and the Portugal Investment Owners Club, suggests the figures point to a programme doing the job it was designed to do. "Golden Visa capital keeps finding its way into Portuguese businesses and the wider economy, and that's exactly the kind of investment the scheme was set up to encourage," he said.

Viewed side by side, the two sets of data tell a similar story. Foreign capital is arriving in record volumes through Portugal's main investment channels, with the Golden Visa fund route continuing to contribute positively to that trend.

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About Portugal Future Fund

The Portugal Future Fund strategically invests in key sectors, driving growth and innovation across Portugal. Approved for Portugal’s Golden Visa residency-by-investment, it offers a unique opportunity for impactful and rewarding participation.

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