Following Sunday’s vote, moderate Socialist Party candidate António José Seguro emerged as the frontrunner, securing 31.1% of the vote. He was followed by André Ventura, leader of the far-right Chega party, who received 23.5%.

Third place went to João Cotrim de Figueiredo of the right-wing, pro-business Liberal Initiative party, with approximately 16% support. In total, 11 candidates contested the presidency.

Current polling indicates that Seguro is expected to prevail in the runoff.

Although the Portuguese presidency is primarily ceremonial, the office retains several important constitutional powers, including the authority to veto legislation. This has taken on renewed significance amid recent discussions surrounding amendments to the Nationality Law.

Those proposals included potential changes to the permanent citizenship route linked to Portugal’s well-known residency-by-investment Golden Visa programme, as well as its less flexible D Visa options.

A parliamentary vote that supported extending the minimum period for permanent citizenship from five to 10 years was subsequently referred to the Constitutional Court by the Socialist Party (PS). Several aspects were deemed unconstitutional, meaning the legislation will return to parliament for further consideration after the presidential runoff.

Credits: Supplied Image; Author: Client; The outcome of Portugal's presidential election is set to be decided following a run-off vote on February 8.

The proposed timeline change mainly affects individuals who had not yet received their residency cards due to immigration processing delays prior to 2024. Many of these applicants are now awaiting clarification on whether the government will introduce ‘grandfathering’ provisions to protect them and their families.

The situation also underlines the contrasting political positions of the two leading presidential candidates. Chega is widely regarded as adopting a much tougher stance on immigration, reflecting broader trends seen across parts of Western Europe.

By contrast, the Socialist Party is generally viewed as more open, and its challenge to the Nationality Law suggests a greater likelihood of maintaining the more investor-friendly approach seen in recent years.

Paul Stannard is chairman and founder of Portugal Pathways, which assists affluent families and UHNWIs (ultra-high-net-worth-individuals) navigate Portugal’s Golden Visa residency-by-investment scheme as well as other D Visa options, plus other lifestyle tax and investment considerations.

He explains:
“The political landscape in Portugal has become – as we have seen elsewhere – more fragmented in recent years, so we are monitoring the outcome of the presidential election runoff with interest.

“Portugal is punching above its weight, having recently been named economy of the year for 2025 by The Economist magazine. It is one of the safest and most secure places in the world, with the third-best healthcare infrastructure in the world, and away from a lot of the geopolitical issues we are seeing.

Credits: Supplied Image; Author: Client; Far-right Chega leader André Ventura received 23.5% of the vote.

“The likes of the Golden Visa have attracted tens of billions of euros into its economy, creating jobs and playing no small part in the nation becoming a hugely attractive place to many UHNWIs.

“It is, obviously, up to the people of Portugal as to which direction they wish to go, but there is no denying the very clear economic benefits of the path it has taken so far.

“Its ability to attract talent and investment has been built on trust and stability. Any president or government will need to balance out politics with economic reality.”

To find out how to invest in Portugal’s Golden Visa, contact Portugal Pathways.