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Verdict
Yes — you can hold Portugal and Mexico citizenship simultaneously.
Portugal
Dual citizenship policy
Permitted — Portugal allows dual citizenship.
Mexico
Dual citizenship policy
Permitted — Mexico allows dual citizenship.
Both Portugal and Mexico permit dual citizenship. You can acquire, hold, and use both passports simultaneously without legal restrictions.
This assessment is based on each country's current nationality law. Dual citizenship rules can change — always verify with the relevant consulate or an immigration attorney before making decisions about renunciation or acquisition.