Portugal•EuropeARI — Portugal Golden Visa
At a Glance
3–6 months
EUR €9,262
5 years
Renewable
Renewal
Renewable
Family
Not specified
PR Pathway
Yes
Sponsor
No job offer needed
Work
Remote not required
Overview
Portugal's Residence Permit for Investment (ARI / Golden Visa) granting low-presence residency through qualifying non-real-estate investment.
Portugal's Golden Visa, formally the Residence Permit for Investment (ARI), launched in October 2012 and is now run by AIMA, which replaced SEF in October 2023. The Mais Habitacao law (Law 56/2023) closed the real estate route on 7 October 2023, leaving an active-investment program aimed at productive capital, not housing.
Qualifying routes are EUR 500,000 into a regulated non-real-estate Portuguese fund, EUR 500,000 into scientific research, EUR 500,000 to incorporate a company creating 5 jobs, EUR 250,000 supporting cultural heritage, or creating 10 jobs. EU, EEA, Andorran and Swiss nationals are non-qualifying; presence is just 7 days year one, 14 days per year after.
This visa is ideal for non-EU investors seeking Schengen mobility and a path to Portuguese citizenship after 5 years without full-time relocation.
Cost Breakdown
Stay & Extensions
| Initial grant | 5 years |
Conversion Paths
Visas you can typically switch to from this status.
PortugalPortugalD3 — Highly Qualified Activity Visa (D3)
Requirements
PUBLISHED REQUIREMENTS
Non-EU/EEA/Andorra/Swiss citizenship (Portuguese nationals also excluded)
Age 18 or older
Clean criminal record (no conviction punishable by imprisonment over 1 year under Portuguese law)
One qualifying investment: 10 jobs created; or €500,000 to scientific research; or €250,000 to cultural heritage/artistic production; or €500,000 in a regulated non-real-estate Portuguese fund (5-yr maturity, 60% in Portuguese companies); or €500,000 to establish a Portuguese company creating 5 permanent jobs
Funds must be sourced from outside Portugal
Minimum physical presence: 7 days in the first year and 14 days in each subsequent year
Real estate acquisition no longer qualifies (Law 56/2023 'Mais Habitacao', effective 7 October 2023)
KEY CRITERIA
Investment
250,000 EUR
REQUIRED DOCUMENTS
Valid passport
Proof of qualifying investment
Declaration of intent to maintain investment for 5 years
Clean criminal record certificate
Proof of health insurance coverage in Portugal
Proof of legal entry into Portugal
Completed AIMA application form
Advantages & Considerations
Key Benefits
- Pathway to permanent residency and Portuguese citizenship after 5 years of legal residence
- Right to live, work and study in Portugal, plus visa-free Schengen travel
- Very low presence requirement (7 days year 1, 14 days/year thereafter)
- Family reunification covers spouse, dependent children and dependent parents
- No need to become Portuguese tax resident if days are kept below threshold
Worth Knowing
- Real estate investment no longer qualifies (Law 56/2023, eff. 7 Oct 2023)
- Significant upfront investment (€250K-€500K) plus due-diligence and AML screening
- AIMA backlog has driven actual processing well beyond the 12-18 month nominal target
- A2 Portuguese language test required for citizenship by naturalisation
- Funds must originate outside Portugal and be maintained for at least 5 years
- EU, EEA, Andorran or Swiss nationality (non-qualifying)
- Criminal conviction punishable in Portugal by imprisonment over 1 year
- Inability to demonstrate sourced-from-abroad qualifying capital
Application Process
Obtain a Portuguese Tax Identification Number (NIF)
Open a Portuguese bank account
Make the qualifying investment and obtain proof of capital transfer
Register on the ARI Portal (ari.sef.pt) and submit the online application with required documents
Pay the analysis fee via the Single Collection Document (DUC) within the 10-day window
Await AIMA acceptance email and schedule an in-person appointment at an AIMA office
Attend the appointment for document submission and biometric data collection
Receive the residence permit (initial 2 years, then renewals)
Related visas
More visas in Portugal
Investment visas in other countries
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