Portugal ARI Golden Visa

Portugal’s Autorizacao de Residencia para Investimento, commonly called the Golden Visa or ARI, remains active but has changed sharply. New applicants can no longer rely on direct real-estate acquisition or a passive capital-transfer deposit as the core investment.

The current ARI is better understood as a low-stay residence-by-investment route using funds, research, culture, job creation, or company capitalisation. It can support family reunification, Schengen travel, permanent residence, and later nationality planning, but citizenship timelines changed in 2026 and must be checked by nationality and filing date.

Start Here

Need	Best page
Check whether the current ARI still fits	Main guide
Compare funds, culture, research, jobs, and company options	Investment routes and due diligence
Plan Portal ARI, documents, biometrics, renewal, and timing	Timeline and documents
Review family, tax residence, permanent residence, and citizenship	Tax, family, and citizenship setup

Programme Snapshot

Item	Current Rule
Official name	Autorizacao de Residencia para Investimento
Common name	Portugal Golden Visa
Legal basis	Article 90-A of Law 23/2007 and related regulation
Main audience	Third-country nationals making eligible investment activity
EU/EEA/Swiss/Andorra nationals	Not eligible for ARI
Minimum route	EUR 250,000 cultural/artistic/heritage support, with possible lower-density reduction under the legal framework
Fund route	EUR 500,000 in qualifying non-real-estate collective investment units
Research route	EUR 500,000 in qualifying scientific research activity
Job route	Creation of at least 10 jobs
Company route	EUR 500,000 company creation/capitalisation plus job creation or maintenance
Real estate	Closed for new ARI filings
Simple capital transfer	Closed for new ARI filings
Minimum stay	7 days in first year, 14 days in subsequent years
Residence card	Temporary ARI valid for 2 years
Renewal	2-year renewals if investment and legal conditions are maintained
Family	Family reunification available
Permanent residence	Possible after 5 years if Article 80 conditions are met
Naturalisation	New 2026 rules: 7 years for EU/CPLP nationals, 10 years for most others, plus further requirements

Application Flow

1. Confirm that the applicant is a third-country national eligible for ARI.
2. Choose an eligible post-2023 investment route.
3. Run independent immigration, fund, tax, banking, AML, and exit-risk due diligence.
4. Complete investment evidence and common residence documents.
5. Register and submit through Portal ARI.
6. Pay AIMA fees through the Documento Unico de Cobranca generated in the portal.
7. Attend the AIMA appointment for document verification and biometrics.
8. Receive the temporary ARI card if approved.
9. Maintain the investment and minimum stay for renewal.
10. Separately plan permanent residence, long-term residence, tax residence, and nationality.

Good Fit

Portugal ARI is strongest for investors who want an EU/Schengen residence option with low physical-stay requirements, family reunification, and a long-term Portugal plan, but who are comfortable with regulated investment due diligence and slow public processing.

Poor Fit

It is usually a poor fit for buyers seeking a property-for-visa transaction, applicants needing fast citizenship, investors who cannot tolerate fund illiquidity or project risk, people wanting guaranteed returns, and anyone who assumes the old five-year citizenship story still applies to new cases.