Portugal · residence by investment (golden visa)
Portugal residence permit for investment activity (ARI, golden visa, residence not citizenship)
Active as of 28 October 2026
Residence permit, not citizenship. Law 56/2023, in force from 7 October 2023, ended real estate purchases and the large capital transfer as qualifying investments for new applications. Fund, research, culture, company and job creation routes remain in the Aliens Act.
Investment routes
| Route | Minimum | Holding period | Notes |
|---|---|---|---|
| donation/fund2,4,5 | EUR 500,000 | 5 years | Units in Portuguese non real estate collective investment undertakings with a maturity of at least five years. At least 60 percent of the investment must go to companies based in Portugal. |
| other1,5 | EUR 500,000 | Capital transfer for research by public or private scientific institutions in the national science and technology system. Reduced by 20 percent to EUR 400,000 in low density territories. | |
| other5 | EUR 250,000 | 5 years | Capital transfer to support artistic production or the recovery or maintenance of national cultural heritage through public or related bodies. |
| business/enterprise5 | EUR 500,000 | 5 years | Capital transfer to set up or capitalise a commercial company based in Portugal, with job creation requirements. |
Rules
Legal basis
Article 3(1)(d) of Law 23/2007 of 4 July (Aliens Act) as amended by Law 56/2023 of 6 October (Mais Habitacao), which revoked subalineas i), iii) and iv), the capital transfer and real estate routes, and Regulatory Decree 84/2007 of 5 November as amended
Due diligence
Applicants must provide a criminal record certificate issued no more than 3 months before submission and tax and social security clearance issued no more than 45 days before, according to AIMA forms.
Residence requirement
Not stated in the sources read.
Programme history
- Law 56/2023 entered into force and the revoked routes closed to new applications, according to SRS Legal.4
- Law 56/2023 was published. It revoked the capital transfer route (EUR 1.5 million at the time), the EUR 500,000 real estate route and the EUR 350,000 urban rehabilitation real estate route.4,5
- The Assembly of the Republic passed the bill again without changes, ending real estate investment and the large capital transfer as qualifying routes. Holders already authorised can renew, as reported by Greenberg Traurig.3
- President Marcelo Rebelo de Sousa vetoed the Mais Habitacao housing bill, which ended the real estate routes, as reported by Greenberg Traurig.3
Official programme site: aima.gov.pt
Sources
- Agencia para a Integracao, Migracoes e Asilo (AIMA), ARI application form, subalinea v (capital transfer for research) · official
- Agencia para a Integracao, Migracoes e Asilo (AIMA), ARI application form, subalinea vii (investment fund units) · official
- National Law Review (Greenberg Traurig), Update, Portugal ends real estate investment visa program (2 October 2023)
- SRS Legal, Newsletter Imigracao, alteracoes ao regime dos Golden Visa (Lei n.o 56/2023) (6 October 2023)
- Procuradoria-Geral Regional de Lisboa, Lei n.o 23/2007, de 04 de Julho (consolidated text, article 3) · official
Figures are the minimums and fees stated by the programme or its regulations on the date shown. Agents' fees and other costs are extra. This is not investment or immigration advice.