01
€500,000+
Qualifying Investment Fund
Subscribe to eligible non-real-estate collective-investment units with at least five-year maturity and the required Portuguese-company allocation.
Portugal Golden Visa (ARI)
Residence Through Qualifying Non-Property Investment
Program overview
Portugal’s Residence Permit for Investment Activity remains available to qualifying non-EU/EEA/Swiss investors through the investment routes listed by AIMA. The program has a low physical-presence requirement, but investment, renewal, family, permanent-residence and citizenship conditions must each be assessed separately.
Direct or indirect real-estate investment is not a qualifying ARI route. Any fund must be checked carefully for property exposure and current legal eligibility.
Residence Through Qualifying Non-Property Investment
Residency Partners
Current routes and requirements
02
€500,000+
Scientific Research
Transfer capital to qualifying public or private scientific-research institutions.
03
€250,000+
Arts and Cultural Heritage
Support qualifying artistic production or national cultural heritage.
04
10 jobs
Job Creation
Create at least ten qualifying full-time jobs.
05
€500,000+
Company Capital and Jobs
Capitalise a Portuguese company and create five permanent jobs, or reinforce an existing company while maintaining ten jobs including five permanent roles.
Key eligibility requirements
- Be a non-EU/EEA/Swiss national eligible for the ARI route.
- Complete and maintain a qualifying non-property investment.
- Satisfy criminal-record, tax, social-security and source-of-funds checks.
- Meet the minimum stay of seven days in year one and fourteen days in each later two-year period.
Program due diligence
Key facts before you proceed
A concise review of the rules that materially affect eligibility, cost and long-term planning. Expand the detail you need before making a commitment.
Checked against official sources
Last reviewed 2026-09-20
Availability and review status
Open
Status checked 2026-09-20
Portugal’s ARI residence-by-investment program remains open. Real-estate purchase and capital-transfer routes are no longer qualifying routes; current routes include eligible funds, research, culture, jobs and qualifying company investment/job creation.
Physical presence
ARI holders must meet the low-stay requirement: at least seven days in the first year and fourteen days in each subsequent two-year period, subject to how the current card/renewal period is administered.
Planning range — editorial estimate
Plan for approximately 12–30+ months from filing to first card in the current administrative environment.
Family inclusion
Family reunification may include a spouse/partner, minor or dependent children, dependent adult children who are unmarried and studying, dependent parents, and specified minor siblings under guardianship. Evidence is relationship- and dependency-specific.
Government and application costs
Amounts follow AIMA’s 2026 fee table and can be indexed or procedurally adjusted. Fund subscription, bank, certification, translation, legal, tax-number and investment costs are additional.
ARI application analysis
Each applicant
€842.80; €632.10 through the applicable electronic/reduced channel
Non-refundable
Initial ARI grant
Each applicant
€8,418.90; €6,314.20 through the applicable electronic/reduced channel
Non-refundable
ARI renewal
Each applicant
€4,210.30; €3,157.80 through the applicable electronic/reduced channel
Non-refundable
Eligibility and admissibility
Open to eligible third-country nationals. EU sanctions, anti-money-laundering rules, criminal-record and admissibility checks apply; restricted persons, prohibited funds or applicants unable to evidence lawful funds cannot proceed.
Official timing indication
AIMA does not publish a dependable end-to-end ARI decision guarantee on the program page.
This is a planning estimate, not an official service standard. Court action, appointments, biometrics and backlogs can materially change timing.
Investment, holding and exit risk
Holding requirement: Maintain the qualifying investment for at least five years and while relying on it for ARI renewals. Eligible fund units must meet the statutory maturity and Portuguese-company allocation conditions.
Refundability and exit: Fund, company and other capital investments are not guaranteed or government-refunded. Donations to culture/research are non-refundable. Redemptions depend on the underlying instrument and may be illiquid.
- Private funds carry manager, portfolio, valuation, fee, liquidity and loss-of-capital risk.
- A fund marketed as “Golden Visa eligible” can cease to satisfy the legal allocation or maturity rules.
- Processing and renewal backlogs may outlast commercial forecasts; never promise a decision date or return.
Residence and practical rights
- Live and carry on permitted work or business activity in Portugal.
- Schengen short-stay travel subject to the 90-days-in-180 rule outside Portugal.
- Family reunification for qualifying relatives.
- Eligibility to pursue permanent residence or nationality separately when their requirements are met.
Long-term residence, citizenship and tax
Renewal or permanent residence: Renewals require the qualifying investment, minimum stay, valid documents and admissibility to continue. The February 2026 ARI portal supports renewal procedures. Permanent residence is a separate application with ordinary statutory conditions, including language and residence evidence.
Citizenship path: Under the nationality law in force from 19 May 2026, ordinary naturalisation generally requires seven years of legal residence for citizens of Portuguese-speaking countries or EU Member States and ten years for other nationals, plus Portuguese-language and other statutory requirements. Applications already pending when the law entered into force remain under the prior rules. Approval is not automatic.
Tax planning: Immigration status and tax residence are separate tests. Residence days, permanent-home, centre-of-interests, controlled-company, estate and source-income rules can create liabilities. Obtain cross-border tax advice before changing residence or investing.
Official sources and review method
Official sources
- AIMA — Residence Permit for Investment Activity (ARI)Checked 2026-09-20T00:00:00.000Z
- AIMA — ARI frequently asked questionsChecked 2026-09-20T00:00:00.000Z
- AIMA — 2026 administrative fee tableChecked 2026-09-20T00:00:00.000Z
- AIMA — ARI renewal portalChecked 2026-09-20T00:00:00.000Z
- Portuguese Ministry of Justice — Nationality law changes effective 19 May 2026Checked 2026-09-20T00:00:00.000Z
Editorial source review
Editorially checked against the linked official sources. This is not a local-law opinion; case-specific eligibility, fees and transaction documents must be confirmed by regulated local counsel before engagement.
Reviewed 2026-09-20
Program at a glance
Qualifying Fund
€500,000+
Research
€500,000+
Arts or Heritage
€250,000+
Frequently asked questions
Can real estate qualify for Portugal’s Golden Visa?
No. Direct and indirect real-estate investment is not an eligible ARI route under the current framework.
What is the Portugal ARI minimum stay?
AIMA states seven days during the first year and fourteen days during each subsequent two-year period, subject to the permit rules in force.
Residency Partners
Discuss this program with our team
Request a case-specific assessment before making any investment or application decision.
Request a confidential consultation