Portugal Golden Visa (ARI) 2026 — The Complete Guide to Routes, Process, Cost and Citizenship
Since the 2023 reform the real-estate route is gone, and the Golden Visa now runs mainly through qualifying funds and a few other paths. This guide covers the current investment routes, eligibility, stay requirement, process, costs and the 5-year path to citizenship — and who the Golden Visa is actually right for.
Portugal's Golden Visa (officially ARI — Autorização de Residência para Investimento, the residence permit for investment) is one of Europe's best-known investment-residency programmes. Its biggest draw isn't "fast status" — it's the minimal stay requirement: spend only about 7 days a year in Portugal and you keep your residence, with a path to permanent residence or citizenship after 5 years.
This is general information, not legal or investment advice. Golden Visa rules change often; the routes, thresholds and approvals depend on the latest official Portuguese rules and on each individual case. SHIJIA Portugal Service Group does not guarantee approval outcomes and does not provide investment advice.
Who the Golden Visa is actually for
Let's be clear up front — the Golden Visa is not for most people. If you plan to genuinely move to Portugal and live here, the D7 (passive income) or D8 (digital nomad) is usually cheaper and more direct.
The Golden Visa really suits those who:
- Don't plan to spend most of the year in Portugal, but want a flexible EU / Schengen "access option"
- Have ample investable capital (from €500,000) and accept a lock-up period
- Treat it as a 5-year status option + education option for children + asset allocation, rather than an immediate relocation
The 2023 reform: the real-estate route is gone
This is what most people get wrong. After the Mais Habitação law took effect in October 2023, the Golden Visa's real-estate route (including property funds) was scrapped, and the pure capital-transfer (bank deposit) route was removed too.
So the many "buy a Lisbon apartment for a Golden Visa" guides online are out of date. The routes today are entirely different.
The main investment routes today (at time of writing)
| Route | Minimum investment | Notes |
|---|---|---|
| Qualifying fund subscription | €500,000 | The mainstream route. A Portuguese-regulated eligible fund (excluding real-estate funds) |
| Scientific research | €500,000 | Into research activity at a Portuguese institution |
| Cultural / artistic heritage | €250,000 | Supporting heritage preservation or artistic production (the lowest-threshold route) |
| Job creation | 10 full-time jobs | Create and maintain jobs in Portugal |
| Company capital + jobs | €500,000 + 5 jobs | Invest in a Portuguese company and create jobs |
Most clients take the €500,000 qualifying-fund route. The fund's investment risk is assessed and borne by the investor — be clear-eyed about that.
Eligibility
Beyond the investment itself, the main applicant must:
- Not be an EU / EEA / Swiss citizen
- Have a lawful, provable source of funds (tax records, salary, investment-exit documents — this is the step that most often stalls)
- Have a clean criminal record (apostilled and translated)
- Hold a Portuguese tax number NIF (available online through FastNIF) and a Portuguese bank account
- Hold health insurance
- Maintain the investment for the minimum period (typically 5 years)
The stay requirement: the Golden Visa's biggest advantage
- An average of 7 days a year (often expressed as "14 days every two years")
This is the fundamental difference from the D7 / D8, which emphasise actual residence. The Golden Visa barely requires you to live in Portugal — which is exactly why it suits people who want the status while keeping their life centred elsewhere.
Process and timeline
The real duration varies widely by case, fund choice and AIMA scheduling; a common range is 12–18 months:
- Assessment + fund due diligence — the lawyer reviews the fund's prospectus/credentials; the accountant reviews performance/risk
- NIF + Portuguese bank account — the foundation
- Cross-border transfer of funds — triggers AML review on both ends (prepare the source-of-funds explanation in advance)
- Fund subscription — obtain proof of investment
- Apostilles + online ARI filing (via the AIMA system)
- AIMA appointment + biometrics (waits are currently long)
- Residence cards arrive — the whole family can apply together
Cost components (for reference)
- Principal investment: from €500,000 (this is an investment, not a fee — redeemable per the fund's terms once conditions are met)
- Fund subscription / management fees: per the fund's terms
- Government fees: the ARI application and a card fee per family member
- Legal fees: by scope of work
- Apostilles + translation, insurance, NIF and other sundries
Renewal and the 5-year path to PR / citizenship
Getting the Golden Visa isn't the finish line:
- Renew every two years, proving you've maintained the investment
- After 5 years of lawful residence, you can apply for permanent residence or Portuguese citizenship
- Citizenship requires passing the A2 Portuguese exam (we offer Portuguese + citizenship prep)
- The Portuguese passport offers visa-free access to many countries, and Portugal recognises dual citizenship
Golden Visa vs D7 / D8 in one line
- Want to actually live in Portugal on passive income (pension/rent) → D7
- Work remotely for a foreign company / clients → D8
- Don't want to live here, have the capital, want flexible EU access → Golden Visa
Not sure? Use our free assessment to see which route fits in 30 seconds.
Three of the most common traps
- Thinking you can still buy property for a Golden Visa — the real-estate route was scrapped after 2023
- A messy source-of-funds explanation — a €500,000 transfer triggers AML review on both ends; an unclear source gets bounced and derails the whole timeline
- Not reading the fund's lock-up and exit terms — the 5-year lock-up, early-redemption penalties and whether you can exit at maturity must all be clear before you invest
FAQ
Can my family apply together? Yes. Spouse, minor children, dependent adult children and dependent parents can be included as family members.
Can I work in Portugal once I have it? Golden Visa holders and their family can work in Portugal.
How soon can I get a Portuguese passport? After 5 years of lawful residence + passing A2 Portuguese + meeting the other conditions, you can apply for citizenship; the approval time is separate.
Could the fund lose money? Yes. Funds carry investment risk and gains/losses are borne by the investor. The lawyer/accountant handle compliance and due diligence — not investment advice — and do not guarantee capital.
Want to know if the Golden Visa fits you?
- Free online assessment — enter your investment range to see if you qualify
- Talk to an adviser — a joint lawyer + accountant case review; the first consultation is free
- Get your NIF online with FastNIF — the first step of the Golden Visa process
Further reading: Case · Applying for Portugal's Golden Visa via the qualified-fund route
Turn this article into action
Run our free online assessment, talk to an advisor for case-specific advice, or get your NIF online via FastNIF.
This article is general information, not legal advice. Documents, thresholds and outcomes follow the latest official Portuguese rules; Shijia Portugal Service Group makes no guarantees on outcomes.
