Portugal Golden Visa (ARI)
Portugal PRT
Portugal's Golden Visa (Autorização de Residência para Investimento, or ARI) is an investment-based residency permit for non-EU/EEA nationals, notable for one of Europe's lowest physical-presence requirements: just 7 days in year one and 14 days per subsequent two-year period.
Since an October 2023 reform, real estate no longer qualifies; current routes include €500,000+ in an approved investment fund, a €500,000+ capital transfer combined with job creation, or €250,000+ toward cultural heritage or the arts, maintained for the full 5-year period. No additional investment is required for family members. The Golden Visa leads to permanent residency and, since the 2026 Nationality Law, citizenship eligibility after 10 years of legal residence (applications pending before 19 May 2026 keep the former 5-year timeline), with an A2 Portuguese language test.
Because minimal time in Portugal is needed, most holders never trigger Portuguese tax residency (183-day threshold), and the narrower IFICI regime that replaced NHR in 2024 generally doesn't apply to passive investors. The main practical obstacle is administrative: AIMA has faced severe backlogs since its 2023 reorganisation, and residence-card issuance can take a year or more beyond official timelines.
Program Details
- Category
- Investment
- Processing Time
- 6 months
- Application Fee
- $5,400
- Minimum Income
- —
- Minimum Investment
- $500,000
- Family Included
- No additional investment required for dependent family members
- Path to PR
- Yes — 5 years
- Path to Citizenship
- Yes — 5 years
- Physical Presence
- Only 7 days per year in the first year, and 14 days per every subsequent 2-year period
- Dual Citizenship
- Allowed
- Tax Impact
- Minimal physical presence means most holders do not trigger Portuguese tax residency; those who do may qualify for NHR status
- Renewal Cost
- $2,700
Application Timeline
Apply
6mo processing
Visa Granted
Initial permit
Permanent Residency
After 5 years
Citizenship
After 5 years
Key Requirements
- ✓Qualifying investment: €500,000 in approved investment funds or venture capital, OR €500,000 capital transfer plus job creation, OR €250,000 in cultural heritage/arts
- ✓Clean criminal record
- ✓Proof of legal entry into Portugal
- ✓Valid health insurance
- ✓Investment must be maintained for the 5-year residency period
- ✓NIF and Portuguese bank account
Am I eligible for Portugal Golden Visa (ARI)?
Quick self-check based on the published criteria. Not legal advice. No data leaves your browser.
Nationality eligibility
Select your nationality to check.
Minimum investment / capital
Programme requires $500,000.
Fill in the fields above to see a verdict.
This is a heuristic, not a determination. Final eligibility depends on full documentation and immigration-officer discretion.
Nationality Restrictions
This program restricts applications from nationals of: EU/EEA and Swiss nationals are not eligible
Application Process — Step by Step
- 01
Choose qualifying investment route
home countrySince October 2023 reform, real estate investment is no longer eligible. Qualifying routes: €500,000 investment fund contribution (not directly or indirectly real estate), €500,000 research institution donation, €250,000 arts/heritage contribution, €500,000 creation of 10 Portuguese jobs, or capital transfer to Portuguese companies creating 5 permanent jobs.
Typical duration: 4-12 weekssource ↗
- 02
Obtain NIF and open Portuguese bank account
destinationTax number and Portuguese bank account required for investment transfer.
Typical duration: 1-3 weeks
- 03
Complete investment
destinationTransfer funds, execute investment agreement, obtain proof of investment (certified bank statements, fund subscription documents, etc.).
Typical duration: 2-6 weeks
- 04
Submit Golden Visa application to AIMA
onlineApplication submitted online via AIMA portal. Must include proof of investment, clean criminal record (Portuguese + home country), passport, proof of accommodation, health insurance.
Typical duration: Submission takes 1 week; backlog determines waitsource ↗
- 05
AIMA biometrics appointment
destinationAttend in-person biometrics appointment at AIMA office in Portugal. Current backlog places appointments 12-24 months after application submission.
Typical duration: 12-24 months wait for appointment
- 06
Receive Golden Visa residence card
destinationResidence permit issued after biometrics; valid 2 years initially, renewable for 3-year periods.
Typical duration: 2-4 months after biometrics
Documents Required
| Document | Issued By | Apostille | Translate to | Validity (days) |
|---|---|---|---|---|
| Valid passport | Home country | No | — | 180 |
| Proof of investment (€500k+ qualifying) | Portuguese bank/fund/institution | No | — | — |
| Portuguese criminal record | Portuguese judicial authority | No | — | 90 |
| Home country criminal record | Home country | Yes | pt | 90 |
| Proof of accommodation in Portugal | Landlord/registry | No | pt | 180 |
| Health insurance valid in Portugal | Insurer | No | — | 365 |
| NIF tax number | Portuguese tax authority | No | — | — |
| Proof of investment source of funds (AML compliance) | Bank/tax/professional | Yes | pt | 90 |
Realistic Costs
Some figures below are industry estimates rather than officially verified: lawyer_fee_low, lawyer_fee_high, translations, apostilles, health_insurance_first_year, total_first_year_low, total_first_year_high, total_5_year_low, total_5_year_high.
Excludes the investment itself (€500,000+). Government fees include AIMA application fee (~€5,000 initial) and residence permit issuance (~€500). Lawyer fees for AML and investment structuring vary widely.
Realistic Timeline
- Consulate wait0–0 weeks
- Residence card issuance100 weeks
- Total to residence card52–130 weeks
AIMA backlogs are severe post-SEF dissolution (Oct 2023). Biometric appointments currently 12-24+ months wait. Applicants retain legal status during pending period.
Renewal
- First renewal after
- 24 months
- Subsequent cycle
- 36 months
- Renewal fee
- $3,000
- Requirements
- Maintain qualifying investment; 7 days physical presence per year in Portugal (the lowest stay requirement of any EU Golden Visa-style programme).
Path to Permanent Residency — Details
- Years required
- 5
- Language test
- CIPLE (A2)
- Integration test
- Not required
Path to Citizenship — Details
- Years required
- 5
- Language test
- Yes (A2)
- Civic test
- Not required
- Oath
- Required
- Dual citizenship
- Allowed
Tax Residency
- Trigger
- 183 days/year of presence
- Taxation scope
- Worldwide income
- Exit-tax country
- No
Special regimes
- IFICI20% flat on qualifying PT-sourced income
Narrow categories only.
Duration: 10 years
source ↗
Health Insurance
Some details in this section are industry estimates or general guidance rather than officially verified — confirm against the official source before relying on them.
- Mandatory
- Yes
- No co-pay required
- No
- Minimum coverage
- $30,000
Examples: Allianz Care, Cigna Global, Bupa International
Banking Setup
Some details in this section are industry estimates or general guidance rather than officially verified — confirm against the official source before relying on them.
- Open account before arrival
- Possible with bridge fintechs
Bridge fintechs
Local banks accepting applicants
Millennium BCP, Novo Banco, Santander Totta
Family Specifics
- Spouse work rights
- Spouse receives residence with full work rights
- Child school enrolment
- Public + international school access
- Parent inclusion
- Eligible (min age 55)
- Sibling inclusion
- Not eligible
Gotchas — Things to Watch For
- ⚠Real estate investment no longer qualifies as of October 2023 reform
- ⚠AIMA backlog means residence card issuance currently takes 1-2+ years
- ⚠Investment must be maintained for minimum 5 years (citizenship eligibility window)
- ⚠IFICI tax regime generally does not apply to passive investors
- ⚠Source-of-funds AML documentation is strictest among EU Golden Visas
What This Visa Does NOT Allow
- ×Withdrawal of qualifying investment before 5-year mark without losing residence
Before You Arrive — Checklist
- NIF + Portuguese bank account
- Complete qualifying investment
- Apostille and translate home country documents
- Arrange source-of-funds AML documentation
- Secure Portuguese accommodation proof
After You Arrive — Checklist
- AIMA biometrics
- Junta de Freguesia registration
- Maintain investment for 5+ years until citizenship
Conversion Paths
Commonly switched from
Common Rejection Reasons
- •AML concerns around source of funds
- •Investment does not qualify post-2023 reform (especially real estate)
- •Incomplete criminal record disclosure
- •Previous visa overstays or immigration violations
Recent Legislative Changes
Last known legislative update for this programme: 2023-10-06.
Frequently Asked Questions
Can I still use real estate to get the Portugal Golden Visa?+
No. As of October 2023, real estate investment is no longer a qualifying Golden Visa route. Pending applications submitted before the reform may still proceed. Current qualifying routes are fund investment (€500k), research contribution (€500k), arts/heritage (€250k), and job creation.
How long until I actually get my residence card?+
Official timelines state 6-9 months, but AIMA backlogs since the SEF dissolution in October 2023 mean biometric appointments are currently scheduled 12-24+ months after application. Applicants retain legal residence status during the pending period.
Do I need to live in Portugal?+
Only 7 days per year on average (14 days every 2 years) — the lowest stay requirement of any comparable EU programme. However, low physical presence does not trigger tax residency.
Can I get Portuguese citizenship after 5 years?+
Yes. 5 years of legal residence (counted from initial application date, not card issuance — confirmed by recent court rulings) makes you eligible. Requirements: A2 Portuguese (CIPLE), clean criminal record, demonstration of ties. Portugal permits dual citizenship and passport provides EU citizenship.
Good Fit For
Applying from a specific country? Your home-country tax rules, banking access, and dual-citizenship options affect every programme differently. Browse nationality guides → for tax obligations, renunciation rules, and second-passport routes.
Related Guides
Related on The Citizenship Desk
Same country
Sibling programmes
Sources & last verified
- Official source
- Last verified