Portugal
Portugal
Investment from
EUR 250,000
Timeline
~9–12 months to first residence card
ARI card timeline only — citizenship eligibility is a separate ~10-year clock under the 2025–26 nationality-law reform (~7 years for CPLP nationals).
Visa-free access
186 countries
Residency required
7 days per year minimum stay
Programme Overview
Portugal's Golden Visa (ARI) remains Europe's most-discussed residency route, but the proposition has changed twice in three years: real estate and capital-transfer routes closed in late 2023, and the 2025–26 nationality-law reform extends the residency requirement for citizenship to around ten years.
What remains is still compelling for the right profile: an EU residency permit with roughly seven days' average annual presence, family inclusion, and Schengen access — as long as applicants go in with accurate expectations about the longer citizenship road.
Key Benefits
Investment Details
Lowest official ARI route is EUR 250,000 for qualifying artistic production or national cultural-heritage support (EUR 200,000 in some low-density territories). The common fund route is EUR 500,000 in a qualifying Portuguese-law non-real-estate fund. Real estate and simple capital-transfer routes are closed to new applications.
Investment Options
Qualifying Investment Fund
EUR 500,000
Subscription to a Portuguese-law fund with no direct or indirect real-estate exposure — the route most current applicants use. Fund quality varies widely; independent due diligence is essential.
Cultural / Artistic Support
EUR 250,000
Donation toward artistic production or national cultural heritage — EUR 200,000 in qualifying low-density territories. The lowest-priced current route, but contributions are non-refundable.
Scientific Research
EUR 500,000
Transfer into qualifying public or private research activity.
Business & Job Creation
EUR 500,000
Incorporation or capitalisation of a Portuguese company creating at least five permanent jobs, or a standalone route creating ten qualifying jobs.
Passport Mobility
Source: Henley Passport Index. Figures approximate and subject to change.
Application Process
NIF, bank account & legal rep
Obtain a Portuguese tax number and bank account — usually via a fiscal representative before you visit.
Make the investment
Subscribe the fund, complete the cultural donation, or execute the qualifying investment and gather the supporting declarations.
ARI application to AIMA
File with supporting documents; AIMA backlogs have historically added months — plan for 9–12 months to the first residence card.
Biometrics & residence card
In-country biometrics appointment, then the residence permit issues (renewable at intervals).
Maintain & renew
Keep the investment and meet the ~7-day-per-year average stay.
Permanent residence or citizenship
Naturalisation now requires ~10 years' legal residence under the 2025–26 reform (7 for CPLP nationals), subject to final implementing rules — confirm transitional protections for existing applicants.
Eligibility & Disqualifiers
- Non-EU/EEA nationals, 18+, clean criminal record
- Qualifying investment maintained for the permit's duration
- ~7 days per year average physical presence
- A2 Portuguese language test at naturalisation
- Real estate and capital transfers no longer qualify — avoid outdated marketing
Things to Know
Real estate and capital-transfer routes are closed to new applications. The nationality-law reform extends the naturalisation timeline from 5 to ~10 years — verify transitional rules with counsel before applying.
Frequently Asked Questions
Can I still buy property in Portugal for a Golden Visa?
No. Real estate — residential or commercial, interior or coastal — stopped qualifying for new ARI applications in October 2023. Any page or adviser still selling a property route is working from outdated rules.
How long until Portuguese citizenship now?
The 2025–26 nationality-law reform raises the residency requirement for naturalisation to around ten years (seven for CPLP nationals), with transitional details subject to implementing regulation. Get written advice on how the transition applies to your timeline before filing.
Is the NHR tax regime still available?
The original NHR regime closed to new applicants in 2024. A narrower successor (IFICI) mainly covers qualifying research and innovation roles — do not assume preferential tax treatment.
What are the total costs beyond the investment?
AIMA application and card fees, legal fees, fund subscription costs, translations, and travel. Budget meaningfully above the investment floor and get a written breakdown.
Programme Facts
- Programme type
- Residency → Citizenship
- Residency requirement
- 7 days per year minimum stay
- Dual citizenship
- Allowed
- Family inclusion
- Spouse, dependent children, parents
- Tax benefits
- The original NHR regime closed to new applicants in 2024. The narrower IFICI replacement mainly covers qualifying research and innovation roles — confirm eligibility with a Portuguese tax adviser.
- Official source
- Government website
- Data checked
- 2026-09-29
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