Residency by investment
PortugalPortugal Golden Visa · Residency in Portugal by investment
- From
- EUR 250,000
- Timeline
- On request
Why Portugal
Live, work and study in Portugal
Move freely across the Schengen area.
The permit gives you the right to live, work and study in Portugal.
Spend at least 7 days in Portugal in the first year, then 14 days in each following two-year period.
Your spouse, dependent children of any age and dependent parents.
Apply for citizenship after 10 years of residency, with basic Portuguese and genuine links to the country.
How you qualify
Routes to residency in Portugal
Cultural heritage
from EUR250,000
A capital transfer to support artistic production and the recovery and maintenance of Portugal's cultural heritage. ↗
Investment funds
EUR500,000
Units in non-real estate investment funds or venture capital funds.
Commercial company
EUR500,000
Capital to incorporate a company in Portugal, with five permanent jobs.
Research
EUR500,000
Capital for research by public or private scientific institutions in Portugal's national system.
Job creation
JobsAt least 10
Create at least 10 jobs in Portugal.
Portugal launched its Golden Visa program in October 2012. Your investment capital must come from outside Portugal.
Legal framework
The law behind the Golden Visa
The figures on this page come from the law of Portugal and the official pages of its authorities. We check them regularly.
- Last regulatory update
- 18 May 2026. Organic Law 1/2026 raised the legal residence required for naturalization to 7 years for EU and Portuguese-speaking nationals and 10 years for others. Source ↗
- Information checked
Last change: 2023
Since 6 October 2023 (Law 56/2023), the Golden Visa no longer accepts real estate purchases or the EUR 1.5 million capital transfer. The remaining routes are investment funds, job creation, research and cultural heritage. Since 18 May 2026, naturalization requires 7 or 10 years of legal residence, depending on nationality.
See all legislation (6)
How the program has changed
-
Oct 2012
Portugal opens the Golden Visa (residence permit for investment). Law 23/2007 of 4 July ↗
-
Oct 2023
Law 56/2023 ends the real estate and capital transfer routes. Law 56/2023 of 6 October ↗
-
May 2026
Naturalization now requires 7 or 10 years of legal residence, depending on nationality. Organic Law 1/2026 of 18 May ↗
Legislation in force
| Legislation | What it covers | Published |
|---|---|---|
| Law 23/2007 of 4 July, art. 90-A (residence permit for investment, ARI) ↗ | Residence permit for investment: routes and conditions | Diário da República · 4 July 2007 |
| Law 56/2023 of 6 October (Mais Habitação), arts. 37 and 42 ↗ | Ended real estate and capital transfer routes | Diário da República No. 194/2023, Series I, 6 October 2023 |
| Regulatory Decree 84/2007 of 5 November, as amended by Regulatory Decree 1/2024 ↗ | Procedure and documents for residence permits | Diário da República · 5 November 2007 |
| Ordinance 307/2023 of 13 October (fee table) ↗ | Official fees, with the digital discount | Diário da República; AIMA fee table · 13 October 2023 |
| Order 2360/2017 (GEPAC declaration for cultural investment) ↗ | Certification of cultural investments | Ministry of Culture |
| Organic Law 1/2026 of 18 May (Nationality Law amendment) ↗ | Years of residence required for naturalization | Diário da República No. 95, Series I, 18 May 2026 |
Sources of the figures (2)
| # | Source | Used for |
|---|---|---|
| 1 | AIMA – Autorização de Residência para Investimento – Art. 90.º-A ↗ | From · Cultural heritage |
| 2 | AIMA – ARI page ↗ | Permit · Stay |
FAQs · Portugal
What families ask about Portugal
Short answers, each with its legal basis. Your advisor goes through the rest with you.
All questions, by countryWho can apply?
Non-EU nationals who make one of the qualifying investments and enter Portugal legally can apply for the residence permit for investment (ARI). The investment must be made by you, personally or through a single-shareholder company, and kept for at least five years. Your family can join through family reunification.
Legal basis: Law 23/2007, art. 90-A; AIMA, residence permit for investment ↗
What is the minimum investment and which routes exist?
EUR 500,000 in units of non-real-estate investment funds with at least five years to maturity, EUR 500,000 to incorporate or increase the capital of a Portuguese company creating at least five jobs, EUR 500,000 in scientific research (EUR 400,000 in low-density areas), EUR 250,000 in cultural heritage or artistic production, or the creation of ten jobs. Real estate and the EUR 1.5 million capital transfer are no longer accepted.
Legal basis: Law 23/2007, art. 3(1)(d), as worded by Law 56/2023 ↗
Can I still invest in real estate?
No. Since Law 56/2023 came into force on 7 October 2023, no new applications are accepted for the purchase or rehabilitation of real estate, and funds that invest directly or indirectly in real estate do not qualify. Permits granted before that date keep their validity and are renewed under the previous rules.
Legal basis: Law 56/2023, art. 42 ↗
Do I have to keep the investment, and for how long?
Yes, for at least five years from the date the permit is granted. Each renewal requires proof that the investment is still in place, and the fund units must have at least five years to maturity when you subscribe. Selling before that time ends your right to renew.
Legal basis: Law 23/2007, art. 3(1)(d); AIMA, residence permit for investment ↗
How can I become a citizen?
Since 19 May 2026, naturalization requires ten years of legal residence, or seven for nationals of Portuguese-speaking countries and EU member states, counting all legal periods within a twelve-year window. You prove Portuguese at A2 level through the IAVE test or a certificate, show knowledge of Portuguese culture, history and institutions, and make a solemn declaration; the format of that civics test is still to be regulated. Portugal allows dual nationality, so you keep your current passport.
How do I renew the permit?
The first permit is valid for two years from the date the card is issued, and renewals are granted for further periods while the investment is maintained and you meet the minimum stay. You file the renewal online before the permit expires.
Legal basis: AIMA, residence permit for investment; Ordinance 307/2023 ↗
When did the program start?
The residence permit for investment has been in force since 8 October 2012. It has changed several times since then, most recently with Law 56/2023, which closed the real estate and capital transfer routes, and with the 2026 reform of the Nationality Law, which raised the residence required for citizenship.
Legal basis: AIMA, residence permit for investment ↗
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