The Portugal Golden Visa requirements in 2026 start with two separate questions: whether the applicant can use the ARI regime and whether the chosen investment activity fits one of the routes still allowed by Portuguese law.
The Portugal Golden Visa, formally the Residence Permit for Investment Activity (ARI), remains available to qualifying third-country nationals. Real-estate investment and the former general capital-transfer route are no longer available for new applications.
Quick answer: a new applicant needs an eligible ARI investment activity, the required personal and investment evidence, lawful entry and stay in Portugal, healthcare coverage, criminal-record documentation, regular tax and Social Security status where applicable, and compliance with the ARI residence and renewal rules.
Who can apply for the Portugal Golden Visa?
The ARI is designed for nationals of third countries who carry out a qualifying investment activity and meet the general residence-permit requirements that apply to this route. It is not a residence route for Portuguese citizens or people who already have free-movement rights as EU/EEA nationals.
Under Article 90-A of Portugal’s Immigration Law, the ARI is granted with an exemption from the normal residence-visa requirement. Applicants must still comply with the route’s entry and stay conditions, including holding the required valid travel status and regularising their stay in Portugal within the legal timeframe where applicable.
Which investments qualify in 2026?
Portugal currently provides five main ARI investment routes for new applicants:
| Route | Standard requirement |
|---|---|
| Job creation | Creation of at least 10 jobs |
| Scientific research | Capital transfer of at least €500,000 for qualifying research activity |
| Artistic production or national cultural heritage | Capital transfer of at least €250,000 for qualifying investment or support |
| Non-real-estate collective investment undertakings | At least €500,000 in qualifying units under Portuguese law |
| Portuguese company capitalisation and employment | At least €500,000 plus the employment conditions set by law |
For certain job-creation, research and cultural activities carried out in qualifying low-density territories, the legislation allows a 20% reduction in the quantitative requirement. The exact territorial and route conditions should be checked before relying on that reduction.
The remaining qualifying investment activities cannot be structured, directly or indirectly, for real-estate investment. See AIMA’s current ARI guidance and the 2023 legislation that changed the eligible routes.
What are the fund-route requirements?
The €500,000 collective-investment route has its own conditions. The qualifying vehicle must be non-real-estate, constituted under Portuguese law, have a maturity of at least five years at the time of investment, and have at least 60% of the value of its investments realised in commercial companies headquartered in Portugal.
That means investing €500,000 into just any Portuguese fund is not enough. ARI eligibility and the financial merits of the investment are also separate questions. Our detailed guide to Portugal Golden Visa investment funds explains what to verify before investing.
What documents are generally required?
The exact file depends on the investment route, but AIMA’s current ARI guidance identifies a common set of personal and administrative documents. These generally include:
- a valid passport or other travel document;
- proof of legal entry and stay in Portugal;
- proof of healthcare coverage;
- a criminal-record certificate meeting the applicable issue, certification and translation rules;
- proof of a tax identification number, or equivalent documentation;
- authorisation for consultation of the Portuguese criminal record;
- a declaration concerning compliance with the quantitative and temporal requirements of the investment activity;
- evidence of regular tax and Social Security status, or the applicable evidence of non-registration;
- proof of payment of the application-analysis fee;
- documents proving the qualifying investment.
AIMA currently states that a foreign criminal-record certificate should come from the applicant’s country of origin or, where relevant, a country where the applicant has lived for more than one year. Its ARI guidance also sets specific freshness, certification and Portuguese-translation requirements. These details should be checked again when the application file is prepared.
Do you need health insurance?
The application requires evidence of healthcare protection. AIMA indicates that this can be shown through coverage by Portugal’s National Health Service where applicable, or through internationally recognised health insurance covering the requested period of legal residence or providing for automatic renewal.
How much time must you spend in Portugal?
The ARI has a lower minimum physical-presence requirement than many conventional residence routes. AIMA’s current FAQ states a minimum of:
- 7 days during the first year;
- 14 days during each subsequent two-year period.
This is a minimum for the ARI residence framework, not a recommendation about tax residence, nationality, permanent residence or an individual’s wider immigration strategy. Those questions have separate legal tests.
Do you need to maintain the investment?
Yes, while you seek to renew the ARI on the basis of the underlying investment, you must continue to demonstrate compliance with the relevant ARI requirements, including maintenance of the qualifying investment where applicable.
AIMA’s documentation also requires a declaration concerning compliance with the minimum quantitative and temporal conditions of the investment activity. The investment’s own maturity, liquidity or exit terms should not be confused with the validity period of the residence card.
How long is the ARI residence permit renewed for?
Article 90-A provides for ARI renewals in two-year periods, provided the applicant continues to meet the applicable investment requirements and the other conditions relevant to renewal.
Since 16 February 2026, AIMA processes ARI renewals electronically through its Renewals Portal. A physical appointment can still be required later if biometric data needs to be collected.
Can family members be included?
Yes. The ARI framework allows family reunification, subject to the family relationship and other requirements established by Portuguese law. AIMA states that a family-reunification request may be lodged together with the principal investor’s ARI application, but it remains conditional on approval of the principal application.
The qualifying investment is not simply multiplied by the number of family members, although each additional applicant can generate administrative, document and professional costs. See our Portugal Golden Visa cost guide for the current fee structure.
Can Golden Visa holders work and travel?
AIMA states that ARI holders may reside and work in Portugal and travel within the Schengen Area without a separate visa, subject to the applicable rules. A Portuguese residence permit does not by itself grant unrestricted residence or work rights in every other EU country.
Does the Golden Visa guarantee permanent residence or citizenship?
No. The ARI is a residence permit, not an automatic permanent-residence or citizenship programme. AIMA notes that holders may apply for permanent residence or Portuguese nationality if they meet the separate legal requirements applicable at the time of those applications.
Portugal Golden Visa requirements checklist
- Confirm that you are eligible to use the ARI framework.
- Select one of the investment routes currently permitted by law.
- Verify the route-specific amount, employment condition or other qualifying requirement.
- Check that the investment structure is not directly or indirectly intended for real estate.
- Prepare valid identity, entry, criminal-record, healthcare and tax documentation.
- Obtain the evidence required to prove the investment.
- Meet the minimum physical-presence requirement.
- Maintain the qualifying conditions for renewal.
- Budget separately for AIMA fees, family members, professional services and investment costs.
Frequently asked questions
Can property qualify for a new Portugal Golden Visa?
No. Real-estate investment is no longer a qualifying route for new ARI applications.
Is there still a €1.5 million capital-transfer route?
No. The former general capital-transfer route was removed from the qualifying framework for new applications.
Can I invest €500,000 in any fund?
No. The investment vehicle and the investment itself must satisfy the specific ARI requirements.
Do I have to live in Portugal full time?
No. The ARI minimum is seven days in the first year and 14 days during each subsequent two-year period. Other legal or tax objectives may require different analysis.
Do I need a lawyer?
Portuguese ARI legislation does not make hiring a particular lawyer a universal condition of eligibility. Given the investment value, international documentation and route-specific evidence involved, many applicants obtain independent professional advice.
Next step: verify the route before committing capital
Start with the Portugal Golden Visa program page, then compare the legal requirements, costs, investment characteristics and timing of the route you are considering. If you are still comparing residence options, use Find Your Path.
Official sources
- AIMA – Residence Permit for Investment Activity (ARI)
- AIMA – ARI Frequently Asked Questions
- AIMA – ARI Portal
- Diário da República – Immigration Law, Article 90-A
- Diário da República – Law No. 56/2023
Last verified: 11 September 2026.
This content is for general information only and does not constitute legal, tax, financial or investment advice.