Golden Visa / ARI

The Residence Permit for Investment (ARI / Golden Visa) still exists, but the real-estate route was abolished by Law 56/2023 (October 2023). Options in 2026 are: Qualifying investment funds (minimum €500,000, CMVM-regulated, minimum 5-year maturity, at least 60% in non-listed Portuguese companies); Scientific research (minimum €500,000); Cultural heritage donation (minimum €250,000, or €200,000 in low-density areas); and Business/job creation (minimum €500,000 plus at least 5 permanent jobs). Investment funds are the most popular route in 2026.

Realistic total timeline: preparation (NIF, bank account, fund subscription) — 2 to 3 months; AIMA processing (submission to biometric appointment) — 3 to 9 months in 2026; card issuance after biometrics — 3 to 6 months. Total: 12 to 18 months. The ARI has a low stay requirement (about 7 days/year on average).

Critical 2026 change: Organic Law 1/2026 increased the naturalisation timeline for non-EU/non-CPLP ARI holders to 10 years (previously 5). Key safeguard: investors who paid ARI application fees on or before 3 May 2026 benefit from the old 5-year rule. Given the complexity and amounts involved, this process requires specialist legal support from the outset.

Investment options and naturalisation timelines changed significantly. Always confirm the current situation.