Portugal Golden Visa 2026: What Changed and How the ARI Works

By Hugo Ribeiro, Certified Accountant · Member of the Order of Certified Accountants · HVR Business Consulting

What Is the Portugal Golden Visa (ARI)?

The Portugal Golden Visa — officially the ARI (Autorização de Residência para Investimento) — grants residency rights to non-EU investors who make a qualifying investment in Portugal. After 5 years of valid residence permits, the holder can apply for Portuguese citizenship and an EU passport.

The programme stands out for its minimal physical presence requirements: just 7 days in the first year and 14 days per subsequent 2-year renewal period.

What Changed in 2023: End of Residential Real Estate

In October 2023, residential real estate investment was removed as a qualifying route. Existing applications were grandfathered.

Current Investment Options (2026)

1. Venture Capital / Investment Funds — €500,000

Minimum €500,000 investment in Portuguese VC funds or regulated investment funds overseen by CMVM. Most popular route for new applicants.

2. Company Creation + Job Creation — €500,000 + 5 jobs

Incorporate a company with €500,000 in share capital and create at least 5 permanent jobs.

3. Arts & Cultural Heritage Donation — €250,000

Minimum €250,000 donation to support artistic production or cultural heritage. Lowest minimum investment option.

4. Scientific Research — €500,000

€500,000 donation to scientific research activities conducted by institutions in Portugal's national scientific system.

Golden Visa Benefits

  • Path to EU citizenship — after 5 years
  • Minimal physical presence — 7 days/year (first year), 14 days per 2-year renewal
  • Family reunification — spouse, minor children, adult children in study, dependent parents
  • Schengen travel — visa-free access to 26 countries
  • IFICI compatible — 20% flat tax for 10 years if tax resident

Application Process: 5 Steps

  1. Choose investment option and confirm eligibility
  2. Obtain NIF + open Portuguese bank account
  3. Make the qualifying investment
  4. Submit ARI application via AIMA portal
  5. Renew every 2 years, apply for citizenship after 5 years

HVR supports international investors through the entire ARI process. Free consultation available →

Key Takeaways

  • Portugal Golden Visa provides residency for non-EU investors.
  • Residential real estate is no longer an eligible route (post-2023).
  • Current main options: Funds (€500k), Company+Jobs (€500k+5).
  • Maintain visa with only 7 days/year physical presence in Portugal.

FAQ

Does the Golden Visa still exist in Portugal in 2026?

Yes, the ARI programme remains active but without the residential real estate route since October 2023. Current options include investment funds, company creation, cultural donations and scientific research.

What is the minimum investment for the Golden Visa?

€250,000 for cultural donations, €500,000 for investment funds, company creation or scientific research.

Can I get Portuguese citizenship with the Golden Visa?

Yes, after 5 years of valid residence permits you can apply for Portuguese citizenship and obtain an EU passport.

Do I need to live in Portugal with the Golden Visa?

No. The minimum requirement is 7 days in the first year and 14 days per 2-year renewal period.