Portugal golden visa (ARI) in 2026: what remains, what it costs, where it leads

The residence permit for investment — ARI, the 'golden visa' — still exists, without its property option. In 2026 the routes are a 500 000 € stake in a qualifying fund, 500 000 € in research, 250 000 € in culture, or a business that creates jobs. Presence stays at seven days a year. Citizenship now takes ten years.

Updated 18 September 2026Facts checked against official sources (listed at the end)

The routes still open (art. 3.º d) of the Foreigners Act)

Lei n.º 56/2023 closed the property purchase and the plain capital-deposit routes on 7 October 2023. What the law and AIMA list today:

Route	Minimum	Low-density territories
Units in a non-real-estate collective investment fund under Portuguese law, maturity ≥ 5 years, ≥ 60 % invested in companies based in Portugal	500 000 €	—
Capital applied to research by public or private scientific institutions in the national system	500 000 €	400 000 €
Investment in or support for artistic production, or the recovery and maintenance of national cultural heritage, through listed public bodies and foundations	250 000 €	200 000 €
Incorporation of a Portuguese company creating 5 permanent jobs, or capital increase of an existing one creating 5 or keeping 10 (5 permanent) for 3 years	500 000 €	—
Creation of at least 10 jobs	no capital minimum	8 jobs

Low-density territories are those of Portaria n.º 208/2017 (fewer than 100 inhabitants per km² or GDP per head below 75 % of the national average). None of the routes may be directed, directly or indirectly, at real estate.

7 days minimum presence in the first year, 14 days in each subsequent two-year period
5 years the investment must be maintained (declaration on honour)
2 years validity of the permit, renewed for 2-year periods (art. 90.º-A n.º 2)
6 314,20 € AIMA fee on grant per person (online), plus 632,10 € analysis; renewal 3 157,80 €

How the ARI works, step by step

NIF and Portuguese bank account

Every investment is proven by a declaration from a bank registered with the Banco de Portugal attesting the transfer; the account comes first. We open both remotely.

The investment

Subscription of the fund units, the research or culture contribution (with the GEPAC or institution's declaration), the company incorporation with the jobs. Five-year commitment.

Pre-registration on the ARI portal and the file

Passport, proof of legal entry (a Schengen visa or visa-free entry — no residence visa is needed), health cover, criminal record certificate under three months old and translated, foreign tax number, declaration on honour, tax and social-security clearance, receipt of the analysis fee.

AIMA: biometrics and decision

The application must be lodged within 90 days of the first entry (art. 90.º-A n.º 1 c). The permit is issued for two years; renewals every two years on proof that the investment is maintained.

Family

Spouse or partner, children under 18 or dependent students up to 25, dependent parents and minor siblings under guardianship can be included, at the same fees. ARI families are exempt from the two-year wait that now applies to ordinary family reunification.

Fees in 2026 (Portaria n.º 307/2023)

Act	In person	Online
Analysis of the application or renewal	842,80 €	632,10 €
Grant of the ARI (per person, including family)	8 418,90 €	6 314,20 €
Renewal (per person)	4 210,30 €	3 157,80 €

Add the costs of the investment itself, fund subscription fees, translations and apostilles, and the lawyer’s fees for the file.

The citizenship question, answered plainly

Until May 2026 the ARI’s selling point was Portuguese citizenship after five years with a week’s presence a year. The Nationality Act as amended by Lei Orgânica n.º 1/2026 requires ten years of legal residence for most nationalities (seven for EU and CPLP citizens), plus a test of language, culture, history and symbols, knowledge of rights and duties, a solemn declaration and the ability to support oneself. Applications pending on 19 May 2026 keep the five-year rule.

The ARI years count as legal residence for that clock — the Act does not require physical presence beyond the 7/14-day minimum for the permit itself — but ten years is the horizon now. Permanent residence remains available after five years of permits (art. 80.º), with basic Portuguese.

Golden visa marketing still promises "EU citizenship in five years". For files lodged after 19 May 2026 that is no longer the law. Access Portugal quotes the ten-year rule in writing before a client invests.

Who the ARI is not for

Portuguese nationals and citizens of the EU, EEA, Andorra and Switzerland cannot use it. Investors who intend to live in Portugal full time usually do better with a D7 or a D2: same rights, ordinary fees, and no five-year investment lock.

Questions about the golden visa

Can I still buy a house for the golden visa?

No. The property routes were repealed on 7 October 2023; only permits granted or requested before that date continue under the old rules. Funds may not be real-estate funds.

Do I need to live in Portugal?

No. Seven days in the first year and fourteen days in each following two-year period keep the permit. Tax residence is a separate question that depends on days spent and on having a habitual home.

How long does AIMA take?

The law sets no specific deadline for the ARI and the backlog is public knowledge; files with a complete pre-registration and a bank declaration move faster than those completed later. Since Lei n.º 61/2025, an unreasonable delay can be challenged in the administrative courts (art. 87.º-B).

Can the investment be made through a company?

Yes — personally or through a single-shareholder company (sociedade unipessoal por quotas) of which the applicant is the shareholder, with the commercial registry certificate proving it.

Sources and official references

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