Home › Golden Visa Europe › Golden Visa Portugal
Golden Visa Portugal
European residency by investment with an average of seven days a year in Portugal and a structured path to permanent residence and citizenship.
Portugal’s Golden Visa, legally the Residence Permit for Investment Activity (ARI), is the residence route designed for internationally mobile families who want a European base without relocating today. Since October 2023 the programme has been redirected towards investment with measurable impact in the real economy, culture, science and job creation. Real-estate purchases no longer qualify. What remains is a clearer, more credible programme, and one that rewards investors who prepare their case with method.
Vázquez & Barba structures your Golden Visa from our offices in Barcelona and on Avenida da Liberdade in Lisbon, working alongside a Portuguese team composed entirely of attorneys with full command of procedures before AIMA, the Portuguese migration agency. Route, evidence and timeline are settled before a single document is filed.
Why the Portugal Golden Visa remains the benchmark in Europe
- Minimal physical presence: 7 days in the first residence period and 14 days in each subsequent two-year period, on average seven days a year.
- The right to live, work and study in Portugal, and to travel visa-free throughout the Schengen Area.
- Your whole family on one application: spouse or partner, dependent children, including students up to 25 and dependent parents.
- Permanent residence after five years, with no obligation to keep the investment afterwards.
- A defined path to Portuguese citizenship and one of the world’s strongest passports.
- Investment routes supervised by Portuguese regulators (CMVM, GEPAC, the national scientific system) rather than speculative property.
- Holding the permit does not, by itself, make you a Portuguese tax resident.
Portugal Golden Visa investment options in 2026
The current regime (Law 56/2023) consolidates four routes. Each has its own documentary logic, and all depend on clear proof that the investment was made from funds transferred from abroad and is maintained for the life of the permit.
1. Investment funds – from €500,000. The most sought-after route
Subscription of units in investment or venture-capital funds registered and supervised by the Portuguese securities regulator (CMVM), with a maturity of at least five years, at least 60% of the capital invested in companies headquartered in Portugal and no direct or indirect exposure to real estate. Investors value professional management, the diversification and the typically efficient tax treatment for non-residents. Returns are not guaranteed, which is why we review the fund’s regulations, investment policy, governance and liquidity mechanisms before you subscribe, and obtain comfort letters on ARI eligibility.
2. Cultural investment from €250,000 or €200,000 in low-density areas
A non-refundable contribution to artistic production or to the restoration and maintenance of Portugal’s cultural heritage, channelled through qualified public or private entities and validated by GEPAC, the Ministry of Culture’s strategy office. Chosen by families who want their residency to leave a tangible legacy. The lowest capital threshold in the programme.
3. Science and innovation from €500,000
A contribution to research activities of universities, associated laboratories and research centres integrated in the national scientific and technological system, under a programme contract with defined goals, indicators and reporting. Favoured by technology- and academia-oriented profiles who wish to align residency with Portugal’s innovation ecosystem.
4. Job creation or company capitalization from €500,000, or ten jobs
Either the creation of at least ten full-time jobs with formal contracts and full labour and social-security compliance (no minimum capital), or €500,000 in the share capital of a new or existing Portuguese company combined with the creation of five permanent jobs or the maintenance of ten existing ones, for a minimum of three years. The most management-intensive route, and, for entrepreneurs who want to build a real operation in Portugal, the most rewarding.
Who can apply for the Golden Visa in Portugal
Nationals of countries outside the EU, the EEA and Switzerland who are at least 18 years old, have a clean criminal record, hold health insurance valid in Portugal and make the qualifying investment with capital transferred from abroad through a Portuguese bank account.
Family reunification
- Spouse or common-law partner (with proof of stable cohabitation).
- Minor children and adopted children.
- Adult children up to 25 who are single, studying and financially dependent.
- Dependent parents of the investor or spouse (dependency presumed over 65).
- Minor siblings under the investor's legal guardianship.
Family members receive their own residence cards with the same rights, and their time in Portugal counts towards their own permanent residence and citizenship.
How the Portugal Golden Visa process works
Legal planning and financial set-up
We confirm eligibility, choose the route that fits your profile and objectives, and issue a written migration plan. In parallel, we obtain your Portuguese tax number (NIF) through a tax representative, no travel required and open your Portuguese bank account with an institution familiar with the ARI routine and its KYC checks.
Executing the investment and building the evidence
Fund subscription agreements, cultural or scientific protocols, or corporate formalities are signed and backed by unequivocal proof: transfers, ownership statements, institutional declarations and the bank statement that identifies, line by line, the amount and purpose of the investment.
Application and biometrics
The application is submitted on the AIMA portal with a fully indexed dossier – passport, criminal-record certificates issued within the last 90 days from every country of residence, civil-status documents, health insurance and proof of dependency, all apostilled and translated. Once the analysis is complete, you and your family attend a single biometrics appointment in Portugal.
Residence card, renewals and maintenance
The first residence card is valid for two years and is renewed for successive periods while the investment is maintained, the stay requirement is met and documents are updated. We keep your renewal calendar, your evidence of presence and your compliance file so that every renewal is routine.
Permanent residence and citizenship
After five years you may apply for permanent residence and release the investment. Citizenship by naturalization is available after ten years of legal residence under the nationality law in force since May 2026, subject to A2 Portuguese, knowledge of Portuguese culture and institutions, and a clean criminal record. Applications for nationality filed before 19 May 2026 continue to be assessed under the previous five-year rule.
Portugal Golden Visa costs and timeline
Beyond the investment itself, budget for AIMA analysis and issuance fees, legal fees for planning and monitoring, translation and apostille costs, bank commissions and – for the fund route – management and performance fees disclosed in the prospectus. Processing times at AIMA remain long; we tell every family the realistic timeline for their route at the outset, and we act through the courts to secure appointments when administrative delay compromises your rights.
Golden Visa and taxes: residency is not tax residency
Holding a Portuguese Golden Visa does not make you a Portuguese tax resident. Families that remain below 183 days a year and do not establish habitual residence keep their foreign income outside the Portuguese tax net, with only Portuguese-source income taxed in Portugal. Families who decide to move their centre of life plan the transition with our international tax team: double-taxation treaties, classification of employment, capital and business income, and the applicable regimes. Each family has its own mosaic of income and assets; the tax decision follows the design.
What changed – and what did not
October 2023 (Law 56/2023)
- Still eligible: regulated investment funds, cultural and scientific contributions, job creation and company capitalisation.
May 2026 (Lei Orgânica 1/2026 – nationality law)
- New requirements: Portuguese at A2 level, knowledge of Portuguese culture, history and institutions, and a solemn declaration of adherence to democratic principles.
- Unchanged: the Golden Visa itself, its investment thresholds, the 7/14-day stay rule, family reunification and permanent residence after five years.
Frequently asked questions about the Portugal Golden Visa
Can I still get a Portugal Golden Visa by buying property?
No. Real-estate purchases have not qualified since 7 October 2023. The main routes are regulated investment funds €500,000, and cultural contributions €250,000.
How many days do I need to spend in Portugal?
Seven days during the first residence period and fourteen days in each subsequent two-year period, approximately one week a year.
How long until Portuguese citizenship?
Ten years of legal residence for most nationalities under the law in force since 19 May 2026, counted from the first residence card. Permanent residence remains available after five years.
Do I have to keep the investment forever?
No. The investment must be maintained while you hold the Golden Visa; once permanent residence is granted, it can be released.
Will I become a Portuguese tax resident?
Not automatically. Tax residence depends on days of presence and habitual residence, not on the residence permit.
Can my parents be included?
Yes, dependent parents of the investor or the spouse; dependency does not need to be proven when they are over 65.
Your European plan starts in Lisbon
Families who work with Vázquez & Barba are not looking for a transaction; they want a partner who will be beside them for everything that follows, renewals, tax, business, succession and, in time, citizenship. Tell us about your family and your objectives and we will tell you, in writing, which route fits and what it will take.
Last reviewed: September 2026. Content reflects Law 56/2023 and Lei Orgânica 1/2026.
Contact Us Now
We offer expert legal advice and customized solutions to achieve your business and legal objectives in Europe.
