English speaking accountants in Portugal

Golden Permit Programme

Golden Visa / Residence Permit for Investment Programme

 

Portugal operates a Residence Permit for Investment (Autorização de Residência para Investimento – ARI), commonly referred to as the Golden Visa. The programme allows qualifying nationals of countries outside the EU/EEA and Switzerland to obtain a Portuguese residence permit by making a qualifying investment in Portugal. The programme continues to operate in 2026, but it has been substantially changed from its original form.

In particular, the purchase of Portuguese real estate is no longer a qualifying investment for new Golden Visa applications. The changes introduced in 2023 removed property acquisition and property-related investment routes from the programme. Existing applications submitted before the relevant legislative changes are subject to transitional provisions.

 

Qualifying Investments

For new applications, the principal qualifying routes currently include:

• Creation of at least 10 jobs in Portugal. The employment requirement may be reduced to 8 jobs where the investment is made in a qualifying low-density territory.
• Investment of at least €500,000 in qualifying scientific research activities, carried out by public or private research institutions integrated into Portugal's national scientific and technological system. The minimum may be reduced by 20%, to €400,000, where the investment is made in a qualifying low-density territory.
• Investment of at least €250,000 in qualifying artistic or cultural activities, including support for artistic production or the preservation and maintenance of Portugal's national cultural heritage. This amount may be reduced by 20%, to €200,000, where the investment is made in a qualifying low-density territory.
• Investment of at least €500,000 in qualifying non-real-estate collective investment undertakings or funds, subject to detailed statutory requirements. The fund must generally have a minimum five-year maturity and at least 60% of the investment must be realised in Portuguese companies.
• Investment of at least €500,000 in a Portuguese commercial company, together with the creation of at least five permanent jobs, or an equivalent qualifying increase in the share capital of an existing Portuguese company accompanied by the required employment commitments.

The investment must be maintained for the legally required period, currently at least five years for the relevant investment routes. The investment cannot be structured, directly or indirectly, as an investment in Portuguese real estate.

 

Residence Requirements

One of the principal features of the Golden Visa is the relatively limited physical-presence requirement. The holder must generally remain in Portugal for at least:

• 7 days during the first year; and
• 14 days during each subsequent two-year period.

 

These are minimum-presence requirements and are considerably lower than those normally associated with ordinary Portuguese residence permits.

The ARI is renewable for periods of two years, provided the relevant investment and other legal requirements continue to be satisfied.

The programme therefore continues to be particularly relevant to individuals who want to maintain a Portuguese residence right while spending substantial periods of time outside Portugal.

 

Family Reunification

The Golden Visa holder may also apply for family reunification, allowing qualifying family members to obtain residence rights in Portugal. Family reunification can be requested in connection with the principal investor's application, although it remains dependent on the approval of the investor's ARI.