For many international families, Portugal is a natural gateway to Europe — for its quality of life, stability and openness. And the Portugal Golden Visa (the Residence Permit for Investment, or ARI) — often called a golden passport and a form of residency and citizenship by investment — is one of the most solid paths to turn that into legal residence. Before starting, it is worth understanding how it works, the requirements and the cost.

What the Portugal Golden Visa is

The Golden Visa is a residence-by-investment programme: through an eligible investment in Portugal, the investor and their family gain the right to reside in the country, move within the Schengen Area and, over the years, progress towards permanent residence and Portuguese citizenship. Its great advantage is flexibility — it does not require an immediate, full-time move, only a minimal presence in the territory.

How it works

The Golden Visa follows the same rules for all investors. What tends to vary is how the documentation of origin is organised (proof of income, lawful origin of funds, certificates) and the coordination between countries. A network with a real presence in Portugal and abroad ensures that documents from the country of origin meet Portuguese requirements, without rework or surprises.

The current routes (and what changed)

The 2023 reform ("Mais Habitação") removed real estate from the eligible routes. Those searching for property-based options find outdated information. Among the current routes:

  • Investment funds regulated by the CMVM — today one of the most sought-after doors.
  • Job creation and support for cultural activities, among others, each with its own rules.

The minimum investment depends on the route and is set by law, which may be revised. As amounts change, we always confirm the figure in force before any decision.

Who handles the application

In Portugal, applications are now handled by AIMA (the Agency for Integration, Migration and Asylum), which replaced the former SEF. All liaison with the authorities is part of our support.

From visa to citizenship

For many, the Golden Visa is the first step of a larger project: Portuguese citizenship. Naturalisation by residence requires a period of legal residence — recently changed by the 2026 reform — and other requirements. As this is a sensitive, evolving point, the deadlines must be confirmed against the framework in force. The path can be planned from the outset, in an integrated way.

Common mistakes

The most frequent stumbles are not in the investment, but in the preparation: underestimating proof of the origin of funds, starting without a tax diagnosis (a change of residence has tax impact), and relying on outdated information about routes that no longer exist. Avoiding them is half the journey.

Where to start

The starting point is always the same: a diagnosis of your goal — to reside, a plan B, European access or citizenship — and of your wealth profile. From there, the right route and plan are defined. An initial conversation, with no commitment, is the first step.

Legal references

  • Law no. 23/2007, of 4 July, Article 90.º-A (ARI / Golden Visa), added by Law no. 29/2012; amended by Law no. 56/2023 ("Mais Habitação"), which removed real estate.
  • Funds are regulated by the CMVM; applications are handled by AIMA (which replaced the SEF).
  • Citizenship follows Law no. 37/81, amended in 2026 (Organic Law no. 1/2026). Deadlines and requirements must be confirmed with the IRN.
  • Amounts, eligible routes and deadlines are set by the law in force and may change; we always confirm the current framework in the official text.

This article is general and informational and does not constitute legal, tax or investment advice.