The Golden Visa Portugal, officially termed the Residence Authorization for Investment Activity (ARI)

1 minute read
Published on March 21, 2025

Author of the Article
Loide Castelo Branco

I – Eligibility

The Golden Visa Portugal, officially termed the Residence Authorization for Investment Activity (ARI), enables third-country nationals to secure a temporary residence permit through investment in Portugal. This program is particularly appealing for individuals seeking residency by investment in Portugal. To qualify, the investment activity must be carried out personally or via a company meeting Portugal’s legal standards, sustained for a minimum of five years. For those wondering how to get a Golden Visa in Portugal, eligibility hinges on meeting both investment and legal criteria.

II – Investment Options

For investment purposes, the applicant must consider the provisions established by current law, which are:

Creation of at least 10 jobs;

Transfer of capital in an amount equal to or greater than €500,000, to be applied in research activities conducted by public or private scientific research institutions integrated into the national scientific and technological system;

Transfer of capital in an amount equal to or greater than €250,000, to be applied in investment or support for artistic production, recovery, or maintenance of national cultural heritage, through central and peripheral direct administration services, public institutes, entities within the public business sector, public foundations, private foundations with public utility status, intermunicipal entities, entities within the local business sector, municipal associative entities, and public cultural associations pursuing responsibilities in the areas of artistic production, recovery, or maintenance of national cultural heritage;

Transfer of capital in an amount equal to or greater than €500,000, intended for the acquisition of units in non-real estate collective investment entities, established under Portuguese legislation, with a maturity of at least five years at the time of investment, and at least 60% of the investment value being allocated to commercial companies headquartered in national territory;

Transfer of capital in an amount equal to or greater than €500,000, intended for the establishment of a commercial company headquartered in national territory, combined with the creation of five permanent jobs, or for the reinforcement of the share capital of an existing commercial company headquartered in national territory, with the creation of at least five permanent jobs or the maintenance of at least ten jobs, including a minimum of five permanent ones, for a minimum period of three years."

III – Requirements

To apply for the ARI/Golden Visa, the applicant must meet both general and specific conditions required for this visa, as these are cumulative requirements—meaning all must be fulfilled, otherwise the application may be rejected. To this end, all documentation required by law must be submitted, including:

Meeting general requirements, namely:

Absence of any fact that, if known to the competent authorities, would prevent the granting of the visa;

Possession of a valid Schengen visa;

Regularization of stay in Portugal within 90 days from the date of first entry into national territory;

Fulfillment of one of the investment requirements described in section II above;

Presence in Portuguese territory;

Possession of sufficient means of subsistence, as defined by regulation;

Housing;

Registration with Social Security, whenever applicable;

No conviction for a crime punishable in Portugal by a prison sentence exceeding one year;

Not being subject to an entry or stay ban in national territory following a removal measure;

No indication in the Schengen Information System (SIS) or the Integrated Information System of the Foreigners and Borders Service (SII UCFE) for purposes of refusing entry, stay, or return.

Additionally, regarding specific requirements for the residence authorization for investment activity, the minimum quantitative investment requirements to be verified in national territory, as per the chosen investment type in section II, will also be considered:

Investments may be made individually or through a single-member limited liability company in which the applicant is a partner;

Investments may be reduced by 20% when the activities are carried out in low-density territories. Low-density territories are those defined by regulation, i.e., areas with fewer than 100 inhabitants per km² or a per capita GDP below 75% of the national average;

Investments must be completed at the time of submitting the residence authorization application;

When investments are made through a single-member limited liability company, the applicant for the granting or renewal of the residence authorization must submit an updated commercial registry certificate proving they are the partner of the single-member company;

The applicant for the residence authorization for investment must provide information regarding personal tax identification numbers, or equivalents, from their country of origin, residence, or tax residence.

IV – Minimum Investment Duration

The minimum investment period for Golden Visa Portugal spans five years, commencing from the issuance of the residence permit.

V – Minimum Stay Periods

To maintain and renew the permit, applicants must adhere to the minimum stay for Golden Visa Portugal:

7 days (consecutive or non-consecutive) during the first year.

14 days (consecutive or non-consecutive) for each subsequent two-year period.

VI – Evidence of Investment

To prove compliance with the requirement, the applicant must submit:

Individual employment contracts entered into with workers;

A declaration issued by a public or private scientific research institution integrated into the national scientific and technological system, certifying the effective transfer of the required capital;

A declaration issued by the beneficiary entity, certifying the effective transfer of the legally required capital;

A declaration issued by the Office of Strategy, Planning, and Cultural Assessment, after consulting the relevant cultural sector service, certifying the nature of the investment or support for artistic production, recovery, or maintenance of national cultural heritage;

A certificate proving ownership of participation units, free of liens or encumbrances, issued by the entity responsible for maintaining an updated register of unit holders under the law, management regulation, or contractual instrument;

A declaration issued by the management company of the respective investment fund, certifying the feasibility of the capitalization plan, a maturity of at least five years, and the application of at least 60% of the investment in commercial companies headquartered in national territory;

Proof of compliance with the requirements through access to information verifying the establishment of a commercial company with share capital equal to or greater than the legally required amount or, in the case of acquiring a shareholding, access to information proving ownership of the shareholding and the contract through which the acquisition was made, indicating the acquisition value, with AIMA, I.P., officially verifying the status with Social Security;

In addition to the documents mentioned above, the applicant must submit a declaration from a credit institution authorized or registered in national territory with the Bank of Portugal, certifying the effective transfer of an amount equal to or greater than that legally required.

VII – Fees

The fees for Portugal investment visa are regulated by Portuguese law and detailed in the applicable ordinance, reflecting the cost of Golden Visa Portugal.

VIII – Advantages

The granting of the ARI/Golden Visa will allow nationals of third countries to:

Enter Portugal without needing a residence visa;

Reside and work in Portugal, provided they remain in Portugal for at least 7 days in the first year and at least 14 days in subsequent years;

Travel within the Schengen Area without needing a visa;

Benefit from family reunification;

Apply for a Permanent Residence Authorization;

Apply for Portuguese nationality through naturalization.