PortugalResidence permit by investmentLimited

Portuguese residence by investment in Portugal

The ARI regime is a temporary Portuguese residence permit for third-country nationals who carry on investment activity in the country in person or through a company with a permanent establishment in Portugal. The permit is issued by the Agency for Integration, Migration and Asylum (AIMA): the holder enters without a residence visa, lives and works in Portugal, brings the family over and can later apply for permanent residence.

Visa term

The first card 1 year, renewed every 2 years

Processing time

From filing to the first card usually 6-8 months (AIMA queues)

Work

The right to reside; work is not required but is allowed

Residence

At least 7 days in the first year and 14 days in each 2-year period

Source: aima.gov.pt — residence permit for investment activity (ARI), article 90.º-A

Who can obtain it

Investment in funds and business

A capital transfer of €500,000 or more to buy units in non-property collective investment undertakings established under Portuguese law, with a maturity of at least five years at the time of the investment and at least 60% of the funds invested in companies headquartered in Portugal — subparagraph vii
A capital transfer of €500,000 or more to set up a trading company headquartered in Portugal, together with the creation of five permanent jobs — subparagraph viii
A capital transfer of €500,000 or more to increase the share capital of an existing Portuguese company, creating at least five permanent jobs or keeping at least ten jobs, five of them permanent, for at least three years — subparagraph viii
The creation of at least ten jobs, with no minimum transfer amount required — subparagraph ii
Units can be bought in several funds, provided the total is not below the amount required and the money arrived by international transfer

Investment in science and culture

A capital transfer of €500,000 or more to research activity at public or private scientific institutions within the national science and technology system — subparagraph v
A capital transfer of €250,000 or more to support artistic production or the restoration or preservation of national cultural heritage through public services, public institutes, foundations and the other bodies listed in the law — subparagraph vi
The threshold falls by 20% for low-density territories: €400,000 in science, €220,000 in culture, eight jobs instead of ten
Low-density territories are defined by Portaria n.º 208/2017: fewer than 100 inhabitants per km² or GDP per head below 75% of the national average

General conditions

Third-country nationality — the regime does not apply to nationals of Portugal, the EU, the EEA, Andorra and Switzerland
The investment activity may not be directed, whether directly or indirectly, at investment in property
The applicant undertakes to meet the quantitative and time requirements of the investment for at least five years
No criminal record for an offence punishable in Portugal by imprisonment for more than a year
Lawful entry to and stay in Portugal at the time the application is filed

What it costs

Buying units in an investment fund (subparagraph vii)	500,000 EUR
Investment in scientific research (subparagraph v)	500,000 EUR
Investment in artistic production and cultural heritage (subparagraph vi)	250,000 EUR
Setting up or recapitalising a Portuguese company with job creation (subparagraph viii)	500,000 EUR
Receiving and analysing the ARI application, family reunification included	+842.80 EUR
Receiving and analysing the ARI application filed through the digital channel	632.10 EUR
Issuing the ARI permit	+8,418.90 EUR
Issuing the ARI permit when filed through the digital channel	6,314.20 EUR
Renewing the ARI permit	+4,210.30 EUR
Renewing the ARI permit when filed through the digital channel	3,157.80 EUR
Issuing a permit to a family member reunited with an ARI holder	+8,418.90 EUR
Issuing a family member's permit when filed through the digital channel	6,314.20 EUR
Renewing the permit of an ARI holder's family member	+4,210.30 EUR
Renewing a family member's permit when filed through the digital channel	3,157.80 EUR
Issuing the permanent residence permit for investment activity	+11,786.70 EUR
Issuing the permanent permit when filed through the digital channel	8,840 EUR
Renewing the permanent residence permit for investment activity	+5,894.10 EUR
Renewing the permanent permit when filed through the digital channel	4,420.70 EUR

Documents to gather

The pack is put together for the investor and for each family member. Documents are uploaded to the Portal ARI in PDF, each file no larger than 4 MB. Foreign documents are translated into Portuguese and certified at a Portuguese consulate or with an apostille.

A valid passport or other travel document; where there are several nationalities, all passports
Evidence of lawful entry to and stay in Portugal
Evidence of medical cover: a document showing enrolment in the National Health Service or an internationally recognised policy for the period of residence applied for
A criminal record certificate from the country of origin or from a country of residence for over a year, issued no more than three months earlier, translated into Portuguese and certified
An application on the approved form giving permission to check the Portuguese criminal record register
Evidence of the tax number of the country of origin, of residence or of tax residence, or evidence that there is none
A statement on one's honour that the quantitative and time requirements of the investment will be met for five years
Certificates that there are no debts to the tax service and social insurance, issued no more than 45 days earlier
A certificate from a bank authorised or registered with the Bank of Portugal confirming the actual transfer of a sum not below the one required by law
Documents for the specific investment option: employment contracts with staff, a certificate of ownership of fund units and a declaration from the management company, a certificate from the scientific institution, a declaration from the Directorate for Cultural Strategy, Planning and Evaluation, an extract from the commercial register
An extract from the commercial register, if the investment was made through a sole-shareholder limited liability company in which the applicant is a member
The receipt for the fee for receiving and analysing the application
For family members: criminal record certificates, certificates that there are no debts, documents on the family relationship and an undertaking by the investor with a certified signature
Where required — evidence of accommodation and of means of subsistence

How the process runs

The application is filed through the Portal ARI: prior electronic registration is mandatory. All fees are paid by the single payment document, the DUC; cash is not accepted. AIMA does not publish official statutory times for consideration.

1
Preparing the investment and the documents
before the application is filed
The investor obtains a Portuguese tax number, opens an account at a bank registered with the Bank of Portugal and transfers the funds by international transfer. The bank issues a certificate of the actual transfer, and the relevant institution or management company issues confirmation for its own investment option.
2
Registering on the Portal ARI
one working day
The investor or an authorised representative creates an account on the portal and opens a candidacy: the type of investment, passport details, address and telephone numbers, preferably Portuguese, and an email address for notifications. Family members are attached to the main applicant's file.
3
Uploading the documents and submitting the candidacy
depends on how ready the pack is
The documents for your investment option are uploaded to the portal in PDF, up to 4 MB each, and the candidacy is submitted. Files uploaded earlier are not deleted, even when updated versions are added.
4
Paying the fee by DUC
within the period stated in the document
In the payments section you enter the tax number and generate the single payment document, the DUC, for the fee for receiving and analysing the application. Payment outside the stated period may fail the automatic reconciliation.
5
AIMA's check of the candidacy
no statutory period
AIMA notifies you by email whether the candidacy has been accepted or needs corrections. Where documents are missing, out of date or uncertified, a notification arrives requiring the file to be updated on the portal.
6
Appointment at a Loja AIMA and biometrics
to AIMA's schedule
The agency sets an appointment at a Loja AIMA branch to hand over the originals and give biometric data. Missing the appointment without good reason can lead to the file being closed; where there is good reason, a new date is requested.
7
The decision and issue of the ARI card
after the appointment and payment of the issue fee
After a positive decision and payment of the issue fee, the applicant receives a resident card for investment activity valid for two years. Where the application is refused, the procedural rules on appeal apply, and any refund of the sums paid depends on a check by the services.

Who you can bring with you

The family reunification application is filed at the same time as the investor's application, but the decision on it depends on the main file being approved. The fees for issuing and renewing family members' permits are the same as for the investor.

Spouse

The marriage is evidenced by an up-to-date certificate; where there is doubt, AIMA asks for evidence that the family tie continues

Children under 17

Children of the spouses or of one of them, and minors dependent on them

Adopted children under 17

The adoption has been recognised by a decision of the competent authority of the country of origin, and that decision is recognised by Portugal

Adult children aged 18 to 25

Unmarried, dependent on the spouses or on one of them and studying, including at an educational institution in Portugal

Parents of the investor or of the spouse

First-degree relatives in the direct ascending line, provided they are dependants

Brothers and sisters under 17

In the care of the resident by a decision of the competent authority of the country of origin that is recognised by Portugal

Renewal and the grace period

Applications to renew ARI permits and the permits of reunited family members that expired between 22 February 2020 and 31 December 2026 are filed and paid for through the Portal de Renovações — the application, the documents and the fee all go through it. Appointments set earlier remain in force only where the notification expressly requires biometric data to be given; otherwise the procedure runs entirely remotely. Renewal involves checking a valid passport, a settled position on taxes and social insurance, a criminal record certificate, medical cover, that the investment has been kept, that the minimum periods of stay have been observed, means of subsistence and accommodation, and payment of the fees. The minimum presence in the country is seven days in the first year and fourteen days in each subsequent two-year period; evidence is requested where there is reasonable doubt. While renewal is sought on the basis of the investment the permit rests on, that investment has to be evidenced as still in place; if the investor has already obtained permanent residence on a separate ground, renewal is assessed against the requirements of that status. Fees are paid by the single payment document, the DUC; cash is not accepted.

What comes next: permanent residence and citizenship

Route to permanent residence

Permanent residence after 5 years, provided the investment is kept

Route to citizenship

Citizenship: 10 years of lawful residence, 7 years for nationals of the EU and of Portuguese-speaking countries (Lei Orgânica 1/2026, from 19.05.2026). Golden Visa time counts towards the term; applications before 19.05.2026 fall under the previous 5 years; language level A2

Frequently asked questions about Portuguese residence by investment

Does buying property give a right to ARI?

No. AIMA states expressly that the investment activity may not be directed, whether directly or indirectly, at investment in property. The options in force are units in non-property funds, setting up or recapitalising a Portuguese company, scientific research, cultural heritage and job creation. The restriction was introduced by Lei n.º 56/2023 of 6 October, which amended the ARI regime as part of a housing package.

How many days a year do you have to spend in Portugal?

The ARI regime requires a minimum presence: at least seven days in the first year and at least fourteen days in each subsequent two-year period. AIMA asks for evidence of presence where there is reasonable doubt, and reliable evidence of being in the country is then produced. Compliance with these periods is checked when the permit is renewed.

What fees do the investor and the family pay?

Under the fee schedule in force from 1 March 2026, receiving and analysing the ARI application, family reunification included, costs 842.80 euros, issuing the permit 8,418.90 euros and renewal 4,210.30 euros. Issuing and renewing the permits of reunited family members cost the same. The permanent permit for investment activity: 11,786.70 euros to issue and 5,894.10 euros to renew. Filing through the digital channel reduces the fees by 25%, and an assisted in-person appointment by 10%. Payment goes through the single payment document, the DUC; cash is not accepted.

Can less money be invested?

Yes, if the investment is made in a low-density territory: the threshold falls by 20%. In scientific research that is 400,000 euros instead of 500,000, in the cultural sector 220,000 euros instead of 250,000, and for job creation eight jobs instead of ten. Low-density territories are defined in Portaria n.º 208/2017 of 13 July: fewer than 100 inhabitants per square kilometre or GDP per head below 75% of the national average.

How is ARI renewed in 2026?

From 16 February 2026, renewing ARI permits and the permits of reunited family members goes through the Portal de Renovações — the only channel for filing the application and paying the fees. An in-person appointment is set only to give biometric data where the previous data is unusable; otherwise the procedure is entirely digital. Appointments set earlier remain in force where the notification stated that biometrics were needed.

Does the investment have to be kept after the card is issued?

Yes. On filing, the applicant signs a statement on their honour that the quantitative and time requirements of the investment will be met for at least five years. While renewal is sought on the basis of that investment, it has to be shown that the investment is still in place. Selling or changing the asset before the term is up can prevent renewal, and the investor must report any change of circumstances to AIMA.

When can an ARI holder apply for citizenship?

Following the changes made by organic law Lei Orgânica n.º 1/2026 of 18 May 2026, naturalisation requires at least ten years of lawful residence in Portugal, and at least seven years for nationals of countries with Portuguese as an official language and of EU member states. In addition you have to evidence, by test or certificate, sufficient knowledge of the Portuguese language, culture, history and national symbols, knowledge of fundamental rights and duties and of the political system of the state, and the absence of a final sentence to actual imprisonment for more than three years for terrorism, violent or especially violent crime, highly organised crime, offences against the security of the state or facilitating illegal immigration. Applications filed before the law came into force are dealt with under the previous version of the Nationality Act.

Who cannot use the ARI regime?

The regime does not apply to nationals of Portugal or to nationals of the European Union, the European Economic Area, Andorra and Switzerland. Applications are filed by third-country nationals who carry on investment activity in person or through a company established in Portugal or in another EU state with a permanent establishment in Portugal. Issuing the permit also requires that there is no criminal record for an offence punishable in Portugal by imprisonment for more than a year, no entry ban in force following a removal measure, and no grounds for refusing entry.

How long is the ARI card valid, and what can be applied for afterwards?

The temporary residence permit for investment activity is valid for two years from the date the card is issued. ARI holders and their reunited family members who meet the requirements of article 80.º of the Foreigners Act (REPSAE) may apply for a permanent residence permit for investment activity. That permanent permit is not subject to the loss of rights through a long absence from the country that normally threatens holders of permanent cards under the general rules.

What is needed for permanent residence under article 80.º after ARI?

The application is filed in person at a Loja AIMA no earlier than five years of holding a temporary permit. You will need: a valid passport, evidence of means of subsistence, a statement on your honour about your place of residence stating the legal basis on which you use the accommodation (owner, tenant and so on), a certificate that tax and insurance obligations are settled, and evidence of basic knowledge of Portuguese — by a certificate from an educational institution, IEFP courses, the CAPLE examination, or a certificate at level A2 or above from the Português Língua de Acolhimento course. A separate condition is the absence, over the last five years of residence in Portugal, of a custodial sentence which individually or in aggregate exceeds one year, even if it was suspended. The permanent card is valid for five years and is renewed every five years or when the data entered on it changes.

Other ways to move to Portugal

Every route in one list — migration programmes: Portugal.

The terms and the amounts are checked against official sources — the link sits under each section.Last checked on: 16 August 2026.