Portugal Golden Visa 2026: Programme Update
Lei 56/2023 narrowed the Portuguese Golden Visa (ARI) to a smaller set of investment routes. Here is what remains available in 2026 and what applicants should still verify before committing funds.
The Autorização de Residência para Investimento (ARI), commonly known as the Portugal Golden Visa, remains a residence-by-investment route under Lei n.º 23/2007, as amended. It grants a renewable residence permit to non-EU/EEA/Swiss nationals who make a qualifying investment and meet the minimum-stay requirement, without requiring them to live in Portugal full time.
What was removed by Lei 56/2023
Lei n.º 56/2023, part of the 'Mais Habitação' package, closed two routes that had previously been the most popular: the purchase of qualifying real estate, and the direct transfer of €1,500,000 (or more) in capital. Neither route accepts new applications under the current law. Any offer, brochure or intermediary suggesting that property purchase or a straightforward capital transfer still qualifies for the ARI should be treated as out of date or incorrect.
Routes that still qualify
- Investment in units of qualifying investment funds (venture capital or similar collective investment undertakings) that are regulated and registered with the CMVM and meet the criteria set out in the ARI legal framework.
- Creation of a minimum number of jobs in Portugal, as defined by the applicable legislation.
- Capital transfer supporting scientific research carried out by public or private institutions within the Portuguese scientific system.
- Support for artistic production or the recovery/maintenance of national cultural heritage, channelled through the bodies designated under the relevant legislation.
- Incorporation of a company or subscription of capital in an existing Portuguese company, combined with the creation or maintenance of jobs, in the manner set out in the ARI rules.
Minimum investment amounts, job-creation thresholds and eligible fund criteria are set out in the legislation and CMVM registers rather than repeated here as fixed figures; always confirm the current thresholds against AIMA's own guidance and the fund's regulatory documentation before committing capital.
AIMA's role
AIMA (Agência para a Integração, Migrações e Asilo) is the public body responsible for receiving ARI applications, verifying supporting documentation, conducting biometric collection, issuing and renewing residence cards, and publishing programme statistics. AIMA replaced SEF (Serviço de Estrangeiros e Fronteiras) as the authority handling immigration matters, and its published material is the primary reference point for current procedural requirements.
What applicants should verify before proceeding
- That the specific fund or scheme being proposed is currently registered with the CMVM and meets the ARI eligibility criteria, rather than assuming eligibility from marketing material alone.
- That the minimum investment amount and any related thresholds quoted by an intermediary match the current legal framework, since amounts have changed over time.
- That any adviser recommending a fund, tax structure or immigration strategy holds the appropriate independent professional regulation for that discipline.
- That AIMA's own published pages are consulted for the current list of accepted documents and process steps, since administrative practice can be updated between legislative changes.
This page is reviewed periodically against the legislation and AIMA's published material. Where a rule or figure cannot be confirmed from a primary source, it is described in general terms here rather than stated as a fixed number.