The Residence Permit for Investment Activity (ARI) scheme, in force since 8 October 2012, allows non-EU citizens to obtain temporary residence in Portugal through investment, without the need for a prior visa.

Golden Visa Benefits
• Entry into Portugal without a residence visa.
• Right to live, work and study in Portugal, with a minimum stay of only 7 days in the first year, and 14 days in each subsequent two-year period.
• Free movement within the Schengen Area.
• Family reunification options, allowing family members to also obtain residence permits.
• Eligibility for permanent residence or Portuguese citizenship after 5 years, in accordance with the Nationality Law.

Golden Visa in 2025: Requirements and New Rules
As of October 2023, with the approval of the “More Housing” programme, real estate investment is no longer eligible for new applications.
To obtain a Golden Visa in 2025, a minimum foreign investment must be held for at least 5 years, under the following eligible categories:

1. Capital Transfer
• €500,000 in investment funds or non-real estate venture capital funds (e.g. private equity), with at least 60% invested in Portuguese companies.
• €500,000 in scientific research projects, in either public or private institutions.
• €250,000 in artistic production or cultural heritage preservation.
• €500,000 for the incorporation or capital reinforcement of a Portuguese company, with the obligation to create or maintain at least 5 permanent jobs for a minimum of 3 years.

2. Job Creation
• Creation of at least 10 permanent jobs in Portugal.

Application Process and 2025 Updates
1. Proof of Investment: The applicant must prove the investment prior to submission.
2. Online Submission: The application is submitted to AIMA (Agency for Migration and Administrative Mobility).
3. In-Person Interview: After preliminary approval, an in-person interview is mandatory.
4. Processing Times: The issuance currently takes 12 to 15 months due to administrative delays. However, AIMA aims to reduce processing times in 2025.
5. Validity and Renewal: The initial residence card is valid for 2 years and renewable in 3-year periods, provided the investment and minimum stay requirements are maintained.