Portugal Golden Visa 2026: €500,000 Fund Minimum

The minimum is €500,000 in a qualifying investment fund. Residential real estate stopped being a route into the programme in October 2023, and the stay requirement is 14 days in every two-year period — among the lowest in Europe. The full process usually takes 12 to 24 months.

The Golden Visa, formally the Autorização de Residência para Atividade de Investimento (ARI), or residence permit for investment activity, allows citizens from outside the European Union, the European Economic Area and Switzerland to obtain Portuguese residency through a qualifying investment in Portugal.

How much you need to invest in 2026

The most used route is investment in qualifying Portuguese funds, with a minimum of €500,000.

The law is specific about the vehicle. It must be a non-real-estate collective investment undertaking incorporated under Portuguese law, and it must also meet three requirements:

• a minimum maturity of five years at the time of investment;

• at least 60% of the investment value placed in companies headquartered in Portugal;

• the investment held for a minimum period of five years.

The other routes still in force:

• €500,000 to incorporate a Portuguese company creating five permanent jobs (or to increase the capital of an existing company, under the conditions set out in the law);

• €500,000 in scientific research carried out by institutions within the national scientific and technological system;

• €250,000 in artistic production or in the restoration and maintenance of national cultural heritage;

• the creation of at least 10 jobs, with no minimum investment attached.

The €1,500,000 capital transfer, for years the simplest alternative to real estate, stopped being a route in October 2023. It still appears in a great deal of outdated material online.

Checking whether a fund actually meets the legal requirements is where these applications most often fail. A fund marketed as "Golden Visa eligible" is not, on its own, any guarantee that AIMA will accept it.

What changed in October 2023

Under Article 42 of Law no. 56/2023 of 6 October, no new applications are accepted under sub-paragraphs i), iii) and iv) of paragraph d) of Article 3(1) of Law no. 23/2007 of 4 July. In the consolidated text currently in force, those three sub-paragraphs are marked as repealed.

Three routes closed at once:

• the purchase of real estate (sub-paragraph iii);

• the purchase of property for refurbishment (sub-paragraph iv);

• the €1,500,000 capital transfer (sub-paragraph i).

This is where most confusion starts. People know real estate was removed, but still count on the capital transfer route, which went in the same law.

Existing holders were not affected. The law expressly preserved the renewal of permits granted under the previous regime, including family reunification permits, and kept valid any applications already awaiting a decision when it came into force.

Frequently asked questions

Does the Portugal Golden Visa still accept property purchases?

No. Residential property investment stopped being a route in October 2023. The main option now is investment in qualifying funds registered in Portugal.

What is the minimum investment in 2026?

€500,000 for qualifying funds, which is the most used route. The same amount applies to incorporating a company with five permanent jobs and to scientific research; artistic production and cultural heritage require €250,000. Creating 10 jobs carries no minimum investment.

Can I still get a Golden Visa through a capital transfer?

Not through the €1,500,000 route, which was removed in October 2023 alongside real estate. Capital transfers still exist, but the destination is fixed by law: qualifying funds, incorporating a company, scientific research or artistic production.

Do I need to live in Portugal to keep the Golden Visa?

No. The minimum stay is 14 days in every two-year period, which makes the programme workable for someone whose main life stays in another country.

Who can apply?

Any national of a country outside the European Union, the European Economic Area and Switzerland, provided they have no criminal record incompatible with Portuguese law and the investment meets the legal requirements in force.

Can family members be included?

Yes. The programme covers a spouse or civil partner, children under 18, dependent adult children and, under certain conditions, direct ascendants of the holder or the spouse.

How long does the process take?

Processing times at AIMA vary with the applicant's profile and the documents filed. In practice the full process tends to take 12 to 24 months, covering preparation, submission and review by the competent authority.

What the Golden Visa gives you beyond residency

• free movement in the Schengen Area, with visa-free access to 29 countries;

• inclusion of the family: spouse, minor children, dependent adult children and, under certain conditions, ascendants;

• a minimum stay of 14 days for every two years the permit is valid;

• a route to permanent residency;

• a route to Portuguese nationality.

If nationality is the end goal, the residency periods required have changed — see the changes to the Portuguese nationality law.

The Golden Visa in international planning

Holding European residency with a minimal physical presence makes the Golden Visa an efficient planning tool, without requiring the investor to relocate or move their business.

It is used mostly by entrepreneurs and international investors, by families securing a European base for the next generation, by remote professionals, and by asset structures that benefit from an anchor inside the European Union.

If you are already in Portugal on another basis, different rules apply — see the recent changes to immigration law and our page on legalisation of foreign nationals.

How we handle these cases

A Golden Visa is not simply an immigration file. It is a wealth decision involving significant capital, scrutiny of the source of funds, and regulatory obligations that leave no room for improvisation.

Our work covers:

• legal and immigration analysis of the investor's profile;

• due diligence on the fund or investment structure;

• regulatory compliance checks;

• strategy for including family members;

• liaison with AIMA and the other Portuguese authorities;

• coordination with financial advisers and international specialists;

• follow-through until the residence permit is granted.

Partner Bárbara Ferrari holds a Master's in Economic Criminal Law from the University of Lisbon, with research and publications on compliance, money laundering, due diligence and legal liability in international financial structures (publications). Matteuz Dutra, reading for a Master's in International Tax Law at the same university, works on structuring for international investors, cross-border tax impact, and asset organisation in residency-by-investment matters.

That combination is what matters in a process where AIMA will look at the source of the funds and the compliance of the structure, not just at the form.

Talk to us

For a first assessment, have these to hand: the nationality of everyone you intend to include, the source and location of the capital you plan to invest, and whether you have already identified a specific fund. With that we can tell you in the first conversation whether the route works and what is missing.

Get in touch with Dutra & Ferrari Advogados — Lisbon, Portugal.