VisaPath

D9 / Golden Visa (ARI)

Portugal residence through qualifying investment — a flexible path toward EU access and long-term roots.

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CostHigh
ProcessingMedium
ComplexityModerate

Cost, processing time and complexity are VisaPath's general guidance, not official figures, and vary by applicant and current rules.

Who it's for

Investors

About this route

Portugal's D9 Golden Visa (officially the ARI, or Residence Permit for Investment Activity) is a residence-by-investment route that lets non-EU nationals and their families obtain Portuguese residency by making a qualifying contribution to the economy. Since the 2023 housing reforms, real estate purchases are no longer a qualifying route; today the program centers on regulated investment funds, job creation, and donations to cultural or scientific causes. It is potentially suitable for investors who want a low-physical-presence European base with a possible long-term path to permanent residence and citizenship, subject to current rules.

Who it's for

  • Investors seeking a European residence base with minimal physical-stay obligations
  • Families wanting to include a spouse, dependent children, and dependent parents under one application
  • High-net-worth individuals comfortable allocating capital to regulated Portuguese investment funds
  • Globally mobile professionals planning a long-term path toward EU permanent residence or citizenship
  • Those who want Schengen mobility without relocating their primary residence right away

Benefits

  • Visa-free travel across the Schengen Area as a Portuguese residence permit holder
  • Low minimum physical-stay requirement — commonly just a short stay averaging around a week per year, subject to current rules
  • Family inclusion: a spouse or partner, dependent children, and in many cases dependent parents may be added
  • Right to live, work, and study in Portugal during the residence period
  • A potential long-term pathway toward permanent residence and, later, citizenship — timelines were extended under the 2026 nationality reforms and professional review is recommended

Requirements

  • A qualifying investment maintained for the required holding period — commonly a regulated investment fund subscription, job creation, business capital, or a cultural/scientific contribution
  • Non-EU/EEA/Swiss nationality (EU citizens already hold residence rights and typically do not need this route)
  • A clean criminal record from your country of residence and origin
  • A Portuguese tax number (NIF) and a Portuguese bank account to channel the investment
  • Valid health insurance or coverage recognized in Portugal
  • Proof that invested funds come from lawful, traceable sources

Documents commonly requested

  • Valid passport and recent passport-style photographs
  • Criminal-record certificates from your country of residence and nationality
  • Proof of the qualifying investment (fund subscription statements, transfer records, or equivalent)
  • Portuguese tax number (NIF) and bank documentation
  • Evidence of valid health insurance or coverage in Portugal
  • Source-of-funds documentation showing lawful origin of the invested capital
  • Family relationship documents (marriage and birth certificates) for any dependents
Madeira: lush island living, mild all year

Madeira: lush island living, mild all year

How to apply

  1. 1

    Have your situation assessed for an initial route match and choose a qualifying investment category with professional review

  2. 2

    Obtain a Portuguese tax number (NIF) and open a Portuguese bank account

  3. 3

    Complete the qualifying investment (e.g., subscribe to a CMVM-regulated fund) and gather proof

  4. 4

    Compile and legalize/translate the supporting document set

  5. 5

    Submit the residence-permit application to AIMA (the agency that replaced SEF)

  6. 6

    Attend a biometrics appointment in Portugal once scheduled

  7. 7

    Receive the residence card and renew on the required cycle while maintaining the investment

Good to know

  • Real estate purchase is no longer a qualifying route — this is a major change from older guides you may find online, so treat outdated property-based advice with caution.
  • Investment funds carry market risk: capital is not guaranteed, returns vary, and the required holding period locks up your money. Independent financial and legal review is strongly recommended.
  • Portugal's 2026 nationality reforms extended citizenship timelines (commonly cited as around 10 years for most non-EU nationals and 7 for EU/CPLP nationals); these rules continue to evolve, so confirm current law before relying on any timeline.
  • Processing through AIMA has faced significant backlogs, and total timelines can run well over a year; minimum-stay and renewal obligations must be tracked carefully throughout.
  • This page is general information, not legal advice, and is not an eligibility determination — a professional review is recommended before committing capital.

Common questions

No. Real estate purchases were removed as a qualifying route under the 2023 housing reforms. New applications now rely on options such as regulated investment funds, job creation, business capital, or cultural and scientific contributions. Many older online guides are outdated on this point.

The program is known for a low physical-stay requirement — commonly an average of roughly a week per year across the permit cycle. Exact obligations depend on current rules and your renewal schedule, so confirm the latest figures during professional review.

It can be a long-term pathway toward permanent residence and, potentially, citizenship, but it is not automatic. Portugal's 2026 nationality reforms extended the timelines, and applicants typically must meet residency duration, language, and other conditions. This is not an eligibility conclusion — professional review is recommended.

Yes, family reunification is a core feature. A spouse or partner, dependent children, and in many cases dependent parents may typically be included, often within the same application. Documentation proving relationships and dependency is required.

Yes, the ARI program remains active in 2026, though it has been substantially reshaped — most notably by the removal of real estate and a shift toward fund-based and contribution-based routes. Rules continue to evolve, so always verify current requirements before acting.

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Этот инструмент предоставляет общую оценку подбора маршрутов на основе введённой вами информации. Он не является юридической, налоговой, финансовой или иммиграционной консультацией. Он не гарантирует соответствие требованиям, одобрение, выдачу визы, одобрение ВНЖ, гражданство, открытие банковского счёта или какой-либо результат со стороны государственных органов. Рекомендуется профессиональная оценка.