Official name: Autorização de Residência para Atividade de Investimento (ARI)
A temporary, renewable residence permit for non-EU investors who make a qualifying non-real-estate investment in Portugal and keep it for five years. Buying property no longer qualifies.
The ARI regime, in force since 8 October 2012, allows third-country nationals who carry out a qualifying investment activity to obtain a temporary residence permit without first needing a residence visa.
The routes currently listed by AIMA are investment-fund, research, cultural-heritage, company and job-creation routes. Real-estate purchase routes are no longer listed and an ARI investment may not be directed, directly or indirectly, at real estate.
The permit itself is residence — not citizenship. Holders may later apply for permanent residence and, separately, for Portuguese nationality by naturalisation if they meet every requirement of the Nationality Law.
A
B
€250,000 is the cultural-heritage route (a transfer to qualifying cultural bodies). Fund, research and company routes start at €500,000. Some routes are reduced by 20% in low-density territories. Fees are separate (see below).
Investment funds & financial assets
€500,000
Collective investment undertakings constituted under Portuguese law, not real-estate funds, with a maturity of at least five years at the time of investment and at least 60% of investments in companies with their head office in Portugal (sub-paragraph vii). The fund's value can fall.
Business
€500,000
Incorporate a commercial company with its head office in Portugal and create 5 permanent jobs, or increase the capital of an existing company and create at least 5 permanent jobs or keep at least 10 jobs (5 permanent) for at least three years (sub-paragraph viii).
Business
No fixed minimum
At least 10 jobs (8 in low-density territories). The investment may not be directed, directly or indirectly, at real estate (sub-paragraph ii).
Other verified routes
€500,000
Capital transfer applied to research by public or private scientific research institutions in the national scientific and technological system; €400,000 in low-density territories (sub-paragraph v).
Other verified routes
€250,000
Capital transfer to qualifying public bodies, foundations or associations for artistic production or the recovery/maintenance of national cultural heritage; a 20% reduction may apply in low-density territories (sub-paragraph vi).
Maintaining the investment: Keep the qualifying investment for at least five consecutive years from the date the residence permit is granted.
Listed separately from the investment. Amounts can change; unknown amounts are shown as “Not verified” and are not zero.
| Fee | Amount | Applies to |
|---|---|---|
| Application analysis fee (grant or renewal)€632.10 when handled through the digital channel. | €843 | Per application, including family members |
| Grant of the ARI permit€6,314.20 through the digital channel. | €8,419 | Investor |
| Renewal of the ARI permit€3,157.80 through the digital channel. | €4,210 | Investor, per renewal |
| Grant of residence permit for a reunited family member€6,314.20 through the digital channel. | €8,419 | Each family member |
| Renewal for a reunited family member€3,157.80 through the digital channel. | €4,210 | Each family member, per renewal |
| Permanent residence permit for ARI holders (if later requested)Renewal of the permanent permit: €5,894.10. | €11,787 | Per person |
C
Open to most nationalities (with listed exclusions)
Not applicable to Portuguese nationals or nationals of the EU, EEA, Switzerland or Andorra, who do not need it.
Family reunification can be requested at the same time as the investor's ARI application and depends on the investor's permit being granted. Each family member pays their own fees.
Spouse; children up to 17; dependent, single children aged 18–25 who are studying; dependent first-degree ascendants of the investor or spouse; minor siblings under the investor's guardianship (decision recognised by Portugal); adopted minors under the conditions set by law.
D
Valid passport or travel document
Proves identity and nationality.
Proof of legal entry and stay in Portugal
Shows lawful presence when applying.
Proof of health coverage
National health service registration or internationally recognised health insurance for the permit period.
Criminal record certificate(s)
From the country of origin and any country of residence for more than one year; issued within 3 months, translated into Portuguese and certified/apostilled.
Tax identification number proof
Portuguese NIF or equivalent from the country of origin/residence.
Application form with consent to Portuguese criminal record check
Approved form authorising AIMA to consult the Portuguese criminal record.
Sworn declaration (compromisso de honra)
Commitment to meet the quantitative and five-year requirements.
No-debt certificates (Tax Authority and Social Security)
Issued within 45 days, or declarations of non-registration.
Proof of payment of the analysis fee
Receipt for the ARI analysis fee.
Bank declaration of the investment transfer
From a credit institution authorised in Portugal, confirming the required amount was transferred.
Route-specific evidence
E.g. employment contracts (jobs route), research institution declaration, cultural-sector (GEPAC) declaration, certificate of fund units free of charges, or commercial registry certificate.
Family relationship evidence
Marriage/birth certificates and proof of dependency for family members.
Translation, certification, legalisation or apostille may be required. The responsible authority can always request additional evidence.
E
Confirm the route, the source of funds and that the investment does not target real estate.
Transfer the funds and obtain the bank and route-specific declarations.
Mandatory pre-registration; the analysis fee is paid by Single Collection Document (DUC).
Single in-person visit for document checks and biometrics; family members' applications may be processed alongside.
If approved, pay the issuance fee; the residence permit card is issued.
Keep the investment, meet the minimum stays and renew through AIMA's portal.
Processing time: Not verified
F
Last verified 6 October 2026
AIMA · checked 6 Oct 2026
AIMA · checked 6 Oct 2026
AIMA · checked 6 Oct 2026
General guidance only
Program rules, eligibility, investment thresholds and immigration requirements may change. Information is for general guidance and does not constitute legal, immigration, tax or investment advice.Greece
A five-year, renewable residence permit for non-EU nationals who buy qualifying real estate in Greece. Thresholds are €800,000, €400,000 or €250,000 depending on location and property type. It does not allow employment.
Italy
A two-year visa for non-EU citizens who invest in Italian government bonds, companies, innovative startups or philanthropic initiatives. Property purchases are not a qualifying option.
United Arab Emirates
A long-term, renewable UAE residence visa for owners of property worth at least AED 2 million. Dubai and Abu Dhabi services issue it for 10 years; spouse, children and (in Dubai) parents can be sponsored.
