Portugal Residency by Investment

Portugal’s Autorização de Residência para Investimento (ARI) grants residency to non‑EU/EEA/Swiss investors and their families with flexible stay requirements and Schengen mobility. Since 2023 reforms, the real estate and pure capital‑deposit routes were removed; remaining options focus on productive investment. Applications are now handled by AIMA (which replaced SEF).

Eligible investment routes (verify current rules and thresholds)

- €500,000 in qualifying Portuguese investment/venture capital funds dedicated to the capitalization of companies (CMVM‑regulated, ≥5‑year maturity, ≥60% invested in Portugal; funds should not be real‑estate focused).

- €500,000 in research activities conducted by public or private institutions within Portugal’s scientific/technological system.

- €250,000 in support of artistic production or preservation/rehabilitation of national cultural heritage (often reducible to €200,000 in designated low‑density areas—confirm eligibility).

- Business and jobs: create at least 10 new jobs; or invest €500,000 into a Portuguese company (incorporation or capital increase) combined with creating at least 5 permanent jobs or maintaining at least 10 jobs for 3 years.

Key benefits

- Right to live and work in Portugal; include spouse/partner, dependent children (including adult students), and dependent parents.

- Low physical presence: typically 14 days in each 2‑year period (≈7 days/year) to maintain status.

- Pathways to permanent residence and citizenship after 5 years of legal residence (A2 Portuguese language exam required for naturalization).

Process and timeline

- Obtain NIF (tax number) and a Portuguese bank account; complete due diligence on the chosen route.

- Subscribe/invest and collect proof (fund subscription certificates, research/cultural agreements, or corporate/job evidence).

- File the ARI application online; upon pre‑approval, attend biometrics in Portugal; receive residence cards.

- Due to backlogs, allow 6–12+ months from filing to card issuance; renew while maintaining the qualifying investment.

Tax and practical notes

- Residency does not automatically create tax residency (183‑day and center‑of‑vital‑interests tests apply). Portugal’s NHR regime has been reformed; transitional and new incentive regimes may apply—obtain bespoke advice.

- Program rules evolve; confirm current thresholds, low‑density reductions, family definitions, and fund/company eligibility before committing.