Portugal Golden Visa Requirements Today for Americans and Britons

The Golden Visa is the common name for the residence permit for investment activity, known in Portuguese as ARI, in article 90-A of the Foreigners Law (Lei n.º 23/2007). Today it asks for an investment that meets at least one of five listed types, held for at least five years, and the law no longer lists the property purchases that made the scheme famous. For where it sits among the other routes, read the overview of residence routes to Portugal, which did not describe this one because it had not read the supporting provisions. This guide does.

We read the consolidated Foreigners Law and its implementing regulation, AIMA’s pages on the scheme and AIMA’s fee table on 18 October 2026. The date of the latest information in this guide is 10 September 2026, the date of Law 62/2026, which the consolidated Foreigners Law lists as its latest amendment. Article 90-A itself last changed with Law 18/2022 of 25 August 2022. This is a reading of the official texts, not legal advice: an investment of this size is a matter for a Portuguese lawyer.

What does the law require for the Golden Visa today?

Article 90-A says the residence permit is granted to third-country nationals who meet four conditions together. In the law’s words, they:

• meet the general conditions of article 77 for a residence permit, except the one about holding a residence visa
• “hold valid Schengen visas” (the text’s phrase is vistos Schengen válidos)
• regularize their stay in Portugal within 90 days of the first entry into the country
• carry out an investment activity as defined in point d) of article 3(1)

The general conditions of article 77 include means of subsistence, accommodation, registration with social security where applicable, no criminal conviction for an offense punishable in Portugal by more than one year in prison and no entry ban or Schengen alert. Article 90-A(2) renews the permit in periods of two years as long as the holder shows that any one of the investment requirements is still met.

Two points deserve care. AIMA describes the scheme as one that gives a residence permit “with exemption from the residence visa” to enter Portugal, while the law’s text asks for valid Schengen visas and a 90-day window to regularize the stay. We found no official page that explains how these fit together for passport holders who enter visa-free, as Americans and Britons do. Before you travel, ask AIMA, and read our guide to the 90/180 rule, which sets the days you may spend in Portugal without a permit.

Which investments does the law list now?

Article 3(1)(d) defines investment activity as an activity, carried out personally or through a company, that normally leads to at least one of the situations below, in Portugal and for a minimum of five years. The numbers are the law’s own. AIMA’s page lists the same five.

Three more items, i, iii and iv, appear in the current text as “(Revogada)”, which means revoked. The text does not say here what they were. The earlier version of article 3 that the consolidated page keeps (the one of Law 41/2023 of 10 August 2023) shows them as a capital transfer of 1.5 million euros, a property purchase of at least 500,000 euros, and the purchase and rehabilitation of older or urban-regeneration properties for at least 350,000 euros. The next version, from Law 56/2023 of 6 October 2023, shows all three as revoked. AIMA lists Law 56/2023 among the legislation of the scheme and describes it as approving housing measures and amending the ARI regime.

Article 3(5) adds that the investment activities of types ii and v to viii may not be aimed, directly or indirectly, at real estate. Article 3(4) says they are to be assessed every two years for their effect on science, culture, foreign direct investment and job creation, so the list can change again.

Is there a lower amount in low-density areas?

Article 3(2) allows the minimum for types ii, v and vi to be 20% lower when the activity is carried out in low-density territories. Article 3(3) defines these as the territories listed in Portaria n.º 208/2017 with fewer than 100 inhabitants per square kilometer or a GDP per capita below 75% of the national average.

AIMA’s page gives the figures as 8 jobs instead of 10 and 400,000 euros instead of 500,000 for research. For the cultural type it prints 220,000 euros, although 20% below 250,000 euros is 200,000. We did not find an official page that explains the difference, so confirm the amount with AIMA before you commit any money to that route.

How is the investment held and proved?

The implementing regulation (Decreto Regulamentar n.º 84/2007, articles 65-A to 65-K, last amended by Decreto Regulamentar n.º 1/2024 of 17 January 2024) fills in the detail:

• the investment can be made personally or through a single-member private limited company (sociedade unipessoal por quotas) of which you are the partner, with a current commercial registry certificate proving it
• it must already be made when you file the application
• the five years are counted from the date the residence permit is granted
• you present a declaration from a credit institution authorized or registered with the Banco de Portugal confirming the actual transfer of at least the legal amount
• you also present a declaration of honor that the amount and time requirements will be met, and a negative debt declaration from the tax authority and from social security, or proof that you are not registered with them

What else you present depends on the type. For jobs, the employment contracts. For research, a declaration from the research institution. For culture, declarations from the beneficiary and from the culture ministry’s strategy and planning office. For funds, a certificate that you own the units free of liens and a declaration from the management company. For a company, the commercial registry information proving its creation or your shareholding and, for a share purchase, the purchase contract. The money has to arrive as an international capital transfer. Where the money lands first is a banking question that this guide does not cover.

What documents does AIMA ask for?

AIMA’s page lists the general documents for all five types, in addition to the investment proof above.

AIMA’s FAQ adds that foreign documents must meet the translation, certification and legalization or apostille rules, that files are PDFs of at most 4 MB, and that you may also be asked for proof of accommodation and means of subsistence under the rules for other residence permits. It advises getting a Portuguese tax number before you submit, which is the subject of our guide to the Portuguese NIF. For the health cover item, see healthcare access for newcomers.

How does the application work?

AIMA’s Portal ARI is the entry point. Per its page, the portal lets you register the application and the family reunification requests, upload the documents, and generate the Documento Único de Cobrança (DUC) for the fees. The steps it lists are:

1. register on the portal and fill in the type of investment, identity, passport and address
2. upload the documents for your type of investment and submit
3. print the DUC with the analysis fee and pay it within the stated period
4. wait for AIMA’s email saying the application was accepted or has errors to correct
5. attend the appointment at an AIMA store with the documents and for biometric data

AIMA says this is a simplified procedure with a single visit to an AIMA store. A lawyer or other legal representative with a valid power of attorney can register and act for you on the portal. Payment is by DUC or by card at the appointment, and AIMA’s FAQ says cash is not accepted. The regulation says the decision belongs to AIMA’s board and that AIMA may consult consular posts about the evidence.

What does it cost?

AIMA’s fee table, which it publishes under Portaria n.º 307/2023 of 13 October 2023, has a section for investment residence permits. The first column holds the amounts of the ministerial order; AIMA’s second column, headed in-person and digital service, applies the 25% reduction of point XIV of the table.

The table also has fees for second and third copies of the card, and for the permanent investment permit, which AIMA says may carry specific fees. Check the current table before you budget, since fees are set by ministerial order.

How long is the permit, and what do you have to do to keep it?

The temporary permit is valid for two years from the date the card is issued, and renewed in periods of two years under article 90-A(2). To renew, AIMA’s FAQ lists a valid passport, tax and social security obligations met, health cover, evidence that the investment is maintained, means of subsistence and accommodation, the minimum stays and payment of the fees. The law asks for the renewal request at least 30 days before the permit expires.

The minimum stays are in article 65-C of the regulation: 7 days, consecutive or not, in the first year and 14 days, consecutive or not, in each following period of two years. AIMA says evidence of presence may be requested if doubts arise.

AIMA warns that selling or changing the investment can compromise renewal if it is still the basis for the permit, and that any change should be assessed first with the specific case. AIMA’s FAQ says renewals of permits expiring between 22 February 2020 and 31 December 2026 go through its Renewals Portal; what applies after that date is not stated on the pages we read.

Can family come with you, and what comes after?

AIMA lists as family members the spouse, children up to 17 or incapable and dependent on the couple, adopted children up to 17, unmarried children aged 18 to 25 who are studying, dependent parents of the investor or of the spouse, and siblings up to 17 under the investor’s guardianship. The family request can be made at the same time as the investor’s, but depends on the investor’s grant.

For permanent residence, AIMA says holders who meet article 80 may apply. That article asks for temporary residence for at least five years, no conviction above one year in prison in the last five years, means of subsistence, accommodation and basic Portuguese. The regulation (article 65-K) says investment holders and their family who qualify get a permanent investment permit, to which the article 85 rules on cancelling a permit for absences from Portugal do not apply. AIMA also says holders may apply for naturalization if they meet the other requirements of the Nationality Law; that law is covered in our citizenship guides, which come separately.

Is there another route that uses investment evidence?

AIMA has a separate page for article 122(1)(r), a permit for people who prove an investment activity as defined in article 3. AIMA says this is not the same as the 90-A regime, that it does not grant the same benefits, such as the permitted period of absence, and that the applicant does not need to prove legal entry into Portugal. We did not read the provisions behind that route in full, so we do not describe its conditions here.

If you plan a business rather than a financial investment, the entrepreneur routes are separate subjects, and we found no entry for investment activity under article 90-A on the foreign ministry’s visa pages on types of visa and residence documents, only documents for entrepreneurs. Retirees and remote workers have their own guides: the retirement and passive income visa and the remote work visa.

What is different for Britons?

The scheme is for third-country nationals, and AIMA says it does not apply to Portuguese citizens or to nationals of EU and EEA states, Andorra and Switzerland. Since Brexit, Britons are third-country nationals for this purpose. Our guide for Britons moving to Portugal after Brexit explains the difference. Nothing in the pages we read treats Americans differently from other third-country nationals. Tax on the investment and on any income it produces is a separate subject that these pages do not cover.

What changed most recently?

The latest information used here is Law 62/2026 of 10 September 2026, the last amendment the consolidated Foreigners Law lists. It is listed among the amendments of article 3, but we did not compare what it changed there. The changes that shaped the scheme as it stands are Law 56/2023 of 6 October 2023, which the text shows removing the property and 1.5 million euro items, and the regulation’s changes by Decreto Regulamentar n.º 1/2024 of 17 January 2024. Because this regime has changed repeatedly and the list is under periodic review, treat this guide as a reading of the texts of 18 October 2026 and check with AIMA before acting.

For the wider picture of working in Portugal, see working in Portugal as an American or a Briton.

Official pages read on 18 October 2026: the consolidated Foreigners Law (Lei n.º 23/2007) and the consolidated Decreto Regulamentar n.º 84/2007, as reproduced by the Procuradoria-Geral Distrital de Lisboa; AIMA’s pages on the investment residence permit (article 90-A), the Portal ARI, the ARI FAQ and article 122(1)(r), and AIMA’s fee table under Portaria n.º 307/2023; and the foreign ministry’s visa pages on types of visa and documents for residence.