Does buying property in Portugal lead to a Golden Visa, the investment residence permit (ARI)?
No. Buying property is not among the grounds for an ARI, and an investment under the current grounds cannot go into property, even indirectly (art. 3 n.5 of Lei 23/2007). New applications under subparagraphs i), iii) and iv) of art. 3 n.1 d) of Lei 23/2007 are not accepted (Lei 56/2023, art. 42 n.1).
Official source
-
Lei n.º 56/2023,
read on
direta ou indiretamente, ao investimento imobiliário
Permits that already existed
On renewal, an existing permit moves to the regime of art. 89 n.4 of Lei 23/2007, with a minimum stay of 7 days in the first year and 14 days in each later period of 2 years.
Grounds the law still lists
Subparagraph ii), jobs: at least 10 jobs.
Subparagraph v), research: €500,000 or more.
Subparagraph vi), arts and heritage: €250,000 or more.
Subparagraph vii), funds: from €500,000 in units of collective investment undertakings not connected with real estate.
Subparagraph viii), a company: from €500,000 to set up or recapitalise a company, and 5 permanent jobs.
In low-density territories, under subparagraphs ii), v) and vi) the requirement can be 20% lower.
The general minimum period for the investment activity is 5 years.
Permits granted
2025: 2,685 investment residence permits, per AIMA's annual report. The report adds to these 3,967 family-reunification permits under Lei n.º 23/2007, art. 98.º.
How it changed
On 7 October 2023, Lei n.º 56/2023 took effect, and applications pending on that date stay valid.