Portugal Golden Visa Requirements and Costs [2026]: Investment Routes, AIMA Fees, Total Cost by Family Size and 10-Year Citizenship

Portugal's Golden Visa (officially the Residence Permit for Investment Activity, ARI) grants a residence permit in exchange for a qualifying investment in, or contribution to, Portugal. The real estate purchase route ended in October 2023, and in 2026 new applications can be made through five routes, including a €500,000 fund investment and €250,000 in support for culture and the arts. The stay requirement is short — 7 days in the first year and 14 days in each subsequent 2-year period — but under the May 2026 law reform, the residence period for citizenship has been extended to 10 years in principle for Japanese nationals (and other nationals outside the EU and the Portuguese-speaking countries). This article sets out the requirements for each investment route, the fees of AIMA (the Agency for Integration, Migration and Asylum) and the total cost by family size, the stay requirement, the relationship with permanent residence and citizenship, and the application process.

*Amounts and rules are as of October 2, 2026. This article is an English version of our Japanese guide, adapted for foreign residents of Japan and international investors.

*This article is a general explanation based on publicly available information (AIMA's ARI guidance, FAQ and fee table; Article 90-A of the Foreigners Act, Lei n.º 23/2007; Lei n.º 56/2023; the nationality law amendment Lei Orgânica n.º 1/2026; and explanations by the Portuguese Ministry of Justice). AIMA's fees are revised every March 1, and the amount shown on the payment slip (DUC) issued by the Portal ARI takes precedence. The principal and returns of investment products are not guaranteed. Please consult a professional on investment and tax decisions before applying.

For an overview of moving to Portugal and a list of our related articles, see Portugal residence visa types and requirements.

Conclusion: five routes for new applications in 2026, real estate excluded

The routes we are asked about most often are the fund route, which takes the form of a managed investment, and the culture and arts support route, which has the lowest minimum. Applying by buying real estate became impossible under Lei n.º 56/2023 (the housing measures law) in October 2023. Furthermore, even under the current routes, investments aimed directly or indirectly at real estate are not accepted. Treat any claim that "you can qualify through a Portuguese real estate fund" as outdated.

In low-density areas, such as the sparsely populated interior, the law provides for a 20% reduction for the job creation, research and culture routes, but not for the fund and company investment routes. Because AIMA's published information on the reduced amounts is inconsistent, this article does not give definitive figures, and we recommend confirming with official sources before applying.

Points to note for each investment route

Fund route (€500,000)

Eligible funds are collective investment undertakings supervised by Portugal's securities regulator (CMVM) that, at the time of investment, have at least 5 years to maturity and invest at least 60% of their capital in companies headquartered in Portugal. Being regulated is not the same as having guaranteed principal or returns. Check the management fees, performance fees, subscription fees, maturity and redemption terms, and whether early withdrawal is possible in the key information document and fund rules. Because you must keep holding the investment to maintain your residence permit, plan on the money being tied up for at least 5 years.

Culture and arts support route (€250,000)

Although the minimum is the lowest, the money is often contributed as "support" rather than an "investment", and it may be money you should assume will not be returned. Before signing, confirm whether it will be returned, whether the receiving institution meets the conditions, and what the certificate to be submitted to AIMA will state.

Company incorporation and job creation routes

These routes are for people who will actually run a business in Portugal. Besides the investment itself, there are ongoing business operating costs such as salaries, social security and accounting. If you will actually do business in Portugal, it is worth comparing these routes with the D2 visa for entrepreneurs (Portugal residence visa types and requirements).

Costs: AIMA fees are charged per person

Separately from the investment, you pay AIMA an application processing fee and a residence permit issuance fee. These fees are charged for each applicant, including family members, and reduced rates apply to online (digital) applications.

The fees are revised every March 1 in line with the price index, so the amounts at renewal two or four years from now may differ from current ones.

Estimated total costs by family size

The first residence permit is valid for 2 years and is then renewed every 2 years. By year 5, when you can apply for permanent residence, you will have gone through the initial application plus two renewals. A simple estimate, assuming the 2026 digital rates stay the same, is as follows.

For example, if a couple with two children applies with a €500,000 fund investment, the investment plus the initial AIMA fees alone come to €527,785.20. Remembering that the investment does not increase with family size, but AIMA fees are charged per person makes budgeting easier.

Costs to budget for besides the investment

The estimate above does not include the following costs. When you obtain quotes, ask for each item to be shown separately with the payee, timing and refund conditions.

• Investment product costs: fund subscription fees, management fees and performance fees; administrative costs for cultural support, etc.
• Professional fees: a Portuguese lawyer (application representation and checking the investment's eligibility), and fees for handling renewals
• Japanese documents: obtaining, translating and apostilling the criminal record certificate and, for Japanese nationals including family members, the family register (koseki) extract
• Banking, transfers and exchange rates: opening a Portuguese bank account, international transfer fees and exchange rate differences. If you fund the investment in yen, a ¥1 move in the euro rate changes the cost of €500,000 by JPY 500,000
• Health insurance: coverage for the application period
• Travel and stays: a trip to register biometric data, and trips to meet the minimum stay requirement
• Tax: fees for consulting tax advisers in both Japan and Portugal

Eligible family members and the stay requirement

Family members can apply for residence permits together with the investor through "family reunification", and the investment does not need to increase. Those who may be eligible include a spouse (or legally recognised partner), minor children, dependent unmarried adult children in education, and dependent parents of the investor or spouse. For adult children and parents, dependency and student status must be shown with documents.

According to AIMA, the stay requirement is 7 days in the first year and 14 days in each subsequent 2-year period. The biggest feature of Portugal's Golden Visa is that you can maintain it while keeping your base of life in Japan. With the residence permit, you can also travel to other Schengen countries within the limits of a short stay, but you have no right to live or work long term in other countries.

Having few days of stay is a separate issue from tax treatment. If you stay in Portugal for more than 183 days in a year, or have a home there that serves as your base of life, you may be treated as a Portuguese tax resident, and in Japan, too, your place of residence is determined by the reality of your life. IFICI, regarded as the successor to the former NHR regime (which in principle stopped accepting new applicants at the end of 2023, with only transitional measures in 2024), is also not a regime available simply because you are an investor.

Permanent residence and citizenship: now 10 years in principle

Before the nationality law was amended, you could apply for naturalisation after 5 years of legal residence, which is why Portugal's Golden Visa was promoted as "an EU passport in 5 years". Japanese nationals applying on or after May 19, 2026 need 10 years in principle. In addition, the provision introduced in 2024 that "counts the waiting period from the residence permit application date to the approval date" has been deleted, so care is also needed regarding how waiting periods are treated.

For Japanese nationals: under Japan's Nationality Act, a Japanese national who voluntarily acquires a foreign nationality loses Japanese nationality. Before deciding whether to aim for citizenship, please also check Countries that allow dual citizenship.

Application process and timeline

AIMA does not publish an average processing time from a new ARI application to receipt of the card in a form it can guarantee. Timelines vary greatly depending on document corrections and appointment availability, so be wary of anyone who states definitively that "it takes X months". Documents from Japan (criminal record certificate, family register extract, etc.) need an apostille and translation.

Frequently asked questions

Can I apply for the Golden Visa by buying property in Portugal?

No. New applications through the real estate purchase route closed in October 2023. Under the current routes, investments aimed directly or indirectly at real estate are not accepted either.

Is €500,000 enough to cover the costs of the fund route?

No. €500,000 is the minimum investment; on top of it come AIMA fees (€6,946.30 per person at digital rates), fund fees, lawyer's fees, and the costs of documents, transfers, insurance and travel.

Does adding family members increase the investment amount?

No. However, AIMA fees are charged per person: for a couple with two children, the initial fees alone are €27,785.20.

Can I get citizenship in 5 years?

Japanese nationals applying for naturalisation on or after May 19, 2026 generally need 10 years of legal residence. What you can apply for after 5 years is permanent residence, which also requires meeting conditions such as language.

Can I maintain it while living in Japan?

Yes. The stay requirement is 7 days in the first year and 14 days every 2 years thereafter. However, your tax residence is determined separately based on days of stay and your housing situation.

Which is better, Portugal's or Greece's Golden Visa?

In Greece you can apply through real estate, family eligibility extends to both spouses' parents, and there is no stay requirement. On the other hand, the residence permit is renewed every 5 years, and citizenship requires actual residence. In Portugal real estate cannot be used, and citizenship now takes 10 years. Choose based on the form of investment and your goals (Greece Golden Visa requirements and costs).

Summary: separate the investment from the "non-recoverable costs"

In 2026, with real estate no longer eligible, Portugal's Golden Visa is applied for through five routes, including a €500,000 fund investment and €250,000 in culture and arts support. The investment does not increase with family size, but AIMA fees are €6,946.30 per person at digital rates, and renewal fees are also due every 2 years. While the short stay requirement lets you maintain the visa while living in Japan, the residence period for citizenship has been extended to 10 years in principle for Japanese nationals. It is important to judge not only by the entry-level investment amount but by the total cost, including fees, professional fees and exchange rates.

Visas for actually living in Portugal, such as the D7 (pension and passive income) and D8 (remote work), are compared in Portugal residence visa types and requirements. For a comparison of Golden Visas by country, see What is a Golden Visa? (country comparison), and for a list of minimum costs, see Minimum costs of permanent residency and citizenship by country.

References (primary sources)

• AIMA: Residence permit for investment (ARI, Article 90-A of the Foreigners Act)
• AIMA: ARI FAQ (minimum stay and renewal)
• AIMA: Fee table (Portaria n.º 307/2023, 2026 edition)
• GrowIN Portugal, August 27, 2026: AIMA fee table (ARI issuance and renewal)
• Immigrant Invest, September 24, 2026: Golden Visa renewal, stay requirement and 10-year citizenship
• Explanation of Lei Orgânica n.º 1/2026 (nationality law amendment, in force May 19, 2026)
• This site: Portugal residence visa types and requirements
• e-Gov Japanese law search: Nationality Act (Article 11, paragraph 1)

Rules and amounts in this article are as of October 2, 2026.