International Mobility

Investment Funds (Golden Visa)

With real estate gone, the investment fund route has become one of the main doors to the Golden Visa. Instead of buying property, the investor subscribes units in an eligible fund in Portugal and gains the residence right.

How it works

Verifying the fund's eligibility and its regulation by the CMVM.
Subscribing the units, with proof of the lawful origin of funds.
Filing the ARI application with AIMA and maintaining the investment for the legal period.

View all services

Legal framework

Route provided for in the ARI regime (Law no. 23/2007, Article 90.º-A), after Law no. 56/2023.
Funds regulated and supervised by the CMVM; minimum maturity of 5 years and, as a rule, ≥60% invested in companies based in Portugal.
Reference amount of €500,000, set by law and subject to revision.

In depth

Fund eligibility criteria

To count for the Golden Visa, the fund must be a collective investment undertaking constituted under Portuguese law, with no real estate exposure, a minimum maturity of five years and, as a rule, at least 60% of its capital invested in companies based in Portugal. The reference subscription amount is €500,000.

These criteria stem from the ARI regime after Law no. 56/2023 and may be revised. We always confirm the requirements in force and the specific status of the fund in the CMVM register.

Due diligence before investing

Eligible is not the same as safe. Before investing, we analyse the strategy, the management team, the costs (subscription, management and redemption fees), the liquidity and the fund's track record. Returns are never guaranteed and capital is at risk.

The aim is to align the investment with your profile and the Golden Visa timeline, avoiding funds designed merely to "tick the visa box" without long-term soundness.

Frequently asked questions

How much must I invest?

The reference amount on the fund route is €500,000, set by law and subject to revision. We always confirm the amount in force for your case.

Are the funds safe?

They are regulated by the CMVM, but, like any financial investment, they carry risk: the value can vary and returns are not guaranteed.

How long must I keep the investment?

As a rule, at least five years, matching the fund's minimum maturity and the holding period required for the Golden Visa.

Does any fund qualify?

No. Only eligible funds count (no real estate, minimum maturity and the allocation to companies in Portugal). We always verify eligibility in the CMVM register.

Blog

View all articles →

International Mobility

Portugal Golden Visa: how it works and where to start

What Portugal's Golden Visa is, how it works, the current routes and the amounts involved. A straightforward guide to European residence and citizenship.

Sep 15, 2026Read article →