Can I buy a property in Portugal and use it toward ARI?

No — since October 2023, real estate cannot directly or indirectly qualify as ARI investment activity, regardless of the property's value or location.

What's the minimum amount to qualify now?

€220,000 for the cultural-heritage route in a low-density area is the lowest published threshold; the fund and job-creation-linked routes start at €500,000.

Does ARI still lead to permanent residence and citizenship?

Yes — ARI holders who meet the standard residence and other requirements can apply for permanent residence, and for citizenship under Portugal's nationality law, subject to the usual conditions.

Portugal's Golden Visa: does real estate still qualify?

Plain-language guide · Portugal · general information

Short answer

Real estate has not qualified since Lei n.º 56/2023 (6 October 2023) rewrote the ARI regime. Portugal's immigration authority AIMA states this in plain terms: qualifying investment activity "cannot, directly or indirectly, target real estate investment." Buying an apartment in Lisbon or a villa in the Algarve, on its own, does not create any ARI eligibility today.

For the full fund-route mechanics, see immicor's Portugal Golden Visa fund-route deep dive.

What still qualifies

Five routes remain, each with a minimum:

creating at least 10 jobs in Portugal (reduced to 8 in low-density areas)
€500,000 capital transfer into scientific research activity at a public or private research institution
€250,000 into artistic production or national cultural heritage support (reduced to €220,000 in low-density areas)
€500,000 into units of a Portuguese non-real-estate collective investment fund, with at least 5-year maturity and at least 60% of the fund's value invested in Portuguese companies
€500,000 to set up or expand a Portuguese company combined with creating at least 5 permanent jobs (or maintaining at least 10 jobs, 5 of them permanent, for a minimum of 3 years)

What ARI still gets you

Entry to Portugal without a residence visa, a minimum stay requirement of just 7 days in year one and 14 days a year after, Schengen travel, family reunification, and — after meeting the standard requirements — eligibility to apply for permanent residence or Portuguese citizenship.

The fund route (€500,000, non-real-estate) is the closest thing to a passive-capital option left — but "non-real-estate" is enforced strictly: even indirect property exposure inside a fund's portfolio can disqualify it, so fund selection needs specialist due diligence.

Common questions

Can I buy a property in Portugal and use it toward ARI?: No — since October 2023, real estate cannot directly or indirectly qualify as ARI investment activity, regardless of the property's value or location.
What's the minimum amount to qualify now?: €220,000 for the cultural-heritage route in a low-density area is the lowest published threshold; the fund and job-creation-linked routes start at €500,000.
Does ARI still lead to permanent residence and citizenship?: Yes — ARI holders who meet the standard residence and other requirements can apply for permanent residence, and for citizenship under Portugal's nationality law, subject to the usual conditions.

Not sure which of the five routes fits your situation? Tell the assistant your rough budget and whether you want a passive or active investment, for a plain-language walkthrough.

This guide is general information about Portugal's ARI programme and is not immigration advice. Confirm current thresholds and requirements with AIMA (aima.gov.pt) or an appropriately licensed Portuguese immigration lawyer.