D7 vs ARI: D7 – Passive income / retirement visa vs Golden visa (ARI – residence permit for investment)
Figures last checked 2026-10-14. Items marked check could not be fully confirmed on an official page.
| D7 – Passive income / retirement visa | Golden visa (ARI – residence permit for investment) | |
|---|---|---|
| Who it's for | People with stable passive income: pensions, rentals, dividends, royalties. [MNE Vistos – Residency visa documents] | Non-EU investors; enters without a residency visa and applies via the AIMA ARI portal. [AIMA – ARI (golden visa), art. 90.º-A] |
| Minimum income / savings | At least the minimum wage: €920/month (€11040/year) for the main applicant, +50% (€460) per extra adult, +30% (€276) per child. [MNE Vistos – Means of subsistence] | Current routes include: €500,000 in Portuguese non-real-estate investment funds (5+ yr maturity, 60% in PT companies); €500,000 in research; €500,000 company capital + 5 jobs; job creation; cultural/heritage support. Real-estate routes were removed by Lei 56/2023. [AIMA – ARI FAQ (investment routes)] |
| Fees | Per MNE fee table. Not confirmed on an official page; check the source.check [MNE Vistos – Fees] | AIMA ARI analysis and issue fees are published under 'Taxas' on the AIMA ARI page. Not confirmed on an official page; check the source.check [AIMA – ARI (golden visa), art. 90.º-A] |
| Processing time | See MNE deadlines; varies by consulate.check [MNE Vistos – Deadlines] | AIMA has a large backlog; no reliable official timeframe.check [AIMA – ARI (golden visa), art. 90.º-A] |
| Initial permit & renewal | Residency visa: 4 months, 2 entries; then apply to AIMA for a residence permit. Temporary residence permit then renewals. [MNE Vistos – Type of visa] | Temporary permit; minimum stay 7 days in year 1 and 14 days in each later year. [AIMA – ARI (golden visa), art. 90.º-A] |
| Path to PR / citizenship | Permanent residence after 5 years of legal residence; citizenship by naturalisation after 10 years (7 for CPLP/EU nationals) under rules in force since 19 May 2026 [Justiça – new nationality rules from 19 May 2026] | May apply for permanent residence and naturalisation (see nationality law). [AIMA – ARI (golden visa), art. 90.º-A] |
| Family members | Reunification generally after 2 years (Lei 61/2025); families often apply together at the consulate, so check with yours.check [Lei 61/2025 (Diário da República)] | Family reunification available under ARI. [AIMA – ARI (golden visa), art. 90.º-A] |
| Tax notes (IFICI / NHR 2.0) | Pensions and passive income are generally taxed at normal IRS rates; IFICI covers only eligible work income. NHR closed to new entrants. [EBF art. 58.º-A (IFICI)] | No automatic tax regime; tax residence depends on time spent in PT. [Portal das Finanças – IFICI leaflet] |
| Where to apply | Consulate, then AIMA. [MNE Vistos – Type of visa] | AIMA ARI Portal (online). [AIMA – ARI (golden visa), art. 90.º-A] |
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