Portugal D9 Golden Visa

Written by Luis Minvielle Moderated by Oleksandra Dosii

Luis Minvielle

Luis is a writer with over 5 years of experience in B2B software. Even though he has always worked in tech, a sector he regularly publishes about, his initial incursions into writing were, curiously enough, music essays discussing scenes from different parts of the world—most likely to deal with his unfulfilled ambition of becoming a neo-soul crooner.

Oleksandra Dosii

Oleksandra is a dedicated marketer with a passion for growing HR-tech products. She believes content marketing is about delivering high-quality content that provides value—not just generating leads. Since 2016, Oleksandra has been involved in tech talent relocation.

Last update: April 1, 2025

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Portugal D9 Visa, commonly recognised as the Golden Visa but officially known as the Residency Permit for Investors (ARI), offers non-EU/EEA/Swiss nationals a way to gain Portuguese residency through investment. While real estate is no longer an option (In 2023, the government reckoned it was creating a housing crisis), there are still numerous ways to qualify.

In return, Golden Visa holders can enter Portugal without a residence visa, live and work there while keeping a residence elsewhere, travel freely within the Schengen area, bring family members, and apply for permanent residency after five years.

 

D9 visa duration: Portuguese Golden Visa duration

The Portugal D9 Visa is a valid residence document on its own, not a residence visa. This means you won't have to start the residence application right away, unlike other visas such as the D2, D7, or D8. Your first residency card under the Golden Visa is issued for a period of two years, while D9 cards after renewal are issued for three years. After this five-year period, you become eligible for citizenship or permanent residence if you wish to apply.

D9 visa requirements and documents

The Portugal D9 visa is available to non-EU nationals who invest in the country. It does not apply to Portuguese, EU, or EEA citizens. To qualify, investors must meet a minimum investment requirement in Portugal, with options such as:

• Transferring at least €1 million (including shares or equities).
• Creating at least 10 jobs in Portugal.
• Investing €350,000+ in scientific research.
• Investing €250,000+ in cultural heritage or artistic production.
• Investing €350,000+ in investment or venture capital funds.
• Investing €350,000+ in a new business that creates 5+ jobs or reinvesting in an existing company.

In 2023, with the Mais Habitação program, the Portuguese government removed real estate purchases from this list.

If the investment is made through a company, the investor is only responsible for their share of the investment. Investments must be maintained for at least five years after receiving the residence permit. Any changes to the investment type must be approved by AIMA (formerly SEF) and completed within three months.

For the application, you will need the following documentation:

• Completed visa application
• Valid national passport: Valid for at least three months after the visa’s expiration.
• 2 passport-sized photos: Taken in the last six months.
• Proof of legal residence: Of your country of nationality or where you reside, valid beyond the visa’s expiry date.
• Criminal record certificate: Issued within the last 3 months from where you’ve lived for over a year.
• Travel Insurance: Must cover medical expenses, emergencies, and repatriation.
• Proof of financial resources: You’ll need savings equal to at least 12 months of the Portuguese minimum wage (€870/month), totalling €10,440. Anyway, since Portugal calculates yearly wages over 14 months, it's safer to have €12,180. Add 50% more for a spouse and 30% per child.
• NIF (taxpayer identification number): Required for tax purposes.
• Proof of accommodation: Booking, rental contract, lease agreement, etc, for at least 12 months.
• Cover letter: Explaining why you want to apply and your source of income.
• Declaration under Oath of Honour: Stating you will comply with the minimum quantitative and temporal requirements of the investment.
• Specific documentation: By type of investment.

Portugal also requires applicants who are not in Portugal to get a tax representative in the country to acquire a NIF (the taxpayer number) for them, needed to open a bank account.

How to apply for the Portuguese D9 visa: A step-by-step guide

Step #1 – Prepare your application

Collect all necessary documents for yourself and any dependents.

Step #2 – Obtain a Portuguese NIF and Open a Bank Account

Obtain your NIF (tax identification number) through your Portuguese tax representative and set up a bank account, which you can do remotely.

To get a NIF, you’ll need:

• Proof of residence from your home country
• A copy of your passport
• A signed power of attorney

Step #3 – Choose and Fund Your Investment

Select an investment option and complete the funding process.

Step #4 – Submit Your Application to AIMA

Submit your application to the AIMA (Portuguese Immigration and Borders Service) Investment Program Portal. At this stage, everything is managed remotely. (The Golden Visa is one of the few visa pathways in Portugal in which scheduling an appointment with AIMA is fairly easy!)

Step #5 – Attend Your Biometrics Appointment in Portugal

Choose a date for your biometrics appointment with AIMA.

Step #6 – Receive & Renew Your Golden Visa

Once issued, the Golden Visa must be renewed after two years. The next renewal extends your status for another three years.

Step #7 – Apply for Portuguese Citizenship or Permanent Residency

After five years, you can apply for permanent residency or Portuguese citizenship.

Where to apply for a Portuguese D9 visa

To apply for a Portugal D9 Visa, you first need to access and register through AIMA’s ARI Portal. Then, you’ll need to complete the application with your personal details, investment type, contact information, and required documents. After the application is submitted, you’ll have to pay the application fee by generating the Single Collecting Document (DUC) and following the payment instructions. After all this is done, just wait for the AIMA’s confirmation.

D9 visa fees: Portugal Golden Visa fees or total cost

There are a few fees to consider for the Portuguese D9 visa. The processing fee is €605.10 per person. This fee is paid once in the beginning and with each renewal. The initial application fee, required only at the start of the process, is €6,045.20 per person. The application fee for renewals, so every 2–3 years, is €3,022.60 per person.

Having in mind the minimum investment is €250,000 (specific to cultural heritage or artistic production), and the €12,180 needed for proof of funds, you will need at least €268,830 in savings for your individual application. This does not include additional costs such as family members, hiring immigration specialists, flights, or travel insurance.

Portugal is one of the most developed countries in terms of visas for expats. They seem to have thought of everything. But, compared to similar visas in other countries such as Ireland, this is definitely a lot of money you need to invest.

In Ireland, you can become eligible for a start-up visa (not the same as a Golden Visa, of course, but still similar) with a €50,000 investment. If you’re American, you can even access the Dutch DAFT Visa for the equivalent of $5,000. But then again, those Irish and Dutch visas are probably more comparable to the Portugal D2 visa, which is known as the Immigrant Entrepreneur visa.

Now, it’s not that the Portuguese visa is the most expensive option out there. If you compare it against neighbours Spain, then this Golden Visa is actually accessible. The Golden Visa that the Spaniards put forward is confusing, hard to qualify for, and requires, at least, a €500,000 investment.

The conclusion is: If you think that saving a quarter of a million euros to get a visa is too much, Portugal has other options. And so does Europe. Some are cheaper than this Golden Visa, but some are even more costly.

Get expert help for your Portugal D9 Visa

Portugal enjoys notable economic growth, and, depending on which way you see it, also offers one of the most economical investment visa options in Europe. As we outlined, the Portuguese Golden Visa is far more accessible than neighbouring Spain, where the minimum investment is €500,000, twice the size of the D9.

The Portugal D9 Golden Visa opens the door to residency, travel, and even more investment opportunities, but, as with other Portuguese visas, the process can be puzzling. Applying can be complex, with strict investment rules, detailed documentation, and multiple steps to follow.

That’s why you should consider expert help. You can talk to visa consultants who can help you start your Golden Visa application. Or maybe even move on to a different visa path for Portugal or Europe.

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