Golden Visa or D7 Visa: Differences in Investment, Minimum Stay and the Path to Citizenship

For people who have assets and want a foothold in Portugal, the question is usually between two very different routes: the Golden Visa (Residence Permit for Investment Activity – ARI), and the D7 visa, for people who live on their own income. Both give legal residence and count toward Portuguese citizenship. But one requires a qualifying investment and almost no presence in the country; the other requires a modest income and a lot of presence.

This article compares the two on four points: investment, minimum stay, costs and the path to citizenship, under the rules in force in October 2026.

The underlying difference: investing or living there

• Golden Visa (ARI): a residence permit granted to people who make and keep, for at least five years, a qualifying investment in Portugal (Art. 90-A and Art. 3(1)(d) of Law 23/2007, the Foreigners Act (Lei de Estrangeiros)). It is not a consular visa: the application is filed with AIMA (Agency for Integration, Migration and Asylum), without a residence visa.
• D7 visa: a residence visa requested at the consulate by retirees and by people who live on income from property, intellectual property or financial investments, with income available in Portugal (MNE, documents for the residence visa). In Portugal, it leads to an ordinary temporary residence permit.

In short: the Golden Visa suits people who want residence without moving their life to Portugal; the D7 suits people who actually want to live there.

Investment: how much each route requires

Golden Visa: from €250,000, without real estate

Since October 7, 2023, with Law 56/2023 (Mais Habitação, "More Housing"), it is no longer possible to obtain the ARI by buying real estate, through urban rehabilitation or by a simple capital transfer of €1 million, and the remaining options cannot be aimed, directly or indirectly, at real estate investment. The options in force are:

• creating at least 10 jobs;
• €500,000 in scientific research activities of institutions that are part of the national scientific and technological system;
• €250,000 in artistic production or the recovery or maintenance of the national cultural heritage;
• €500,000 in non-real-estate investment funds set up under Portuguese law, with a maturity of at least five years and at least 60% invested in companies headquartered in Portugal;
• €500,000 to set up a company headquartered in Portugal and create five permanent jobs, or to increase the capital of an existing company under the conditions set by law.

In low-density areas, the amounts for the job creation, research and culture options may be 20% lower. We explain each option in the article on the Golden Visa options in force in 2026 and on the page about the Golden Visa in Portugal.

D7: income, not investment

The D7 does not require any investment. It requires regular income of at least the Portuguese minimum wage, which in 2026 is €920 per month (Decree-Law 139/2025), for the first adult, plus 50% for each additional adult and 30% for each minor, secured for at least 12 months (MNE, means of subsistence). For one person, that is €11,040 per year. We explain the calculation in the article on how much income to prove for the D7.

Minimum stay: how long you need to spend in Portugal

This is the most important practical difference.

• Golden Visa: a minimum stay of 7 days, consecutive or not, in the first year, and 14 days in each following two-year period (Art. 65-C of Regulatory Decree 84/2007 (Decreto Regulamentar); AIMA).
• D7: the temporary permit may be canceled if the holder, without good reason, stays outside Portugal for six consecutive months or eight non-consecutive months during its validity (Art. 85(2)(a) of the Foreigners Act). In practice, the D7 assumes that you live in Portugal.

People who want to keep their life and business in Brazil and spend short periods in Portugal are unlikely to fit the D7. People who want to move with their family, enroll their children in school and use the Portuguese health system tend to find the D7 a less expensive route.

Validity, renewals and permanent residence

• Golden Visa: the initial permit is valid for two years and is renewed for two-year periods, as long as the investment is kept (Art. 90-A(2)).
• D7: the temporary permit is valid for two years and is renewable for three-year periods (Art. 75(1)), with a new check of the means of subsistence and accommodation.

In both cases, after five years of temporary residence it is possible to apply for permanent residence, with means of subsistence, accommodation and basic knowledge of Portuguese (Art. 80). Under the Golden Visa, the holder receives a permanent ARI.

Costs: fees and tied-up investment

The Golden Visa has its own AIMA fees, much higher than those for the D7. According to the AIMA fee schedule (February 2026 version), granting the ARI costs €8,418.90 (€6,314.20 with the reduction for online applications), renewal costs €4,210.30 (€3,157.80), and there is also an application review fee of €842.80 (€632.10) per applicant, including family members. Each reunified family member pays equivalent grant and renewal fees.

For the D7, the main official upfront cost is the consular fee for the national visa, €110 per application (MNE, fees), plus the AIMA residence permit fees and VFS service charges, when used.

Beyond the fees, the Golden Visa ties up the capital for at least five years, with the risk specific to each investment. We do not assess returns or recommend funds; we check whether the investment meets the legal requirements.

Family

This is a point where the Golden Visa has the advantage. Since Law 61/2025, family reunification generally requires two years of residence by the permit holder, but family members of ARI holders are exempt from this period (Art. 98(3)). The family members' applications can be filed together with the investor's.

With the D7, family members who move at the same time can apply for an accompanying family visa simultaneously (Art. 58(5)). Those who come later face the two-year rule, with exceptions for minor children. See the page on family reunification.

Path to citizenship

Under Organic Law 1/2026 (Lei Orgânica), in force since May 19, 2026, Brazilians need seven years of legal residence to apply for naturalization. The time spent waiting for a decision on the residence permit no longer counts for new applications.

The ARI is a residence permit provided for in the Foreigners Act, so the time as a holder counts as legal residence, even with the reduced minimum stay. The D7 also counts, and the holder will actually be living in Portugal. In both cases, the other requirements apply, such as knowledge of the culture and national symbols and the ability to support oneself. See the page on citizenship by length of residence and the article on the new Nationality Act.

Taxes

Holding a residence permit does not make anyone a tax resident. Portuguese tax residence depends on staying more than 183 days in any 12-month period or on having a home that suggests an intention to keep it as a habitual residence (Art. 16 of the Personal Income Tax Code (Código do IRS)).

• With the Golden Visa and the minimum stay, the investor can remain a tax resident of Brazil.
• With the D7, people who actually move tend to become tax residents of Portugal, taxed on worldwide income, and must handle their definitive departure from Brazil for tax purposes.

The former NHR (Non-Habitual Resident regime) has been repealed for new residents, and IFICI, which replaced it, does not come from the ARI or the D7. See the page on tax residence between Brazil and Portugal.

Which to choose: typical profiles

• Business owner who will stay in Brazil and wants a second residence and a path to citizenship: the Golden Visa tends to be more suitable, if the investment fits into their wealth planning.
• Retiree who wants to live in Portugal: the D7 is usually the natural route, at a much lower cost.
• Family with significant assets who wants to move with their children: it is worth weighing the cost of the Golden Visa against the advantage in family reunification and the freedom to travel.
• Someone who does not yet know whether they will live in Portugal: the Golden Visa keeps the option open, but the investment should make sense in its own right.

How Sene & Araújo can help

Sene & Araújo has lawyers admitted to the Brazilian Bar Association (OAB) and the Portuguese Bar Association (Ordem dos Advogados), with offices in São Paulo and Albufeira, and acts directly in proceedings in Portugal. We review your profile, the source of funds, your family and your goals, check the legal compliance of the Golden Visa investment, prepare the D7 application at the consulate and follow both routes at AIMA, up to permanent residence and citizenship, in coordination with international estate planning. Talk to our team.

• Law 23/2007 — Foreigners Act (Lei de Estrangeiros), consolidated version
• Regulatory Decree 84/2007 (Decreto Regulamentar), consolidated version
• Law 56/2023 of October 6 (Mais Habitação)
• Law 61/2025 of October 22
• Organic Law 1/2026 of May 18 (Nationality Act)
• Decree-Law 139/2025, of December 29 (2026 minimum wage, Art. 3)
• MNE — Means of subsistence (national visas)
• MNE — Supporting documents: residence visa
• MNE — Fees for national visas
• AIMA — Residence Permit for Investment (Art. 90-A)
• AIMA — Schedule of fees and other charges (February 2026)

Sene & Araújo Sociedade de Advogados team. Content prepared and reviewed by the firm's lawyers, admitted to the Brazilian Bar Association (OAB) and the Portuguese Bar Association (Ordem dos Advogados), with offices in São Paulo and Albufeira. The provisions cited were checked against the official sources listed above. Meet the team.