Unless lawyers can show the information published on Aima’s website, it means maintaining investment is a requirement. Lawyers’ opinions without having a concrete written instruction/rule by Aima mean nothing on this matter. They are not Aima and cannot set rule of this game.
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It is in the rules. You must maintain your investment and meet the 7 days per year. Only advantage is 5 years at a time renewal - at the same yearly rate as GV!
BTW almost every EU country requires B2 language for residence/citizenship so that may well come.
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Which rules? Is there something in the law or the accompanying regulations that states the investment must be maintained? If so, I haven’t found it. If you have seen an official text that states the investment must be maintained, please share it - it would help a number of folks in these forums who are interested in the point. Thanks
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Sorry I looked through my files but do not have that paperwork anymore and its not on the internet.
I do remember that it made no sense because:
- There was no cost difference between 2 years at a time and five years at a time (renewal was not a problem in 2018) and
- The house had to be kept anyway
- The normal PR required too much time in Portugal
- Therefore the passport was the dominant decision
Those rules may still be on the old SEF site
https://aima.gov.pt/pt/viver/autorizacao-de-residencia-permanente-art-80-o
Does not appear to be a requirement to hold but you must have a place to stay, income etc.
I agree - I don’t think ARI PR under 65-K exempts you from the usual Article 80 requirements to show subsidence income and accommodation. The latter is odd, given the minimal stay requirements, and I don’t know whether AIMA actually insists on it.
Hey guys, let’s put this one to bed 
The minimum term of 5 years is written unequivocally in the Article 65B of the Golden Visa regulations (Decreto Regulamentar n.º 84/2007):
"Minimum time requirement for investment activity
The minimum time requirement of five years for maintaining investment activity is counted from the date of concession of the residence permit."
So I don’t see how a GV PR or a normal PR would require another 5 years of investment 
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That raises an interesting question, which I haven’t seen covered elsewhere:
Does that five year minimum also apply to renewal of the ARI or special D2, or just to the GV PR? In other words, can I liquidate my investment ASAP after the 5 year mark, and still continue to renew my regular ARI or special D2?
The law seems to support this interpretation, but I suspect that it has not been regulated or well-tested.
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To my understanding the answer should be ‘yes’ - you can liquidate after 5 years counting from the date of your very first ARI card.
I cannot imagine how this Article 65B can be interpreted any other way.
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I agree with your interpretation of the law.
Alas, we have observed the uneven handling of last year’s decree regarding application vs. card issue date. That law is crystal clear.
(OK, mostly crystal clear. There are some minor unknowns about what counts as the application date for certain visa types, but it certainly comes well before the card issue date.)
You are comparing an unregulated law with regulated.
Guys feels like we’ve already given up on fighting against the citizenship law change 
I did my part in writing the legislators, signing the petition, pressuring my law firm to engage with the government
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You are correct, broadly speaking. However, it was viewed as a victory by the legal community in the recent AIMA + PAIIR summit when AIMA declared that GV PR is not subject to the ongoing investment requirement. I believe that if the interpretation of the law had already been clarified and reduced to practice, aligning with our sensible shared perspective, this would not have been a topic warranting discussion.
Keep in mind that AIMA cannot change the law, only interpret it. Similar to how AIMA declared that citizenship clock starts with application, but the current government still plans to change that.
Some posters would give you that impression, and then some. However, I’ve heard through the grapevine that connected people have been quietly speaking with the politicians, looking for a solution.
I think it will be quiet until the CT rules on the immigration law changes, and the president does his thing. The press will discuss that for a few days. The immigration law doesn’t affect me but the outcome will be a sign of things to come.
The nationality law is on the back burner until the politicians come back from summer vacation; the topic will come back to life then. I doubt anyone will pay much attention to our opinions during the month of August.
Wishing us all the best!
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Keep in mind that AIMA cannot change the law, only interpret it.
Thank you, I am aware of that.
The law says that ARI investors need to hold their investments for a minimum of five years:
https://aima.gov.pt/pt/viver/autorizacao-de-residencia-permanente-art-80-o
AIMA interpreted that to mean that investors do not need to retain their investments when applying for the GV ARI after 5+ years, which makes perfect sense.
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Sadly not as renewing a GV requires showing you hold the property.
The logic here is infalable. 
Well these are different things. The GV is specifically for people holding investments. So it makes sense you must continue holding the investment to renew.
The GV PR is a modified type of PR. PR in general, has very few conditions attached to renew it: that’s why it’s called “permanent”. In the law, the GV PR modifies the PR [Article 65 K: ::: Dec. Reglm. n.º 84/2007, de 05 de Novembro]
- removing some conditions - the requirements for minimum stay
- adding minor conditions - only GV holders can transition to GV PR, and the fees are higher
So in the law there is nothing saying that GV PR requires the investment be maintained to renew it.
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When people have no good news to share and boost their PR campaign, they take already existing facts and settled matters and pose as if they have scored a huge win.