Investment in real estate in Portugal is on the rise. Although the credit crisis hit Portugal as hard as any other southern European country and prices were between 20% and 30% below its peak in 2015, there was a great return and investors are buying more and more properties in cities like Porto and Lisbon. In the city of Porto, properties above € 500,000 saw a growing demand from foreign investors, making the city one of the most attractive places for investors. Players in the real estate market targeting the Golden Visa now have an excellent opportunity to get a decent return on their investments. Investors seeking not only a property to invest but also a vacation home in which they can spend their leisure time should seek professional advice.
What is Golden Visa?
It is now possible for foreign investors to secure a residence permit in Portugal in accordance with the laws in force in the country. This golden opportunity continued to attract many foreign investments to this beautiful country. Of all the benefits of Golden Visa, the main reason for investors to consider it attractive is the fact that with this visa you can not only enter and stay without problems in Portugal, but also travel throughout the Schengen area (Europe) with much more freedom to visit, work or invest.
When was it released?
The Portuguese Gold Visa Program is considered the best investment scheme in Europe by foreign investors, given its many benefits and flexibility. The Portuguese government launched this program in 2012 and actively promoted it to possible investors ever since. Investors who can buy real estate worth € 500,000 in Portugal can guarantee a residence permit not only for themselves, but also for their dependent children. To ensure that Golden Visa is regularly renewed, investors must spend a minimum of two weeks in Portugal every two years.
What’s the purpose?
The main objective of this scheme is to make Portugal a attractive investment for investors in order to benefit from foreign investment, which in turn will help create more business and jobs. The scheme is also intended to make Portugal accessible to other countries, to increase investment in real estate, to improve international relations, to allow cultural exchange and the integration of investors in Portugal, who will also have access to other language-speaking countries in the region with developing economies.
Who is eligible?
Foreigners who do not reside in any European country and wish to invest in Portugal are eligible for a gold visa, provided that they invest in person or through a company for a minimum period of 5 years:
Investment in real estate of 500 thousand euros or more.
Transfer of capital in the amount of EUR 1 million or more.
Creation or maintenance of a minimum of 10 jobs.
– Passport issued by the government or any other form of valid identification
– Proof of entry and legal stay in the country
– Proof of health insurance
– Request for an investigation into the criminal record by the SEF
– Certificate of criminal record of the country of origin
– All tax and social security contributions filed to date