It is worthwhile to pursue Portuguese residence in this unique European country due to the good quality of life, beautiful environment, and tax incentive programs offered by Portugal. To encourage foreign investment in Portugal, the government offers a residency by investment scheme known as the Portugal Golden Visa program to foreign nationals who make certain qualifying investments in the country.
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Benefits of Portugal golden visa by real estate investment
Picture a better quality of life, beautiful weather, welcoming locals, and easy access to the flawless shore. For many of the same reasons, non-EU citizens are flocking to Portugal in search of real estate.
If that isn’t persuasive enough, here are some further reasons to consider investing in real estate:
- Gain EU citizenship and enjoy visa-free travel across the European Union.
- After living in Portugal for five years, you are eligible for citizenship (basically EU citizenship).
- Put your money into a thriving housing market.
- High rates of return on investments are possible.
- Investment opportunities across a wide range of property types
Requirements for Portugal golden visa by property investment
As it is with any other government program, particular financial requirements shall be met if you want to become eligible for a Portugal Golden visa by real estate investment. An Immigrant Invest specialist Victor Esik points out the main rules:
- Purchase residential real estate in Portugal’s specified interior regions with a value of at least €500,000; if investing in a restoration project, the purchase price will be reduced to €350,000. If the residential property in question is situated in a region that has been defined as having a “low density,” a reduction of 20 percent will be applied to the purchase price (bringing the total down to €400K or €280K, as appropriate).
- Purchase a commercial property in Portugal with a value of at least €500,000, or €350,000 if you want to engage in a renovation project. A discount of twenty percent will be applied to the purchase price of the Portugal golden visa commercial property if it is situated in an area that is classified as having a “low density.”
Changes in getting a Portugal golden visa via real estate investment
Since January 2022, however, foreign nationals seeking a Golden Visa may no longer buy a residential property in some specific regions of the country: https://immigrantinvest.com/blog/portugal-golden-visa-real-estate-changes-en/.
Porto, Lisbon, and most of the shoreline, including the Algarve and the Silver Coast, are no longer viable investment options under the new laws, which only recognize residential property in continental Portugal’s interior regions and in the Azores and Madeira. While residential properties in these areas are not eligible, commercial ones are.
Other ways of obtaining a golden visa
A Portugal Golden Visa may be obtained in exchange for one of five different forms of investments: the purchase of real estate (mentioned above), participation in an investment fund, the transfer of cash, the creation of new jobs, or a charitable contribution. As you may guess, all these methods are characterized by different Portugal golden visa costs.
There are particular requirements that should be met to get a Golden Visa in Portugal. First, you have to find specific Portugal golden visa property for sale. Be sure to verify its status and whether it is appropriate for residential or commercial purposes as it directly affects the cost. And then, just make your investment, i.e. buy property in Portugal, and a golden visa will follow afterwards. After obtaining it, you can easily start living your EU dream right away!