In Portugal it is now possible to obtain the golden visa through a reduced investment of just €350,000. To qualify, investors will need to purchase real estate which is over 30 years old and requires renovation work.
Created in 2015, this program aims to rejuvenate areas of Portugal’s capital city yet maintaining the original appearance and architectural style of Lisbon’s historic buildings.
Whilst the choice of such projects is more limited than those at €500,000, La Vida are able to offer a number of excellent options which tick all the right boxes to qualify. Projects need to be approved as a 65-A (d) category building and it is crucial to ensure the right project and legal advice is obtained before embarking on such investment.
It is not quite as simple as just purchasing an old property and undertaking some light DIY as some may think. Renovation contracts and building licenses need to be in place before any Golden Visa application can be submitted. This would be a logistical nightmare for international investors to try and organise themselves from overseas. La Vida have partnered with an expert developer who will take care of and oversee the whole renovation contract on behalf of the buyer.
La Vida has experience of many applications for the €350,000 reduced initiative from several successful project’s.