La Vida Portugal featured in an article in the South China Morning Post yesterday (China’s largest English daily newspaper). The article discussed the number of golden residency visas issued by Portugal in the last year – 542 and how it is expected to grow from this level. According to Colliers in a research note the number of properties sold in Portugal has increased 70% fuelled by the attraction of the golden visa programme. You can read the full article here.
In addition to resort property on the Algarve and silver coast we also have a large selection of property in the city of Lisbon and just outside the city in Cascais. The Portugal investor visa programme has been fuelling interest in property over €500,000 in Lisbon. Prices are rising and choice is reducing. €15 million was invested in Portugal in one week last month under the golden visa programme. There is a lot of interest from China, India, Russia and the Middle East. Lisbon is a popular choice with an international airport just 10 minutes from the centre of the city offering excellent links to the rest of Europe and worldwide. Please contact us for further details and a brochure.
Many of our clients look to buy property for the golden visa in either Spain or Portugal with the sole intention of renting the property out. Foremost in most investors minds is the kind of return they can make and the ease to which the property can be rented on their behalf. Spain is difficult in terms of guaranteed rentals, you need to appoint a managing agent to find clients and manage the rental without any assurance of rate or occupation.
However we have found in Portugal a guaranteed rental product that is available on Portugal’s most prestigous golf resort. Located right on the beach investments on this resort range from €600,000 – €1,300,000. All offer a rental return of 4% per annum for 5 years. Importantly the prestige of this long established resort will underpin the rental for many years after that. The property and rental is managed entirely by the resort. Owners can use the property for 8 weeks a year. Ideal for two weeks vacation in order to maintain the golden visa.
After the first year the investor visa in Portugal can be renewed every two years provided the property investment is retained. After 6 years the owner can apply for citizenship.
Anyone interested in obtaining further details on this please use the contact form below:
A lot of our clients ask about guaranteed rental on investments when they are seeking the golden visa either in Portugal or Spain. Most importantly anyone looking to gain residency needs to consider the rules of each country’s scheme for minimum stay in order to retain the visa. If the property is rented full time this creates the issue of somewhere to stay when spending the minimum period of two weeks a year in Portugal. Rather than invest in a property to rent full time on a long lease, investors can look at resort properties in Portugal. These are property investments the same as any other to qualify for the investor visa in Portugal. But on a resort you have a steady supply of holidaymakers looking to rent for one week or two weeks. Sometimes a few months. By picking the right resort with facilities for example golf and beach attractive to holidaymakers this is perfectly possible. But then it’s also important to select a resort that can manage the rental and allow you to use your property for periods you plan in advance. We have several such options in Portugal. Please contact us for details.
Portugal’s Golden Visa has been operating for over a year now and we are delighted to be involved in this programme offering property in several locations throughout Portugal that will qualify for the residency visa.
The scheme is similar to that in Spain although further advanced being 12 months ahead of the Spanish visa offering. Over 400 visa applications have been processed in Portugal since the start of the golden visa programme.
Investors need to spend a minimum €500,000 to qualify for the Portuguese residency visa. It can be renewed after 1 year, 3 years then 5 years. Owners of a property in Portugal can apply for citizenship after 6 years provided they have retained the investment of €500,000 in property.
La Vida Portugal is delighted to help with visa and property enquiries for investors looking to buy into the Portugal Golden Visa scheme with a minimum €500,000 investment in property. Please see the about us page for our contact details.