The golden visa programme in Portugal has now attracted over €1 billion in investment from real estate buyers seeking the flexible investor visa that is on offer. A total of 1,649 investor visas have been issued so far in Portugal with numbers climbing quickly. To date in 2014 investor visa permits issued to foreign nationals are already double those issued in 2013. Most buyers are buying at otr around the €500,000 investment limit and choosing to rent the property. The visa programme does not require holders to spend time in the country. In fact just two weeks every two years to secure renewal. In return investors are free to come and go as they please into Europe without having to continually renew their Schengen visa for EU entry.
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.
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.