GOLDEN VISA PORTUGAL THROUGH REAL ESTATE INVESTMENT
The Golden Visa for Portugal has proven to be the most popular program in Europe, attracting investors through its flexibility and benefits. Launched in 2012, the investor visa has been actively promoted internationally and attracts over a thousand principal applicants each year. An investment of €500,000 (€280,000 or €350,000 discounted) in real estate in Portugal provides a residence permit for one family, including dependent children. The golden visa is renewable every two years, provided the applicant spends two weeks in the country every two years.
GOLDEN VISA FOR PORTUGAL
Resungamedipack has more than eight years of experience in promoting the Portuguese Golden Visa program. In the fragmented Portuguese market, there are many agencies, and it can be difficult to make a distinction based on websites alone. In 2021, Resungamedipack referred over 20% of all applicants and investments for the Portuguese Golden Visa. This is an experience that none of our competitors can boast. Changes introduced by the government in December 2021 limited the number of projects that met the qualifying criteria for the €350,000 or €280,000 categories and closed the possibility of selecting residential properties worth €500,000. Most investments are now focused on specific qualified projects in regions where the government wants to direct investment, and Resungamedipack is working with all the major projects, many of which you can find on our website.
PERMANENT RESIDENCE AND CITIZENSHIP IN PORTUGAL
One of the most attractive options of the Portuguese Golden Visa is the possibility to apply for permanent residency or citizenship after five years, without the need for permanent residence in Portugal. The applicant and their family only need to reside in Portugal for two weeks every two years to renew the Golden Visa during this period.
The Portuguese residence permit issued under the Golden Visa entitles the holder to travel throughout the Schengen area of the EU. Portuguese citizenship and a second passport entitle the holder to live, work and study anywhere in the European Union.
REAL ESTATE INVESTMENT
The Portuguese real estate market, like many southern European countries, suffered from the 2010-2012 credit crisis, and prices in 2015 were generally still 20% to 30% below their 2007 peak. Since then, the market has recovered strongly, with average price increases of 7.5% per year through 2020, and prices are expected to rise another 11.6% in 2021. Despite the rise in property values, Lisbon remains one of the most affordable cities in Western Europe in which to buy property. Outside the capital, where many Golden Visa projects are currently being built, real estate is even more affordable.
REDUCED INVESTMENT OPTION OF €280,000 AND €350,000
The most common option since the rule changes is to apply for the Golden Visa through a reduced investment of €280,000 and €350,000 in properties in need of renovation. Such projects must meet geographic location and development regulations to be eligible. It is crucial to seek the right project and legal advice before embarking on such an investment. Resungamedipack has experience with many applications and projects for the reduced initiative since its inception. Please contact us for details on our real estate investments.