Increased Attention from Real Estate Investors to Portugal Golden Visa ⋆ The Costa Rica News
The real estate market in Portugal is very promising for foreign investors:
- According to CBRE’s real estate market outlook for 2020 in Portugal, “investments in high-income real estate will remain robust at around 3 billion euros. The lack of a core product will lead to forward buying transactions. “
- CBRE’s 2019 report: “The investment in non-residential real estate hit a new record of EUR 5.75 billion. Significant investments have been made in all sectors, with the hotel sector and student dormitories growing strongly. “
- The Portuguese Immigration and Border Service (SEF) supports the investment interest through its data. From 9,340 investors; 8,782 of them became resident in Portugal through the purchase of real estate.
If you are already planning to buy property, Portugal Golden Visa will be of great use to you and it offers additional benefits.
What are these advantages then?
Path to Union Citizenship
Portugal Golden Visa is a residency-by-investment program. However, you have the option of becoming a citizen after you have met the residence requirement. However, do not be discouraged. The minimum length of stay per year is only seven days on average. After five years, you can also apply for citizenship and permanent residence.
In this way you can live, work and study in any EU country like a normal EU citizen. This means that you can expand your business too.
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Return on investment is possible
Unlike some other citizenship programs such as Malta, Portugal allows for a ROI. Plus, you don’t have to hold your investment at any point. You can liquidate your investment after obtaining citizenship or permanent residence.
Various investment options
It offers multiple investment thresholds even when buying a property in Portugal. The minimum investment amount for real estate investments starts at € 280,000. This option is available as long as the property is over 30 years old and in urban redevelopment and sparse areas. Other options are minimum amounts of
- € 350,000 for the property that is more than 30 years old and is located in the urban redevelopment area
- € 400,000 for the property in a low density area
- € 500,000 for real estate investment in capital cities.
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Stability in many ways
Stable political and social environment, modern education system, low crime rates, high standard of living, strengthening the Portuguese economy … These are just some of the factors that make Portugal a great place to live and a safe investment destination.
Portugal is also the third safest country in the world according to the Global Peace Index 2020.
In addition, with Internations’ 2020 Expat City Ranking, Lisbon is the third best city in the world where foreigners can live. Lisbon is also in the top 10 in these three categories:
- 3. in the accommodation
- 4. in the quality of urban life, and
- 6. In the cost of local life.
Promising residential real estate market after Covid-19
A real estate report published in autumn 2020 entitled “Marketbeat Portugal”. He looks at the impact of pandemic management on the property market in Portugal.
“The way Portugal initially faced the coronavirus outbreak made the country more attractive. Portugal topped this year’s International Living Global Living Retirement Index and Forbes magazine, viewing the Algarve as the best place in the world to live and retire after COVID-19 interest from international buyers, with deals despite the substantial interest Travel restrictions. “
“Finally, a moratorium on credit agreements and mortgages, which was introduced in April and then extended (to March 2021 and September 2020, respectively) has also contributed to the stability of the sector.”
Why Golden Visa is a great deal for overseas investors
Applying for a Golden Visa to Portugal is more than an investment. In return for your investment,
- You and your dependent family members will be given domicile in Portugal
- You can be exempt from taxing almost all of your overseas income through the NHR (Non-Habitual Resident) program
- This leads to eventual European citizenship, permanent residence and a second passport
- Even if you liquidate your investment after five years, your citizenship or permanent residence status will not be affected at all.