How to get a "golden visa" in Portugal through real estate investment?

Portugal's unique immigration program

Portugal presents its unique immigration program known as the "Golden Visa," which opens doors for foreign citizens to obtain residency in the country. This initiative was launched in October 2012 and has established itself as one of the most attractive immigration programs in the world over its existence.

The essence of the program

The key essence of this initiative is that by investing a minimum amount of280,000 eurosIn real estate, investors gain the opportunity to move freely across Schengen countries and significantly speed up the naturalization process in the European Union in just five years.

Popularity of the program

Since its launch, more than 11,000 people have taken advantage of this program. Investors come from various countries such as:

• China
• Brazil
• Turkey
• Republic of South Africa
• Russia

It is important to note that in 2024, the program will continue to accept applications from citizens of the Russian Federation.

Advantages of the "golden visa"

The "Golden Visa" offers numerous benefits for its participants. One of the main advantages is the ability to include family members of the investor in the application.

• Spouses
• Minor children
• Parents who are 55 years old and dependent on the applicant
• Children under age 26 if they are in school and dependent on parental financial support

Convenience and accessibility

One of the advantages of the "golden visa" is that obtaining it does not require passing exams in Portuguese language or the country's history, which makes the program convenient for most foreigners.

The procedure for obtaining a residence permit

Initially, the residence permit is granted for one year, with the possibility of extending it for two years twice, provided that the investor retains ownership of the acquired real estate. This gives the possibility to extend the visa in the future.

Conditions of stay in Portugal

It is also worth noting that the residency requirements in Portugal are not complicated. To extend your residence permit, you need to be in the country for at least:

• 7 daysin the first year
• 14 daysevery two years

Unlike the standard residence permit, which requires a minimum of 183 days per year, the Golden Visa offers more flexible conditions. However, those seeking permanent residence or citizenship will have to stay in Portugal permanently.

Obtaining permanent residency and citizenship

Investors who have successfully completed the process can apply for permanent residency after five years, and then for citizenship. This is one of the fastest ways to obtain citizenship within the European Union. For example, in countries like Spain or Italy, the waiting period for citizenship is 10 years, while in Greece it is 7 years.

Prospects for families

By obtaining Portuguese citizenship, investors not only become holders of a residence card but also open up excellent prospects and opportunities for their loved ones in the future.

Obtaining dual citizenship in Portugal

Portugal offers very favorable opportunities for obtaining second citizenship. For Russian citizens, there is no need to renounce their own passport, which significantly simplifies and makes the process more convenient.

Affordable real estate prices

The prices for housing in this country are lower than in neighboring states, which allows for the purchase of quality real estate with a larger area for the same amount as in other popular European markets. On average, the cost of one square meter in Portugal is about1600 euros...while in Spain this figure reaches...1900 euros.

Investment opportunities

Investors have the opportunity not only to purchase one or several properties in the primary and secondary markets, but they can also rent them out, generating income starting from3 to 5%in euros annually.

It is important to note that in order to obtain the status of permanent resident it is necessary to have ownership of real estate for at least five years. After that, it is possible to sell the object with the return of the initial investment. If the investor decides to sell the property before this period, he or she may lose the residence permit.

Tax advantages

For those looking to become tax residents of Portugal, there is a special tax regime for so-called "non-habitual residents."

• This regime allows you to benefit from a reduced income tax rate for ten years, which is as follows20%.
• Income earned outside the country is exempt from tax.
• Portugal has no inheritance, gift or estate taxes, which is a significant advantage.
• Individuals with special tax statuses can freely transfer funds both within the country and abroad.

Low tax rates

Compared to other Western European countries, there are low tax rates here. Tax residents from Russia may be exempt from tax liability on income derived from professional activities and work in Portugal. Portuguese residents are subject to progressive tax rates, starting from14.5%, and they depend on the level of income.

Investment options

As far as investment options are concerned, there are several interesting opportunities available:

• Investors may consider purchasing real estate that costs from280 thousand eurosIf it was built more than 30 years ago or is located in an urban redevelopment area. This may include hotel shares, as well as residential and commercial properties in low-density areas.
• Another option is to purchase real estate worth350 thousand euroswhich must also meet the specified criteria: age over 30 or location in a rehabilitation zone. This option includes shares in hotels and commercial real estate in any part of the country, as well as residential properties in Madeira and the Azores.
• The third option assumes an investment of at least500 thousand eurosthat provides access to a wide range of real estate categories, including both commercial and residential properties throughout Portugal, as well as in Madeira and the Azores.

This strategy makes the real estate market in Portugal particularly attractive and promising for those looking for investment opportunities in successful projects.

Investment opportunities in Portugal

There are many investment opportunities in Portugal, offered through different types of visa programs. One of the most interesting options is to invest in shares in Portuguese companies or to open a bank deposit with an initial amount of 1 million euros or more.

Investors may also consider investing in investment or venture funds, where the minimum amount is 500,000 euros. It should be noted thatat least 60% of the fund's investmentsmust be attributable to entities registered in Portugal.

Creating a business and supporting projects

Another way is to start your own business, during which you need to openat least 10 jobsFor local residents. Investment in scientific projects can start from 500,000 euros, while cultural and artistic initiatives can start from 250,000 euros, which will also provide access to a visa.

Golden visa through real estate

The most popular method of obtaining a residence permit in Portugal is to invest in real estate. According to statistics, more than ninety-three percent of investors chose this route to obtain a residence permit“golden visas”The demand in the country's real estate market remains high, and according to information from PwC, Portugal has been recognized as one of the most attractive regions in Southern Europe for investments.

Real estate investment options

Various options are currently available for obtaining a "golden visa", which depend on the amount of investment in real estate. Minimum investments range from 280 to 500 thousand euros and depend on the location and type of property.

In Portugal, there are 1,648 listings, with prices starting from 1.3 million euros. Let's take a look at a few options:

• Three-level townhouses in Lisbon by the Tagus River. Completion is scheduled for 2024.
• New apartments in San Pedro do Sul with a guaranteed return of 4%, starting price — 280,000 euros.
• Modern apartments in Belen with terraces and a pool, priced from 1.2 million euros.
• Apartments in Cascais from 500 thousand euros, fully equipped.
• Apartments in Oeiras with views of the river and the sea starting from 481 thousand euros.
• An elite complex in Lisbon with apartments starting from 550,000 euros, with a total area of 179 square meters.

Changes in visa application rules

Since January 1, 2022, the Portuguese government has updated the rules, and now residency permits for investment are not granted for investments in major cities such as Lisbon and Porto, as well as in other coastal regions.

Now foreigners can only gain residency by investing in housing in theless developed interior regionsIn Portugal, as well as in the Azores or Madeira.

Currently, serviced apartments are available to buyers in Lisbon and Porto, which opens up additional opportunities for real estate investment.

Introduction to Real Estate Investing

In the field of commercial real estate, there are no new restrictions, which is an important fact for investors. If you would like more detailed information about current projects, you can submit a request for a presentation.

Payment terms for housing

Please note that the cost of the property in the program can be paid without taking out a mortgage. However, there is an option to secure a loan that exceeds the minimum requirements set by the program's conditions. For example, if you plan to purchase a property for 700,000 euros with minimum requirements of 500,000 euros, you can take out a mortgage for the amount of 200,000 euros.

Additional expenses

It should also be noted that additional costs when purchasing real estate in Portugal amount to approximately 10-12% of the total price, and the operating expenses for maintaining property in the country reach around 2000 euros per year.

Investments in properties that require renovation

Investments in properties requiring renovation are also of interest to investors.

How to apply for a "golden visa" in Portugal

How is the process of obtaining a "golden visa" in Portugal carried out? Let's take a closer look at all the stages of this procedure to simplify the understanding of the process.

Real estate selection

At the first stage, it is necessary to decide on the choice of real estate that interests you in the Portuguese market. This process usually takes about three days.It's important to considerpersonal preferences and requirements for an apartment or house to make a successful investment.

Opening a bank account

The next step is to open a bank account at one of the local financial institutions. This is important for transferring the necessary funds, as well as for obtaining a tax number, which is mandatory for foreigners. This stage usually takes just one day, but in some cases, it may take a bit longer, depending on the bank.

Preparation of documents and completion of the transaction

After opening an account, you will need to prepare all the necessary documents and complete the transaction for purchasing real estate that meets the program's criteria. This process may take about a week, as it is important to ensure that all the paperwork is in order and complies with local laws.

Application submission through SEF

Next, you will need to submit an application through the web portal of the Immigration and Borders Service (SEF) in Portugal. At this stage, you will also need to schedule an appointment. For this, you will need another day.

Booking a date for submitting biometric data

Don't forget about the important procedure of scheduling a date for submitting biometric data, which may require a waiting period of two to four months. The actual submission of the data will only take one day.

Obtaining a residence permit

After that, you will be able to apply for a residence permit (RP). This can be done in person or through your representative, which will again take just one day.

Organization of arrival in Portugal

The next important step is organizing your arrival in Portugal to provide biometric data. This can take anywhere from one day to several, depending on your circumstances.

Obtaining a residence permit card

So, after completing all the previous steps, you will receive a residence permit card. The preparation and waiting for this stage can take about four weeks. If you have decided to apply for the card through a representative, you will need a notarized power of attorney.

Necessary documents for obtaining a residence permit

To obtain a residence permit through the property purchase program, you need to gather certain documents. These include:

• Certificate of Ownership
• Sales Agreement
• Restoration project (if the property value is 280 thousand euros)
• Passport or a copy of the passport of all applicants
• Documents confirming legal entry into the country and stay in it
• Medical insurance
• Certificate of no criminal record
• Certificates from the tax service and social security authorities regarding the existence of debt.
• Documents confirming marital status (marriage certificates and birth certificates of children)
• Certificates from the place of study or work for adult children

All submitted documents must be translated into Portuguese, notarized, and apostilled.

Getting a consultation

If you have any questions after reading this information, we recommend getting a free consultation with a lawyer. This will help you discuss your situation and find out which specific documents you will need for a successful residence permit application.

Financial aspects of obtaining a residence permit

Now about the financial expenses: obtaining a residence permit in Portugal for each family member will cost 5,325 euros. When renewing the residence permit, the amount will be 2,663 euros. It is also important to consider that there is a fee of 533 euros for processing applications when obtaining and renewing the residence permit. The tax number and the services of a tax representative will cost an additional 200 euros. Furthermore, don't forget about health insurance, which costs about 200 euros per person.

Thus, the process of obtaining a "golden visa" involves multiple stages that require both time and financial resources.

Conclusion

In conclusion, the "golden visa" program in Portugal represents an outstanding opportunity for foreign investors who wish not only to invest profitably in real estate but also to enjoy all the benefits associated with residing in this sunny country. I have detailed the advantages of the program, such as the ability to apply for the whole family, the absence of language exams, and the reasonable residency requirements. It is important to note that compared to other countries, Portugal offers lower real estate prices and taxes, making it an attractive option for investment.

Advantages of the program

• Residence permit for the whole family:You can include spouses, children, and even parents.
• Lack of language exams:No exams are required to demonstrate knowledge of the Portuguese language.
• Available residency requirements:Minimum stay requirements in the country.

Among the investment options offered by the program, there are both more accessible and more expensive choices, allowing each investor to select the right path based on their life circumstances and budget.

Investment options

• Real estate priced from 280 thousand euros.
• Real estate priced from 350 thousand euros.
• Real estate priced from 500 thousand euros.

The objects that provide the opportunity to obtain a visa range from residential properties to commercial real estate, which expands the range of options available according to personal preferences and goals.

Social and financial prospects

The program, which has been in operation since 2012, has already established itself as one of the best of its kind, attracting investors from around the world. During this time, more than 11,000 people have taken advantage of this opportunity, and the number of those interested continues to grow. Considering the positive changes in the real estate market and the bureaucratic simplifications being implemented by the government, the prospect of obtaining EU citizenship within five years becomes even more enticing.

I strongly recommend considering participation in the "Golden Visa" program if you are looking for not only financial benefits but also wish to open new horizons for yourself and your family. Portugal, with its rich history and culture, mild climate, and high quality of life, can become your second home and a place to realize long-held plans. Don't miss the chance to enter the world of opportunities that this country offers.