Besides investors being able to purchase Portuguese property for 350k and 500k, Portugal Golden Visa program by investment enables third-country citizens to obtain a temporary residence permit for a reduced amount of 280.000 Euro. The reduced amount here doesn’t mean reduced rights. Even with the €280k Golden Visa investment, you qualify for Portuguese citizenship at the same terms as all other Golden Visa Portugal investors, just with reduced investment amount and in neighboring areas to central cities.
In this sense, the investment amounts of €500k or €350k may be reduced by 20% (to €400k and €280k, respectively), in case the property purchase is made in a lower density area. The area the property is purchased in must comply with the NUT 111 level, being low in demographic density (number of inhabitants) as well as low in economic density (low GDP per capita).
The reduction of capital required for this investment aims to encourage investors to purchase into lesser-known areas - but arguably more beautiful, serene and filled with gems, such as the North of Lisbon, Silver Coast, Setubal riviera, near the Algarve, and the Alentejo.
Although it is inarguably still a great option to invest in more key and popular areas like Lisbon, Porto and the Algarve (check 500k Golden Visa here), as these assure a potentially greater return on investment for a longer period, it might be beneficial to actually think about the interior of Portugal. Cities like Viseu, Évora, and Beja, amongst others, are valuable touristic treasures, as they are far from emptying out their offer range.
We believe that some of the most lucrative routes to create new businesses might actually be within interior areas as Silver Coast, Alentejo, Setubal riviera, and Algarve, as there’s a greater opportunity to work in fields such as hotel businesses, outdoor tourism (like cycling, hiking, mountain biking, rafting) or cultural and religious tourism. So that you can have a full spectrum regarding investments in the interior of Portugal, we have gathered 6 points to think upon when investing inland:
Able to invest in more than one property with the cumulative value of 280k in the interior, rather than if you were investing in Lisbon, Porto, and the Algarve,
Away from the city bustle, and closer to nature,
Although these aren’t tourism centered areas, there are punctual National and International events throughout the year that attract large numbers of groups from around Portugal and abroad - you can rent a room in your property during this period (for example Evora, Coimbra, Obidos, Nazare, and many others);
There are no airports in the interior but there are airfields that allow you to travel within cities, and there are great train and bus links to any city or region of Portugal;
Many students are choosing interior universities, as there’s been an increase of students in the universities within the central cities (Coimbra, Evora, Aveiro) and thus fewer vacancies, so this is a good long term opportunity to carry facilities for them;
Many retirees and expats choose to live in these lesser-known areas of Portugal as the cost of living is much cheaper compared to the 3 main cities of Lisbon, Porto, and Algarve. Therefore, buying properties in these areas could provide housing opportunities for people like this.
Related topics:
Assuming that Portugal needs the “contribution of immigration” to its economic and demographic development, the program of the XXII Constitutional Government approved today, 30th October 2019, addresses several measures to attract foreigners to the country, one of them being revising the residence permit for the investment scheme - the Golden Visa, - which will be directed preferentially to “low-density regions and activities leading to job creation and regeneration of urban areas and cultural heritage”.
Over 20,000 people have obtained residence in Portugal as a result of the program, of which just over 13,000 are dependents. Learn more about the number of visas issued in Portugal since 2012 and who the main applicants are here.
If you’re interested in investing in the 280k Golden Visa option, send us an inquiry or use our calculation of costs to know how much return on your investment you will get.
Portugal Homes has very experienced and knowledgeable professionals working with some of the most established and reputable developers Portugal has to offer. Our vast experience allows us to guide you through the best investment choices.
Whether you want a holiday home or an investment property, we select the best units for your profile and take care of all the process from start to finish. Even after the sale! Our After Sales services assume the responsibility of furnishing your property at your taste, taking care of the property in your absence, managing the rentals if you wish to rent your property when you’re not in Portugal and so much more!
To learn more about the Portuguese Non-Habitual Resident Program and our After Sales services, please fill the form below.
