Foreign buyers interested in Portugal Real Estate must make a move

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Foreign buyers interested in Portugal Real Estate must make a move
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Published: 20th March 2020, 8:48pm

Information update January 2021: Read updated information on the Portuguese Golden Visa here.

Foreign buyers interested in Portugal’s real estate must act now!

Currently, Portugal has a Golden Visa program which allows foreign property investors to gain residency in the country. However, this is about to change.

Change in legislation

On 5 February 2020, the Portuguese parliament approved a measure limiting the issuance of ‘Golden Visas’ for real estate investments made across the coastline, including major cities. This doesn’t mean that there are changes being implemented right away, but that discussions over possible changes have started. On the table of discussions, there are many issues, like buying properties in major cities such as Lisbon and Porto may no longer qualify buyers for the Golden Visa and drive investors to purchase outside of these locations such as the country’s interior regions and the Azores and Madeira islands. The time frame for enforcement of the new legislation has yet to be announced but it is unlikely to be implemented before the end of 2020.

For foreign buyers who wish to invest in Lisbon or Porto in order to qualify for the Golden Visa before the law changes, they will need to act fast to beat the deadline. Purchases of property and their visa status prior to the deadline are not affected.

Portugal Homes’ Co-Founder and CEO, David Poston, wrote a message about these changes to the program here. Furthermore, you can also view our video on the Portuguese Golden Visa changes.

What is Portugal’s Golden Visa Scheme?

Portugal’s Golden Visa schemes offer residency in exchange for substantial investment in one or several sectors designated by the government. Applicants have various investment options, including putting €250,000 euros (USD273,000) into arts and culture, €350,000 into scientific research, or simply creating 10 jobs in Portugal through investing in a local company. Amongst these options, the easiest route to Portuguese residency seems to be an investment in real estate worth at least €500,000, or, if it is over 30 years old, €350,000 to encourage urban regeneration.

Portugal Homes’ website has plenty of information on the Portuguese Golden Visa. There are three references for the Golden Visa investment in Portugal, as we explained before. And some investors are beginning to realise the investment alternatives for the 350k Golden Visa option.

Until the changes to the program take effect, the lowest investment you can make to get the Portuguese citizenship is 280k. However, this investment has some counter-measures to take in consideration.

Advantages of Portugal residency

Portugal is regarded as a highly developed European country. It boasts state-of-the-art medical facilities and plenty of world-class universities that offer some of the best education in the world. It is a part of the European Union thus getting residency in Portugal means being eligible to live and work in many more countries that share the Schengen area. Moreover, a Portuguese passport allows access to 164 countries without a visa. Portugal also does not tax foreign income, which is good news for foreign investors. Dependent children and parents will also qualify for the same benefits. 

Is Portugal’s Golden Visa a good option in 2020?

Portugal has almost completely recovered from its crisis back in 2008. Portuguese real estate market is still a booming one and real estate professionals argue that it will remain so in 2020. 

Portuguese economy shows signs of continuous and stable growth giving confidence to investors. Investors realize that there are still several types of real estate investments available in sectors such as Hotels, Residential and Retail. Adding to this, Lisbon has an advantage and much lower occupation costs when compared with other European cities.

Read more about the present Portuguese economy status in our article “Portugal’s bright outlook offers Europe some hope”.

Lisbon offers some of the best returns on investment in Europe right now, due to the touristic boom witnessed in the later years. It is wise to know the best places to invest in Lisbon

Besides also being at the top of the list of countries with a high level of English, Portugal holds the 5th most powerful passport in the world. In recent years the Portuguese passport has served as a gateway to almost 185 countries and it is as powerful as a passport stamped with Austria or the Netherlands.

As such, buying a property in Portugal now can yield a lot of benefits to its investor. It would be wise to make use of the Golden Visa program while it still exists, say industry watchers.

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Comprar uma propriedade em Portugall

A Portugal Homes possui profissionais muito experientes e conhecedores, que trabalham com alguns dos promotores mais reconhecidos em Portugal . A nossa vasta experiência permite-nos guiá-lo pelas melhores opções de investimento.

Seja casa de férias ou uma propriedade para investimento, selecionamos as melhores propriedades para o seu perfil e tratamos de todo o processo do início ao fim. Mesmo após a venda! Os nossos serviços de pós-venda assumem a responsabilidade de mobilar a seu gosto, manter a propriedade na sua ausência, dar apoio ao arrendamento, no caso de querer arrendar e muito mais!

Para saber mais sobre Residentes Não Habituais em Portugal e sobre os nossos serviços pós-venda, preencha o formulário abaixo.

É fantástico como o Ryan tinha um conhecimento completo sobre Lisboa e nos tratou da melhor maneira.

Akbar Ali - Investidor do Paquistão

Ryan é muito profissional, mas também amigável e conhecedor do mercado Golden Visa. Também se mostrou flexível, pois, com um curto aviso prévio, viajou do Algarve para me se reunir comigo em Lisboa e substituir 1 colega.

Investir do Reino Unido

A Portugal Homes fez um excelente trabalho mantendo-me atualizado sobre o progresso da compra da minha nova casa, fornecendo relatórios regulares e abrangentes. Isto ajudou-me a aliviar a ansiedade sobre a compra de uma casa durante a pandemia.

Investidor dos EUA

Embora através do Zoom, estabelecemos uma grande confiança na integridade do George. [Foi] importante para nós ter confiança na capacidade do staff em se sentir alinhados em visões.

Donald Collie de Austrália

O processo foi bastante rápido e claro. Obtive toda a informação que precisava na primeira hora de conversa. A experiência foi perfeita.

Tomoko Inoue do Japão

Overwhelming. Luisa has exceeded our expectations on all levels. Trust was established immediately. Enhanced by super friendly professionalism. The networks to banks, accountants, lawyers was seamless. there is not enough space here to write all the positives, enough to say we are making an offer and we only arrived 4 days ago. Its impossible to improve from perfection!

John Mulroe and Wiebke Bock