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Portugal’s Golden Visa is Strong and Still Getting Stronger

Fueled by frenzied foreign demand and an alluring residency-by-investment programme, the Portugal property market has flourished in recent years. With analysts predicting that housing prices in the country will continue to rise, many investors are scrambling for a cut of this burgeoning market.

Growing International Demand for Residential Property

“In Lisbon, construction and reconstruction projects have proliferated. The whole city centre has practically been renovated,” said Nadezhda Yakimenko, Managing Partner of the Cascais Real Estate Agency. “Buyers are scooping up Lisbon apartments in new developments before construction is finished. Among the most popular properties are investment projects, which generate guaranteed tourist rental income, with typical yields of 4% per annum,” Yakimenko said. She added that foreigners currently account for some 90% of all property buyers in Lisbon, particularly British, American, Swedish and French citizens.

The Effects of Golden Visa Programme

Since 2012, non-European investors have also been entering the Portugal property market in increasingly large numbers due to the introduction of the Portugal Golden Visa, which enables residency by investment. Typically, residence permits are available to foreign investors who purchase properties starting at EUR 500,000. In scarcely populated regions, that threshold can be as low as EUR 350,000.

Portugal Golden Visa is also available to foreigners who invest a minimum of EUR 1 million in Portuguese securities or of EUR 250,000 into preserving the country’s national heritage. However, property investors have accounted for some 90% of residency permit recipients since the introduction of the programme. Of those who have obtained golden residency permits, some 80% are Chinese nationals, while Brazilians have accounted for 5% and Russians for 3%.

What to Invest In?

“The most highly sought after properties include newly-built or renovated mid-range flats starting at EUR 500,000, luxury flats ranging between EUR 3 million and EUR 5 million and newly-built or renovated villas in Portugal, which sell for between EUR 1 million and EUR 2.5 million,” said Yakimenko of Cascais Real Estate. She noted, however that very expensive villas don’t tend to sell as well.

Since the Portuguese economy relies on Tourism, it also includes Portugal property market and thus, one- and two-bedroom sea-view flats with price tags ranging between EUR 400,000 and EUR 2 million tend to sell within a week of entering the market. Studio apartments in resort complexes with a relatively higher annual yield rate of %5 are a popular choice too. Investing in tourist properties is generally recommended.

Why is Buying Real Estate the Best Golden Visa Option?

In recent years, many Portugal Golden Visa seekers who are also pensioners from Europe have bought real estate from Portugal. One reason for this is the substantial tax reliefs granted to newly arrived citizens prompted by the government’s urge to draw foreign investment. The other reasons are enjoying the climate, life standards, and popular touristic destinations permanently, either by living or by profiting.

Tax Exemption

Basically, if you buy a property in Portugal, you must register with the municipality of your Portuguese residence within a 3 months period. You already need a tax number for this registration. This is your old tax number from your current country, and that’s crucial as it means when you register as a resident, you are still tax-deductible in your “old” country. Relying on that, you can apply for 10 years of special tax status in Portugal.

Mild Weather

Besides the advantage of getting a permanent visa in Portugal and Europe, Portugal Golden Visa offers also a lot of life quality. With an average daytime temperature of 14-21°C the weather is much milder than in UK or Germany, and many places in the country can offer 10°C even in winter. In addition, the living costs in Portugal are  about 25% lower than, for example, in UK or Germany, and still provides decent life quality. An extensive transportion network connects the main cities, and the main airports of Portugal – Porto, Lisbon and Faro – are well connected in Europe and are prime destinations.

Lisbon Is A Charming City

With its unpretentious charm, the capital is becoming increasingly popular among foreign investors. The city glamourizes with a great variety of different sights, cultural heritage and a healthy infrastructure. Furthermore, Lisbon offers ideal daytrips to close destinations such as Sintra, Cascais, Mafra, Obidos, Sesimbra. The beautiful beaches at the mouth of the River Tagus can be reached within 30 minutes from the city. The city’s real estate market is on high demand in recent years. In particular, the letting of tourists by private individuals has increased so much that even politics deal with the impact on the city. There is a great demand for touristic renting licences in Lisbon, but the government now strictly regulates licensing operations. Nonetheless, the performance is stable and prices are still below the European average. Even in the very trendy suburbs of Sintra, Cascais and Sesimbra, inexpensive real estate can be purchased.

Porto & Algarve Draw Much Attention

Porto has become one of the most popular tourist destinations in the world in recent years. The city has been awarded several times as the best tourism city in Europe. Many tourists visit Porto for a city break or use the location as a base to visit other northern cities or adjacent wine regions. Prices have been steadily rising but are still much more attractive compared to other European cities.

The best and most famous beaches in Portugal are in the Algarve. There are over 15 major beaches that can be reached quickly and easily by car. For tourists, the Algarve is very popular. Especially in summer, renting a property is very attractive.

The Basics to Get Portugal Golden Visa

Since 2012, Portugal’s Golden Visa is aiming to get investment from non-EU citizens. It’s a swift way to the Portuguese residency. About 4200 people have been benefited from the program until now.

Required Investment Options

One has to complete at least one of these:

  • A minimum transfer of 1M euros to Portugal
  • Purchasing a property that worths 500k euros at least
  • A reduced 350k euro investment into scientific research
  • An even more reduced amount of 250k euro investment into cultural or artistic activities
  • Creating a new area of business for minimum 10 people, or 500k euro investment into a small-scale business
  • Acquiring a traditional property at least 30-years-old in an area of urban regenaration

Required Documents

From the applicant’s country of origin;

  • A valid passport or a valid Schengen visa for each applicant
  • Criminal record certificate (police clearance letter) for applicants 16+ -needs to be certified by Portuguese officials and must not be older than 90 days –
  • Proof of residence, like a photocopy of the driving licence, a recent utility bill or a recent bank statement for the main applicant
  • Proof of professional occupation of the main applicant, guaranteed by the employer.
  • Documents about family ties if the application includes the whole family (marriage certificate for the spouse, birth certificates & no-income documents for dependent children, proof of enrollment for students, statements of marital status for children). They need to be approved by the Portuguese too.
  • Health insurance (has been given within the last three months)
  • Also, all documents have to be translated into Portuguese by certified translators

From Portugal;

  • Evidence of the completed investment (bank statements, employee contracts, property titles etc.) and a signed statement from the applicant that s/he will sustain the investment for a minimum 5 years
  • A Portuguese tax ID
  • A certificate that indicates the applicants have no debts
  • Applicant’s permission for the officials to check his/her criminal record in Portugal.
  • Receipt of the paid application fee

Procedurals

From January 2018, Portugal Golden Visa applications has to be filed online in the beginning, with the copies of all required documents (including the ones concerning investment) uploaded as well. The application fee can be paid online too. Then, a session for the collection of biometrics has to be booked online.

One has to renew the residence permit by Portugal Golden Visa at the end of the first and third years; and one may apply for full citizenship following the completion of the fifth year. The applicants required to spend at least 7 days in Portugal during the year of the initial investment, then it increases to 14 days for each subsequent remaining periods of 2 years.

Portuguese Economy Performs Well, While Europe is in a Recession

The effects of current economic recession can be observed worldwide, but still Portugal maintains its successful performance. According to experts, the future of the economy in Portugal is bright. Of course, the effects of any economic crisis can be felt on each country to certain scale.  Experts, however, consider Portugal to be less likely to be affected, and even predict that this situation will give ’hope’ to the struggling Europe.

What About European Countries?

Looking at the big picture, Portugal maintains its robust economy, while other countries find it difficult to maintain their position. In Germany, the export-dependent manufacturing sector has come to a standstill. Italy is increasingly affected by political and economic instability. Britain is heading towards Brexit, which may have a negative impact on its relationship with the EU.

How is Portuguese Economy Performing?

Although Portugal managed to narrow its budget deficit since the Euro crisis, Portugal’s debt burden is still the third highest in the Euro area after Greece and Italy. The Portuguese government aims to reduce the budget deficit by 0.2%. Compared to the economic turbulence that the rest of the Europe is experiencing, the economy remains relatively lively in Portugal. These facts give hope to the foreign investors.

According to the national financial press, the Portuguese economy is one of the few countries that has succeeded in resisting the slowing European economy, despite 80% of its exports to Europe. One of the first and most important indicators of the positive outlook for the Portuguese economy is the ongoing economic development to reduce debt. According to experts, the Portuguese economy is improving itself faster than ever expected.

The Golden Visa Program

Since its inception in 2012, Portugal Golden Visa continues to attract investors from all around the world. The Golden Visa scheme is simply a residency by investment program that requires a minimum of €500.000 real estate investment in Portugal. The residency permit enables applicants to travel within the Schengen Area without visa. After completing five years of legal residence, the applicants earn the right to apply for Portuguese citizenship.

Important Things to Consider When Making a Real Estate Investment in Portugal

Get a Residence Permit

Portugal grants residence permits to foreigners who invest in real estate. Portugal Golden Visa requires a minimum of €500.000 real estate investment. Through Golden Visa programs individuals can increase their life standards, and provide a better future for their children. These programs also allow the investors to increase their global mobility, Golden Visa holders have the right to travel within the Schengen Area without a visa. In this article, we aim to inform the investors who are considering to purchase a house in Portugal about the factors they need to pay attention to.

Explore the Market

Although there are common trends in the global real estate market, local real estate markets are experiencing ups and downs completely independent from each other. Therefore, it is advised for investors to get in touch with the local real estate agents.  An ideal real estate market for investor is in which the prices are low at the moment, but showing the signs for price increase in the future.

Get a Support from a Professional Real Estate Agent

Buying a home directly from the owner is often the most profitable option. However, making a real estate investment in a foreign country may cause frustration. Instead of skipping unfamiliar details based on the country’s own legal system and culture, it is best to consult a professional real estate agent.

Get a Legal Consultant

A legal consultant who is also able to control the purchase process is equally important as choosing a good professional real estate agent. It is important to note that, real estate agent and legal consultant selected independently, will prevent any possible fraud.

Translate Important Documents

Make sure that if the documents regarding the relevant purchase are in Portuguese that they are translated into a language that you understand before signing.  

Don’t Hope that You Will Make Profit in a Very Short Time

Real estate investment is definitely the safest and most powerful form of investment. But if you have dreams that you will be rich with real estate investment in a short time, leave those dreams in advance; real estate is a form of investment that makes great profits in the long run.

Source: http://klkn.membercenter.worldnow.com/story/40951450/portugal-is-still-the-best-bang-for-the-buck-in-europe-according-to-the-get-golden-visa

The Benefits of Investing in Golden Visa

Golden Visa is the general name given to programs that allow you to obtain residence permits by investment and even citizenship in some countries. These programs, which have been very popular recently, have attracted the attention of not only those who want to get a residence permit from another country but, also those who want to invest in the international real estate market. It would be an alluring opportunity to make use of your savings in another country and make a profit, as well as being able to obtain a residence permit and benefit from the opportunities it brings. Now let’s take a look at five good reasons why you might want to learn more about Golden Visa programs.

Benefit from Investment Income 

Although a new passport and / or residence permit are sufficient factors in itself, it is important to remember that Golden Visa investments are primarily investment with high returns. Buying a house in Caribbean to rent to tourists , or buying a property in one of the trendiest neighborhoods in Spain, will bring you short, medium, and long-term profits.

Travel Opportunity without Visa

Being able to travel freely is also a very important advantage for those who get another country’s passport through the Golden Visa programs. In particular, you will have the right to travel in the Schengen region without a visa as a result. Perhaps the most interesting feature for investors, especially those whose passports are not very powerful, is of visa-free travel through Golden Visa investment.

A Secure Investment for the Future

Almost all of the countries where you can obtain a residence permit by investment, with non-volatile exchange rates and with high sanction laws, are a safe harbor for your future business and investments. In many of these countries, taxes are low and investment incentives are high. If you are considering a long-term investment rather than a one-time investment, Golden Visa opens the doors to you.

Upgrade Your Life Standards 

If your family or children cannot receive the necessary health or education services in your country, Golden Visa programs may help you. Most of the countries included in the program are developed countries and have all kinds of opportunities. The residence permit you receive through investment includes family members in many countries. In this way, you can continue to live in peace without moving your family to another country.

Greece is among the most popular countries that offer an advantageous golden visa program. Greek real estate market attracts many foreign investors today. Check out the latest report on what will happen to Greece Golden Visa in 2020?

Discover the Golden Route to Invest in Portugal

Portugal’s deep rooted history dates back to 900 years and the country is a part of one of the oldest civilizations in the world. Being a member of the European Union and having a long-term stable economy, the country attracts many foreign investors. The advantages of living in Portugal are too many to count. Hospitality, safety, high quality of life, delicious food and rich culture are the first things that come to mind.

What kind of investments are taking place in Portugal?

Portugal’s stable economy attracts more and more investors every day. Increasing tourism activities and entrepreneurship opportunities are among the most popular business sectors. Therefore, foreign investments in the country will continue to expand. Investors can generate a capital gain of ten percent in Portuguese real estate market. Portuguese investors generate higher revenue by rental income. Foreign investors who prefer this route generally invest in the Portugal Golden Visa Program. In any case, the attractiveness of making an investment in Portugal is apparent. However, the high demand may cause certain problems. Especially, in the recent period, there has been a significant increase in real estate investments by foreign investors and the main focus is on the tourism sector.

So, what can we expect from Portugal Golden Visa in 2020? Since the introduction of the program, Portugal has been one of the most preferred countries by foreign investors. The real estate market is growing at an impressive rate. Along with the economic developments, Portugal promises a safe future for golden visa investors.

What is Portugal Golden Visa Program? 

The undeniable benefits of the Golden Visa Program encourages investment in Portugal. Since the beginning of the program, over € 4 billion has been invested in the Portugal Golden Visa through real estate acquisition. In general, those who invest in Golden Visa are top segment professionals from outside of Europe. The desired goal of having a Portugal Golden Visa is to create jobs in international markets without the need for a visa and to acquire a second citizenship in the future. Individuals who are non-EU/EEA nationals and over 18 years old are eligible for Portugal Golden Visa application. 

Investment Options for the Program

The applicants may select from several investment options and maintain the investment for at least 5 years. Among these investment options, the most preferred investment among the applicants is property acquisition. 

Real Estate: The applicant is required to make a minimum of €500.000 investment in to a Portuguese property. 

Real Estate Restoration: If the applicant chooses to invest in a property which is over 30 years old, then the minimum investment requirement is €350.000

Money Transfer: The investor has to make a minimum of €1 million transfer to Portugal. 

Portuguese Fund: The applicant is required to invest at least €500.000 in Portuguese funds.

Establishing a Business: Investor is required to create 10 new job positions for Portuguese citizens. 

Scientific Research: Investor makes a research & development investment for at least €350.000

Cultural Contribution: Investor makes a minimum of €250.000 investment to relevant cultural institutions


Portekiz Golden Visa Başvurularında Büyük Artış Gözlemleniyor

Portekiz’in Golden Visa programı diğer programlar içerisinde en çok tercih edilen programlardan biri. Piyasadaki diğer yatırım yoluyla oturma izni veren programlarla karşılaştırıldığında Portekiz yatırımcılar daha uygun yatırım miktarı karşılığında AB pasaportu elde etme imkanı sunuyor. Golden Visa programıyla 2012 yılından beri birçok yabancı yatırımcı Portekiz’e önemli ölçüde yatırım yaptı. Portekiz yıllar içerisinde Golden Visa sürecinde uzmanlaştı ve artık başvuru sahipleri için kolay takip edilebilir bir sürece dönüştü. Böylece Portekiz Golden Visa Programı son zamanlarda daha da popüler oldu ve Portekiz’le ilgilenen yabancı yatırımcıların sayısında büyük ölçüde artış görülüyor.

Golden Visa Başvuruları Rekor Mu Kırıyor?

Mart 2018’den bu yana Golden Visa programına başvuran adayların bir çoğunun onaylanmadığı görülse de Temmuz 2019’da bu durum tersine dönmüş gibi görünüyor. Temmuz ayı içinde toplam 155 yeni başvuru sahibi oturma iznini aldı. Yatırımcılar oturma izinlerini almak için toplam 98,3 milyon dolar yatırım gerçekleştirdi. Golden Visa yatırımları yurtdışında yeni bir hayat kurmak üzere konut yatırımı olarak veya daha fazla kar elde etmek üzere satın alının konutu kiralayarak gerçekleşebiliyor.

Portekiz Golden Visa Olan İlgi En Çok Çinli Yatırımcılardan

Portekiz Golden Visa programına tüm dünyadan farklı pek çok milliyetten yatırımcılar başvuruyor fakat en çok başvuran yatırımcılar genelde pek değişiklik göstermiyor ve başvuru sayıları genelde aynı seviyelerde oluyor. Yunanistan Golden Visa Programında olduğu gibi Portekiz Golden Visa Programına da en çok başvuran yabancı yatırımcılar Çin’den geliyor. 

Brezilyalı Yatırımcıların Portekiz Golden Visa’ya Artan İlgisi

Temmuz 2019’da elde edilen verilerin bir şaşırtıcı tarafı da Brezilyalı yatırımcıların sayısındaki artış oldu. Bir önceki aya göre keskin bir yükseliş gösteren Brezilyalıların Portekiz Golden Visa Programına olan ilgisi devam edecekmiş gibi görünüyor. Çin ve Brezilyayı, Nisan 2019’dan bu yana her ay 4-5 yatırımcı gönderen Rus, Türk ve Güney Afrikalı vatandaşlar takip ediyor.

Portekiz Golden Visa ile Gayrimenkul Yatırımı Yapmak Neden İyi Bir Fikir?

Portekiz Golden Visa Programı, değerini ve popülerliğini sürekli artırıyor. Büyük turizm faaliyetlerinin yanı sıra, son zamanlarda ülke yatırımcı vizesi programları kapsamında popüler bir seçeneğe dönüştü. Portekiz hükumetinin 2012 yılında yürürlüğe soktuğu Golden Visa Programı aracılığıyla önemli miktarda gayrimenkul yatırımı alıyor.

Çevre Dostu Başkent Lizbon

Ülkenin turizm sektöründeki başarısından ayrı olarak, Lizbon, Nijmegen’de düzenlenen bir törenle “2020 Avrupa Yeşil Başkent” ödülünü aldı. Jüri sürdürülebilirlik değer alarak Lizbon’un Avrupa Birliği’ndeki diğer birçok şehir için ilham verici bir konumda ve rol model olabileceğini düşündü. Portekiz sermayesi, hem ekonomik büyümede hem de sürdürülebilirlikte başarıya örnek teşkil etmiştir.

Lizbon’u Avrupa Yeşil Başkenti 2020 olarak adlandıran jüri, Lizbon’un sürdürülebilir arazi kullanımı, yeşil büyüme ve ekolojik yenilik, iklim değişikliğine uyum ve sürdürülebilir kentsel ulaşım çözümlerinde özellikle iyi olduğunu tespit etti. Bu yüzden, yoğun nüfuslu başkentlerden biri olmasına rağmen, Lizbon hala yaşanabilecek bir yer olarak öne çıkıyor.

Golden Visa Programının Sağladığı İmkanlar

Portekiz Golden Visa programı, Avrupa Birliğine mensup olmayan ülkelerin vatandaşlarına belirli bir miktar yatırım karşılığında oturma izni sunuyor. Beş yıl yasal oturum süresinin ardından Portekiz vatandaşlığına başvurma imkanı sağlayan program, Avrupa vatandaşı olmak isteyen bireyler arasında oldukça popüler. Gayrimenkul yatırımı olarak en az 500.000 Euro değerinde bir yatırım gereklidir. Ülkeye nitelikli yabancı yatırım çekmek için başlatılan program gün geçtikçe daha çok yatırımcının dikkatini çekiyor.

Portekiz’de Gayrimenkul Piyasası

Portekiz mülkleri ve özellikle Lizbon evleri, son yıllarda oldukça hızlı bir şekilde değerlerini artırdı. Bu nedenle yatırımcılar genellikle Lizbon merkezinde gayrimenkul satın almayı pahalı buluyor. Yine de, Lizbon veya kıyı bölgelerinin daha fazla kırsal kesimi büyük ve eşsiz gayrimenkul fırsatları sunmaktadır.