Algarve Realestate
Initiated in 2012, the Portuguese Government's Golden Visa Scheme has allegedly seen almost 5 billion euros already invested into the country and over 8,000 third country nationals granted temporary residence permits (14,000 people if you take into account their direct dependents).
It is easy to see why it's been so powerful as Portugal, with its warm climate, gorgeous beaches, fine cuisine and laid-back attitude, remains an extremely attractive proposition for those seeking to live, retire or invest overseas.
In addition to being able to experience the Portuguese lifestyle for yourself, the Golden Visa scheme will also offer you and your family with the opportunity to explore the rest of Europe and discover all that it offers.
Those registered in the scheme will benefit from the following:
- No visa required to enter Portugal
- Visa exemption for travelling through Europe (within Schengen Area)
- You can live and work in Portugal
- Dependent family members can also obtain temporary Portuguese residency
- Low minimum stay periods (7 or more days in first year and 14 or more times in following years)
- After 5 years you will have the possibility of obtaining permanent residency or citizenship and a Portuguese passport
So as to be eligible for the scheme you need to conduct an investment action either as an individual or a company set up in Portugal or another EU Member State, meet the time requirements above Golden visa property and do one of the following:
- Purchase real estate property with a value of at least 500,000$ (five hundred thousand euros) or 400,000$ (four hundred thousand euros) for the Algarve as it is classed as a low-density area
- Buy property property to refurbish that has been constructed over 30 years ago or situated in an urban regeneration area and with a value of at least 350,000$ (three hundred and fifty thousand euros) or 280,000$ (two hundred and eighty thousand euros) for the Algarve
- Create a capital transfer of at least 1,000,000$ (one million euros)
- Create at least 10 job positions
- Create a capital transfer of 350,000$ (three hundred and fifty thousand euros) for investing in research activities conducted by private or public scientific research institutions involved in the national scientific or technological system
- Make a capital transfer of at least 250,000$ (two hundred and fifty thousand euros) for investing in artistic output or supporting the arts, for reconstruction or refurbishment of the national heritage, through the local and central authorities, public institutions, public corporate sector, public foundations, private foundations of public interest, networked local authorities, local corporate sector organizations, local associations and public cultural associations, pursuing activities of artistic output, and reconstruction or maintenance of the national heritage
- Make a capital transfer of at least 500,000$ (five hundred thousand euros), for purchasing shares in investment funds or in venture capital geared to capitalize small and medium companies that, in turn, must present a feasible capitalisation plan
For more information on how to start the process, please get in touch with one of our specialists who can help advise you through from beginning to end.