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PROPERTY INVESTMENT IN PORTUGAL

The investment in property must be maintained for at least five years, and funded by money sourced abroad. All investments must be made prior to submitting your golden visa application, otherwise it will not be accepted.

94% of golden visas issued by the Portuguese government in 2016 were granted based upon property investments. This investment route is so popular because the real estate sector is considered a safe haven; the country’s low supply and strong demand keeps prices high. Returns for real estate sold in areas such as Lisbon and the Algarve average at around 15% – making property a solid investment.[/vc_column_text][vc_tta_accordion c_icon=”chevron” c_position=”right” active_section=”0″][vc_tta_section title=”What type of property do I need to purchase?” tab_id=”1523660557060-5dabb2d4-ee33a3a0-a20c”][vc_column_text]

You can purchase any type of real estate including family homes, holiday apartments, shops, offices, and farms. However, the amount you must invest in property varies depending on the qualifying category.

These categories are outlined below:

  • A property which was constructed more than 30 years ago, or a property which is in an ‘urban renewal’ area and needs refurbishing – investment of at least €350,000 required, which includes the cost of any intended renovation works

  • All other property types – investment of at least €500,000 required.

If the property is located in an area of low population density* the value requirement may be reduced by 20% (to €280,000 and €400,000 respectively).

[/vc_column_text][/vc_tta_section][vc_tta_section title=”What fees are involved with acquiring property in Portugal?” tab_id=”1523660557084-9c6fa004-cce1a3a0-a20c”][vc_column_text]There are a number of charges relating to property purchase such as stamp duty, property transfer tax and several necessary certificate fees. See: Portugal Golden Visa & Property Investment expenses[/vc_column_text][/vc_tta_section][vc_tta_section title=”Are there any restrictions on renting out my property?” tab_id=”1523660590116-afa41c63-d45fa3a0-a20c”][vc_column_text]No – the property is yours to use as you please. If you choose not to live in the property permanently, you may rent it out for residential or commercial purposes and you will pay a flat tax rate of 28% on any rental income. Either way, you must keep your property for a minimum period of five years.[/vc_column_text][/vc_tta_section][vc_tta_section title=”Can I fulfil the requirement by purchasing more than one property?” tab_id=”1523660605982-469d3019-6a95a3a0-a20c”][vc_column_text]

Yes – you don’t have to spend all your investment funds on one property. You can, for instance, buy two properties each valued at €250,000 to fulfil the investment requirement. But if you purchase property from different qualifying categories as outlined above, you must always meet the higher investment requirement value.

For example, if you acquire one new property and one property that is more than 30 years old, the total value of both properties must equal or exceed €500,000.

[/vc_column_text][/vc_tta_section][vc_tta_section title=”Can I purchase real estate in co-ownership?” tab_id=”1524737910439-d3a87014-ccdc”][vc_column_text]Yes, but you must still invest the required amount in the property yourself. Even if the value of the property exceeds €500,000, for example, you will not qualify for the golden visa unless you alone have contributed at least €500,000 to purchase the property.[/vc_column_text][/vc_tta_section][vc_tta_section title=”For how long is the Golden Visa valid? ” tab_id=”1524737949737-2c979238-ea6b”][vc_column_text]A Golden Visa is normally granted for an initial period of one year. It will be renewed for subsequent periods of two years. After five years, the investor and family members can apply for permanent residency.[/vc_column_text][/vc_tta_section][vc_tta_section title=”How can Coates Global help me with my property investment?” tab_id=”1524737987415-12568463-e9ae”][vc_column_text]Our team of dedicated experts in the Lisbon office can help you through the buying process – from arranging viewings to managing the property on your behalf once acquired.[/vc_column_text][/vc_tta_section][/vc_tta_accordion][vc_column_text]

Requirements

Portugal’s Golden Residence Permit programme offers a simple, flexible and fast-track route for investors to gain residency. In order to be eligible to apply for a golden visa of Portugal, the investor must meet the following requirements:

The main applicant must be a non-EU or EEA national and must have a clean criminal record.

The required level of property investment is between €280,000 and €500,000, depending on the area, age and condition of the property:

  • Properties in urban areas, with construction dating back less than 30 years – a total value equal to or above €500,000
  • Properties in low-density areas, with construction dating back less than 30 years – a total value equal to or above €400,000
  • Properties in urban areas, with construction dating back more than 30 years, or located in urban regeneration areas – a total value equal to or above €350,000
  • Properties in low-density areas, with construction dating back more than 30 years – a total value equal to or above €280,000

The investment must remain in place to maintain residency status for at least five years.

Under the Golden Visa Programme, there are no maximum stay requirements, but you are required to spend at least seven days in Portugal, not necessarily consecutive, for at least seven days in the first year and 14 days each year thereafter.

Residency must be renewed after year 1, year 3 and year 5.

Portugal is an attractive destination for both residence and vacations. With a warm Mediterranean climate, stable government, and quality international schools – it’s no surprise that Portugal’s capital, Lisbon, is ranked among the best cities in the world for quality of living.*

*According to Worldwide Quality of Living Survey 2016.

What documentation is required?

  • Proof of your investment (as this needs to be made before submitting your application)
  • Passport and a valid Schengen visa
  • Portuguese Fiscal number (an ID number issued by the Portuguese Tax Authorities before your investment can be made)
  • A copy of your criminal record from your country of residence
  • A copy of your Portuguese criminal record
  • A declaration from the Tax department confirming you owe no debts to the Tax authorities
  • A declaration from Social Security proving the absence of debts to Social Security Authorities
  • A declaration from the investor confirming compliance with the investment requirements
  • Confirmation of health insurance valid in Portugal, or that you have access to public health services (if living in Portugal)
  • Receipt of payment of the initial application fee.

Documents need to be in Portuguese or English language. If not, they should be translated into Portuguese and translation needs to be legalised with an ‘apostille of the Hague’. This is a small certificate which is stamped and affixed to your documents, and is recognised internationally as a mark of authentication.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]CAPITAL INVESTMENT IN PORTUGAL

The investment must be maintained for at least five years, and funded by money sourced abroad. All investments must be made prior to submitting your golden visa application, otherwise it will not be accepted.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_tta_accordion c_icon=”chevron” c_position=”right” active_section=”0″][vc_tta_section title=”What is a capital investment?” tab_id=”1523660557060-5dabb2d4-ee3349a0-53a3″][vc_column_text]A capital investment relates to funds which are being invested in businesses usually for long-term use. This could be long-term assets, working capital, or equity stakes.[/vc_column_text][/vc_tta_section][vc_tta_section title=”What are my investment options?” tab_id=”1523660557084-9c6fa004-cce149a0-53a3″][vc_column_text]

  • To obtain a golden visa, you may complete a capital transfer of funds from abroad to a bank or institution in Portugal. You can choose one of four investment streams and invest the following amounts:
  • Funding of arts and culture (at least €250,000) – You must invest in programmes which support the arts (e.g. music, theatre, filmmaking), or that help to preserve national heritage. This may include restoring buildings, landmarks, monuments, and places of cultural or historic significance. The investment amount may be reduced by 20% (to €200,000) if the investment is made in an area of low population density.

  • Funding of research activities (at least €350,000) – You must invest in research that is undertaken by either public or private scientific institutions, such as national projects regarding the advancement of scientific or technological systems. The investment amount may be reduced by 20% (to €280,000) if the investment is made in an area of low population density.

  • Capitalisation on SMEs (at least €500,000) – You must purchase shares in investment funds, or in venture capital that will fund small or medium-sized enterprises. The company receiving your funds should have a viable long-term plan for spending the capital you invest in their business.

  • Freedom to invest (at least €1million) – You are free to invest your funds in company shares, bonds, securities, and savings certificates.

[/vc_column_text][/vc_tta_section][vc_tta_section title=”Can you help me choose a suitable investment?” tab_id=”1523660590116-afa41c63-d45f49a0-53a3″][vc_column_text]As a law firm, we cannot advice our clients about their investment routes, however, we assist them to find a regulated financial advisor. To find out more about how we can help you, contact us by calling +44  203 971 5088.[/vc_column_text][/vc_tta_section][vc_tta_section title=”What documentation is required?” tab_id=”1523660605982-469d3019-6a9549a0-53a3″][vc_column_text]

  • Proof of your investment (as this needs to be made before submitting your application)
  • Passport and a valid Schengen visa
  • Portuguese Fiscal number (an ID number issued by the Portuguese Tax Authorities before your investment can be made)
  • A copy of your criminal record from your country of residence
  • A copy of your Portuguese criminal record
  • A declaration from the Tax department confirming you owe no debts to the Tax authorities
  • A declaration from Social Security proving the absence of debts to Social Security Authorities
  • A declaration from the investor confirming compliance with the investment requirements
  • Confirmation of health insurance valid in Portugal, or that you have access to public health services (if living in Portugal)
  • Receipt of payment of the initial application fee.

Documents need to be in Portuguese or English language. If not, they should be translated into Portuguese and translation needs to be legalised with an ‘apostille of the Hague’. This is a small certificate which is stamped and affixed to your documents, and is recognised internationally as a mark of authentication.[/vc_column_text][/vc_tta_section][/vc_tta_accordion][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]EMPLOYMENT CREATION IN PORTUGAL[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_tta_accordion c_icon=”chevron” c_position=”right” active_section=”0″][vc_tta_section title=”How many jobs do I need to create?” tab_id=”1523660557060-5dabb2d4-ee3349a0-53a3″][vc_column_text]To gain a golden visa through the employment route, you must create at least 10 local jobs for a period of at least five years. This requirement is reduced by 20% if jobs are created in an area of low population density.* In this instance, only 8 jobs would need to be created.[/vc_column_text][/vc_tta_section][vc_tta_section title=”What type of jobs can be created?” tab_id=”1523660557084-9c6fa004-cce149a0-53a3″][vc_column_text]There are no restrictions on the types of jobs that you may create. The jobs can be in any area of business, and may be created by any size and type of business[/vc_column_text][/vc_tta_section][vc_tta_section title=”How much do I need to spend on employment creation?” tab_id=”1523660590116-afa41c63-d45f49a0-53a3″][vc_column_text]

There is no minimum investment amount in the creation of jobs (for example, training and equipment costs). However, the minimum monthly wage in Portugal in 2017 is €649.83, which equates to €7,797.00 annually. So, creating 10 jobs for a period of five years will require a minimum investment of at least €389,900 (or €311,920 for 8 jobs).

*An area of low population density has less than 100 inhabitants per square kilometre, or the GDP per person is below 75% of the national average.

[/vc_column_text][/vc_tta_section][vc_tta_section title=”What documentation is required?” tab_id=”1523660605982-469d3019-6a9549a0-53a3″][vc_column_text]

  • Proof of your investment (as this needs to be made before submitting your application)
  • Passport and a valid Schengen visa
  • Portuguese Fiscal number (an ID number issued by the Portuguese Tax Authorities before your investment can be made)
  • A copy of your criminal record from your country of residence
  • A copy of your Portuguese criminal record
  • A declaration from the Tax department confirming you owe no debts to the Tax authorities
  • A declaration from Social Security proving the absence of debts to Social Security Authorities
  • A declaration from the investor confirming compliance with the investment requirements
  • Confirmation of health insurance valid in Portugal, or that you have access to public health services (if living in Portugal)
  • Receipt of payment of the initial application fee.

Documents need to be in Portuguese or English language. If not, they should be translated into Portuguese and translation needs to be legalised with an ‘apostille of the Hague’. This is a small certificate which is stamped and affixed to your documents, and is recognised internationally as a mark of authentication.[/vc_column_text][/vc_tta_section][/vc_tta_accordion][/vc_column][/vc_row][vc_row][vc_column width=”1/2″][vc_btn title=”Portugal’s Golden Visa Brochure” style=”flat” shape=”square” color=”white” link=”url:http%3A%2F%2Fwww.coatesglobal.com%2Fwp-content%2Fuploads%2F2018%2F11%2FPortugal.GoldenVisa_1pager.pdf||target:%20_blank|”][/vc_column][vc_column width=”1/2″][vc_btn title=”Portugal’s Golden Visa Property Investment Expenses” style=”flat” shape=”square” color=”white” link=”url:http%3A%2F%2Fcoatesglobal.com%2Fwp-content%2Fuploads%2F2018%2F05%2FPORTUGAL_GOLDEN-VISA_STEP_BY_STEP_COSTS_AND_-EXPENSES_FOR_VIP_CLIENTS.pdf||target:%20_blank|”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]

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