Portugal travel places, real estate opportunities and Visa for Europe? Why live and invest in Portugal ? Because is one of the major touristic attractions of Europe and the perfect retirement home! What are the investment requirements? The investor has the option to choose one of the following investments. Transfer of at least 1,000,000 EUR to the investment fund. He has to create at least 10 new jobs. He is free in purchasing a property of at least 500’000 EUR. He can invest 350’000 EUR in a 30 years old property located in an urban rehabilitation area, in scientific projects, in projects supporting national cultural heritage, investment fund or environmental projects. Since 2018, you can invest 350’000 EUR in a fully regulated investment fund. Just 15 investors of more than 7’208 (28 February 2019) opted for the 10 jobs creation program. Nearly all investors are investing in profitable real estate properties in the capital Lisbon, Faro and in touristic areas. Based on Golden Visa Portugal property prices are increasing by 10% to 12% per year. Real estate investments in the main cities are very attractive investment opportunities.
Usually, you complete the application through your lawyer, and it can take up to 6 months for approval. It is technically possible to do everything on your own, but I wouldn’t recommend it. If you want to bring along your family members, their application is submitted simultaneously. A processing fee of €532.70 is paid for the first applicant and €83.10 for each of the remaining family members. When your application is approved you pay an approval fee of €5,274.40 for each applicant. After ten to twenty days, you should receive your residency card valid for one year.
In order to be eligible for the scheme you must conduct an investment activity either as an individual or a company set up in Portugal or another EU Member State, meet the time requirements above 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. Read extra info at Get a 2nd passport with a golden visa in Portugal.
While the program has benefited more than 6,500 foreign investors so far, it has also been beneficial for the Portuguese economy. As of this writing, the total investment into Portugal as a direct result of the program has reached a whooping €4,851,321,701. That’s almost five billion euros. That’s great news for prospective investors, as the program has broad support from nearly all political parties in Portugal. While a conservative government introduced the program in 2012, the current socialist coalition government has even expanded the program since seizing power at the end of 2015.
As well as being able to experience the Portuguese lifestyle for yourself, the Golden Visa scheme will also provide you and your family with the opportunity to explore the rest of Europe and discover all that it has to offer. Those enrolled 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. Find even more info on https://www.idealhomesinternational.com/.