Luximos Christie's International Real Estate

Golden Visa in Portugal and the property sales from Porto to Algarve

Golden Visa in Portugal and the property sales from Porto to Algarve

When buying a house, apartment or villa to live in the Algarve, Porto or north of Portugal, you can obtain a Gold Visa and a luxury status in the European area.

You can call it Golden Visa or Gold Visa. It is the name of the specific residence permit scheme for investment activity (ARI) and it has been in force in Portugal for almost seven years. Since October 2012, almost seven thousand Golden Visa have been granted, equivalent to an average of one thousand visas per year. Most of it is obtained when buying a house. The real estate acquired can be used as a dwelling or as an investment. For rent, for example. If you make a minimum investment of half a million euros in the real estate sector - by buying one or more properties -, in half a year you will get a residence permit in Portugal.

Buying a house is, thus, the easiest way to live in Portugal and have access to a luxurious set of privileges, like entering, residing and working in the country without a residence permit. Or circulating in the Schengen area with no need for a visa. You may also extend these benefits to all your direct family. After five years, you can apply for a permanent residence permit or even Portuguese nationality.

It's too attractive a regime. But it only makes sense in a country like Portugal, which concentrates an unusual number of virtues.

The list of factors that explains why so many foreigners are looking to invest in Portugal, especially in Porto and in the Algarve, is, therefore, extensive: quality of life, security, political stability, hospitality, strategic location, mild climate, the best golf courses and the best marinas in Europe, luxury beaches, highly-skilled professionals in almost all areas, top international schools, affordable cost of living, ease in setting up a business, support to entrepreneurship and startups, excellent infrastructures and, not least, outstanding-quality tourism offer, as well as cultural and gastronomic offer. Not by chance, Forbes magazine considered Portugal the new destination to invest, highlighting its young and specialized population. Portugal is no longer just a seaside resort, it is a “reservoir of talent”, the magazine ensured.

If you are planning to invest or move to this country bordering the Atlantic ocean, but you do not know where to start your process, take the safest route and contact a real estate agent at LUXIMOS Christie's International Real Estate. Strongly implemented in the luxury real estate segment, the company is also distinguished by providing, through its experienced legal department, a full and customized service that ensures all the details of the various steps of the procedure.

LUXIMOS can also advise you about the geography of the country, explaining the differences between investing in the South or in the North. It can explain you the benefits of buying a plot area or an apartment in one of the exclusive private condominiums built in the Algarve, by the sea. The company has several houses for sale in this region, characterized by its almost 365 days of sunshine per year, namely in Lagos, Albufeira and in the prestigious Golden Triangle, which includes the famous resorts of Vilamoura, Quinta do Lago and Vale do Lobo. And it can also introduce you to the northern charm, which characterizes the cities bordering Douro River, as Porto and Vila Nova de Gaia, and the cities close to the sea, as Matosinhos. LUXIMOS has buildings and apartments to sell in the traditional Downtown and in the cosmopolitan centre of Porto and villas with garden and swimming pool in the noble area of Foz do Douro.

It is worth knowing that the value of the investment in the real estate segment may be slightly lower if the real estate to be purchased has been built more than 30 years ago, or if it is located in an urban rehabilitation area. In this case, the value needed to obtain the Golden Visa becomes EUR 350,000. It is a unique opportunity, which many have already taken advantage of, as the latest report by the Foreigners and Borders Service (SEF) reveals.

According to these official data, more than 90% of the investment made was precisely in the real estate sector. Portugal has already issued 6,962 Golden Visas for investors who bought real estate, 374 for investors who transferred capital to the country and 13 for investors who created at least 10 jobs. At the same time, 11,815 Golden Visas were granted to family members of investors. China leads the ranking of the nationalities that invest the most in Portugal (4073 Golden Visas), followed by Brazil (653), Turkey (295), South Africa (275) and Russia (243).

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