Portugal Property for Obtaining Golden Visa

Investing in real estate in Portugal is proving the most popular option among Golden Visa applicants, for 4 main reasons:

• Compared to other European countries, Portugal property prices are still relatively low, so there is room for capital appreciation, fuelled by the fact that tourism is having a spectacular growth. What will happen in 5, 6 or 7 years is anyone's guess, because of the unpredictability of economic cycles, but a patient investor who can wait for a market upturn will in principle benefit from interesting capital gains.
• The relatively low amount of the minimum required investment (from €280,000).
• The relative security and potential return of a property investment.
• The current opportunity in Portugal for grabbing property at still very low prices.
  

The only items that count towards your Golden Visa real estate investment are the price you pay for the property and, under the rehabilitation option, the ex-VAT cost of the contracted renovation works. Professional fees, Government fees and taxes do not, i.e. they cannot be included in the calculation of whether you met the minimum investment requirement.

Under the Golden Visa regulations of 2015, there is essentially nothing new as regards a property purchase for >€500,000, except that the minimum required investment has been lowered to >€400,000 if the property is in a "low density" area. But in the case of the property rehabilitation investment option, the investment (of at least €350,000, or €280,000 if in a "low density" area) must be made in both the property purchase and the respective renovation works, net of VAT.

Since 1st  January 2022, Lisbon Metropolitan Area, the Western coastal area territory, Porto Metropolitan Area (except for the Municipality of Arouca and the parishes of Junqueira and Arões in the Municipality of Vale de Cambra) and in the majority of the councils located in the Algarve territory were excluded from the Golden Visa scheme.

Under the property rehabilitation option, unlike that of a normal property purchase, a purchase promissory agreement is not accepted as proof of the investment, i.e. you have to submit a copy of the final purchase deed together with the Golden Visa application. Besides the copy deed, one has also to submit the following documents (among others):

• The renovation works contract (or proof of the planning permission application in case the contract has not yet been signed);
• The official receipts for any payments made to the contractor;
• In case the property purchase plus the payments to the contractor do not yet reach the minimum required amount, a statement by the investor's bankers confirming that at least the remainder is kept in a deposit account by the investor.
  

An investment in real estate for residential purposes is now limited to properties located in the interior territories of Portugal and in the islands of Madeira and Azores. Please see the eligible locations in the interactive map below. Also, if you contact us in this regard, we can provide a sheet where you can check the eligibility of every town and parish in Portugal. 

As mentioned above, another option for the Golden Visa is to invest in real estate for non-residential purposes.

For non-residential purposes, you can invest anywhere in Portugal, as shown in the map below. The investment can be made whether as an individual owner or as a co-owner, provided that the Golden Visa main applicant invests singly the minimum required amount.