Information on the Golden Visa in Portugal


Information on the Golden Visa in Portugal

 

Need help to sell property in Portugal to Golden Visa buyers, then you would be pleased to know that the scheme has been a massive success with property investors from China, Russia and other non-European Union nations.

Portugal is a beautiful country with just 10.5 million residents and it is one of the most cosmopolitan nations in Europe. Foreign nationals don’t feel isolated in Portugal because of the warm and friendly nature of the locals there, and they love the Portuguese climate as well – which is moderate all through the year. They love the beaches and the wine, and appreciate the fact that Portugal has a very stable economy and an impartial legal system.

It makes a lot of sense to buy Portuguese property right now as Portugal is only just getting out of the deep rooted global economic recession of 2008, and property rates look set to regain the highs witnessed in the pre-recession period.

Along with residency permits in Portugal, also available to foreign property investors who take the Golden Visa is the 5 year Schengen Visa, which allows for unrestricted movement through the EU nations that are party to the Schengen treaty.

The Golden Visa in Portugal has been quite popular, and over 1500 of them were handed out to foreign nationals from China, Russia and Brazil, with a majority of the successful applicants being from China.

Most foreign property investors who got the Golden Visa invested in luxury properties in various cities in Portugal. As Real estate agent Nuno Durao says, "The government's golden visa law was one of the best ever for helping Portugal. It is uncomplicated and brought investments immediately."

Portugal's Deputy Prime Minister Paulo Portas talks about how beneficial the Golden Visa has been to the country:  "The golden visa has brought Portugal 1.27 billion euros [$1.38 billion] of investment in two years. So it would be stupid if we shut up shop and other countries earned that money."

Golden Visa in Portugal – The Details

It would help to know some of the details of the scheme if you are looking to sell property in Portugal to Golden Visa buyers. To apply for the Golden Visa in Portugal, one has to buy property worth €500,000 in Portugal, which cannot be sold for a period of 5 years after the purchase. It is possible to buy 2 or 3 properties at once to get the Golden Visa as well.

The Golden Visa holders and their immediate families are granted residency in Portugal initially for a period of 1 year, and which is then renewed every 2 years. Along with the residency rights in Portugal, they are granted a free Schengen Visa, which allows them to travel unrestricted through the Schengen area in the European Union.

To get the Golden Visa in Portugal, one has to stay at least 7 days in Portugal in the first year and 14 days in the following 2 year period. It is imperative for the applicant not to have any criminal record of any sort, not to have been in jail and to be older than 18 years.

If you’re looking to sell property in Portugal to Golden Visa buyers, then it helps to market your house in Chinese, Russian and Middle Eastern property portals and social media sites as that’s where all the demand for a residency in Portugal is coming from. Portugal offers a great foothold for a much desired entry into Europe, hence the great demand for the Golden Visa in Portugal from these countries.

 

 

 

 




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