Investing in property through the golden visa Portugal program is the most popular route used by foreigners to receive EU residency. Anyone coming from outside the EU and Portugal can make a property investment that will give them access to the golden visa Portugal property investment residency program.
Which Property Can You Invest In?
There are no limits to the type of property you need to purchase to apply for the golden visa Portugal. The only restrictions you might encounter are those around the location of a property. For example, a recent parliamentary proposal aims to restrict foreign buyers from buying a property in Lisbon and Porto. This was occasioned by skyrocketing property prices in these two cities due to international interest.
Golden Visa Portugal Property Investment- Types of Property
You are free to purchase a residential property if you also want a place to move into when you get here. Depending on your needs and desired lifestyle, there are residential properties available all year round and across the country. You might find property value is better in the smaller cities like Evora, Villa Nova de Gaia, Lagos, Coimbra as compared to major cities like Porto.
In Portugal, many people prefer to own their houses as opposed to renting. This makes the real estate market quite vibrant and a buyer’s market throughout the year.
Foreigners who purchase commercial property worth 500,000 Euros or more are eligible for a 5-year golden visa. Commercial property can be warehouses, hotels, commercial buildings, godowns, among others. There is plenty of commercial property on sale in almost every part of the country.
You can also purchase productive land in rural areas such as parts of Coimbra, Lagos and even outside Porto. Agriculture is an important industry in Europe meaning you will most likely get value for your money.
Golden Visa Portugal Property Investment – What You Need to Know
You need a Fiscal Number (Numero fiscal de contribuinte) to buy property in Portugal. This is normally obtained from a tax office in Portugal or by opening a local bank account. It’s also advisable to buy a property through a local real estate agent as opposed to private purchases.