Portugal is a country that is considered an international center and as such is increasingly interesting to tourists, but also to those who want to live or invest in this country. Simply, this is a country you have to fall in love with, you have to like the people who are very accommodating and where there are no language barriers.
Among the most famous tourist destinations are Lisbon and Porto, cities that never leave anyone indifferent. Of course, we must not overlook the Mediterranean climate and the long, sandy beaches located on the coast of the Atlantic Ocean.
Considering that this country is an increasingly desirable tourist destination, it is not surprising that there are more and more foreign tourists who want to invest in this country, usually in real estate. Real estate is undoubtedly an incest that always pays off. Having real estate in another country is something that has benefited each of us.
There are various ways to obtain the citizenship of a country, whether it is birth, descent, marriage, or naturalization, but lately there is more and more talk about the concept of the so-called citizenship through investments.
Citizenship by Investment programs are designed to ensure that investments contribute to the well-being, progress, and economic development of the country where individuals want to be or belong. Imagine having a place where you can travel for a few days during the year and feel at home because it is actually your second home.
In addition to having cheaper vacations, you will also have the opportunity to earn additional money by renting out real estate, and the best of all is that at the same time, you will receive certain benefits, such as obtaining a Portuguese golden visa that paves the way for qualifying for a residence permit. You can learn more about this topic if you visit https://imperiallegal.com/portugal-residence.
What Is a Golden Visa?
Source: europarl.europa.eu
The golden visa is a visa that will enable you to qualify for a residence visa in this European country, as well as to live for up to five years and during that time to travel freely within the Schengen countries.
What Is the Minimum Amount to Invest?
One of the main conditions for obtaining these benefits is to invest at least 500,000 euros in real estate in order to provide capital for companies. However, it is important to note that while Portugal’s real estate investment and its golden visa program remain a popular choice, it does not offer a direct path to citizenship.
It serves as a shortcut to obtaining permanent residence after 5 years and then meeting the requirements to apply for a Portuguese passport.
Taxation
There are a number of advantages that you will encounter if you decide to invest in real estate, namely that you can be exempt from paying taxes under certain conditions or have them significantly reduced.
Conditions
The Golden Visa program also requires the applicant to spend seven days in Portugal each year. Once the application is approved, the applicant will receive their Portuguese passport within six to eight weeks.
How Do You Find a Suitable Property?
Source: independent.co.uk
Then when you decide to invest in this country, it’s time to think about the type of property you want to buy. If you are someone who doesn’t stay in this country often, and you don’t know the best places and destinations to invest in, it’s time to contact a real estate agent.
Maybe this seems like an additional cost, but it is actually a sure way to get what you want, you just have to state your conditions. In this way, you will save a lot of time and effort because these people are familiar with all the properties that are on the market and can very easily find the one you are interested in.
Advantages and Disadvantages of Acquiring Real Estate in Portugal
Source: telegraph.co.uk
Like any investment, this one could be said to have both advantages and disadvantages, and it is up to each of us to decide whether to take this step or not.
When we talk about the advantages of investing, one of the biggest is certainly the qualification for obtaining a Golden Visa, which will enable you to live and work smoothly not only in Portugal but also in other Schengen countries. After five years, you will have the right to apply for citizenship. The next positive thing is that interest rates are really low.
When we talk about the disadvantages of investment, we will mention real estate prices, which have grown enormously in the last few years due to the great interest of foreign investors. Another thing that could be complicated for you is the interpretation of legal provisions and jurisdiction, and if you decide to invest, it is very important to deal with this issue seriously.
There are about twenty countries in the world, including several from the EU, which allow financially well-off individuals to acquire citizenship, but at a certain price, i.e. through the “citizenship in exchange for investment” program.
The aim of this measure is to facilitate the process of obtaining a residence permit for foreign investors who buy real estate or invest in the economy. In any case, the proposal is to buy real estate through the Golden Visa program, because that way you secure yourself a direct residence permit, where after 5 years you enter the right to apply for permanent residence and citizenship.
Final Thoughts
As we can see, citizenship by investment is a program that really pays off. The task of everyone who is thinking about where to invest, is to find a perfect location. Do not hesitate to hire someone who could help you go through the paperwork easier.
With a simple search, you can easily find information about golden visas in Portugal or another country. All you need to do is want it and have the money to make it possible. If you decide to invest in Lisbon, you may want to know do you need to speak Portuguese to live in Lisbon.
