The increasing appeal of investing in Portugal

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Author: Tiago Camara , Partner, PTgoldenvisa.com

July 7, 2022

Portugal is not only a country known for its amazing and unique history and cultural heritage. Portugal is also famous for its hospitality, gastronomy and beauty. It is a country with 3,000 hours of sunshine per year, 850km of splendid beaches bathed by the Atlantic Ocean and a mild climate that every year guarantees Portugal as one of the best holiday destinations in Europe. The Portuguese are proud of their traditions as well as their ability to add modernity in perfect harmony with them. This unique blend of old and new is especially noticeable when it comes to the superb cuisine, restaurants and new chefs, the fine wines, and the unparalleled hospitality services.

However, it is not just these things which mark Portugal out as a choice destination. As one of the most developed nations in the world, Portugal boasts excellent higher education institutions and one of the best public health systems in the world. Portugal ranks as one of the safest countries, it is politically and economically stable and is also open for business. Events like websummit, and several others related to IT companies and start-ups, are placing Portugal as one of the best IT hubs in all of Europe.However, what is really making Portugal stand out as an investment destination for non-European families is the well-structured Portuguese Residency Programme by Investment, also known as Golden Visa. The Portuguese authorities launched this residency programme in 2012 to attract investment, and in the last 10 years it has seen more than €8bn of investment from foreign investors, with an average of 1,000 investors per year.

A better future
In a world where uncertainty has become the new normal, high-net-worth individuals are increasingly seeking security and freedom of movement. Amid the pandemic fallout and conflict in Ukraine, high-profile non-European investors are ensuring a better future for themselves and their families in the EU by taking advantage of Portugal’s highly-coveted residency programme by investment.

The Portuguese residency permit programme is a scheme that grants investors access to Portuguese residency through investment, starting at €280,000. Investors and dependents are required to stay in Portugal for just seven days a year, on average. In addition, investors when approved on the residency permit programme immediately gain the use of Portugal’s public hospitals at no charge, as well as access to European universities and job markets. The programme not only allows investors and their family members to travel freely, work, live and study in all Schengen countries, but it is also the only programme in Europe that allows them access to European citizenship in as little as five years without the need to relocate.

The Portuguese passport consistently ranks among the most powerful and travel-friendly, granting visa-free access to more than 170 countries. Applying for a Portuguese golden visa, therefore, brings a wealth of opportunities – from exciting business prospects to long-term plans for retirement plus education and a career for the next generation.

In Portugal, there are several options of investment in order to obtain the Golden Visa residency permits. However, investors have been most interested in Portuguese real estate, due to the huge returns the market is providing, both on rental income and capital appreciation. With real estate, investors are required to make investments starting from €280,000; or alternatively, Golden Visa applicants can access the scheme through investment in a Portuguese investment fund – with a minimum value of €500,000.

Since January 1, 2022, the rules of the programme changed and applied geographical restrictions on the qualifying areas for real estate investments. Residential properties are now only available for investors in the interior of Portugal and its islands. Therefore investing in popular cities such as Lisbon or Porto is only possible if the investment is in commercial/non-residential properties, like offices or shops.

The new rules actually broaden the geographical availability to the interior of Portugal and to popular islands such as Madeira and Azores, where PTGoldenvisa has been offering several profitable projects that guarantee a title deed for investors and rental returns. These locations are now attracting local and international developers, to build residential projects, in order to offer solutions for the international community. The amazing and historical villas of Portugal, filled with culture and traditions, are now finally being discovered by foreign investors.

Portugal is definitely a destination where one should invest. It is not an option anymore, it is a must have. Portugal is without doubt one of the most competitive destinations for investment migration in the European Union. Focused on ensuring safe and profitable business investments, PTGoldenvisa offers a full integrated service support to investors willing to apply for the Portuguese residency permits and citizenship. PTGoldenvisa is a credible, reliable and experienced company in the Portuguese market managed by local, experienced business managers with a track record of more than 150 successful applications per year.

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