According to CBRE’s Market Outlook 2021, “in 2020, CBRE registered a total of 2.9 billion euros inflow to commercial real estate in Portugal”. So, the interest in the Portuguese real estate market has never subsided despite the recent pandemic.

More than 9,500 residencies were granted to overseas investors

The statistics from the national borders service (SEF) indicate that the number keeps growing each month. Since 2012, over 9,500 foreign investors were able to get their residency in Portugal, known as the Golden Visa program. In the basic sense, you get Portuguese residence in return for a qualified investment. Buying real estate is one of the options to do this.

More than 9,000 investors chose to buy real estate as a qualified investment

Compared to the overall investor number, over 9,000 investors for real estate is significant. It is more than 90% of the total number.

The real estate option offers a few other options in itself. They differ in terms of minimum investment amount and location.

• Of these choices, the most common one is the €500,000 option. You can buy a property anywhere in Portugal at a minimum value of €500,000. There has been a recent change, though. This option will be available until January 2022. After that day, the government will restrict buying real estate in Lisbon and Porto. Other cities, however, will still be available to invest in. The aim is to shift investors’ interest to more low-density or urban rehabilitation areas.
• A minimum investment of €400,000 will be available if the property you want to buy is in a low-density region.
• Another real estate option is an investment of €350,000. Such property must either be in an urban rehabilitation area or more than 30 years of age. If that property is also in a low-density area, the minimum amount drops to €280,000.

You don’t need to move your residency at all

Portugal’s Golden Visa does not demand a change of place. So, you don’t need to live in Portugal unless you want to. However, there is a certain number of days you need to spend in Portugal. For the first two years, it is at least 14 days. At the end of this period, you need to renew your residency again. For the remaining three years, you need to spend at least 21 days in Portugal.

You can access an extended right of mobility

Once you obtain a Portuguese residency, you can visit Schengen countries visa-free. You don’t need to wait for citizenship for this.

As a holder of two residencies, you can travel between Portugal and your home country whenever you want. So, you will do away with significant paperwork.

When you obtain citizenship, you can also visit a total of 186 countries visa-free.  To get citizenship, you need to complete the five years of stay requirement. Once this period is over, you can apply for permanent residency as well.

What does EU citizenship mean?

EU citizenship means having the right to work, live or even study in any EU member country as much as you want. In certain conditions, voting and holding a public office are other opportunities. Being a Portuguese citizen automatically grants you EU citizenship as well.

Family is a part of this program

Golden Visa Program Portugal allows you to cover your dependent family members. They can be your spouse and children under 18. Children -under 26- who are students and not married are also eligible to benefit from the program. Lastly, your parents over 65 are included as well.

Family inclusion means that your family can also reside in Portugal, and they can get citizenship eventually.

The non-habitual resident program may work well if you consider moving to Portugal

NHR (Non-habitual resident program) proves quite beneficial for foreign investors in Portugal. Thanks to this schedule, your tax burden will lessen to a great extent. The plan goes like this:

• Shift your tax residency to Portugal. Apply for NHR.
• Stay in Portugal for at least 183 days a year.
• Be exempt from taxation on (most of) your foreign income.
• Enjoy this privilege for ten years.

To be qualified for this:

• You must have the right to Portuguese residency, and
• You cannot be a tax resident in Portugal in the last five years.