Portugal Programme Celebrates Seven Years

Portugal’s record breaking Golden Visa programme turned seven years old this month. The programme was established in October 2012 and has achieved great success since, generating over €4.8 billion in investment. Recent figures also confirm that over 21,500 residency permits have been issued to date. There has been strong growth year on year, with 2019 being the most successful year on record. In quarter three alone, a staggering 665 residency applications were approved in these three months.

There are several avenues that investors can take when considering their real estate purchase. The original legislation (category 65A-c) requires investors to purchase real estate at €500,000 or above. This is ideal for investors who want to keep their options open and purchase any property, in any area, with no renovation or location requirement.

The most popular route for our clients has been through the reduced €350,000 option (category 65 A-d). Investors must purchase property in areas of urban regeneration or within buildings over 30 years old that are undergoing renovation work.  La Vida has a number of qualifying rehabilitation projects available, many of which come with a guaranteed rental return of 4% p.a and excellent appreciation potential. The renovation work is completely managed by the developer on behalf of the investor, enabling the investor to take a passive role in the project. Investors could also benefit from a further 20% reduction (€280,000) if the renovation project is located in an area with a low-density population. Projects which qualify for this are much harder to come by but La Vida can also assist with this route.

For more details on the programme, please contact our specialists.