Portugal’s Golden Visa Scheme started in 2012 but has recently seen changes to the scheme that enables foreigners to reside in either country with their families for a relatively small property investment.
This has also enabled Portugal to become much stronger economically. The scheme is aimed at people living outside the EU who want to live, see and travel through Europe freely, no restrictions on visiting permits or short stay visas.
In Portugal, you can enter the Golden Visa Scheme with an investment amount of €280,000 for a property that’s more than 30 years old or €400,000 for a new hands-off investment property. After five years, you and your immediate family gain citizenship in Portugal also giving you the freedom to travel around Europe. From when you first apply, you can travel freely through the Schengen scheme.
Up to now, this has not been available for UK residents but, with Brexit, it is now available only for a short window of opportunity, that’s why right now is the time to buy!
Time is running out as the Portuguese government has announced that the golden visa in its current form will be retracted in June/July 2021.
In Portugal, it has recently been announced that the Golden Visa will change on July 1, high density areas will no longer have the scheme, this includes Lisbon, Porto and possibly the Algarve as the population will no longer be classed as low density. The low-density areas will see an increase on entry level.
All applications up to June 31, 2021, will be accepted, not leaving much time to find your property and complete deed, so it is recommended you move quickly with an agent and lawyer who are experts and deal with Golden Visas on a regular basis.
They will be able to advise you and help you move quickly with the purchase elements. Ideally, you need to have found a property by the end of April at the very latest to be able to have everything in place by June 31.
This is also now available to UK purchasers, so they can obtain freedom in Europe and citizenship in very much the same way. So, let the experts at Ideal Homes help you get your second passport today.
To learn more on Portugal’s Golden Visa get in touch with the experts over at Ideal Homes International where you can find out what to do every step of the way, you will be introduced to Portuguese lawyers that are Golden Visa experts.
You can send them an email on [email protected], call them on +351 289 513 434 or if you’re in the UK, their freephone number 0800 133 7644. Alternatively, you can head over to their site www.idealhomesinternational.com