[Residency UPDATE: On December 22, 2020, the Portuguese government announced the end to the Golden Visa program in the Algarve and coastal cities like Lisbon and Porto. Investors have until July 1, 2021 to take advantage of the current program.]

The Golden Visa Program in Portugal has proven to be the most popular scheme in Europe with Investors attracted to its ease and flexibility to obtain along with all the benefits it provides.

The visa program was launched in 2012 and has been promoted by the government as an investment in to real estate, there are several ways to obtain the visa with the most popular being an investment of 500,000 € in to a freehold property in Portugal. There are reduced versions of this at 350,000 € and 280,000 €, however there is certain criteria that must be met.

The visa allows you and your dependant family (Children & Parents) to gain a residency permit in Portugal for 12 months and is then renewed on a 2 yearly cycle. To qualify for renewal you simply have to spend a minimum of 7 days in Portugal per year. This visa will allow you to travel freely across Europe within the Schengen Zone.

The most attractive part of the visa is that after 5 years of title you can then apply for permanent residency and citizenship in Portugal with an EU passport.

The basic requirements to qualify is the initial investment, a clean criminal record and the ability to spend a minimum of 7 days in Portugal each year, without the need to reside in Portugal this visa has become the most attractive and popular option across Europe. 

The most popular area for investment in Portugal is in the Historical Centre of Lisbon. Areas such as Baixa, Chiado, Principe Real, Cais do Sodre and Santa Catarina are seeing continued growth and re investment by the government.

The property market in Lisbon at the moment is very buoyant and in the historic center there has been a huge amount of re-development over the last 4-5 years that will continue for the foreseeable future.

One of the big attractions for investors is the returns from rental, as tourism in Lisbon has grown from 6 Million per year to over 12 Million since 2006, with figures in 2018 up around 15%.

The Airport is now at capacity with over 24 million passing through it in 2016 and the government are trying to quickly push through a second airport to be finished by the end of 2020 to help lighten the load and allow more flights and routes in to one of the fastest growing tourist destinations in Europe.

Please feel free to reach out to John Zolikoff if you would like to learn more about opportunities in Portugal for you or your business. I"m happy to book an exploratory call.