Introduction
Portugal’s Golden Visa program offers many benefits to foreign buyers looking to invest in Portuguese property. But what is the process for buying a Golden Visa property in Portugal? In this article, we'll walk you through the steps of finding and purchasing a Golden Visa property in Portugal, from start to finish.
What is a Golden Visa Property?
A Golden Visa Property is a property that gives the owner a residency permit in Portugal. The property must be worth at least €500,000 and must be bought outright – it cannot be bought through a mortgage. The visa allows the owner and their family to live in Portugal and travel freely within the Schengen Area. There are many benefits to owning a Golden Visa Property, but the main one is that it gives you the opportunity to live in one of the most beautiful countries in the world.
The process of buying a Golden Visa Property is relatively straightforward. You will need to engage a lawyer who specializes in Portuguese real estate law to help you with the purchase. Once you have found a property that you wish to purchase, your lawyer will help you to negotiate the price and draw up the necessary paperwork. Once the paperwork has been signed, you will need to pay a deposit of 10% of the purchase price. The balance of the purchase price will then be paid on completion of the sale, which typically takes place within 2-3 months.
Once you have completed the purchase of your Golden Visa Property, you will need to apply for your residency permit. This can be done through your local Portuguese consulate or
Portugal's Golden Visa Program
The Portuguese Golden Visa program is one of the most popular residency by investment programs in Europe. Launched in 2012, the program grants residency to non-EU nationals who invest a minimum of €500,000 in Portugal. The Golden Visa can be renewed every two years and leads to Portuguese citizenship after five years.
The program has been hugely successful, attracting over 9,000 investors from all over the world. In 2019 alone, investment through the Golden Visa program generated €3.2 billion for the Portuguese economy.
If you're considering applying for a Portuguese Golden Visa, here's what you need to know about the buying process.
First, you'll need to choose an eligible property investment. This can be either a residential property worth at least €500,000, or a commercial property worth at least €350,000. You can also invest in a portfolio of properties worth a minimum of €500,000.
Once you've found an eligible property, you'll need to sign a purchase contract and make a deposit of at least 30%. At this stage, you'll also need to provide proof of funding for the remainder of the purchase price.
The Buying Process for Golden Visa Properties in Portugal
Are you looking to invest in a Golden Visa Property in Portugal? If so, you'll need to be familiar with the buying process. In this blog post, we'll outline the steps involved in purchasing a Golden Visa Property in Portugal, from start to finish.
The first step is to find a suitable property. You can search for properties online, or work with a real estate agent who specializes in Golden Visa properties. Once you've found a few potential properties, it's time to start the negotiation process.
Next, you'll need to obtain a mortgage pre-approval from a Portuguese bank. This will give you an idea of how much you can afford to spend on a property. Once you have your mortgage pre-approval in hand, it's time to make an offer on a property.
If your offer is accepted, the next step is to sign a purchase contract and pay a deposit. Once the contract is signed, you'll have a set period of time - typically 30 days - to arrange to finance and complete the purchase. If everything goes smoothly, you'll be the proud owner of a Golden Visa Property in Portugal!
Eligible Properties for the Golden Visa
There are several types of properties that are eligible for the Golden Visa program in Portugal. These include:
-Primary residences
-Second homes
-Investment Properties
-Properties for rent
Each type of property has its own set of requirements that must be met in order to be eligible for the Golden Visa. For example, primary residences must be purchased for a minimum of €500,000 and must be located in Portugal. Second homes must also be purchased for a minimum of €500,000, but can be located anywhere in the European Union.
Investment properties must be purchased for a minimum of €1,000,000 and must be located in Portugal. Properties for rent must be purchased for a minimum of €350,000 and must be located in Portugal.
Conclusion
The golden visa properties Portugal 2022 program offers a great way for investors to gain residency in the European Union. The process is relatively simple and straightforward, and there are many reputable real estate agents that can help you find the perfect property. If you are considering investing in a golden visa property, Portugal is an excellent option to consider.
