Portugal’s reduced €350,000 golden visa attracts more investors

Portugal’s reduced golden visa investment from 500,000 euros to 350,000 euros has attracted more investors applying for golden visa programme.

Investors can buy more than thirty year old refurbished properties for 350,000 euros outside Lisbon (such as Algarve) and can qualify for a residence permit under the golden visa scheme. For buying properties in Lisbon, a minimum of 500,000 euros is required.

Over 99% of investors chose property investment as an option.  It will also be possible to qualify for golden visa by investing 350,000 euro in the incorporation of new companies or in the share capital of Portuguese companies creating five permanent full time jobs in Portugal

Property buyers in Lisbon face extensive golden visa delays are subjected to wait for upto 3 months for appointment with SEF, whereas there are no waiting times outside Lisbon.  Rival countries offering golden visa schemes such as Malta, Cyprus, Greece,  eager to attract frustrated investors with Portugal.

Irish times, reported Lisbon reverses property fortunes to become a hot spot for investors.

According to SEF golden visa statistics July 2017, Golden visas issued to Chinese, Brazilians and South Africans

  • China – 3472
  • Brazil – 432
  • South Africa – 201
  • Russia – 179
  • Lebanon – 103

The Global Peace Index ranks Portugal as the third safest country in the World.

 

Photo credit: https://www.flickr.com/photos/djandywdotcom/



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