Portugal travel objectives, real estate options and Visa for Europe? Why live and invest in Portugal ? Because is one of the major touristic attractions of Europe and the perfect retirement home! Keep in mind that real estate brokers in Portugal work for the seller. They are in a conflict of interest situation. Their commission is included in the sales price. Real estate brokers are strongly motivated to sell properties for as much as possible. Dishonest brokers are widespread. The risk of encountering an overpriced transaction is imminent. Saving money by not engaging a lawyer can cost you a fortune at the end of the program. You need a local matador who is familiar with the real estate market because the demand for real estate is huge. You need somebody on the spot acting in your exclusive interest.
Usually, you complete the application through your lawyer, and it can take up to 6 months for approval. It is technically possible to do everything on your own, but I wouldn’t recommend it. If you want to bring along your family members, their application is submitted simultaneously. A processing fee of €532.70 is paid for the first applicant and €83.10 for each of the remaining family members. When your application is approved you pay an approval fee of €5,274.40 for each applicant. After ten to twenty days, you should receive your residency card valid for one year.
In order to be eligible for the scheme you must conduct an investment activity either as an individual or a company set up in Portugal or another EU Member State, meet the time requirements above and do one of the following: Purchase real estate property to refurbish that was constructed more than 30 years ago or located in an urban regeneration area and with a value of at least 350,000€ (three hundred and fifty thousand euros) or 280,000€ (two hundred and eighty thousand euros) for the Algarve, Make a capital transfer of at least 1,000,000€ (one million euros), Create at least 10 job positions. See additional details at https://www.idealhomesinternational.com/services/golden-visa-portugal-residency-portugal-property-for-sale-portugal-real-estate-portugal_458.
While the program has benefited more than 6,500 foreign investors so far, it has also been beneficial for the Portuguese economy. As of this writing, the total investment into Portugal as a direct result of the program has reached a whooping €4,851,321,701. That’s almost five billion euros. That’s great news for prospective investors, as the program has broad support from nearly all political parties in Portugal. While a conservative government introduced the program in 2012, the current socialist coalition government has even expanded the program since seizing power at the end of 2015.
As well as being able to experience the Portuguese lifestyle for yourself, the Golden Visa scheme will also provide you and your family with the opportunity to explore the rest of Europe and discover all that it has to offer. Those enrolled in the scheme will benefit from the following: Low minimum stay periods (7 or more days in first year and 14 or more days in subsequent years). After 5 years you will have the possibility of obtaining permanent residency or citizenship and a Portuguese passport. Read extra details at https://www.idealhomesinternational.com/.