In addition to the golden visa scheme for Spain, La Vida also operates in Portugal ( La Vida Portugal ) for investors looking to acquire properties to qualify for a residency visa and potentially future citizenship.
The programme is similar to that in Spain but there are some key differences that investors should be aware of before making a decision on either country.
Both countries are well connected to the rest of Europe. Climates can differ depending on area and both offer a range of property and lifestyle options from cities such as Lisbon, Barcelona, Madrid to coastal options such as the Algarve and Costa del Sol for beach and golf resorts.
Key points Golden Visa Portugal
- Minimum investment of €500,000 in property or land
- First €500,000 can not be mortgaged
- Visa is granted quickly after application
- Residency is available for immediate family
- Visa must be renewed first year then every two years thereafter
- Investor must spend a minimum two weeks in the country each year
- Stay does not need to be in the property (if rented for example)
- After five years permanent residency can be gained
- After six years can apply for citizenship
The programme in Portugal is 12 months further advanced than Spain. It came into law in 2012 and several hundred visas were issued by the Portuguese authorities in the first 12 months.
There has been a lot of demand from China but also Russia, the Middle East and Africa.
Prospective buyers should think carefully about their investment and location. Lifestyle considerations such as whether you intend to live in the country or travel frequently are important in deciding where to invest either within Portugal or Spain for the residency visa. Transportation links may be important, likewise schools, or even languages (for example is English prevalent in the area). This may determine whether buyers seek a coastal property, a resort or a city. If the goal is future citizenship then which investment offers the quickest route. And which investment offers the best exit plan on citizenship when it is then possible to live, work and study anywhere in the EU including the UK for example.
All of these considerations are important in defining the strategy for the investor to acquire the golden visa wherever they decide to buy. La Vida will help in these decisions. We have over ten years experience helping buyers acquire international property in Spain and now Portugal. Invaluable experience that will enable investors to make the right decisions.
We will also ensure you gain independent legal advice through lawyers experienced in dealing with the golden visa applications in either Spain or Portugal.