Portugal has been one of the countries that has best dealt with the coronavirus crisis, thanks to good a health and political management. For this reason, and according to experts, the country is recovering faster than other European countries and, for all this it is a good moment to invest in Portugal.
Another reason to take into account is that, during the months of the pandemic, builders did not interrupt their activity, which has resulted in a lower drop in property sales. In this line, and according to the main experts, the Portuguese real estate sector will return to the pre-covid situation before than other countries affected by the pandemic.
On the other hand, the Portuguese government, aware of the importance of foreign investment for the country’s recovery, has postponed the plans that were foreseen to put some limitations on the tax advantages of the non-habitual resident regime, as well as the Golden Visa program.
Portugal was in the process of updating its Golden Visa programs in 2021, as we had announced some months ago. The changes in the requirements of the Portuguese Golden Visa will encourage international investors to target other areas of the country with low population, rather than in the more popular cities of Porto and Lisbon.
Why invest in Portugal
In recent years, Portugal with Spain, has been placed in the top of countries to invest in the real estate sector. With an excellent quality of life and with very attractive prices, the country is positioned as a great opportunity for international investors. Lisbon, the capital, and Porto are two cosmopolitan cities that compete in rankings with other European cities.
Another area to invest in a second residence or to retire is the Algarve. With wonderful beaches, a mild climate and all services at hand, it is a very interesting option for investors.
Choise the best investment option
If you are thinking to invest in Portugal you have different options. You can invest €350,000 in real estate in urban areas, like in Lisbon and Porto or, if you prefer it, you can invest €280,000 in rural areas. There are other options, but all the investment made under the Portuguese Golden Residence Permit Programme must be maintained for a minimum of 5 years from the date the residence permit is granted.
The process time of the visa is 90 days; however, there are no requirements to live in Portugal in order to obtain the permit. Once you acquire your Portugal Golden Visa, you will be eligible to travel within the Schengen zone without the need of any additional visa.
If you want to invest in Portugal, contact us. Depending on your situation and objectives, we will look for the best option that suits your needs and those of your family. If you are looking for a good quality of life, Portugal is a very good option.