The end of Portugal's Golden Visa Program?

Portugal boasts an excellent reputation and is considered one of the world’s most globalised and peaceful nations, with a high quality of life and a very high Human Development Index ranking. It is among the oldest nations in Europe with a rich history, lively culture, exceptional cuisine, stunning beaches, and idyllic countryside.

The Portuguese Golden Visa Program was put in place to bring successful projects in Portugal to overseas investors. Starting as early as October 2012, this program has allowed almost 10,000 people to take part who want to establish residency. There are several investment opportunities starting at 280k Euros that give you a chance of becoming a citizen after five or six years provided you visit only 7 days per year.

No other European Union country comes close in terms of safety and cost of living - Portugal is ranked number three out of the 163 countries evaluated by global peace index with excellent infrastructure, climate and education system.

Last week, Portuguese Prime Minister Antonio Costa publicly announced his intention to abolish Portugal's Golden Visa program - sending shock waves through the country's tourism and finance industries.

The prime minister went on to clarify that no formal announcements will be made until after a thorough evaluation has been conducted. So far, there are few indications about what might happen if or when the government does decide to go ahead with scrapping the policy altogether.

This means anyone who applies for one of these visas before they're abolished may still qualify. It doesn't matter whether you've put down a deposit or not; it pays to start researching as soon as possible - even if you're just looking into getting something set up so you can come back later and apply later this year.

If you've been 'on the fence' on whether to move your future family overseas for a Golden Visa - now is the time. Let The Lakhani Group help you make this application before the opportunity is gone.

Options for investment

1. Portugal Golden Visa €280k option is to attract investment and development to the less accessible and more remote areas of the country. In these beautiful parts of Portugal, there is great potential for capital appreciation, particularly in regions that are likely to become more tourist-heavy in the future, such as Alcácer do Sal. Wyndham Gardens (280k - 30k upfront yield, no IMT, no VAT, no IMI during construction) a 4-star Wyndham Garden Hotel, located in the historic center just a few meters away from the Sado river is a perfect example.

2. Alternatively the Golden Visa applicants can access the program by investing in an Investment Fund with minimum value of €500k exposed to the real estate market, typically low to medium risk profile and accordingly low to medium expected returns like, 7x Portugal Fund Venture Capital Fund - Approved by Portuguese Securities Commission (CMVM) Our fund is managed with the market knowledge to manage an individual’s investment portfolio and maximize the investors’ equity stake.

3. And lastly any touristic property (or combination of properties) costing at least €500k will also let you and your family qualify for a Golden Visa program. Wyndham Residences (qualifies for Golden Visa Program option - 500k plus freehold plus appreciation), a Luxury Touristic Development in a gated community, in a natural and country like setting, with all the commodities of city-life, sporting and leisure facilities, is one such example.

Clients looking for more information, can directly request a meeting with one of the partners of The Lakhani Group Portugal

About the Lakhani Group Portugal

The Lakhani Group Family Office are real estate developers since 1983 with a large portfolio of assets in India, Canada, USA and now in Portugal.

TLG focuses greatly on the notion of community service and is a great contributor to re- settlement services for many that are new to Portugal. Recently the family office has celebrated a partnership with Wyndham Hotel and Resorts. It has a portfolio of over 22 hotel brands, including Baymont, Days Inn, Howard Johnson, La Quinta, Ramada, Super 8, Travelodge, and Wyndham, with 9,280 locations.

The Lakhani Group provides an all in one solution, starting from real estate investment option assuring solutions for all legal steps, banking services, tax optimisation and property management.