Portugal's Golden Visa (GV) programme remains one of the most popular and sought-after citizenship by investment options globally. And for good reasons — Portugal offers a well-balanced mix of history, culture, gorgeous vistas and high technology. It is, as per the Global Peace Index 2020, the third-safest country in the world. Moreover, a Portuguese passport empowers you to travel to over 180 countries without needing a visa.
The GV programme, which has already brought in more than €5.6 billion since its introduction in 2012, has also been hailed as the simplest and most economical doorway to citizenship in the European Union.
But this year, the GV programme is set to be tweaked, as the government takes high-density areas off the table for property investment. Join Gulf News’ webinar on Sunday, February 7 from 7pm-7.45pm in association with investment migration experts Savory & Partners to find out how you can take advantage of the current pricing structure.
GV calls for an investment of €500,000 (Dh2.2 million) in newer properties in Portugal, or €350,000 if the property is over 30 years old and renovated. But this cost comes down to just €280,000 if you opt for a property in low-density areas. The entire process takes just 3-6 months, and you can opt for citizenship five years later. During this period, you are required to spend only seven days in Portugal in the first year, and 14 days in the subsequent years.
Window of opportunity
The good news is that the changes come into effect only from July 1 this year giving you the window of opportunity to still snap up coveted properties in places such as Lisbon, Porto, the Algarve or the Silver Coast.
After July, you will need to scout the rest of Portugal for investment in real estate. Or look at alternative routes like venture capital, investment funds or a capital transfer of €1 million to acquire a GV.
To help you understand the upcoming changes, answer all your queries, and work out the optimal route for you, Gulf News’ webinar brings together experts from the residency and citizenship sector, property market and media. Titled Residency and Citizenship in Portugal, the webinar will discuss the dynamics at play as the Portuguese government looks to attract more foreigners, along with the benefits that come with investing in Portugal.
Some of the key topics that will be tabled are:
• What makes Portugal the most attractive EU destination amid the pandemic?
• The details of the Golden Visa and its success to date
• Updates on new government pricing announcement
• 2020 data and trends
• Overview of 2021 real estate market and forecasts for the year ahead
The experts participating in the webinar include Jeremy Savory, CEO & Founder of Savory & Partners. His firm has successfully processed more than 1,100 applications from families and individuals, and caters to a diverse clientele of members of ruling families, vice presidents of FTSE 100 companies and ultra-high-net-worth individuals. Joining him will be Duarte Norton dos Reis, General Manager at the real estate firm BWA GROUP and Christian Henrik Nesheim, Founding Editor of Investment Migration Insider. The moderator for the session is Eithne Treanor from Gulf News. Their presentations will be followed by rounds of Q&A, where the industry stalwarts will address your queries and impart insights.
Register now to find out why Portugal has been described as Europe's best kept secret.