Portugal Real Estate Investment
The applicant must make a minimum investment of €500,000 in real estate in Portugal to qualify for the Golden Residence Permit (reduced to a minimum of €400,000 if located in a low density area*).
Alternatively, the applicant may invest €350,000 in properties and their renovation (reduced to a minimum of €280,000 if located in a low density area*), subject to the properties:
- either having been built at least 30 years ago;
- or being located in designated areas of urban renovation;
Low Density Areas
“Low density areas” are the NUTS 3 regions having less than 100 inhabitants per square kilometre or a per capita GDP of less than 75% of the national average.
In practice, this seems to apply to the whole of Portugal with the exception of the coastal areas south of the River Lima and north of the River Sado.
The map opposite (which you can click to enlarge) shows the area that does not qualify as “low density” according to the most recent data supplied by INE, the national statistics institute (2013/2014).
The islands of Madeira and Azores are also excluded from the “low density areas”.
- Location: the investment may be made in any location within the national territory (or through a Portuguese bank in the case of the financial assets route).
- Duration: the investment must be kept for at least 5 years, but the target or type may be varied, subject to prior approval by the border agency.
- Charges (e.g. mortgages): the investment must be kept free of charges, but only in respect of the minimum required amount, there being otherwise no restrictions.
- Structure: the investment may be made privately, whether singly or jointly, or through a company. In the case of a company, this must be a single-member private company, either based in Portugal or in another EU country, in which case it must have a branch in Portugal; and the relevant amount will be that of the paid-in shares in the Portuguese company or else the pro rata of the capital allocated to the Portuguese branch. Under current law it may be possible to invest outside Portugal and/or to register charges against assets only in respect of the investments made by a Portuguese company in which the investor has a minimum of €1 million in fully paid-up shares.
- Real Estate: the property may be of any type (residential, commercial, agricultural, etc), in any number (including part ownership) and whether or not income generating.