Buying Property in Portugal to get Citizenship: discover what only the top, expert visas & immigration lawyer in Portugal know about buying property in portugal to get citizenship
Buying property in Portugal is one of the accepted forms of investment for making an application for a residence permit in Portugal.
With this investment you do not need to reside in Portugal to apply for Portuguese citizenship, it is enough to maintain the investment for 5 years to be able to apply for Portuguese nationality.
Amount of the investment:
The minimum that an applicant for a residency permit is required to invest is €350,000 in a property that is over 30 years old, suitable for renovation.
The interesting thing is that the global investment has to be at least 350,000.00. In other words, it includes the price of the property and the costs of renovation.
Looking at this from another aspect – tax: all of the capital spent on renovating the property can be deducted from the capital gain when you decide to sell the property. With this you can add more value to the property by paying less tax!
Why to invest now:
Another important point, despite government guidelines, investments for golden visas are not yet banned in Lisbon and Porto. Also, property prices are currently at a low ebb as a result of the impact of Covid-19, so this could be a particularly good time to make an investment in property in Portugal, in metropolitan areas, with a view to obtaining a residency permit in the European Union, and even to eventually make a profit on your investment.