I am a 36 year old professional and my mother is 72. Is it possible for us to jointly buy property in Portugal and both receive the Golden Visa? My mother is not dependent on me. If it was in my mother’s name, would she need to apply for a dependent visa for me after hers was issued?
Whether or not they are members of the same family, two investors can jointly own a single property. In this specific case, mother and son, being both investors, can buy the same property, as long as each one meets the minimum amount requirement under the law for golden visa purposes.
Investments for the golden visa program in Portugal can be performed in a co-ownership regime; it is possible for you and your mother to apply for it, provided each of you invest the minimum legally foreseen amounts of investment. These amounts are as follows, depending on which kind of real investment you intend to perform: the purchase of real estate worth at least 500,000 euros; purchase of property built more than 30 years ago or located in urban regeneration areas, for refurbishing, worth at least 350,000 euros; there is a 20% reduction if the investment is made in a low density territory. By performing the investment, both you and your mother would be entitled to an independent residence permit. Should the investment be performed solely by your mother, she would be able to apply as the main investor, and you would be able to apply under the family reunification rules, which would grant you a residence permit whose issuance would be dependent on your mother’s.
Family members can jointly invest in property to obtain the golden visa; however, the amount of the investment needs to be twice the investment made by just one person. This means that for the 500,000 euros option, you would need to invest one million euros, for the 350,000 euros option you would need to invest 700,000 euros. Since you are independent and you are older than 18, the investment needs to be in both your names since you cannot apply for a dependent visa.
Yes. The Portuguese law allows investors to apply based on co-ownership if each of them fulfills the minimum amount of investment as foreseen in the law. For instance, in the case of a standard property in Lisbon, each one of the investors must invest at least 500,000 euros.
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