An applicant cannot be without an investment during the golden visa period. As such, if you wish to change the investment, the new real estate must be purchased before or at least on the same day as the original one is sold, using foreign capital.
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How can a Golden Visa investor change out an investment in a low-density area in Portugal in case it doesn’t bring a good rate of return?
I'm interested in CBI in Portugal but I don't want to end up investing in a real estate in Portugal that won't give a good return for many years. How can I sell my investment I made for my application and buy another more profitable property without risking my immigration benefits?
Answers
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You can change at any time your investment during your Portuguese residence, assuming that, you comply with all the legal requirements, and contractually you are free to do it.
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Given the legislative changes that came into force on January 1, 2022, we must wait for the publication of its regulation to give a correct answer to the question. In any case, based on past experience and according to the new principles applicable to the golden visa, it must be said that the exchange of investment alone requires the case to be almost simultaneous, in the sense that the sale of the initial investment must be done almost at the same time as the acquisition of the new investment. It is also necessary to know that not all NUTS III low density zones are considered inland territories, therefore, if the investment was made in real estate licensed for residential purposes, the exchange may not be viable. This is a subject that must be seen very carefully and case by case, in possession of all the elements, which in the question formulated are not being provided, and after the regulation of the new regime comes out.
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People who bought a propriety and made an application for a golden visa will not be allowed to sell their investment and make a new one in high-density areas. If they do, they risk their immigration benefits. The only options are to keep the investment or make another one in Portugal’s low-density or lower-populated areas.
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