How can investors sell their property they used to get the golden visa in Portugal without jeopardizing their residency status?

Answers

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  Tiago Gali Macedo

  NEXT/Gali Macedo & Associados

  October 14, 2021

  According to the law, from November 5, golden visa holders must keep their investment for a mandatory period of 5 years, counting from the moment they obtained their first residence permit. The law does not specify if or how can a golden visa holder sell the property during the period they benefit from the golden visa status. Given this scenario, we recommend our clients to buy another property before they sell the former one so they are never without investment in Portugal and, therefore, never risk losing their golden visa status. Investors must always bear in mind that the new investment must be done in the same way as the first one, meaning, the capital to be invested must come from abroad into a bank account in Portugal.

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  Tiago Gali Macedo

  NEXT/Gali Macedo & Associados

  October 11, 2021

  Since the Golden Visa residence program rules require one to keep their investment in Portugal for 5 years, it is not possible to sell after just a year as you’ll jeopardize your residence status. You can, however, buy a new property in Portugal while you still own the previous one and, afterwards, sell it, as long as you maintain the initial investment amount that you spent when first applying for the residence. The main point when switching investments is that at all time during the 5 years, you have to own a real estate worth as much as your initial investment. Otherwise, your residence requirements will not be fulfilled and you will jeopardize its status.

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  Barbara Pestana

  PaxLegal Law

  October 12, 2021

  Investors can sell their properties without jeopardizing their Golden Visas, but the operation must be carefully driven. Such properties can be sold provided that the value of the prior investment is maintained. Also, the purchase and sale of the two properties (initial and the new) must take place almost simultaneously so as to not endanger the principle of the continuity of the investment's maintenance for 5 years. I would recommend to carry out this operation with the guidance of an experienced immigration attorney.

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  Diogo Capela

  Lamares, Capela & Associados, Sociedade de Advogados

  October 15, 2021

  You can acquire another property, however, it is necessary that you prove the investment during your 5 years of temporary residence never drops. Therefore, I would suggest that before the sale of the current property, you sign a deed for the property in which you now intend to invest in, which must be of the same value or even higher than the one you purchased before.

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  Sara Sousa Rebolo

  Prime Legal

  January 06, 2022

  It is possible to change the real estate asset during the Golden Visa period. The safest option would be to use foreign capital in the new acquisition and conclude the transaction before the day of the original asset sale.