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What are my golden visa investment options in low-density areas of Portugal?
I'm an American investor who has never been to Portugal. Where should I invest if I'm looking for good return on real estate investment in the long term?
Answers
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The golden visa integrates several different types of investments among which are: the purchase of real estate property with a value equal to or above 500,000 euros; the purchase of real estate property, with construction dating back more than 30 years, or located in urban regeneration areas, for refurbishing, for a total value equal to or above 350,000 euros; These investment amounts reduce by 20% if it is made in a low density territory. A specific list with all the territories that qualify for this “discount” does not exist. Therefore, before investing, the chosen area must be analyzed in order to understand if it qualifies under one of those requirements. Unlike the residential real estate type investments, where the investment itself is achieved by simply purchasing real estate (minimum investment of 500,000 euros, or 400,000 euros with the 20% discount), the investment in real estate for refurbishing/rehabilitation purposes demands that you not only buy the real estate, but also pay for the rehabilitation works that it must undergo (minimum investment of 350,000 euros – or 280,000 euros with the 20% discount). Any of the above mentioned investments can be performed individually or in co-ownership with other investors, provided the minimum investment amounts are granted by each of them. Regarding this last option, there are a number of promoters and developers in Portugal whose projects are financed this way, and also take care of all the legal procedures before the Portuguese authorities towards your residence permit issuance. As such, we advise this last option as being the best and the most efficient.
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The Portugal Golden Visa Program has several investment options. The most economic option is the 280k EUR investment that comprises the rehabilitation of real estate in low-density areas. These areas are not the same as the interior regions that are valid with the beginning of 2022. The 280k EUR option to get the Portuguese Golden Visa is only available in low-density areas. These areas are designated according to the region's population. If the area has less than 100 inhabitants per 1000 square meters, it is considered a less densely populated area. Another criterion is the gross domestic product per capita, which qualifies a region as an area of lower density if it is below 75% of the average GDP. Favorite low-density regions are Alentejo, Douro Valley, Algarve and Peneda Gerês.
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Six of the eight available options for Golden Visa benefit from a 20% reduction in the minimum amount of investment when located in a low density area. The law determines that low-density territories are those at level III of the nomenclature of territorial units for statistical purposes (NUTS III) with less than 100 inhabitants per Km2 or a per capita gross domestic product (GDP) of less than 75 /prct. of the national average. According to the most recent data the following regions, by having less than 100 inhabitants per Km2, are considered low density: Alto Tamega, Douro, Terras de Tras-os-Montes, Viseu Dao Lafoes, Beira Baixa, Medio Tejo, Beiras e Serra da Estrela, Alentejo Litoral, Baixo Alentejo, Lezíria do Tejo, Alentejo Central, Algarve.
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