Portugal’s golden visa scheme offers EU residency and an attractive return on investment.
Following a tough few years due to the Eurozone economic fallout, Portugal has bounced back and is revelling in its success, with record revenues in its tourism sector last year, bringing in €2.5 billion ($2.8 billion) in hotel revenues alone.
Since October 2012, wealthy foreign investors have flocked to one of Europe’s oldest countries to obtain a Portuguese residency permit to profit on a secure and fast developing market, with access to the entire 26-country Schengen zone.
The success story of a crushing economy
Even for a country of such luminosity, radiance and culture, Portugal has had its fair share of dark times. After a crushing economic crisis, the Portuguese government is resurrecting its stagnant property market by initiating the golden visa program. “Economic growth continues to accelerate with real estate investors reclaiming and renovating the unoccupied buildings that adorn the streets of Portugal and revitalising the blissfully elegant shores of the Atlantic ocean,” says Mario David, member of the board of advisors for Arton Capital, a global leader in residency and citizenship solutions.
According to the Arton Index—the industry benchmark to compare and assess different investor immigration programs— Portugal’s scheme scores a total of 54 points and ranks the highest for global mobility and quality of life among Europe’s residency programs, such as those in the UK, Hungary and Bulgaria. The main benefits of the program are a low property investment level, fast processing and a minimal requirement for residency.
Portugal’s golden visa became so popular among third country nationals that legislators had to reorganise the scheme and introduce more investment options.
In July last year, the Portuguese government introduced a new and more streamlined investment solution to open doors for more investors. Portugal’s residency permit can now be acquired in exchange for an investment of just €350,000 ($396,000) in property more than 30 years old. This will allow for the regeneration of Lisbon and Porto’s city centres, which are some of the most visited cities in the world.
Property investment with guaranteed returns
Casa de Campainha is the renovation of a palatial house located in the heart of Porto’s ancient city centre and guarantees investors a four per cent annual rental return with an easy and flexible exit strategy. Construction on the emblematic building, which was built in the 18th century, is set to begin in June to revamp the property as luxury residences containing 27 beautifully decorated suites, a health club and spa, indoor and outdoor swimming pools, bars, restaurants and a number of high-class facilities for guests.
Arton Capital is the exclusive agent in the Middle East offering this historic project to investors. The capacity is limited to 32 investors, all of whom must be co-owners of the entire property and will not only have the right to become a citizen of the EU but will also receive an ownership certificate. All 32 shares can be sold individually at any time.
Fast track to EU residency and citizenship
After five years, investors and their family members become eligible for permanent residency in Portugal and qualify for EU citizenship one year later, making the golden visa one of the fastest and most transparent residency-by-investment programs in Europe.
With more than 300 years of history, Casa de Campainha will reopen its handcrafted wooden gates to guests in late 2017. This new investment option proposes a rare and attractive opportunity to non-EU nationals to obtain the residency permit of an EU member state at an affordable price, with an almost guaranteed profit.
According to the updated official data of SEF, since October 2012 Portugal has issued 3,165 residency permits for investors; 2,991 of these by the acquisition of real estate, and more than 4,841 for their family members.
The total amount of investments has exceeded €1.9 billion with more than €1.7 billion by the purchase of real estate property; with most investors from China, Brazil, Russia, South Africa and Lebanon buying luxury second homes and summer houses.