Investment in luxury property in the Algarve is on the rise and many foreign investors from around the world are looking to take part in this long-term trend to offer luxury holiday rental properties to those visiting or relocating to Portugal. But unless you're a citizen of the European Union or the Schengen area, making investments in Portugal may seem slightly daunting. However, you don' t need to let the potential of such an investment fade away; with the introduction of the Golden Visa, Portugal has made the lives of foreign investors much easier and financially very beneficial.
Though it's technically not a visa, the Golden Visa will allow foreign investors to buy and reside in Portugal and benefit from favourable tax advantages. It's aimed at those who do not fall under the EU or Schengen area umbrella.
And why does Portugal allow visa residents to outsiders? It's simple - they're supportive of foreign investment and understand that allowing such a permit will encourage economic growth.
As a holder of the Golden Visa, you'll not only be permitted to stay in Portugal, you'll be welcomed to invest in some of the many great value luxury properties for sale. Additionally, if you uphold the conditions of the permit, you may also eventually be eligible to apply for Portuguese citizenship.
The Golden Visa programme was introduced by the Portuguese government in October 2012. Quite simply, it is a fast track method for non EU residents to obtain a fully valid Portuguese Residency via investment in Portugal. There are 3 main investment options:
Spend at least €500,000 on a property
Create 10 employment opportunities in Portugal
Invest in a minimum value of €1 million into the Portuguese market
The benefits for non EU residents are great. With the Golden Visa and Portuguese Residency, the entire Schengen area opens up with little to no restrictions on travel within this area. In addition, minimum stays in Portugal to fulfil the conditions of residency are small (7 days in Portugal the first year, 14 days during each subsequent 2 year period).
The Golden Visa is an added attraction for those looking for excellent property investments. Even if you are previously unfamiliar with the Algarve, the quality of the properties, the value of the investment and the benefits of the Golden Visa make buying a property in the Golden Triangle an opportunity not to be missed
The Golden Visa can present big tax and residency benefits to non-EU citizens and been hugely popular since its introduction.
By far the most popular uptake of the Golden Visa has been nationals from Russia, China and South America purchasing properties in the Golden Triangle, Algarve with a value great than €500,000.
At Golden Triangle Real Estate, we don't just simply sell properties; we sell lifestyles and experience. We know the area of the Algarve extensively, and are confident that an investment in one of our many exclusive luxury properties is not just safe, but in a flourishing time like the present, it's highly profitable. And the Golden Visa is your ticket to doing so.
For more information about the Golden Visa, buying property in Portugal or to discuss any of the properties seen on our site, get in touch with us now and we'll be happy to chat.
There's no doubt about it - if you're looking for the ultimate holiday home or luxury property to rent out, there's no better location..