It made headlines in various media outlets: Prince Harry and his wife, Meghan Markle, are said to have visited Portugal with the intention of buying a house. The couple’s ultimate goal, it’s reported, would be to apply for a Golden Visa and, through that route, obtain European citizenship.
But is it possible to apply for this visa by purchasing real estate in Portugal? Let’s discuss this topic.
The interest of the British in Portugal
The Duke and Duchess of Sussex are indeed said to have been in Portugal, specifically in the beautiful Alentejo region, visiting a cousin of Harry who lives there.
According to media reports, the coast in that area is very similar to that of California, where the couple currently resides.
There would be more than one reason for them to buy a house there. After Brexit, both the royalty and their subjects lost the benefits of European citizenship.
Moreover, Meghan Markle never acquired British citizenship and travels with a U.S. passport. Obtaining a Portuguese passport would allow her to pay fewer taxes.
Is real estate investment compatible with the Golden Visa?
The answer is no. This type of investment is no longer eligible for this program. The primary option is investment funds, with a minimum amount of EUR 500,000.
There is also the option of contributing 500,000 euros to scientific and technological research activities or 250,000 euros to support artistic production or the maintenance of cultural heritage.
The real estate business could be eligible for the Golden Visa in Portugal if done through an investment fund, but not through direct acquisition.
Portugal is more than just a “Golden Visa”
So why buy a house in this beautiful country? Firstly, because it is one of the favorite destinations for the British, with its beautiful landscapes and beaches, its climate, and the friendliness of its people.
In the particular case of Meghan and Harry, they have also mentioned security concerns as a reason not to stay in the United Kingdom. Portugal would allow them to be close to their family while enjoying the comfort of their home in Alentejo.
Additionally, along with the disadvantages of Brexit come the end of the “non-dom” tax regime in England, which allowed “non-domiciled” individuals to pay taxes only on income earned in the UK.
This benefit ends in 2025 and has prompted many Brits to seek ways to pay fewer taxes, such as taking advantage of the benefits offered by Italy and Portugal.
The Portuguese nation offers stability and a high quality of life at a lower cost than other European countries. Furthermore, it is becoming an important technological hub for Europe.
At AIM Global, we help turn your projects into reality
You don’t need to be royalty to live in this beautiful country. There are various types of visas and investment opportunities, and we would be delighted to help you find the option that best suits you.
You can apply for the Golden Visa, but you can also relocate or create your company in Portugal. You can also live temporarily as a digital nomad or simply enjoy your retirement here.
In all these cases, our team is at your disposal. Don’t hesitate to schedule a meeting with us. We are experts in international mobility.
