Buying property in Portugal: Does it qualify for the Golden Visa?
It made headlines in various media outlets: Prince Harry and his wife, Meghan Markle, had reportedly visited Portugal with the intention of buying a house. The couple's ultimate goal, it emerged, was to apply for the Golden Visa, and through that route, obtain European citizenship.
But is it possible to obtain this visa by purchasing real estate in Portugal? Let's examine that.
British interest in Portugal
The Duke and Duchess of Sussex were indeed in Portugal, specifically in the beautiful Alentejo region, visiting a cousin of Harry's who lives there.
The coast of the place, media outlets reportIt is very similar to that of California, where the couple currently resides.
That wouldn't be the only reason to buy a house there. After Brexit, both the royals and their subjects lost the benefits of European citizenship.
On the other hand, Meghan Markle never acquired British citizenship and travels with an American passport. Obtaining a Portuguese passport would allow her to pay less in taxes.
Is real estate investment compatible with the Golden Visa?
The answer is no. That type of investment is no longer eligible for this program. The main option is... Investment funds, whose minimum amount is EUR 500.000
There is also the option of contributing 500.000 euros for scientific and technological research activities, or 250.000 euros in support of artistic production or the maintenance of cultural heritage.
Real estate transactions could be eligible for the Golden Visa in Portugal if carried out through an investment fund, but not through direct acquisition.
Portugal is more than a “golden visa”
So why buy a house in Portugal? Firstly, because it's one of the British's favorite destinations, with its beautiful landscapes and beaches, its climate, and the friendliness of its people.
In Meghan and Harry's case, they have also cited security reasons for not remaining in the United Kingdom. Portugal would allow them to be close to their family, but in the comfort of their home in the Alentejo region.
On the other hand, in addition to the disadvantages of Brexit, there is the end of the "non dom" tax regime in England, which allowed "non-domiciled" people to pay taxes only on income earned in the United Kingdom.
This benefit ends in 2025 and has been the reason why many English people are looking for ways to pay less tax; for example, by taking advantage of the benefits offered by Italy and Portugal.
Portugal offers stability and a high quality of life at a lower cost than other European countries. Furthermore, it is transforming into a major technology hub for Europe.
At AIM Global we help you 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'd be happy to help you find the one that best suits you.
You can choose the Golden Visa, But you can move or create your company in Portugal. You can also live temporarily as digital nomador simply live your retirement here.
In all these cases, our team is at your service. Don't hesitate and Schedule a meeting Join us. We are experts in international mobility.
