Golden Visa rules
Golden Visa, what will I have to spend?
How much money will I have to spend on the property to be able to apply for the Golden Visa?
That’s one of the most popular questions when it comes to any Golden Visa process. How much will I have to spend?
As previously mentioned, in Portugal there are several ways to apply for the Golden Visa.
As we are focusing on the Golden Visa through property investment, you’ll be able to apply for it by purchasing a property worth, at least:
500,000€, no matter where the property is located in Portugal
400,000€, if the above-mentioned property is located in a low-density area
350,000€, for old properties (more than 30 years) or located inside an urban rehabilitation area, considering the need to contract repair works
280,000€, if the above-mentioned property is located in a low-density area
What is repair work for Golden Visa?
Considering that the property is older than 30 years or located inside an urban rehabilitation area, it will probably need some repairs in order to be valued.
Therefore, to apply for this type of Golden Visa the value of the purchase of the property plus the value of the repair must exceed 350,000€.
These property repair works must be proved by a contract, request for prior information or the licensing document.
In this sense, it’s possible to acquire a property for 250,000€ and spend 100,000€ in repair work to apply for this Golden Visa.
What are urban rehabilitation areas?
According to Portal da Habitação, Urban Rehabilitation Areas are:
“delimited areas that, due to the insufficiency, degradation or obsolescence of buildings, of its infrastructure, collective use equipment and urban and green spaces for collective use, namely as regards its conditions of use, solidity, safety, aesthetics or wholesomeness, justifies an integrated intervention, through an urban rehabilitation operation, approved in a detailed urban rehabilitation plan”
These urban rehabilitation areas can be found at the Portal da Habitação website, by clicking here.
What is a low-density area?
Low-density areas are exactly what they look like: places that need to be populated, as there are not enough people living in the region.
These areas are located mainly in the east of the country and are addressed through the Deliberation of the Interministerial Coordination Commission. You can have access by clicking here.
You can view all of the municipalities of Portugal at www.kippertree.com/districts to locate exactly what areas are best for Golden Visa investment.
Please use this link to learn more. Golden Visa Facts
Thanks for reading and see you next time.
Source Vitor Queiroz VIV Europe
VIV EUROPE: OFFICIAL LEGAL PARTNERS OF KIPPERTREE.