BUYING REAL ESTATE IN PORTUGAL AND GETTING A RESIDENCE PERMIT: WE ANSWER THE MOST POPULAR QUESTIONS

Yes, foreigners can buy real estate in Portugal and invest in business projects.

The procedure for buying real estate is the same for everyone, regardless of citizenship.

To apply for a residence permit card, applicants choose one of seven investment options. Among them are the purchase of real estate, investment in business, contribution to scientific and cultural projects.

Five years after obtaining a residence permit, the investor and his relatives have the right to apply for permanent residence or citizenship. However, there is no need to live in Portugal permanently. To maintain the status of a residence permit, it is enough to spend only 7 days a year in the country.

Most often, investors invest in real estate. There are several options, the most popular of which are:

• purchase of real estate older than 30 years with subsequent restoration in the amount of 350 thousand euros. If the object is also located in a sparsely populated area, its cost can start from 280 thousand euros.
• investments in commercial real estate (buying a share in a tourist facility, for example, a hotel unit) in any region of Portugal from 350 thousand euros;
• purchase of new real estate in the amount of 500 thousand euros.

Real estate prices in Portugal are among the fastest growing in all of Europe: the price per square meter is growing on average by 2% every quarter!

Buying property in Portugal - you get a very liquid asset!

The dynamics of prices for Portuguese real estate is ahead of the dynamics of the EU as a whole. Since 2010, the cost of housing in Portugal has increased by 75%, and in the European Union - by 48%.

The average cost per square meter of housing in Portugal as of December 2022 is 2415 euros.

The price per square meter strongly depends on the region of Portugal: the most expensive housing is located in large cities - Lisbon and Porto, as well as in the resorts of the country.

Average cost per square meter by region:

• Lisbon €3,812 (+4% compared to 2021)
• Faro €2,981 (+16% compared to 2021)
• Porto €2,382 (+5% compared to 2021)
• Madeira €2,312 (+23% compared to 2021)

• Stamp duty - 0.8% of the property value
• Transfer of ownership tax (IMT) - from 0% to 8% of the value of the property, depending on the value of the object (if the value of the object is from 287 thousand euros to 574 thousand euros, IMT is 8%)
• Real estate tax (annual) - 0.3-0.8% of the cadastral value of real estate
• Tax on rental income if the owner rents out the property - 25%
• Fees and services to accompany the receipt of the "Golden Visa" (permit)
• Medical insurance - from 400 euros per person
• Translations and certification of documents (certified translations and certification of documents by a notary) - 300 euros + 300 euros
• SEF (fee when submitting documents for consideration to the Foreigners and Borders Service) - 540 euros

• TIN (Portuguese TIN and guarantee for one year) - 400 euros
• Bank account (preparation of documents, escort to the bank, correspondence with the bank, process support) - 1000 euros
• Golden Visa Investor application process (consultation, preparation and submission of documents to the immigration service, process support) - 4000 euros
• The process of applying for a Golden Visa for a family (preparation and submission of documents, support) - 1000 euros,
• Extension: for an investor - 1000 euros, for a family - 500 euros.
• Golden Visa card (fee upon approval of the process) - 5,391 euros

All foreigners have the full right to study in public schools in Portugal and there are no restrictions. The child will be accepted even if he does not speak Portuguese

They also offer free extracurricular activities.

In public schools, education is free, parents only pay for meals and extended classes.

Medical services included in the list of mandatory services are free for residents of Portugal. Non-citizens of the country who have a residence permit, along with citizens of the country, have the right not to have free medicine.

To do this, you need to make contributions to the Social Security Fund. The amount of deductions depends on the amount of income.