Tag: portugal

Madonna Invests for Portuguese Golden Visa

October 17th, 2017   •   Investment, Real Estate   •   Comments Off on Madonna Invests for Portuguese Golden Visa   

Sintra, Portugal Queen of Pop Madonna has been very vocal on her social media pages recently about her move to Portugal and her Golden Visa application. The pop star has invested in an impressive property in Sintra, Portugal, which was formerly a palace. The property investment is reported to have cost her €7.5 million euros and is currently undergoing renovation works. Whilst she waits for her new home to be completed, Madonna has been staying in the highly luxurious presidential suite of the Pestana Palace hotel in Lisbon.

Her recent relocation to Portugal was triggered by her sons new venture with the Portuguese junior football team- Benfica. Son David Banda, from Melawi, was adopted by Madonna and ex-husband Guy Richie back in 2006 and is now 11 years old. It is reported that David and his siblings will attend the international French Lycee school in Lisbon.

Madonna has posted a number of times on Instagram in recent weeks about her families new life in Portugal and their wait for their new residency visas to be granted. It is also said that she has had a private meeting with the immigration authorities, SEF, where her application is being treated as an exceptional case. Madonna’s unique celebrity status is projected to boost Portugal’s tourism and economy, bringing a lot of exciting new attention to the country.

Portugal has attracted a number of high profile celebrities in recent years including former Manchester United Football Club player Eric Cantona and French fashion designer Christian Louboutin just to name a few. The Portuguese Golden Visa programme requires international investors to purchase property priced at €500,000 which is more than possible for such high net worth individuals.

Another attractive aspect of investing in Portugal is the Non-Habitual tax regime, which gives foreigners huge tax advantages and the scheme exempts some pensioners from taxes altogether for 10 years.

If you wish to follow in Madonna’s footsteps and invest in Portuguese real estate for the Golden Visa, please do not hesitate to get in touch.

Portugal Property Prices Predicted to Increase 5% p.a

September 27th, 2017   •   Economy, Investor Visa, Portugal Golden Visa, Real Estate, Rental Income   •   Comments Off on Portugal Property Prices Predicted to Increase 5% p.a   

Portugal RICS Property price index report graphAccording to the latest RICS property price index report for August 2017, the Portuguese market remains in a very strong position.

The most promising news is that house prices have been predicted to increase by 5% per annum for the following five year period which is extremely encouraging for Golden visa investors.

Compared to the previous report published for June 2017, the figures for August have risen across the board for both house price increases and new sales enquiries. The sales expectations for the coming three months ahead has also risen. This sits in line with La Vida’s personal forecast as year on year the Autumn proves to be one of our busiest quarters for new investors buying in Portugal.

Due to a high demand yet a low of supply of property (particularly in Lisbon) prices continue to rise to meet this demand. The same has also effected the lettings market where rents remain on an upwards path with a steady rise of tenant enquires. It is predicted that rental growth will also continue over the coming three month period. This is great news for prospective landlords who are looking to invest for rental return.

In other areas, unemployment rates in Portugal have recently decreased to just 9.4% which is the lowest it has been since the 2008 recession. This is yet another positive reflection of how well the economy in Portugal is currently performing.

Despite the current shortage of property on the market, La Vida have an excellent choice of real estate to offer, with a vast selection of options in Lisbon, Porto, the Silver Coast and the Algarve.

As one of the market leading consultancies specializing in Investor visa’s, La Vida have the ability to assist investors with both the real estate purchase and the legal work which is involved in obtaining a Portuguese Golden Visa.

To speak with one of our expert consultant, please do not hesitate to contact us.

Invest in Portugal’s Silver Coast…

September 5th, 2017   •   Portugal Golden Visa, Property, Real Estate, Rental Income   •   Comments Off on Invest in Portugal’s Silver Coast…   

Silver Coast Portugal With international investors mainly focusing their attentions on cities such as Lisbon and Porto, it’s no surprise that some of Portugal’s hidden gems are often getting overlooked, and the stunning Silver Coast of Portugal is one of them.

Just 35-45 minutes outside of Lisbon, the Silver Coast region is an outstanding area of protected natural beauty  boasting stunning landscapes, golden sandy beaches and crystal clear waters all the way along the coastline. The region is home to a number of traditional and charming Portuguese towns as well as a 5* multi award winning Golf and Beach Resort where a number of luxury properties can be found, attracting numerous high profile owners and celebrities. Nestled between two of the most popular Golf resorts in the region is also the historic town of Lourinha where Jurassic dinosaur remains were recently discovered. Plans for a new Jurassic amusement park are set to boost tourism in the area, with a prediction of an extra 200,000 visitors each year, a great prospect for those looking to generate a rental return on property in this region.

La Vida have a number of different properties to offer along the Silver Coast and a large number of these are offering a guaranteed rental return of 5% per annum for up to 3 years. Also included within this offer is up to 6 months of personal usage for the owner each year, making this an excellent option for those looking for both a personal holiday home and a rental property.

Price per square meter in this location is also extremely competitive at just €2,500 per square metre compared to central Lisbon where the average price per square metre is from €5,000 upwards. Just another factor why savvy investors should be considering the Silver Coast.

Contact La Vida’s experts for further details on both the Portuguese Golden Visa programme and our property options.

 

Golden Visas hit 3 Billion Euros

April 25th, 2017   •   Portugal Golden Visa, Schengen Travel   •   Comments Off on Golden Visas hit 3 Billion Euros   

SEF Statistics- March17The Portuguese Golden Visa programme has always been a firm favourite since it was released back in 2012 and the latest figures from SEF, the immigration authorities, confirm this. A record breaking 3 billion euros has now been generated from investment via the Golden Visa scheme and there has been a total of 7,896 family residency visa’s granted so far.

2016 saw the busiest year to date with a total of 2,344 golden visa’s issued. But 2017 is set to see significantly higher figures with an impressive 1,259 visas being issued in just the first quarter alone.

The Golden Visa programme in Portugal has always been a popular choice for investors looking to secure EU residency rights via real estate investment. A major draw of this programme is the opportunity to apply for citizenship after 6 years, without the need to reside in the country for long periods on time. Like any EU residency visa scheme, the benefit of visa free travel throughout the Schengen zone is a huge advantage to many.

We urge anybody who is considering this visa programme to contact one of our expert consultants today. La Vida can assist with the whole process from A to Z, from providing initial advice, sourcing a property and processing the application itself through one of our specialist legal partners.

Golden Visa Property Surge in Portugal

February 15th, 2017   •   Economy, Portugal Golden Visa, Property, Real Estate   •   Comments Off on Golden Visa Property Surge in Portugal   

Portugal-House-Price-Index-ChartAccording to Portugal’s National Institution of Statistics, a recent report shows that in the third quarter of 2016, house prices had risen by 7.6% compared to the previous year, with a growth of  1.3%  just from Q2- Q3 of 2016 alone.

In the period of July- September 2016, Portugal saw an impressive 31,535 property transactions; a 15.8% increase compared to the same period in the previous year. These sales generated a total value of €3.6 billion! The area responsible for the largest proportion of sales was Lisbon, accounting for 34% of the whole country’s property purchases.

The market has been steadily growing since the economic crisis back in 2012/13, and property prices have shown significant signs of growth in the past few years. Since Q1 of 2013 we are now looking a total property price increase close to 14%. There does not seem to be any sign of these rises slowing down either, with an average appreciation rate of around 4-5% per annum.

The Golden Visa Scheme is certainly one of the major contributing factors for these price increases, as Portugal has seen a great boost in their economy since the introduction of residency visa programme back in Oct 2012. The visa programme remains strong, and is still one of our most popular schemes for those looking for a flexible residency scheme in Europe with the opportunity to apply for citizenship after just 6 years. For more details on this programme please contact our experts.

 

How to get Residency or Citizenship in Europe through Investment

January 14th, 2017   •   Passport, Residency   •   Comments Off on How to get Residency or Citizenship in Europe through Investment   

The new golden visa programmes in Europe have made it possible to get residency and citizenship through investment in real estate. Countries such as Cyprus, Spain, Portugal, Greece and Malta now offer this attractive benefit to high net worth invdividuals who invest in property in these countries.

We have highlighted below a brief description of the opportunity in each country along with the basic requirements such as how much to invest. However, for a full understanding of these options please contact one of our consultants.

Cyprus

Cyprus offers two programmes, one for permanent residency and one for citizenship. The residency programme requires an investment of €300,000 in real estate. For citizenship and an immediate second passport investment of €2 million is required. Both programmes are flexible for family qualification allowing parents, grand parents and children to qualify.

Read More: How to apply for residency and citizenship in Cyprus.

Portugal

Portugal offers a residency scheme through investment of €500,000 into real estate. This programme grants temporary residence to the investor and their family providing the investment is maintained and renewed every two years. After five years applicants can then apply for permanent residence and after six years for citizenship and a passport.

Read More: How to apply for residency and citizenship in Portugal.

Spain

The Spanish golden visa programme requires investment of €500,000 into property. Applications are processsed quickly and residency can be gained in a matter of months. For citizenship investors and their families need to live in Spain for a minimum of 10 years.

Read More: How to apply for residency and citizenship in Spain.

Greece

The cheapest residency investment programme currently available in Europe is that of Greece, requiring investment of just €250,000 in real estate. Flexible rules apply for full family qualification across three generations.

Read More: How to apply for residency and citizenship in Greece.

Malta

Malta is unique in requiring investment in property and further investment contribution in the form of a government donation. However citizenship and a second European passport is on offer to those investing and waiting the 12 months or so it takes to obtain full citizenship.

Read More: How to apply for residency and citizenship in Malta.

 

Other countries have residency and citizenship investment programmes that are not directly linked to real estate. Contact us for further details on how to apply for and buy permanent residency and citizenship through investment in the UK, USA, Bulgaria, Hungary, Dominica, St Kitts, Grenada, St Lucia and Antigua.

 

Programme Review and New Year Developments

December 13th, 2016   •   Real Estate, Residency   •   Comments Off on Programme Review and New Year Developments   

This year 2016 has proven to be a further step on the ever developing market for investor visa programmes. Demand is increasing for most schemes, many programmes have changed and further amendments are expected in 2017. With a Trump victory, Brexit and European immigration concerns we can expect major changes to continue into 2017 and 2018.

We have highlighted below some of the key developments in 2016 and expectations of change in the year ahead.

Portugal

The delays in SEF in processing golden visa applications in mid 2015 led to a drop in numbers. However a new fast track procedure introduced earlier this year has put applications back on track. The number of approved applications in 2016 looks set to be the highest ever running at over 2000 investors per annum. The introduction of a €350,000 limit for renovation projects is taking time to produce the necessary supply. Such projects are complicated and need to be fully managed. La Vida has sourced some interesting options for clients and we will see more of these in 2017. The property market is gaining strength in Portugal with price rises over the last three years now fuelling growth and demand. Developers are reluctant to offer discounts and the best properties are sold long before completion.

Cyprus

There were some key changes introduced in 2016 to the Cyprus citizenship and residency programmes.

The qualifying real estate investment level for citizenship was reduced from €2.5 million to €2.0 million. The timescale for achieving the pasport increased to six months as it is now necessary to hold residency (but not necessary to live in Cyprus) before being issued a passport. It still remains the fastest route to EU citizenship.

The residency programme was amended to include parents. Three generations can now be included for an investment of just €300,000 in real estate. A key benefit is that this is for Permanent Residency (PR).

Changes for 2017 could see Cyprus becoming part of the EU Schengen zone. Anyone obtaining the Permanent Residency before that point will no doubt retain it should Cyprus enter Schengen. The EU has not allowed any Schengen country to issue Permanent Residency immediately on investment. Should Schengen happen then we can expect some changes to the programme. Investors may be wise to act sooner to grab the benefits on offer.

The economy in Cyprus may well see a further boost in 2017 with the discovery of huge natural gas resources off the coastline and the development of its first casino under the Hard Rock brand.

Hungary

Political developments in Hungary could well see the end of the residency bond visa programme in 2017. It has been possible to obtain residency in Hungary through a €300,000 investment in government residency bonds. However Hungary’s nationalist opposition party Jobbik is seeking an end to the programme in return for its support on other matters. Parliament closes this week so unless change happens in the next few days we can expect no further developments until at least February 2017. Still time for any investor to get their application in ahead of any changes.

St. Lucia

We can expect changes in 2017 to the recently launched citizenship programme in St. Lucia. The scheme has been in operation less than 12 months but there is a new government in place and new ideas and our conversations with those close to the programme suggest a more coordinated and consolidated programme will be launched in 2017.

Spain

The Spanish government made some changes to its golden visa programme in 2016 but nothing that enables it to seriously compete with some of the better schemes on the market.

Dominica

The government is reaping the benefits of its $100,000 contribution limit. The caribbean countries are concerned that this is a race to the bottom in terms of sale of passports.

St. Lucia

Expect changes to the St. Lucia citizenship by investment program in 2017. A change of government has already led to a $100,000 donation offer until 31 March 2017.

 

Portugal Golden Visa Numbers Exceed 2015

July 12th, 2016   •   Portugal Golden Visa   •   Comments Off on Portugal Golden Visa Numbers Exceed 2015   
portugal-golden-visa-statistics-2016

Portugal Golden Visa Statistics

The number of Portuguese Golden Visas granted this year has already exceeded the total issued in the whole of 2015.

That’s according to official figures issued by the immigration authorities in Portugal, SEF.

In total 821 Golden Visas have been approved so far in the six month period up to 30th June 2016. That’s more than the total for 2015 as a whole.

Golden Visa Delays 2015

The 2015 figures took a hit when the government temporarily postponed the programme in mid 2015 while they put new procedures and rules in place to avoid a repeat of the visa issuing fraud that saw the resignation of the then Minister of Internal Affairs, Miguel Macedo. New rules were introduced by September 2015 and visa application processing started again. Investments and visits made by applicants never stopped throughout this period. It was just that the processing of subsequent applications was delayed while new procedures were introduced.

New Fastrack Processing in 2016

By early 2016 a new fast-track procedure was introduced whereby clients submitting their full documentation could be processed for a golden visa in under 3 months. La Vida clients who have invested this year have already benefited from this accelerated golden visa application process.

Record Year for Golden Visas

This year, 2016, looks set to break the previous record of 2014 when a total of 1526 golden visas were issued by SEF. To date 94% of all golden residence permit investments have been into real estate, the remaining 6% into venture capital funded investments or job creation. The programme has so far introduced 2.2 billion Euros in inward investment for Portugal since its launch in 2012.

Most Popular Golden Visa Programme in Europe

Portugal remains the most popular programme for residency investment in Europe. A combination of low cost investment (€500,000), certainty regarding real estate ownership with 100% retained by the investor and no government donation along with a minimum stake of just two weeks every two years and the possibility of citizenship make it Europe’s most successful golden visa programme. Read more on the benefits.

European Countries – Real Estate Golden Visas

June 23rd, 2016   •   Real Estate, Residency   •   Comments Off on European Countries – Real Estate Golden Visas   

Despite popular belief there are very few European countries that offer residency through investment in real estate. These programmes guarantee the investor residency provided they meet some straightforward criteria. In some countries residency may progress to citizenship (Portugal, Spain, Greece) and in the case of Cyprus then citizenship by investment in real estate is immediate.

The countries offering this are Spain, Portugal, Cyprus, Greece and to some extent Malta, although further conditions are attached in addition to the purchase of property.

European countries without such golden visa programme for real estate include Albania, Andorra, Armenia, Austria, Belarus, Belgium, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Georgia, Germany, Hungary, Iceland, Ireland, Italy, Kosovo, Latvia, Liechenstein, Lithuania, Luxembourg, Macedonia, Malta, Moldova, Monaco, Montenegro, Netherlands, Norway, Poland, Romania, Russia, San Marino, Serbia, Slovakia, Slovenia, Sweden, Switzerland, Turkey, Ukraine and the United Kingdom.

Many European governments do offer residency through investment but that investment tends to be aimed at entrepreneurs aiming to create business and jobs in the country. Often there is an application process involving interviews and a consideration of business plans. In this sense the outcome is not guaranteed.

 

International Buyers see Golden Visa Gains

April 15th, 2016   •   Economy, Portugal Golden Visa, Real Estate   •   Comments Off on International Buyers see Golden Visa Gains   
View of Avenida de Liberdade

Avenida de Liberdade, Lisbon.

International investors who moved early for the golden visa in Portugal are now looking at real estate gains of over 10%. Those who bought early in the programme in 2012 will have seen average price rises of 10.2% in the last 3 years according to house price data released by the government.

While this no doubt is great news for our existing investors, those still considering Portugal for the residency visa offered through real estate investment are advised to act quickly.

Prices in Portugal and the capital Lisbon are not just rising but accelerating. The average rise in property prices over the last 3 years has been 3.4%. However prices in the last 12 months have risen 5.1% and are expected to at least continue this trend in the coming year.

That means anyone considering a property purchase is likely to pay at least €25,000 more for their investment in a year’s time if they invest at the minimum requirement of €500,000.

The trend in prices is backed up by our own practical experience as real estate agents. We are seeing rising construction in prime areas such as Chiado and Avenida de Liberdade in central Lisbon. Developers however are starting to hold back on releasing projects, preferring to complete developments before marketing them, safe in the knowledge that prices are likely to be higher.

The demand at €500,000 and above is fueling faster price growth for prime residential property. Over 2,000 international investors each year are entering Portugal for residential real estate on the back of the golden visa programme.

La Vida has seen strong demand for recent projects in Lisbon.  Centrally located close to Avenida de Liberdade we have a brand new renovation of 90 apartments that have just been released off plan offering arguably one of the best real estate investments in Lisbon currently. Contact for brochure. Likewise in the prestigious area of  Chiado where we have a development of 37 apartments with views over the city and Targus river.

Outside the capital we have a new resort development in Cascais, 30 minutes from the city, released April 2016. This is built to the same quality and standards as the luxury development we offer on the Algarve which has proven popular with investors attracted to its 5% rental guarantee.

For advice and further information on our projects please call or email our real estate consultants or complete your details here.