I nearly did the Golden Visa late 2021, had the NIF, Bank, but didn’t quite line up the funding via my bank for the EUR 350k for Investment Fund. Also a little scared off by delays, glad to see online renewals and backlogs getting addressed now (Still sounds bad, but much better).
I’m back given the last chance, EUR 500k still not do-able, EUR 350k perhaps doable, but I’d much prefer the EUR 280k option.
I do realize as Pella Terra brilliantly put it, the lower investment options are more limited, less open-market, and so are just naturally more risky.
First, why I don’t like the big boy (Mercan):
- EUR 280k level has no dividend/yield, and no capital gain (Guaranteed buy back means in 10 years they’ll buy it back at EUR 280k right?). 0% return over 10 years (not even inflation!) is a instant NO. The Buy Back’s are also a bit BS (exit clause makes it easy to break apparently).
What I (reasonably) want:
- To buy an asset, aim (I’m flexible) for say a 5% compound capital increase over 10 years, so EUR 280k = EUR 456k in 10 years. Ideally there’s also a modest yield (2-5%) in most of those years.
My favorite 2 project so far, and compared:
Rossio Palace & The Society Lagos
My general pros of each (over the other):
- Explicitly refundable deposit if law changes result in application denied
- They’ve been really active in webinars and offering advice
- The team are well known Entrepreneurs (though seemingly no Hotel experience, but their team would have this experience)
→ https://eu-youthaward.org/winner/filipe-leal/ - https://www.itu.int/en/ITU-D/Regional-Presence/Europe/Pages/Events/2021/AwardsCeremony/speakers.aspx
- [Negative] You own a “share” in the palace, the webinar makes the exit strategy sound rushed vs buying each individual investor out as needed, sounds like you can’t sell your share to someone else. I’m going to ask them a lot more about this soon.
- Developer seems a lot more experience in properties
- You own the actual individual unit, and seemingly could sell that yourself on the open market (I’m not sure how much freedom you have though to say live in it, vote on property stuff, etc.)
- Location seems more desirable (southern, coastal)
Good things about both:
- They both offer free stays (Saves $1,000’s in hotel costs during the 2 weeks required visits and visits for visa/biometrics/etc.)
I’d love to hear your thoughts (If you chose another EUR 280k, If you went with one of these, If maybe there was a EUR 350k investment you think is worth me stretching myself a lot more)