Golden visa real estate

[lsnerbonne (LISA NERBONNE)]

If I am trying to get a golden Visa through the purchase of real estate €500000 must the home of be paid for in cash? Or would a mortgage be allowed?

[guifig (Gui)]

You’ll need to transfer 500k to a bank account in Portugal in order to make the investment.

[tkrunning (Thomas K. Running)]

You need to provide €500,000 in your own capital, but if you purchase a property costing €600,000 you can take out a mortgage of €100,000.

[Triet (Triet Nguyen)]

Hi,

Let’s say that I buy a 400K euros house and then spend another 100K euros on renovation/improvements. Does this count as 500K in real estate investment? All are related to real estate and the house.

Thanks.

T

[CTC (Rob S)]

The answer is sometimes, depending on the particular circumstances. This is basically the rehabilitation option, which does allow improvements to count toward the investment amount threshold (usually a reduced investment threshold). Here’s more information on that:

Golden Visa - Rehabilition Real Estate Option

I am looking to pursue the golden visa in Porto through the €350k Real Estate rehabilitation route. From my understanding, to be eligible you will need to make a minimum €350k investment with a >30 year old home with approved plans for rehabilitation and funds for the rehabilitation project available. I’ve tried to find resources what is required for the rehabilitation project for the golden visa application but its been difficult. My initial understanding is there needs to be corresponding d…

[Triet (Triet Nguyen)]

Hi Rob,

Thank you for the info.

I’m wondering if I’m not doing the lower 350K option and if I would like to do the 500K option, would they allow a purchase of 400K and 100K of improvements to count as 500K? This one is not as clear as the 350 K option.

Thanks.

[CTC (Rob S)]

I definitely am not an the expert on that, and I would highly recommend speaking to an attorney, but my understanding is that if you want the option to have upgrades/works to the property to count for purposes of qualifying for the visa, you should go the 350,000 euros route. Otherwise, works will not count toward the 500,000 euros to qualify for the GV.

[Triet (Triet Nguyen)]

Yeah. That’s my take too.

[tommigun (Tommy Gunn)]

@Triet

Hi Rob,

Thank you for the info.

I’m wondering if I’m not doing the lower 350K option and if I would like to do the 500K option, would they allow a purchase of 400K and 100K of improvements to count as 500K? This one is not as clear as the 350 K option.

Thanks.

No, this is not allowed for the 500K option. The amount on your property title should be 500K or more.
Any lower than that you will have to meet the rehab option criteria.

[Triet (Triet Nguyen)]

Hi Tommy,

How about if I buy two properties: one for 400K and one for $100K? Would that count?

Thanks.

T

[veryornery (Rac Dev)]

Yes, you can buy as many properties as you want as long as the total is 500k.

[Triet (Triet Nguyen)]

Thank you. Good to know.

[tommigun (Tommy Gunn)]

Yes, @veryornery is correct, multiple properties would work to make up the total EUR500k.
I myself looked at the two properties option but in the end managed to find just one.
Note the properties could be a mix of any type, i.e. residential, commercial, ‘terreno’ etc.

[Triet (Triet Nguyen)]

Thanks Tommy. Good to know.

T

[Triet (Triet Nguyen)]

Hi Tommy,

How’s everything going?

Triet