I stumbled across the forum during some research and appreciate all the info so far.
Were a British married couple looking to gain citizenship after the temp residency period.
My wife and I have placed a deposit on a project in Portimao with Portugal Homes.
We’ve appointed Edge as our Immigration and property purchase lawyers.
We used Bordr for our NIF and Bank account which took 3 days and 2 weeks respectively. We we’re very impressed with this service.
Questions.
Has anyone else bought into this project? Im told all but 1 units are sold. Portugal Homes 280k Portimao
Has anyone else worked with Portugal Homes (Ive seen 1 comment on the site that wasn’t positive but for reasons that wouldn’t put us off working with them)
Ive seen good feedback regarding Edge and had a recommendation from a friend.
Hi, I am in initial discussions with Portugal Homes and they have suggested the Portimao Hotel property. Would like to know what your experience has been so far?
Hi there. Tbh it’s very early days of my experience with Portugal Homes, however they have been very responsive and thorough so far.
Since my first post in April our lawyers have received all documents relating to the sale of the property and we are signing contracts this week.
I’m sorry I can’t help further but we are really at the beginning of the journey.
The project we are buying into is a run down hotel/refurb project.
The refurb Work is due to start in sept this year and take approx 12 months to complete.
I think by sept next we should know if portugal homes are any good or not!
Thank you for sharing, Jonathan. I just reserved a room with them, on a different hotel project, let’s hope everything goes smoothly. Do you mind me asking which lawyer/firm did you decide to go with and if you would recommend. Many thanks.
We have a friend that have used and highly recommended Edge International. Coincidently PH also recommended Edge and have worked with them frequently.
They are more expensive than most firms but I’m assured by my friends that have done a similar transaction that they are very efficient- which is a priority for us.
I have been in the process with Edge for 2 months now.
I am now in the agreement phase for a hotel project. 280k.
How has your experience been with Portugal Homes so far? What phase are you in at the moment?
I have a concern with the management agreement draft, which I found has a clause that puts all maintenance/repair of the hotel rooms on me. I found that unfair given that I would not be earning any revenue/profit the operations of the rooms, yet I would need to pay for any repairs as and when determined by the management company. So I am at a juncture with this project and its management agreement.
As you know we aren’t supposed to discuss our individual contracts but if you tell me which clause of which contract/annex you refer ill check. I’m certain it wasn’t the case in my paper work.
We have paid the 280K and await our sales deed (takes around 5 weeks)
meanwhile we are having our visa application started and getting our uk docs certified in the uk before we submit them to our lawyers. (Edge int)
I am about to invest with Portugal Homes in a hotel project (€280k) in Fonte Santa. So far, my experience has dealing with them has been exceptionally good.
I have been researching the GV program since 2019, and initially considered the Investment Funds option (I wonder what the value of that investment would be now, with exchanges being hammered in the last 9 months). I was close to signing up with Mercan early last year, but stopped when I found out the ARI portal was shut. That didn’t seem like the best option with no yields on capital, nor the possibility to appoint your own lawyer and no title deed (only shares in the project).
Last week I flew to both visit the Portugal Homes offices in Lisbon & Algarve, as well as to view the proposed site of the hotel project. Before investing a substantial amount of money, I wanted to see everything was legitimate. I also met with the legal firm I am going to select for my application.
I am optimistic that as SEF gets through their restructuring, wait times will reduce somewhat, but likely this journey is a 7-8 year journey to acquire PT citizenship.
I’m interested if any of the people that have posted in their thread earlier have any updates on their progress?
John, did you ever invest in the Fonte Santa? We did and are now waiting to see if the construction starts, it hasn’t so far. The property is supposed to open Dec. 2024. I guess they do still have time, but they seem to be taking their sweet time to get started.
Yes, I did invest in this project. Yes indeed the opening is set for Dec 2024. From the last update the investors received, it will be a few weeks until the asbestos/previous construction is cleared. Given the length of time it will take to get the first residency card in hand, it might just co-incide with the hotel opening!
