Good day everyone,
If a married couple are looking to acquire GV via the property route, does it matter if they purchase the property in joint ownership, or just one of them purchases as a sole owner?
As an example, if they purchase jointly at EUR500k, would each of them be considered as ‘investor’ eligible to apply for a GV in their own right? Or would they both fall short by EUR250k and NOT become eligible to apply for a GV?
Good day everyone,
You only need 500K of property per eligible family. There are additional fees per person, but additional property investment is not required.
Before purchasing, I recommend coordinating with a GV lawyer experienced with the property option, to ensure the correct ownership structure. The Portuguese authorities may be attentive to details like this. It caused ongoing consternation among many service providers that some of my documents included my middle name, some did not, and some included a middle initial. That seems to be alarming.
Thanks for your promptest reply!
I have spoken with a GV lawyer who recommended the joint ownership for the reason of ‘protecting the other spouse’. This did not sound very convincing, so I wanted to check online as well.
Besides I generally prefer to get information from multiple sources including the official requirements where available, rather than relying on the opinion of one particular lawyer.
And thanks for pointing out the potential spelling/naming issues, I am aware of the importance so will take extra care.
Protecting the spouse sounds sensible to me. If someone dies, the resolution of assets may be complicated if the property is not jointly owned.
That of course makes sense, I meant to say that the rationale for ‘protecting the spouse’ has nothing to do with the GV process itself. My query was more to the point of how SEF/GV regards the joint ownership model as described in my question above.
Argh. @tkrunning I accidentally hit the “flag” button. I didn’t mean to. I’m sorry about that.
At least for me, the application is in my name solely, and all the assets are in my name, and the spouse application is being done as a spouse/dependent, not as a primary applicant. So I don’t think it matters and for all I know might confuse things. But I’ve never asked either.