Foreign investors will find it more difficult to obtain a gold visa as of January 2022, as the Portuguese government has put a brake on this regime. However, as the end of the current regime of rules and regulations for these visas approaches, interest has only grown in this opportunity. As such, property developers are finding ways to "circumvent" the situation, allowing these same investors to acquire properties and thus be able to see the Golden Visa granted. How? Through investment funds and tourist flats.
"People have readjusted the way they invest and they do it through investment funds. There have been many promoters creating investment funds, private equity funds, which allow investors to continue to invest wherever they want," said Hugo Santos Ferreira, president of the Portuguese Association of Real Estate Promoters and Investors (APPII), quoted by ECO.
According to the publication, real estate promoters set up these investment funds and put real estate in the portfolio, which allows a foreign investor to subscribe to participation units (UP) of this fund. In this way, for a minimum of 500,000 euros they obtain a gold visa.
"The disadvantage is that, in essence, the investor does not buy direct ownership [of the property], but rather a UP. There is no direct purchase of the property, nor is it full ownership, but they end up being a property owner", explained Hugo Santos Ferreira.
Another way to get around the brake imposed by the Executive on the programme is through the transformation of local accommodation properties, which were considered housing, into tourist flats, said a source in the real estate market, noting that this modality is not part of the residential market and still gives access to the visa.
Tourist flats are a modality that allows the buyer to acquire a property, from an investment point of view, and spend two or three weeks per year there, and the rest of the time it is rented for tourism purposes, writes ECO.
Article seen on: Fundos e apartamentos turísticos usados para contornar travão aos vistos gold
Vale do Lobo to launch new apartments and off-plan houses
For the first time in almost two decades, the Vale do Lobo resort is preparing to launch a “new real estate product in plan”. There will be apartments and semi-detached houses in the Vale Real area, also aimed at the “new, more demanding generation of visitors and owners”.
Brits remain interested in living in Portugal
The change to tax and residence rules for foreigners has not diminished British people's interest in moving to Portugal, said the director of the Portuguese Chamber of Commerce in the United Kingdom, Christina Hippisley.
Getting a mortgage in Portugal as a foreigner
Portugal, with its pleasant climate and affordable cost of living, continues to be a desirable destination for expats and retirees. This guide offers crucial information for foreigners wishing to obtain a mortgage in Portugal and everything you need to know about getting a mortgage in Portugal as a foreigner.
IMI Portugal 2024: price per square metre remains at 665 euros in 2024
What is IMI tax in Portugal? IMI stands for "Imposto Municipal sobre Imóveis", which translates to Municipal Property Tax in English. It is a property tax levied on real estate properties in Portugal. IMI is imposed annually on the rateable value of properties and is collected by local municipalities. The tax rate can vary depending on factors such as the property's location, type, and value. When it comes to IMI in Portugal in 2024, the price of a square metre (m2) for the purposes of calculat
Mortgage interest rates in Portugal higher than the Eurozone since October
In Portugal, average interest rates on new home loans have been stabilising at 4.2% since June. And in the euro area, average interest rates continue to rise, having reached 4% in November for the first time since 2009. But even so, Portuguese banks are charging more interest on home loans than the Eurozone average, a trend that has been visible since October last year, as revealed by the most recent data from the Bank of Portugal (BdP).
Tax exemptions attract foreigners - and the Portuguese emigrate...
The tax exemptions granted to foreign citizens who come to live, invest or work in Portugal have made many people choose the country to live in. The other side of the coin is the flight of residents, particularly young people, who pack their bags for other destinations in search of better living and working conditions and/or salaries. A scenario that seems to have gained momentum with the increasing tendency for Portugal to be one of the places of choice for local nomads.
Social Security's new digital counter: find out how to get in touch
The new digital counter is designed to improve contact with Social Security and allows citizens and companies to interact interactively with Social Security. It is a service that is always available and can be accessed from a computer, tablet or smartphone.