Portugal is the first choice for many americans and other foreign nationals investing in Golden visa scheme due to its unique benefits. Despite Covid, the global demand and interest for golden visas only surged, as Portugal largely resisted real estate decline due to Covid pandemic.
It is possible to buy properties for golden visa purpose through the following investments in real estate market.
- €280,000 in Rural and low density areas (20% discounted)
- €350,000 in Major cities Lisbon, Porto, Algarve and coastal areas (this will change in 2021)
- €350,000 in Buy back shares in hotel investments (fully refunded)
- €500,000 in Luxury properties in Lisbon and hotel areas
Portugal will likely implement golden visa changes 2021 that will shift golden visa investments to inner regions of Portugal. Once this happens it would be impossible to buy properties in Lisbon, Porto, Algarve and coastal areas.
What property taxes are applicable?
The 280K euro is the minimum eligible investment for Portugal. Many investors do not realize the additional costs involved such as property taxes, lawyer fee. We make it very transparent for clients, so that you are not shocked by the quotation you receive from agents and developers.
This will give you a good insight and idea on taxes and applicable total costs.
The True Costs for Portugal Golden Visa
Let us assume you are investing the minimum €280,000 property in Portugal
In short, if you buy a property, you should be prepared to spend 8% additional costs in the form of property taxes, tax registration, bank account opening, legal fee, government fee
|Property price incl. works||€280,000 (GV investment)|
|Stamp Duty tax (0.8%)||€2,016|
|Real estate transfer tax (IMT) (1% to 6%)||€9,476|
|Notary fees and registration||approx. €2,000|
|Lawyer fee||approx €6,000 (all inclusive legal assistance, tax registration, bank account opening, immigration work, property title checks etc)|
|Golden Visa Government analysis fees|
Golden Visa Government approval fees
€533.90 Family member
€5,336.40 Application per applicant
These taxes increase for 350K properties and you can calculate accordingly. You can find all the applicable taxes and costs here