Ideal Homes International has undoubtedly caught the attention of millions of foreign investors from different parts of the world looking to enjoy the immense features and benefits associated with owning a property in one of the fastest-growing real estate markets in Europe, Portugal.
In a related development, the company is helping clients adapt to the updates on Portugal’s Golden Visa for 2021/22, especially as it concerns the property investment option.
What Is The Portugal Golden Visa Program?
The Golden Visa Portugal remains one of the most popular residency-by-investment programs worldwide, with thousands of families across the globe successfully relocating to Portugal via this route. Otherwise known as the Residence Permit Program, the program is a five-year residency-by-investment scheme for non-EU citizens.
The visas enable qualifying investors and their family members to live, work and study in Portugal, and enjoy free movement in the Schengen Area with an opportunity to become permanent residents.
Changes To The Portugal Golden Visa Program
The country recently announced updates to Portugal’s Golden Visa program, which will take effect from 1st January, 2022. The updates are briefly highlighted as follows:
• Increase in the minimum investment threshold to qualify for residency
• Change in investment fund amount option for the Golden Visa from €350,000 to €500,000
• Increase in the capital transfer amount option for the Golden Visa from €1 million to €1.5 million
• Introduction of new real estate investment restrictions, with properties in Lisbon, Porto, and other high-density coastal towns not qualifying for property investments
In a related development, only property acquisition of up to €280,000 and investment in rehabilitation projects worth at least €350,000 in Portugal’s interior territories and Azores and Madeira will be accepted.
Steps To The Portugal Golden Visa Application
Onboarding – the first step is to collect the necessary paperwork for the applicants and dependants.
Bank account & NIF – applicants are also required to obtain the tax identification number (NIF) in Portugal and subsequently open a bank account in the country.
Make the Investment – the next step is to go ahead with the investment after the completion of all the necessary paperwork.
Biometrics visit – it takes about 2 months to get a biometrics collection session in person from the day of the booking interview.
Issuance of Golden Visa – once the biometrics is done, applicants often gave to wait for about 4 months for the visa to be approved by SEF.
For more information about Ideal Homes International and how to leverage the firm’s services to own a property in Portugal and obtain the Golden Visa, please visit – www.idealhomesinternational.com. Ideal Homes International can also be found across social media, including YouTube, Facebook and Twitter.
About Ideal Homes International
Ideal Homes International is a multi-award-winning real estate agency. Headquartered in Portugal, the company serves clients across the globe with offices in the Algarve and Spain. Led by Chris White, founder of the company, Ideal Homes has been able to build a reputation for delivering premium quality real estate services to savvy buyers and expert investors who want to buy holiday homes, permanent residences, and investment properties worldwide.