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How to obtain the Portuguese Golden Visa through a Real Estate investment in Lisbon after January 2022
29/12/2021
Even after the change of the Portuguese Golden Visa, it is possible to get the Golden Visa through a property investment in Lisbon
The news about the changes to the Portuguese Golden Visa scheme once upset the Portuguese real estate market. Mainly the change that real estate investments in Portugal's major cities like Lisbon or Porto as well as in highly popular coastal tourist destinations like the Algarve were no longer going to be possible, raised the fear of falling property prices in these areas and reduced investments, both foreign and investment from local real estate developers and providers.
But so far the Portuguese real estate market remains strong and gaps in the new law were quickly used to keep up with the strong demand for investment based immigration to Portugal.
Investments in commercial and tourism related real estate developments are still eligible for the Portuguese Golden Visa, nationwide!
One of these gaps is that investments in commercial real estate or tourist developments remain eligible, even in Lisbon, Porto and yes, the Algarve. Although Portugal suffers from a lack of affordable residential properties, and many real estate developers changed the master plan of their upcoming projects into a resort-style development, it is not expected that the Portuguese government will close this gap to still obtain the Portuguese Golden Visa in cities such as Lisbon or Porto in the foreseeable future. The tourism industry created 19.1% of Portugal's wealth last year and for obvious reasons, the tourism industry remains a top priority for the Portuguese government.
Investing in tourism related real estate offers the highest possible returns and several lifestyle options
Even before the changes, real estate investments in tourism related properties like resorts or hotels were very popular. No other property investment generates higher returns than property that can be put on the short-term rental market or be rented out to holidaymakers. The fact that the resort management takes care of all the paperwork, property management and guest well-being makes investments in this kind of properties a stress-free experience, where the investor just sits back and enjoys watching the rental returns appearing on his bank statement. Now that property investments in tourist development are one of the few ways to obtain the Portuguese Golden Visa through a real estate investment in popular regions such as Lisbon or the Algarve, will make such investments even more popular, and will hopefully generate an extra boost to the recovery of Portugal's tourism sector after the COVID-19 pandemic.
Lisbon Residences by Hyatt Regency
A perfect example of how such a boost can look like is Lisbon's newest upscale hotel, the Hyatt Regency Lisbon, which is the first Hyatt Regency hotel in Portugal.
Built amidst the pandemic by hotel group UIP and to be opened in April 2022, this hotel already announced the creation of 150 much needed jobs in Lisbon. At the same time, the Residences by Hyatt Regency offers unique investment opportunities to private investors and seekers of the Portugal Golden Visa.
One can buy freehold properties ranging from one-bedroom apartments to three-bedroom apartments, with guaranteed minimum net rental returns of 5% for the 5 first years or, by choice, 3% for the first ten years. However, real returns are expected to be close to 7% per year. As this upscale hotel with suites and residences is built right on the Tagus river, all apartments offer splendid views of the river, and some of them even of the famous 'Ponte 25 de Abril', also nicknamed Lisbon's Golden Gate Bridge to which it looks almost identical.
Located in Belém, this upscale hotel is surrounded by Lisbon's most famous and historical attractions and just a five-minute drive away from Lisbon's historical centre. It will include a rooftop pool and restaurant, a conference room, a luxury shopping centre and 900 m2 of spa and well-being, managed by UIP's exclusive luxury brand 'Serenity - the Art of Well Being'.
The Hyatt Regency in Lisbon is a proof that despite the pandemic, the future for tourism and real estate investments still looks bright. Especially knowing that close to 70% of the hotel's units have already been sold. You can find a live availability map on this link.
The Portuguese Golden Visa remains Europe's most popular residency-by-investment program
Created during the 2008 - 2012 financial crisis, the Portuguese Golden Visa was the government's response to the collapsed real estate market in Portugal and designed to attract more foreign investment to the country. It was the first residency-by-investment program within the EU and remained the most popular one until today. As Portugal is part of the Schengen zone of countries, this visa not only allows for non-EU citizens to reside and work in Portugal, but also to freely travel through all Schengen countries without further visa. Even family reunification is possible and after 5 years, holders of the Portuguese Golden Visa can apply for Portuguese citizenship. Most important, it is a very affordable program, which can be obtained with a minimum investment of €500.000.
