Portuguese Nationality in the Purchase of Real Estate, Is It Possible?

Portuguese Nationality in the Purchase of Real Estate, Is It Possible?

Portuguese Nationality in the Purchase of Real Estate, Is It Possible?
Portuguese Nationality in the Purchase of Real Estate, Is It Possible?

Portugal has the golden purchase of real investors from all over the world some programs, such Visa, encourage the arrival of those who want to acquire Portuguese nationality in the estate.

With some significant changes that are being applied from January 2022, the Gold Portugal Visa is still an interesting alternative for those who want to live in the country.

If you are interested in acquiring Portuguese citizenship through the purchase of a property, we have separated the important details of this process for you. You may also be interested in article Rental Price in Portugal: Value of the Main Cities in 2022.

What are the Ways to Acquire Portuguese Nationality?

In the scenario of uncertainties in which we live, people's interest in solutions that allow them new opportunities, mobility, safety and quality of life grows every day.

Certainly, obtaining Portuguese citizenship appears as one of the best alternatives available. There are several ways to acquire Portuguese nationality, either through attribution or acquisition.

Thus, Portuguese nationality can be requested by children, grandchildren, great-grandchildren, spouses and companions of Portuguese people, by time of Residence, as well as by descendants of Sephardic Jews.

Below we will see the possibility of acquiring Portuguese nationality in the purchase of real estate.

Is Portuguese Nationality in the Purchase of Real Estate Viable?

The answer to this question is yes through the Golden Visa program, officially called ARI - Residence Permit for Investment Activity.

The Gold Visa makes it possible for foreigners to apply for Portuguese citizenship by maintaining the investment for at least 5 years.

The program thus allows you to live in Portugal, receiving a temporary residence permit, which can be renewed. After five years, it is possible to apply for Portuguese nationality when purchasing real estate.

However, to have this right, it is necessary to fulfill, at least, the minimum period of stay in the country. The deadlines are as follows: 7 days in the first year (consecutive or interleaved) and 14 days in the periods of two subsequent years (consecutive or interleaved).

The main requirement is business value. In the Golden Visa rules, there is a minimum value of the property to be acquired in the country. Also, there are some restrictions on where to buy. These limitations are in the implementation phase, and we will explain more about them shortly.

Therefore, after 5 years of investment, you acquire the right to apply for Portuguese citizenship for a period of "residence".

What is Portuguese Nationality by Length of Residence?

It is the granting of citizenship to those who are over 18 years of age and have resided in the Portuguese national territory for at least 5 years.

It is the modality of nationality by acquisition, also known as derived nationality or by naturalization. Thus, it only takes effect from the date of its registration.

To obtain Portuguese citizenship for a period of residence it is necessary to live legally in Portugal. According to art. 6, n⁰ 1 of Organic Law 02/2018 of July 5, the term for legal residency is 5 years, not 6 years, as it used to be.

According to art. 15 of the aforementioned law, legal residence can be either uninterrupted or interpolated, for the purposes of applying for nationality.

However, these interpolated period to be added cannot have occurred in a time interval greater than 15 years.

As we can see, the acquisition of Portuguese citizenship by length of residence was facilitated and, even, it is not required that the stay in Portuguese territory has been uninterrupted.

In this article, we are specifically analyzing the regime of Residence Permit for Investment Activity that provides the beneficiary with the possibility of requesting the acquisition of Portuguese nationality in purchase of real estate.

Check out below how the Golden Visa program works and the new changes valid from January 2022.

What is Golden Visa for Portugal?

The Golden Visa Portugal was created in 2012 with the aim of attracting resources and investors to the country. This occurs through the granting of a special Residence Permit for foreigners from outside the European Union who have invested in Portugal.

Through the Gold Portugal Visa, many Brazilians can be guaranteed the right to legally live in the country, if they make any of the planned investments.

The most popular type of investment was real estate. In fact, this modality means that someone who buys one or more properties in Portugal can guarantee their Gold Visa.

However, it is necessary to respect the rules and the minimum investment amount, which is at least 500 thousand euros. The good news is that this amount doesn't have to be all spent on a single property.

This, you can buy several properties that add up to this amount, guaranteeing your Golden Visa for Portugal. This ends up being a good investment opportunity, not least because the properties can be later rented, for example.

But, real estate investing is not possible just that way. The legislation also allows investment of at least 350 thousand Euros in properties to be rehabilitated, over 30 years old.

However, with the new rules, only properties outside Lisbon, Porto and the coast (except Azores and Madeira Island) are valid.

Changes to the Golden Visa Portugal in 2022

In December 2020, changes were approved in the granting rules for the Golden Visa for real estate investment. Understand now the limitations of the program that will apply from January 2022 and what the transition period will be like.

It is not exactly the end of the Golden Visa in Portugal, but some changes that significantly affect the type of investment made in the country.

Therefore, properties purchased in Portugal and qualifying for the Golden Visa cannot be located in Lisbon, Porto and the coast (except Azores and Madeira Island). The government made this decision because most of the investments in real estate since the creation of the visa took place in these regions.

Now, the idea is to encourage real estate investment in less populated areas of the country, which until then received less attention from foreign investors. The government wants localities in the interior of the country and in the autonomous regions (Madeira Island and Azores Islands) to be privileged by those who want to buy a property in the country.

What is already known is that requests can still be made during the transition period. However, the investment values must be changed and the possibilities of obtaining a visa will be more restricted.

Therefore, if you are interested in acquiring Portuguese nationality in the purchase of real estate, it is best to hurry and do the process with Portuguese Nationality Assessoria so you don't run the risk of missing this opportunity.

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