Real Estate Purchase
When investing in real estate, there are a couple of parameters that investors must consider before purchasing real estate. To be eligible for the Portugal Golden Visa, applicants must purchase real estate for €350,000 or more if the residence was built more than 30 years ago and is located in a designated restoration area. If the property sits in an area of low population, the overall cost can be reduced to €280,000.
To purchase a residence in a new area, the minimum sale price must be €500,000. If the residence is in a sparsely populated area, the investment can be reduced to €400,000. After 5 years, the property can be sold and the investment can be returned to the investor.
On top of the initial real estate investment, applicants must pay transfer tax which is 6%-8% of the property value, stamp duty, and annual property tax, which are 0.8% of the property value and 0.4% of the property value respectively. Additional fees include medical insurance, which is €400 per person, the application fee of €533 per person, and the residence permit card fee which is €5,340 per person.