There is no limitation to the types of land, whether geographic location, use and size. You can buy several lots worth less than 500,000 euros, provided that the total of the value of all the land adds up to 500,000. Yes, empty land for future construction or commercial properties is eligible.
Are there any limitations to the types of land I can purchase for a Portuguese Golden Visa?
I am curious if I can buy empty plots of land and develop them someday to get a Golden Visa. Or does the law restrict real estate purchases to pre-existing buildings or structures? What about commercial property? Are those eligible?
The type of property will be set at the minimum amount necessary for the visa. The standard investment for a Golden Visa is 500,000 euros (it’s not restricted to one property of 500,000). For example, you can invest in five properties at 100,000. You will be eligible for the Golden Visa as long as the amount surpasses 500,000. If the property (building) has more than 30 years or the city council includes its area in their “reshaping zone” (restoration), the minimum amount goes down to 350,000. If the property is on a zone called “low density area,” the minimum investment reduces 20%. Commercial properties are not excluded.
There is no restriction on the type of property, provided that the type of investment is at least 500,000. It is possible to purchase land or a commercial property and, in compliance with the above mentioned minimum value, promote the submission of the application for obtaining a resident permit for the investment activity. Regarding the type of investment in real estate but in the amount of 350,000, there are the following restrictions: the Unit or Building construction dating back more than 30 years or located in urban regeneration areas; a need to carry out rehabilitation/refurbishing works.
There is no limitation on the type of land or properties (commercial or habitational) you can purchase. In Portugal, we have no limitation on the investment done by foreign investors and there is no limitation with the ARI (Golden Visa) program either. You just need to comply with the amount and time necessary for the application. Yes, you can buy land plots and develop them.