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Can I use old properties to attend the Golden Visa program?

I inherited a property in Lisbon owned by my late father. We did several renovations on it and I think its current value might go beyond 350,000 euros. Can I use this property to apply for the Golden Visa program?


Answers
  • N-Advogados
    March 31, 2020

    You must purchase of real estate property with a value equal to or above 500,000 euros or purchase of real estate property, with construction dating back more than 30 years or located in urban regeneration areas, for refurbishing, for a total value equal to or above 350,000 euros.

  • Lamares, Capela & Associados, Sociedade de Advogados, SP, Rl
    March 30, 2020

    The possibility of obtaining the Golden Visa through this investment depends on several factors. You would have to acquire the property. The construction would have to have been completed at least 30 years ago or that the property is located in an urban rehabilitation area. Carry out the rehabilitation works of the acquired property, for a total amount equal to or greater than 350,000 euros. As there is no payment, nor a through investment regarding the acquisition of the property from the previous owner, in this case, because you have inherited it, it seems to me that this is not considered as an investment for the purpose of obtaining the Golden Visa. However, this situation would always have to be analyzed in the specific case.