When the golden visa is no longer valid, will it still be possible for non EU investors to purchase property in Portugal if they don’t intend to use it for a golden visa; just as an investment? Or will there be restrictions on that as well?
The application for a residence permit is not a mandatory criterion for one to purchase real estate in Portugal as an investment objective. Therefore, foreigners are free to purchase any property in Portugal. The only mandatory criteria for this matter are to attain a Tax ID and a bank account in Portugal.
It is possible to acquire a property normally, even after the end of the Golden Visa. The proposal to restrict the acquisition of real estate by foreigners is facing strong opposition. Furthermore, the European Commission has stipulated that for a Member State of the European Union (EU) to be able to limit the purchase of houses by non-residents (foreigners), there must be "overriding reasons of general interest" recognized in the case law of the Court of EU Justice (CJEU). The important thing is to always be accompanied by a lawyer to help you and confirm that there are no impediments at the time of acquisition.
Purchasing property as an investment is, and will still be, possible in Portugal, regardless of the Golden Visa being active or not.
First of all, I need to remind you that, at the moment, we just have a proposal to end the Golden Visa, so we don’t know exactly the accuracy and the terms of this ending until we have a published law. Until this happens, Portuguese law stands. However, considering the end of the Golden Visa and the information we have now, there are two options: (i) If non-EU citizens want to purchase property in Portugal and want to get a residence visa, they’ll need to relocate to the country with another kind of visa. (ii) On the other hand, if they don’t want to relocate to Portugal and they only want to purchase a property, they need to have a Portuguese tax payer number and a bank account in Portugal.
Yes, it is possible. In Portugal, all citizens from EU and non-EU countries are free to purchase property and do business in Portugal without the need of applying for any residence title. There are no restrictions to acquiring any type of property. It is possible to purchase property for pure investment purposes and in the future, if the owner decides to apply for residency, this would be helpful for the application.
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