The Golden Visa program allows super-wealthy individuals to quickly and easily apply for a European residence permit by the investment of a particular amount of money in certain countries’ projects. However, you don’t
have to own an eight-figure dollar bank account to take advantage of such an offer available, for example, in Portugal. An EU residence permit is available for applicants investing EUR 280,000 in the property development approved by the Portuguese authorities. For example, your acquisition of a share in some hotel property in Portugal can qualify for the Golden Visa program granting you many benefits. The program is a limited-time offer (valid till 2022).
Our experts are ready to discuss with you the opportunities mentioned in this article. You can send us your questions and take advantage of our professional services to save your time and help you meet the requirements. Please contact us at the e-mail address given at the top of this page.
How do frequent travelers get their worldwide visas to travel, reside, do business abroad?
Most people spend much time filing applications at visa centers and consulates. Sadly enough, since the nearly global lockdown was imposed as a response to the pandemic, even visas do not let them travel freely internationally. They get trapped in their places of residence, while other countries allow only their nationals to cross the borders.
Other applicants apply for foreign residence and/or citizenship granting visa-free access to over 100 countries. They do not just buy such permits or passports but invest in immigration programs. Such investments are reasonable and feasible for applicants with higher income or savings. Thus, they help the host jurisdictions raise funds and accomplish development projects. That is why such investors are well-received and their applications are awarded special status.
Investment immigration programs offer a quite efficient solution for several jurisdictions across the world that aspire to greater financial autonomy, economic growth, and the influx of foreign investment. Investment immigration is also an invaluable tool for international investors and entrepreneurs seeking to hedge against volatility or resolve other issues by equipping themselves with passports and permits for global mobility.
Demand for investment immigration programs is now at an all-time high due to the undeniable benefits provided to beneficiaries, including the opportunity to quickly leave their home jurisdictions in case of a local crisis, global instability, health issues.
The Golden Visa (economic residency) programs grant residence permits through non-residents’ direct investments. It is among the most popular immigration products in the global market.
According to statistics from the Portuguese agency SEF (Immigration and Borders Service), the Portugal Golden Visa has brought the country more than EUR 5 billion since 2012. To obtain a residence permit in Portugal, investors need to comply with certain financial requirements. The options are summed up below:
- invest at least EUR 250,000 in national art, heritage and culture;
- perform a bank transfer in the amount of EUR 1,000,000 for depositing funds in a Portuguese bank (on January 1, 2022, this amount will increase to EUR 1,500,000);
- invest at least EUR 280,000 in the refurbishment of some real estate (older than 3 decades) located in a low-density/underdeveloped economy area;
- invest at least EUR 350,000 in the refurbishment of real estate (older than 3 decades) in other parts of the country;
- invest at least EUR 400,000 in a relatively new property located in a low-density/low-growth area;
- invest at least EUR 500,000 in relatively new properties in other parts of the country;
- invest at least EUR 350,000 in investment funds, research, existing/new business + 5 full-time jobs for the locals (from January 1, 2022, the amount will increase to EUR 500,000).
According to SEF statistics, investments in real estate in Portugal to obtain a residence permit are the most popular method of obtaining a Golden Visa. It is not necessary to buy the whole property: co-ownership, i.e. the purchase of a share is sufficient. Moreover, besides housing property, it is allowed to invest in commercial real estate.
Please note that from January 1, 2022, housing in several regions of the country will be excluded from the list of assets, the purchase of which allows you to qualify for a residence permit in Portugal. This restriction does not apply to commercial real estate, for example, hotels.
Taking into account the above facts, we recommend that you should consider the possibility of investing EUR 280,000 (the lowest possible price in the real estate market) in commercial real estate in Portugal for getting a residence permit. Let us give you an example of such property – a share in the Alentejo Marmoris Hotel & Spa in the village of Vila Viçosa known for its rich historic heritage.
Alentejo Marmoris Hotel & Spa: a chance for your hotel co-ownership in Portugal
The exclusive, luxurious, unique 5-star Alentejo Marmòris Hotel & Spa, a member of Small Luxury Hotels of the World, is located in Vila Viçosa, Alentejo region in the central and southern part of Portugal. It is more than just a hotel.
The village of Vila Visosa, known as the Princess of Alentejo, is nested 180 kilometers from Lisbon and 60 kilometers from Evora. It is an excellent site for investing in real estate in Portugal to obtain a residence permit.
The hotel features 44 rooms and suites, offers a wide range of services, including a luxury spa center, a gourmet restaurant, a stylish snack bar, a rich wine cellar, conference rooms, and a private garage. Guided tours are also available to picturesque nature spots, historic and cultural attractions. Let’s look at the complex in detail:
- Restaurant: Daffodil Fernandesii—the restaurant’s name is after a common flower in the area. In the ‘Sacred Land of Bread’ of Alentejo, farmers harvest first-class crops and supply high-quality products grown in the land and fields near the town of Vila Vicosa. These ingredients are used by the chefs of Narcissus Fernandesii in dishes and culinary delights that they cook with passion and creativity. Guests enjoy a variety of unforgettable culinary delights served at the restaurant in a refined manner.
- Snack bar: At the Kallipolle SnackBar, guests of the hotel complex can find an extensive menu designed in the authentic local style associated with the history of the region. Enjoy snacks in a relaxed atmosphere, while appreciating the exquisite quality of the Alentejan service.
- Spa center: A modern Stone Spa center operating under the brand name of Bruno Vassari is designed in a natural marble quarry. This spa facility is famous for its vinotherapy and the atmosphere of tranquility and serenity. The spa has 4 treatment rooms, a hammam, heated hot tubs, indoor and outdoor heated pools. There is also a gym.
The architecture and interiors of the Alentejo Marmòris Hotel & Spa *****, part of the Small Luxury Hotels of the World chain, seem to be a special tribute to the quality of Portuguese marble and can be called a real museum of this building material.
The co-ownership of this hotel, the purchase of its share, allows you to get a residence permit from Portugal. It can become a starting point for exploring this vast European territory full of rich cultural heritage: medieval castles, beautiful churches, large lakes, real palaces, very high-level wineries, and gastronomic highlights. It will also be your pass to the EU states and many other countries worldwide.
Rooms at Alentejo Marmoris Hotel & Spa: an attractive property for hotel co-ownership in Portugal
Classic Double / Twin Room
Classic rooms ranging from 26 to 27 square meters are located on the 1st floor of the building, with city views, no balcony. The interior design of these rooms adds to the feeling of serenity and luxury.
Deluxe Double / Twin Room
Deluxe rooms ranging from 26 to 33 square meters are located on the ground floor, 1st and 2nd floors of the building. Rooms with a balcony overlook an inner patio. Additionally, rooms with pool views are available, but without a balcony.
Rooms of this category also referred to as Superior Deluxe, are located on the ground floor, 1st floor of the building, with an area between 26 and 33 square meters. They have balconies and overlook the pool. Guests enjoy both the comfort and the modern design of the interior. Each room is different, due to the variety of bathroom designs and marble finishes in different colors.
The Junior Suites are located on the ground floor, with an area of 36 square meters, a terrace overlooking the pool/patio. Comfortable rooms with a cozy atmosphere and modern design create a sense of tranquility and well-being. The Junior Suites are additionally equipped with exclusive amenities from Portus Cale (a Portuguese premium brand of high-quality bath fragrances, body, and home care products). A unique feature of the Junior Suite is the romantic bath installed right in the room.
Family Suite (2 adults + 2 children)
The Family Suites are located on the 1st floor, offering scenic views of the square. Rooms with an area of 52 square meters provide convenience and comfort, offering a cozy atmosphere and modern design, giving a sense of a relaxing retreat and happiness. Each Family Suite includes a living room and a bedroom separated by a door, thus allowing guests to use them as 2 independent spaces. Suites are also equipped with a coffee machine. The bathrooms feature a variety of interior details, including marble in different tones.
Exclusivity. Space. Refinement. Arabic Suite/Suite 1001 is a room that stands out significantly from the rest of the hotel’s offerings due to the architecture with an Arab touch. A night in a room like this guarantees sweet dreams. A magnificent space with additional comfort: the master bedroom with a king-size bed, a living room, exclusive amenities, a coffee maker, two bathrooms, and a private area.
Planning your investment in the hotel co-ownership for obtaining your European residence permit in Portugal
The investment in the hotel described above meets the requirements of the Portuguese Golden Visa program for foreigners (ARI / Autorização de Residência para Atividade de Investimento).
The total investment of 21 million euros is divided into 75 parts (EUR 280,000 per share). The purchase of one share is sufficient for obtaining a residence permit in Portugal. The entire property project offers the following terms of investment:
- 75 investors will act as co-owners of this commercial real estate. The co-ownership concept is for the entire hotel complex, including condominiums, a restaurant, and a spa.
- The investor and the investor’s family members are offered the opportunity to stay free of charge in one of the hotel rooms for 7 days annually.
- Guaranteed income of up to 4% (from the first full 12-month period of operation of the hotel).
- 100% refund to investors abandoning the project.
- Official registration of the title document covering the purchased share.
- The owners have the right to resell each of the 75 shares individually at any time.
- Exemption from IMT and IMI (property taxes).
The following table shows the process of investing in real estate in Portugal under a residence permit (Golden Visa) program. It includes the five main steps. Each step must be completed before moving on to the next one.
|Stage 1: Preparation (1 month)||STEP 1: Visit the Portuguese diplomatic mission (embassy/consulate) in the state of current residence/citizenship to confirm the completeness of the list of accompanying documents. STEP 2: Transfer the sufficient investment amount and applicable fees for obtaining a residence permit in Portugal. At this stage, you need to pay for the due diligence service and the applicable administrative fees.|
|Stage 2: Residence permit (4-6 months)||STEP 3: Transfer of documents confirming the fulfillment of investment obligations and payment for the service of applying for a Golden Visa online (executed by the hired law acting based on a Power of Attorney).STEP 4: Travel to Portugal for 2 business days to provide biometric data.STEP 5: Approval of the application and payment of fees for granting a temporary residence permit (executed by the hired law acting based on a Power of Attorney).|
|(Optional) Stage 3: Permanent residence and citizenship (5 years)||STEP 6: Apply for permanent residency OR Portuguese citizenship after you have been a temporary resident for 5 years meeting the relevant legal requirements ( including a language exam when applying for a passport).|
More about Vila Viçosa
Before you apply for a residence permit in Portugal by investing in the hotel described above, we recommend that you learn more about the city of Vila Viçosa. This locality is rightfully considered the ‘pearl’ of Alentejo, a real open-air museum.
|Distance, kilometers||Travel time, hours|
Unsurprisingly, Vila Viçosa was often included in the dowry of royalty. Dona Brites, the wife of King Afonso IV, was the first to receive this settlement as a wedding gift. It was later gifted to Leonor Teles, the queen consort of Portugal by marriage to King Fernando. The settlement was later given as a present to Nuno Alvarez Pereira, the heroic general of King Joao I.
Those who would like to invest in real estate in Portugal under a residence permit will certainly appreciate the fact that the city has many natural and man-made attractions. The rich cultural heritage of Vila Viçosa has been continuously expanded and improved over the centuries by skilled craftsmen who have always drawn inspiration from the surrounding natural beauty.
In today’s industrial age, nature is still the driving force behind the production of fine marble products that have been the backbone of the local economy for centuries. Vila Viçosa will satisfy the most demanding tastes. The streets of the city are rich in stunning churches, monasteries, and palaces. Interestingly, in the nearby royal hunting grounds of Tapada Real, wild boars and deer run freely.
The area of Vila Viçosa was populated yet in ancient times. It is known for certain that in the era of the Roman Empire, a small settlement was located on the site of this modern city. This region was originally part of the Kingdom of the Visigoths, and in the eighth century came under the control of the Moors after the Muslim conquest of Spain. Moorish rule ended in 1217 when the region was recaptured by the military chivalric Order of Aviza, which returned most of Southern Portugal to the Christians.
In the 20th century, marble mining and tourism became the main sources of income for the local municipality. Agricultural production is also important for the local economy. At the peak of the industry, marble mining and processing accounted for about 93% of the jobs in the municipality.
Since the early 2000s, the displacement of material production outside of Europe and the decline in demand for natural stone have weakened the local marble industry. Fortunately, tourism continues to thrive. This is a guarantee of promising returns on investment in hotel real estate for clients seeking residence permits in Portugal.
Expert support to applicants for the EU Residence Permit by investment in hotel co-ownership in Portugal (the Vila Viçosa option)
To get a residence permit in Portugal through investment in hotel co-ownership as quickly as possible and without unnecessary problems associated with traveling abroad, paperwork and formalities, you are welcome to resort to the services of the InternationalWealth team.
Our experts offer you a private online consultation to discuss your needs and specific aspirations, resources, and options. This will give you a better awareness of the opportunities, and our experts will be able to design for you a customized proposal and contact you with our Portuguese colleagues for further steps.
For more information, please refer to us at the e-mail address given at the top of this page right now!
What is the Portugal Golden Visa?
The Golden Visa program allows you to get a residence permit in Portugal by making a local investment in a certain amount. Your European resident permit issued in Portugal will open visa-free access to all 26 countries of the Schengen zone and all associated opportunities. The residence permit is subject to be renewed after 1 and 3 years. After holding the official residence for a period of 5 years, the beneficiary is granted Portuguese citizenship (please note that it is required to pass a language test and stay in the host country for 35 days for the entire period of naturalization). A residence permit is issued after verification that the applicant has no criminal convictions. Please look up our articles for more details of advantages, requirements, expert services.
Who are the target clients of the Portugal Golden Visa program?
The program is intended for citizens of countries located outside the European Union and the European Economic Area who want to take advantage of easy access to Portugal and the EU – for private or business reasons.
How popular is Portugal Golden Visa?
Since the launch of the program in 2013, about 9,000 residence permits have been granted, which has led to an influx of direct investment in the total amount of approximately EUR 5.4 billion in the real sector of the Portuguese economy. Investments were mainly directed to the real estate sector, which contributed substantial support to the restoration and development of urban communities (for example, the completion of many new buildings).