Portugal, an ancient country with many charms
Portugal is one of the oldest European countries. This country hosts a large number of tourists every year due to its many tourist attractions. On the other hand, Portugal’s special conditions for attracting immigrants have made this small country a paradise for receiving European residency.
What is the program for obtaining residence by buying a property in Portugal?
A few years ago, the Portuguese government introduced a program to buy property in exchange for residency. In this way, a foreigner can obtain Portuguese residency by investing 500,000 euros in real estate. This program has turned Portugal, along with Greece, into a paradise for Iranians. Because in this way there is no need to stay permanently in Portugal. Also, there is no requirement to master the language or have a specific educational qualification.
How much does it cost to buy a property in Portugal?
Portugal property purchase program along with Spanish investment residence has provided the best conditions for proper investment. The minimum capital required to buy a property is nearly 300,000 euros. Of course, this cost is only for the purchase of the property. Below we have a look at the most common property prices in Portugal.
Different neighborhoods with different prices
The city of Lisbon is usually one of the first choices of applicants to obtain residency in Portugal through the purchase of property. The prices of neighborhoods in this city are different from each other. Factors such as proximity to the city center, access to the subway and the type of building affect the price. But you can buy a 120-meter apartment for between 300,000 and 350,000 euros. But in more expensive neighborhoods like Tomar, it is possible to buy a property at a price of 400-450 thousand euros.
Applicants must first travel to Portugal as a tourist. After consulting with real estate consultants and visiting the available real estate projects, proceed to purchase the property. The seller prepares the purchase contract at this stage. The buyer also receives a tax code by visiting the tax offices. Through this code, it is possible to transfer property money to the seller’s account. After completing the purchase, the insurance, lawyer and documents fees must be paid separately.
After how long do we get Portuguese residency?
Those who are looking to buy a house in Portugal are usually faced with the question of how long it will take to obtain residency. People who buy property first obtain a temporary visa. After 5 years of residence, it is possible to obtain a permanent residence in Portugal.
Can everyone buy property in Portugal?
The Portuguese government has not set any special conditions for the purchase of property. In fact, everyone who can afford to buy a house in Portugal can easily buy a property in this country. On the other hand, the 5-year period for granting permanent residence is more so that the applicant can fully familiarize himself with the Portuguese culture and easily communicate with the people.
A look at the pros and cons of buying property in Portugal
Buying property in Portugal has many advantages. In this way, temporary residence can be easily obtained. On the other hand, you can travel to all European countries with a Portuguese visa. Also, Orange is a country with a pleasant climate to live in, which can promise a new life. But staying by buying property in Portugal has its disadvantages. This method is not suitable for everyone because it is expensive. On the other hand, the applicant must learn the language of this country to live in Portugal, which may not be easy for everyone. In this article, we examined the conditions for buying property in Portugal and obtaining residence. This method has many attractions and can easily lead the applicant to a permanent European visa.
