One of the most affordable pathways to obtain Portugal’s Golden Visa is via investment in residential or commercial properties.
The required real estate investment amounts range from as low as €280,000 to €500,000. The price of an investment can fluctuate quite a bit from one region of Portugal to another, and the type of property – residential vs. commercial.
The Portuguese government makes a clear distinction between “low-density” and “high-density” as well as “interior” and “coastal” areas in Portugal that are eligible for Portugal Golden Visa Investment.
In this article, we want to bring you up to date with eligible real estate investment areas in Portugal, so you can choose which option best suits your budget and investment goals.
Portugal Golden Visa Investment: Residential vs. Commercial Properties
Portugal's Golden Visa program allows you to invest in residential or commercial real estate objects. You can choose between 3 options:
- Purchase commercial property anywhere in Portugal for €500,000 (or €350,000 for a restoration project). If the commercial property is located in a "low-density" region, a 20% discount is applicable.
- Invest a minimum of €500,000 (or €350,000 if investing in a restoration project) in an inland residential property in Portugal. If the property is located in a "low-density" zone, you may get a 20% discount on €500,000 (full value) or €350,000 (rehabilitation project).
- Invest at least €500,000 in residential or commercial property in the Portuguese islands of Madeira and Azores, or €350,000 in a restoration project. These islands do not qualify for a discount since they are considered “high-density” zones.
As seen from all three options, the Portuguese government favors “low-density” areas, so investors who choose to put their money there get a 20% discount.
Note: The full investment amount (€500,000) or the restoration project investment amount (€350,000) apply to both commercial and residential properties. Now, if the property is in a low-density region and no other limitations apply, you may be eligible for a 20% reduction on any of those figures. To illustrate, a discount of 20% off €500,000 is €400,000, while a discount of 20% off €350,000 is €280,000.
But what exactly is a “low-density” area, how is it different from “high-density” regions, and what is the most optimal investment route? Read on as we elaborate on these terms.
Portugal Golden Visa Map 2024: Low-Density vs. High-Density
“Low-density” investment zones are places in Portugal with less than 100 inhabitants per square kilometer or a GDP per capita that is less than 75% of the average for the country.
As you can see from the map, “low-density” areas are primarily inland, except for the southern part of Portugal. If you choose to invest in these regions, you can obtain a 20% discount.
Meanwhile, “high-density” areas where most of the Portuguese population lives (for example, cities such as Lisbon and Porto) do not qualify for the discount and require a full investment. Likewise, Portugal’s islands – the Azores and Madeira – also fall under the “high-density” category.
Additional Considerations
Portuguese authorities make further restrictions on the Golden Visa investment areas that you must be aware of before deciding the best route for yourself.
For instance, certain parts of Portugal, such as Lisbon and Porto, and the coastal towns between the two cities are only eligible for “high-density”, commercial investment, meaning you can neither obtain a discount nor invest in a residential property.
Another example would be Faro – a southern city in Portugal. As the above map demonstrates, it is located in a “low-density” area (you get the 20% discount), but only commercial investments are allowed.
280K Portugal Golden Visa Investment Amount: Which Area?
To take advantage of the discount and purchase either residential or commercial property for the cheapest amount (€280,000), you should invest in
- Commercial rehabilitation project that is part of the “low-density” area, OR
- Residential restoration project in “low-density” and interior parts of the country.
Conclusion: Due Diligence is Key
Although lower real estate investment amounts are enticing when it comes to securing your Portugal Golden Visa, you must carefully evaluate which option will yield the best returns and have fewer risks.
Not sure where to start? Talk High Net Worth Immigration team that has helped hundreds of individuals like you secure residencies and citizenships via different investment pathways. We can carefully analyze your case and propose the most suitable Golden Visa program perfectly aligned with your unique needs and circumstances.
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