Baluarte
03-30-2013, 11:11 AM
Asian buyers attracted by Portugal’s new visa for property investment scheme
FRIDAY, 29 MARCH 2013
The decision by Portugal to follow Spain and grant visas to property investors from outside the European Union is expected to help boost the real estate market.
It will mean that non EU citizens investing a minimum of €500,000 in a property will be granted a five year residency permit.
The Portugal residency permit allows the holder to work or study and free travel in Schengen countries. Holders also will have the option to apply for permanent residency after five years.
There are conditions attached including buying the property before making a visa application and properties must be bought free of any charges or mortgages.
There has already been considerable interest from Asian buyers, especially the Chinese, according to real estate agents and the first visa has already been granted to a business man from India who has invested in three hotels in Albufeira.
Pine Cliffs Resort, the luxury gated development on the Algarve Coast, owned by United Investment Portugal, has received numerous enquiries from Chinese investors, many of whom have already confirmed their interest and are moving forward with the acquisition process.
‘We anticipated that the golden visa would boost investments made by non EU citizens and this is already evident from the increasing amount of enquiries we have received. We also have a number of investors from Beijing, Hong Kong and mainland China who have arranged to visit and we expect this to increase further over the coming months,’ said Carlos Leal, general manager of UIP.
‘We have beautiful beaches and year round sunshine, but Portugal and the Algarve offers much more than that with excellent food, leisure and culture as well as a safe environment to bring the entire family. We have something for everyone,’ added Leal.
Pine Cliffs offers lifestyle, leisure and investment opportunities and has won over 30 awards for its hospitality, beach, hotel and leisure facilities.
It is built on 72 acres of land overlooking the Atlantic Ocean and comprises of a range of accommodation in which to invest, including apartments, contemporary terraces and gated villas.
At the heart of the development is the Sheraton Algarve hotel and Pine Cliffs Residence which is managed by the luxury brand, The Luxury Collection, which is part of one of the world’s leading hotel groups, Starwood Hotels & Resorts Worldwide.
Prices range from €725,000 for residence apartments, to €1.65 million for terraces and €4.5 million for gated villas.
FRIDAY, 29 MARCH 2013
The decision by Portugal to follow Spain and grant visas to property investors from outside the European Union is expected to help boost the real estate market.
It will mean that non EU citizens investing a minimum of €500,000 in a property will be granted a five year residency permit.
The Portugal residency permit allows the holder to work or study and free travel in Schengen countries. Holders also will have the option to apply for permanent residency after five years.
There are conditions attached including buying the property before making a visa application and properties must be bought free of any charges or mortgages.
There has already been considerable interest from Asian buyers, especially the Chinese, according to real estate agents and the first visa has already been granted to a business man from India who has invested in three hotels in Albufeira.
Pine Cliffs Resort, the luxury gated development on the Algarve Coast, owned by United Investment Portugal, has received numerous enquiries from Chinese investors, many of whom have already confirmed their interest and are moving forward with the acquisition process.
‘We anticipated that the golden visa would boost investments made by non EU citizens and this is already evident from the increasing amount of enquiries we have received. We also have a number of investors from Beijing, Hong Kong and mainland China who have arranged to visit and we expect this to increase further over the coming months,’ said Carlos Leal, general manager of UIP.
‘We have beautiful beaches and year round sunshine, but Portugal and the Algarve offers much more than that with excellent food, leisure and culture as well as a safe environment to bring the entire family. We have something for everyone,’ added Leal.
Pine Cliffs offers lifestyle, leisure and investment opportunities and has won over 30 awards for its hospitality, beach, hotel and leisure facilities.
It is built on 72 acres of land overlooking the Atlantic Ocean and comprises of a range of accommodation in which to invest, including apartments, contemporary terraces and gated villas.
At the heart of the development is the Sheraton Algarve hotel and Pine Cliffs Residence which is managed by the luxury brand, The Luxury Collection, which is part of one of the world’s leading hotel groups, Starwood Hotels & Resorts Worldwide.
Prices range from €725,000 for residence apartments, to €1.65 million for terraces and €4.5 million for gated villas.