Do all investors get involved in getting golden visa of Portugal for obtaining passport of Portugal in the end? A lot of them do. The marketing advantage of Portugal’s golden visa for the purchase of real estate has long been statement – “in 5 years you will come for 35 days and this is enough for naturalization.” And then you get to know that there is a requirement for knowledge of the language level A2. It is “I can order beer in a restaurant” kind of level.
Portugal Golden Visa by investments is an official Portugal government program, enacted on 8th Oct 2012.
Nevertheless, passport of Portugal (citizenship) may not be granted if authorities decide that the investor does not have sufficient ties with the country. This is exactly what is happening now with applicants for Portuguese citizenship. And here there are options: either take risks by collecting tickets from local events, buying membership in gyms, or becoming a resident of Portugal, live most of the year.
“If you choose to obtain Golden Visa via any Permanent Residency by Investment program, you will get a visa. No one can promise you, being an honest agent, that then, almost without living in the country, you can get citizenship, and even guaranteed. Moreover, Permanent Residency is a temporary status. It may not be extended, if local authorities will change their policy for any reason. Now we see that many countries in Europe intend to exercise such a right – not to extend the Permanent residency to citizens of some countries. But the program of investment citizenship is totally different option. You will be a citizen via naturalization. Now only Montenegro has such a program in Europe. And only till the end of 2022. And Malta, for example, has a very expensive Permanent residency program with the possibility to become a citizen in year and a half whereas via Montenegro CIP investor will get a passport in about 6 month” – says Nuri Katz, Founder and president of Apex Capital Partners, licensed agent of many Caribbean and Montenegrin CIPs.
For the last year and a half, American participation (19,9% of the total last year) in Portugal’s golden visa program and the share of applicants who choose fund investment have both risen sharply. Let’s look closer to investment option in development project.
LAPA PORTO Renaissance Hotel by Marriott, Porto
Lapa II Hotel 4* will be an expansion of Lapa Porto Hotel. Located in one of the most historical neighborhoods of Porto, right in the gateway to downtown, within the largest park in the city center. Dominating the landscape, on the top of a hill, the Hotel offers a breath-taking view over the city skyline.
It has been projected under one solid concept: inspiring shapes, simplicity and elegance, combined with high-end engineering. It will have the largest Park and conference room of the city center in Porto.
76 rooms, 4 floors, expected Completion date — 4Q of 2024.
Share in a brand hotel — €350 000. Guaranteed annual profitability 3%. Mandatory share repurchase on our part after 6 years, at the same amount of investment.
How fast does investor get a Golden Visa of Portugal?
It would take about 10-12 month to get that Permanent Residency visa (card) aka Golden Visa and be allowed to use it. The first stage is to open an account with a Portuguese bank and receive an individual tax number. Here is when you must undergo compliance procedure. It will take about 2 months for immigrational service (SEF) to check all the papers and make a decision. All could be done remotely but investor and his dependents must visit Portugal by appointment to do biometrics. And then it’ll take 8-9 more month to issue a Golden Visa card and send it to the investors and his family address.
Please note that to the declared investment amounts government fees will be added and the cost of legal accompanying the process of obtaining of Golden Visa.
This investment allows investor to apply for Permanent Residency visa (card) aka Golden Visa. Make request for more details — atannous@apexcap.org
