In the last two years, many European countries have introduced policies allowing residency through property purchase. On one hand, this attracts foreign investment to boost their domestic economies, and on the other, it provides a convenient path to Europe for high-net-worth Chinese individuals. Among these, investors considering Europe for their children's education or those with intentions to naturalize prefer Portugal's "Golden Residence Permit Program," which grants residency in exchange for a €500,000 property investment.
In August 2012, Portugal launched the "Golden Residence Permit Program," allowing citizens of third-party countries to immigrate to Portugal through real estate investment. Citizens of non-EU countries who purchase real estate in Portugal worth €500,000 or more, and who meet the residency requirement of a cumulative 35 days over 5 years, can apply for naturalization in the sixth year. Thereafter, selling the property does not affect their status, and their children can enjoy advanced European education.
Although Portugal launched this property-for-residency policy to attract investment and stimulate a sluggish economy, a European Union report indicates that the real estate market in this small European nation remains highly sought after. Many British citizens, when considering overseas property, typically prioritize Portugal. Due to the high demand from these prospective buyers, the Portuguese real estate market appears particularly vibrant compared to other sluggish European countries.
According to a partner at a Portuguese law firm, the Golden Residence Permit Program has been highly effective, with an increase in applications for Portugal, partly due to the relaxation of residency requirements. Obtaining residency status allows for free movement within Europe, which is highly attractive; children can attend school in Europe, and some individuals are also considering it for retirement. Real estate agencies in Singapore have noted that many Chinese citizens who sought to immigrate to Singapore but were declined are now turning to Portugal as an excellent alternative.
Portugal itself features a beautiful environment, fresh air, and a mild climate, making it a premier European vacation destination. Coupled with a relatively low investment threshold, flexible residency requirements, access to European educational resources, and a straightforward path to naturalization, it is highly favored by domestic investors. Many investors have even described Portugal's property investment immigration policy as highly cost-effective.
Recently, as a pioneer and leader in European real estate immigration, Worldway will be hosting a series of seminars on property investment immigration. Please call our consultation hotline at 400-138-2929 and stay tuned to the event notices on the Worldway website.
Shenzhen Office
European Real Estate Investment Immigration Seminar
Time: Saturday, March 22, 2014, 14:30
Location: 6th Floor, Excellence Times Plaza, Yitian Road, Futian District, Shenzhen
