Follow Portugal Investment Immigration and Portugal Immigration news: The new investment immigration law in Portugal, which allows for residency in exchange for property purchases, known as the "Golden Residence" permit, has been in effect for one year. According to Portuguese statistics, as of early November this year, 248 Chinese citizens have been granted visas under this policy, accounting for nearly 80% of the total number of visas issued.
The Embassy of Portugal in China held a press conference in January this year, announcing that Chinese citizens can immigrate to Portugal by investing 500,000 euros in real estate. Since then, a group of Chinese investment immigrants have traveled to Portugal to purchase property in exchange for long-term residency permits in the country.
It is reported that 500,000 euros is the investment threshold; as long as the total value of the purchased properties exceeds 500,000 euros, the requirement is met. Therefore, just like buying a house in China, choosing the right property is crucial. Taking the capital, Lisbon, as an example, the average property price is approximately 2,500 to 3,000 euros per square meter, with premium renovations or prime locations costing more. Property tax in Portugal generally ranges from 0.3% to 0.8%.
According to Portugal's new immigration policy, investment immigrants only need to stay in Portugal for 7 days per year to meet the residency requirements. However, the entire application process takes about six months, so it is necessary to entrust a reliable real estate agent to handle the matters.