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South Africa's Interest in Portugal

South Africa's Interest in Portugal

Portugal has been popular for many years with a small group of 'in the know' foreigners for its quality of life, peacefulness, year round great weather, not to mention fresh food and award winning wines. This interest has been primarily from surrounding Europeans, however the county's new Golden Visa Programme is spreading word much further with investments from China, Brazil and now increased interest from South African property investors as well.

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The Golden Visa Programme allows overseas investors from non-European Union countries to obtain a fully valid residency permit in Portugal and ultimately, European Citizenship, provoking a keen interest in South African investors.

To qualify, the investment can be in the form of a property purchase with a minimum value of €500k, a capital investment of at least €1 million in a Portuguese company, or by establishing a Portuguese company that employs at least 10 people.

For many of our South African offshore buyers in Portugal, acquiring citizenship for their children is a key factor, as it provides them with access to broaden their horizons with a wide range of schooling and career opportunities in Europe.

During the past four to five months over 30 South Africans have already taken up this opportunity, mostly in the €500k to €600k price range.

The process is relatively simple, and as soon as the sale is concluded the acquisition of Schengen rights can be achieved in a few months. Residency is then obtained, initially for one year and then renewable every two years. After a period of just five years you qualify for permanent residency.

Applicants can also apply for a family reunion visa in order that family members are granted a Portuguese Permit, which will allow them to work freely in the EU.

Rich in history and culture, Portugal is on the rise as a global tourism destination, with its many world known championship golf courses, golden beaches and gastronomical delights.

The capital city of Lisbon is one of the oldest in the world, enjoying one of the warmest winters in Europe that has featured prominently in foreign investment. The Algarve, in the south of the country, has a Mediterranean type climate with mild winters and long hot summers, has also seen increased investment in holiday homes and rental investment properties.



 

 

 

 

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