Buying Property in Portugal as an American” is a dream that many are making a reality. Portugal’s stunning landscapes, warm climate, and relaxed lifestyle have made it a top destination for foreign property buyers, especially Americans.
However, purchasing real estate overseas can be a complex process, particularly if you’re unfamiliar with local laws and regulations.
In this blog post, we’ll guide you through the steps of buying property in Portugal, including the benefits of obtaining a Portugal Golden Visa and how to get Portuguese citizenship.
Whether you’re looking for a second home, a vacation property, or a place to retire, we’ll help you make an informed decision and ensure that your property purchase is a success.
Benefits of the Portugal Golden Visa
The Portugal Golden Visa is a residency program that allows non-European Union citizens to obtain a residency permit in Portugal by investing in real estate.
The program was introduced in 2012 and has been a success, attracting a large number of foreign investors to Portugal.
The main benefits of the Portugal Golden Visa include:
Access to the entire Schengen Area: As a holder of the Portugal Golden Visa, you have the right to travel, work, and live in any of the 26 countries in the Schengen Area.
Residency permit: The residency permit is granted for a period of two years and can be renewed every two years. After five years of continuous residency, you can apply for Portuguese citizenship.
Tax benefits: Portugal has a favorable tax system for foreign residents, with a flat tax rate of 20% on foreign-sourced income.
Steps to Buying Property in Portugal
Here are the steps you need to follow to buy property in Portugal as an American:
Find a reputable real estate consultancy: It’s essential to work with a reliable real estate agent who can guide you through buying property in Portugal. Your immigration consultancy should understand the local market well and be able to assist you with the necessary paperwork.
Choose your property: Once you’ve found a property that you like, you’ll need to make an offer and negotiate the price. Your real estate agent can assist you with this.
Make a payment of investment: After the agreement has been reached, it’s time to make your investment payment and transfer ownership of the property to you.
Close the deal: Once all the paperwork is in order, you’ll be ready to close the deal and take ownership of your new property in Portugal.
How to Get Portuguese Citizenship
After five years of continuous residency in Portugal, you can apply for Portuguese citizenship.
Portugal golden visa timeline
Application starts here
Get a NIF number,open a bank account € make your investment
Get your golden visa
You and your family get a two years valid care after submitting your fingerprints
Renew your residence permit
In these two years,you must have spent 14 days in portugal to renew your card
2nd renew or residence permit
With each renewal your residence permit will be extended for anothwer 2 years
Apply for citizenship
At the end of the fifth year,you can apply for Portuguese citizenship or permanent residency
With the benefits of the Portugal Golden Visa and the possibility of obtaining Portuguese citizenship, it’s easy to see why Portugal has become a popular destination for foreign investors.
By following the steps outlined in this guide, you’ll be able to purchase your dream property in Portugal confidently.
At Golden Port Visa, our expertise lies in the Portugal Golden Visa program, providing our clients with real estate and fund investment options.
Our team of seasoned immigration consultants is committed to ensuring your application is a success.
While other immigration consulting firms offer a variety of destinations and programs, our specialization in the Portugal Golden Visa program enables us to offer exceptional and tailored support to our clients.
Our thorough understanding of the complexities of the program, along with our close relationship with our clients, ensures a smooth process from beginning to end.