INVESTORS seeking ways to hold assets in hard currencies need look no further than a holiday property in one of the world’s more beautiful tourism destinations and the expertise offered by the global cloud-based real estate group eXp.
Real estate brokerage eXp Portugal is part of eXp Realty, the world’s fastest-growing real estate company with more than 57 000 agents in 16 countries including South Africa, while Portugal’s golden visa programme is among the most popular property investment initiatives in Europe.
eXp Portugal managing broker Guilherme Grossman says since the golden visa programme was launched in 2012, it has been actively promoted internationally by the Portuguese government. To qualify, interested parties must invest in one or more properties with initial values of €500 000 or acquire one or more properties completed more than 30 years ago and located in urban rehabilitation areas to carry out urban rehabilitation works in line with the respective law, worth a minimum €350 000.
The investment gains a residency permit for a family including dependent children and the golden visa can be renewed every two years providing the applicant spends two weeks in the country every two years.
Full details will be outlined during eXp Portugal’s free South African online seminar on June 23, 2021 that forms part of a four-country property investor drive.
eXp South Africa managing broker Andrew Thompson says given its natural characteristics and economic and social stability, Portugal is one of the main destinations of interest for international investors including South Africans and strategically located as a gateway to the much-desired Europe. “Through the eXp revenue share programme, South African eXp property specialists can potentially use the golden visa programme as an anchor for expanding their networks – recruiting agents in Portugal able to use the investment opportunity to boost their teams,” he says.
Thompson says agents earn income through commissions, revenue share for growth and equity incentives and awards. They can also earn through third party agreements with banks, bond originators and relocation specialists offering to pay fees in which the agents receives the full amount.
Particularly attractive to potential investors is the suite of services eXp Portugal offers given their range of stock. From the capital Lisbon to the coastal resort town Cascais to the west, Porto on the Douro River known for its port-producing wineries or the Algarve, the country’s southernmost region known for its Atlantic beaches and golf resorts, eXp Portugal has a property portfolio to suit every client’s demands.
Thompson adds in selecting South Africa, Brazil, India and the US for the initial seminars, eXp Portugal is reflecting the high demand and interest Portugal arouses in local investors. The webinars will promote Portugal not only for its intrinsic characteristics that leave no-one indifferent about its opportunities, but equally for the economic, social and fiscal conditions that make the country the perfect investment destination.
Hosted by Grossman, Thompson and golden visa specialist Francisco Patricio from law firm Abreu Advogados, the event will feature projects and properties falling within Portugal’s property programme. Grossman and Patricio will outline the legal requirements for obtaining gold visas to ensure interested parties can understand why investing in Portuguese real estate is a golden opportunity.
Thompson says beyond the investment opportunities, gold visas grant one-year residency permits renewable for two successive periods of two years for the individual and his/her direct family members. This title presupposes maintaining the investment for a minimum five years and permanence in Portuguese territory of seven days (consecutive or interpolated) in the first year and 14 days (consecutive or interpolated) in the subsequent two-year periods.
After five years, investors can apply for permanent residency and after six years apply for Portuguese nationality via naturalisation.
Interested parties and media can register at https://expglobal.partners/golden-visa-webinars/ for information relating to the webinar link.
South African webinar information:
South Africa – Wednesday June 23 at 18:30