What do famous singer Madonna, well-known billionaire Amancio Ortega, iconic star Bonnie Tyler, trendsetter Christian Louboutin and Hollywood top actress Scarlett Johansson have in common? They all live in Portugal. Someone in the very center of Lisbon, and someone in the silence of a cozy village.
Portugal is the home of world stars
Madonna chose Lisbon and the luxurious Palácio Ramalhete for herself.
The richest man on the planet in 2015-2016, Amancio Ortega, also invested in real estate in Portugal for many years. Moreover, he chose this country to open the first overseas store of his legendary company Zara.
And Christian Louboutin has three houses in Portugal. One is in Lisbon, the second is in coastal Melides, and the third is in the famous Comporta district, the home of the Portuguese intelligentsia.
The ever-young pop star Bonnie Tyler has been vacationing for over thirty years at her home on the Atlantic coast, in Albufeira, the famous place for its beaches all over the world.
Scarlett Johansson lives in the most attractive area of Lisbon — Principe Real. This area astonishingly combines peace and quiet with modern clubs and new restaurants.
House in Portugal
House prices in Portugal have continued to rise for ten years in a row. According to The New York Times, even despite the coronavirus pandemic, foreign buyers support the market activity. The reason is the Portuguese residence permit-by-investment program.
The Golden Visa of Portugal allows you to combine two key preferences: the ability to live next door to celebrities and, at the same time, enjoy dozens of advantages of a European residence permit. A pleasant bonus is the opportunity to apply for full Portuguese citizenship with all its benefits within five years after receiving the Golden Visa.
How to get a residence permit in Portugal
In fact, obtaining a residence permit in Portugal is much easier than you might think. First, you need to choose the option you want to invest in.
- In real estate: you need to purchase a new residential or commercial property for at least €500,000 or an object to be renovated for €350,000.
- To the country’s economy: in this case, you need to contribute at least €1,000,000.
- In new job opportunities: an investor should create ten jobs and contribute €350,000.
- To local funds: buy Portuguese fund shares starting at €350,000.
- In scientific activity: this variant requires the same minimum investment — from €350,000.
After choosing an investment option (for example, real estate), use the help of a licensed migration agent. Companies like Migronis will take on most of the issues. All you have to do is sign up for the necessary documents. Getting a residence permit with an agent takes six easy steps:
- Contract. At this stage, Migronis will conduct a free preliminary screening of the applicant.
- Select an object for purchase. Experts will offer you to choose exclusively from highly liquid objects with an accurate market value without artificial rise.
- Act of purchase and sale. The Migronis specialists will issue a tax number in Portugal for you and open an account and insurance at a local bank. All you need to do is sign up for the purchase/sale agreement and pay for the investment.
- Apply to the Migration Service. The Migronis experts collect, translate and apostille all documents. The completed application is submitted to the Portuguese SEF.
- Wait for check and approval. Case verification takes 4-7 months.
- Get a residence permit. This step requires you to visit Portugal, pass the biometrics, pay all fees and get your Golden Visa.
And that’s all — you can move into your new home, go jogging and stuff with Johansson, fish with Louboutin, or invite Madonna for a Christmas party as a neighbor.