Have an extra R5 million to spare on a property in Portugal? EU citizenship could be yours

2019-11-20 08:45 - Marisa Crous
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Earlier this year it was reported that emigration queries spiked by 70% in SA.

Now, whether you and your family want to emigrate or obtain citizenship in another country as a kind of Plan B option or simply want to move abroad for a while to experience international living, solid investment in another economy could get you there.

All you need first and foremost: the means. 

READ: The Golden Visa: Travelling the exclusive world of the 1% 

A Golden Visa allows you the pleasure and ability to zip to the front of the immigration line for a growing list of attractive countries - including some in the European Union and the United States. It's meant to spur on the notion of global citizenship.

John Dunn from Sable International says the Portugal Golden Visa allows you to live and work in Portugal, it also affords you the right to visa-free travel throughout the European Schengen area, plus after five years, you and your immediate family can qualify for permanent residence and potentially citizenship thereafter. Good deal for R5 million? Maybe would say so. 

And Portugal, with its favourable weather and nature-scapes might not be a bad option for outdoor-loving South Africans. 

READ: These are the cheapest months to fly to these visa-free islands from South Africa

Benefits of having a Golden Visa include:

No visa required to enter Portugal 

Visa-free travel within the Schengen area

You can live and work in Portugal with dependant family members

You can extend Portuguese residency to dependant family members

It has a very low minimum stay period (a total of 35 days within five years) 

After just five years, you are eligible to apply for permanent residency or citizenship 

There are four ways to get a Golden Visa to Portugal:

Firstly, a €1 million (R16 million) capital investment, this can be in the form of a fund deposit into a Portuguese bank account, the purchase of Portuguese stocks and bonds or a company investment.  

Secondly, you could create 10 jobs. If you employ 10 workers at minimum wage and all employees pay social security you can qualify for a Golden Visa. There is no minimum investment for this route. 

Another route is by purchasing a property. This is a popular option among investors. You must purchase a property, or multiple properties, with a minimum value of €500 000 (R8 million). The property you purchase can be rented out. 

READ: Emigration queries spike by 70% in SA - here are the top countries South Africans are interested in

Lastly, you can choose to make a private equity investment. There has been a lot of demand for the €350,000 (about R5,7m) property category for investors seeking a comparatively cheaper route to attaining a Golden Visa.

“Compared to the straightforward property purchase of the €500 000 route, the €350 000 option has a few more requirements to satisfy, but the capital savings more than make up for the hassle,” says Dunn. 

For more go to Sable.

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