Residence permit in Portugal for the real estate purchase in Cascais
It is possible to get a residence permit in Portugal through an investment program. The most demanded option is the purchase of real estate in the amount of € 500,000. It is chosen by about 85% of investors.
You can buy real estate in different regions of the country. Today we will talk about two profitable projects that are located in the Portuguese city of Cascais.
Author •Elena Ruda
Chief Development Officer at Immigrant Invest
Residence permit in Portugal for the real estate purchase in Cascais
Cascais is a port city and resort in the southwest of Portugal. The city is located on the coast of the Atlantic Ocean. The journey to Lisbon, the capital of Portugal, takes about 25 minutes by car. Humberto Delgado International Airport is 38 km from the resort.
Tourists can be met in Cascais all year round. Also in the 19th century, the Portuguese royal family came to the city for a vacation, so Cascais became associated with a luxurious lifestyle and one of the best vacation destinations.
Two profitable real estate objects in Cascais
Villa in a residential complex on the coast
Arearn— 860 m²
Price — €7,950,000
Profitability — up to 5% per annum
The villa is located in a closed condominium in Quinta da Marinha. The residential complex is managed by a tour operator who is responsible for cleaning the territories and villas, maintenance of the pool and garden.
A shopping area, sports and children’s playgrounds, cafes and restaurants will be built on the territory of the complex. Near the complex are the golf courses and tennis courts for which Cascais is notable.
Each villa is equipped with solar panels and a split system. The villa has a garden and a swimming pool
Apartments in the five-star hotel Sheraton Cascais
Arearn— from 80 m²
Price — from € 600,000
Profitability — up to 5% per annum
The hotel is situated in a prestigious arearnof the city — Quinta da Marinha. Near the hotel there are places for recreation and walking, golf and tennis fields, and the coast of the Atlantic Ocean is three kilometers away.
The hotel has a gym, tennis club, spa, swimming pools and restaurants on its territory. The apartments are equipped with everything necessary for life, as well as have access to their own terrace, and the view from the windows opens onto a picturesque garden.
The sales of apartments have already started: investors can buy real estate worth from €600,000 and conclude a management contract for up to 20 years. Additionally, investors and their families will be able to come to rest at the hotel for four weeks a year.
Sheraton Cascais Hotels is built next to the Atlantic Ocean in the resort of Cascais city
What do investors get for buying real estate
Residence permit for the whole family. Both objects are suitable for participation in the investment residence permit program in Portugal — Golden Residence Permit Program.
The investor’s spouse, children under 26 and parents over 65 are eligible to participate in the program together with the investor.
Holders of Portuguese residence permit cards can live, study, work and do business in the country without restrictions. After five years, an investor can apply for citizenship and receive a passport of an EU member state.
Visa-free travel. With a residence permit card in Portugal, you can freely travel to any Schengen country. It is allowed to stay in the selected state without a visa for 90 days in a six months period.
Perspective for citizenship. The investor and his family are eligible to apply for Portuguese citizenship after five years.Citizens of Portugal have even more opportunities: they can vote in elections, work in government agencies of the country and travel to 187 countries without visas.
Tax optimization. The investor has the right to become a tax resident of Portugal. In order to do this, he needs to live in the country for 183 days. The investor will be eligible for an issue of a preferential status — Non-Habitual Resident — for 10 years. It exempts from paying taxes on worldwide income and establishes a flat rate of taxes on income from work and pension payments.
European education. All citizens and residents of the country can study in Portuguese schools: children go to school from the age of six. Basic nine-year education is compulsory. If the parents have received a residence permit in Portugal, the child enters a public school on a general basis. The cost of a private school averages €4000 per year.
Higher education in Cascais can be obtained at the Estoril Higher Institute of Tourism and Hospitality or the Alcoitao Higher School of Health. The cost of education starts from €2500 per year for undergraduate programs.
Liquid asset and passive income. Property prices in Portugal grow by an average of 7% each year. Cascais often leads in the arearnof price growth among the regions of the country. The city also has the highest rental rates. For example, in 2021 it was possible to rent a three-bedroom apartment for €2250. This is more than in Lisbon by a third.
Participants of the residence permit program for investment own real estate for at least five years. At this time, they can rent out objects and receive income from 3 to 5% per annum. And after five years, real estate can be sold and the funds invested can be returned with the profit from rising prices for the objects.
Immigrant Invest — is a licensed agent of the residence permit program in Portugal.If you want to become a resident of the European Union through the purchase of real estate, contact investment program experts for advice.
More news
Turkey launches a new Tech Visa: what is it and how to get it
Vladlena Baranova
