Golden Visa for Urban Rehabilitation

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We’ve discussed the Golden Visa topic here, and in this article, we’ll uncloak some of the benefits of using it to invest in urban rehabilitation here in Portugal.

The Golden Visa for urban rehabilitation in Portugal, as the name implies, is a modality that aims to promote urban rehabilitation, and offers a series of benefits to its owner compared to the classic real estate investment of 500 thousand euros. 

Golden Visa for urban rehabilitation in Portugal

Here’s where we stop and think: maybe this is a good idea! In 2015 the Portuguese government provided an additional modality of real estate investment to obtain a Golden Visa, which is through the acquisition of constructions that have been completed for at least 30 years or located in an urban rehabilitation area (ARU) and carrying out rehabilitation works, in a global amount equal to or greater than 350 thousand euros. 

And the most interesting part is that you can buy more than one property as long as the final amount invested reaches at least 350 thousand euros. What a chance!

You can even buy the property in partnership with others, as long as the total amount invested by the Golden Visa complies with the minimum required for this purpose.

What are the challenges? 

Nothing we can’t handle! You’ll need to search and select a property whose construction was completed more than 30 years ago or located in the Urban Rehabilitation Area – ARU.

In Portugal, ARUs are areas territorially delimited by municipalities that are in a situation of insufficiency, degradation, or obsolescence and that justifies an operation of “urban rehabilitation”, led by the State.

And after finding the place, you’ll have to carry out restoration works on the property that you will acquire, and it involves a prior licensing process for the works, hiring professionals for this purpose (contractors, architects, engineers), and their follow-up.

Now, the bright side:

Besides having a unique and charming property, there’s a range of advantages such as tax exemptions, benefits, and discounts, and if the house is located in an urban rehabilitation area (ARU), there are even more incentives. Let us not forget that restoring a house is an excellent contribution to preserving heritage, giving a building a second chance, and presents a more sustainable option.

And if you are serious about investing in this kind of business, the benefits are way higher than the challenges, and we can help you. We can do all the steps necessary to make this dream come true. Contact us and we’ll show you how amazing this can be 🙂

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