Lisbon hotel renovation: how to buy a share and get a Portuguese residence permit
Portugal offers to invest in a four-star Lisbon hotel share to participants of the residence permit program. The property is located in one of the best areas of the city and is a promising ideal holiday accommodation. The hotel is currently undergoing renovations, which will be completed by 2024.
We share everything that is known about the project and how buying a share in it helps to get a residence permit in Portugal.
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In Portugal, a state program of residence permits by investment is in place. Participants of the program can buy real estate or investment fund units, support the culture and art of Portugal, transfer their capital to a local bank, start a company, or invest in scientific projects or businesses.
The option to buy real estate is represented by two choices. Investors can buy a new property starting from €500,000 or a property worth €350,000 that was built more than 30 years ago or is located in renovation areas.
Immigrant Invest has a database of legitimate properties, including this hotel in Lisbon. This is a renovation project suitable for a residence permit program in Portugal. The hotel renovation will be completed in 2024.
Investors can already buy a share in the hotel costing €350,000. When the hotel reconstruction is completed, investors will receive a guaranteed rental income of 3% a year.
Additional bonuses from the developer:
the investor and their family will be able to stay in the hotel for seven free days a year;
transfer of ownership tax — €14,787 is paid by the developer;
mandatory share repurchase in six years at the same price.
What is known about the Lisbon hotel
This four-star hotel is located in the northeast of Lisbon, the capital of Portugal. The project is managed by one of the largest brands in the global hotel industry.
The hotel building is being renovated: the exterior is planned to be decorated in a modern minimalist style. The building will have four floors and 230 comfortable rooms. Each room has one bedroom and a bathroom. There will be a picturesque view of the city from all the windows.
A swimming pool, spa center, and gym will be built on the hotel territory. It will also be surrounded by a terraced garden. A parking lot for 102 spots is planned.
Two kilometers from the hotel there is Portela International Airport, the largest in the country. Each year, the hub receives about 29 million passengers.
Eight kilometers from the hotel is the coastal parish of Parque das Nações, one of the most developed in Lisbon. There is an oceanarium, zoo, Vasco da Gama shopping & entertainment center, Casino Lisboa, and Marina Parque das Nações for private boats. Panoramic restaurants on the waterfront of the Atlantic Ocean and Tagus River offer Portuguese, European and international cuisine.
Praia da Figueirinha, one of the best family beaches in Lisbon, is an hour’s drive away.
The hotel is located near Portela International Airport, Oriente Train Station, and Praia da Figueirinha
What advantages does an investor get for buying a property in Portugal?
Residence permit for the whole family. An investor can add the following family members to the residence permit application:
spouse;
children under 18 years of age;
children aged 18—26, financially dependent on the investor and enrolled at a university;
parents of the investor and the spouse. If parents are younger than 65, they should be financially dependent on the investor.
Visa-free access to the Schengen Zone. A Portuguese residence permit card allows one to freely visit all the Schengen countries and spend 90 days out of 180 there.
Tax optimization. Investors with a residence permit in Portugal can get a status of a Non-Habitual Resident for 10 years. It exempts them from paying worldwide income tax. Income earned in Portugal is taxed at a flat rate of 20%, instead of 48%.
The opportunity to obtain citizenship in an EU country. After five years of resident status, the investor can apply for permanent residence or citizenship in Portugal. With a Portuguese passport, they will be granted free entry to 187 countries worldwide, including the European Union, the United Kingdom, the United States, and Australia.
Immigrant Invest is a licensed agent for government programs in the EU and the Caribbean. If you want to obtain a residence permit in Portugal, please contact our investment program experts for advice.
