Sweetening the pot
Portugal attracts South African investors with the Golden Residence Permit programme
VOTED as one of the most peaceful nations in the world, according to the Global Peace Index 2011, and regarded by many as one of the best places to invest, work and live; picturesque Portugal offers South African investors the opportunity to easily obtain a European Residency Permit and positive tax benefits, without any employment or residence restrictions.
South African-based international based international residence, citizenship and property investment company, Monarch&Co, works closely with their Portuguese partners and the official Portuguese Tourism authority, Agencia Regional De Promoção Turistica Do Alentejo, to promote the ARI-Golden Residence Permit Programme passed into law last year.
“The most exciting information for interested South Africans is the ARI-Golden Residence Permit Programme for non-resident South African investors. In other words, there is no need to emigrate to Portugal,” said Monarch&Co CEO James Bowling. “Portugal offers South African investors an attractive lifestyle, hospitality and quality of life.
“Property prices are at their lowest and investors can invest in multiple properties to meet their minimum investment requirement for the programme.”
The country offers a wide range of competitive and attractive property investments for the local investor. Forbes business magazine ranked Portugal 24 out of 141 countries surveyed last year for the best countries in the world to do business in respect of aspects such as property rights, innovation and technology, individual, commercial and monetary freedom plus investor protection.
The Worldwide Quality of Living Survey 2011 voted Lisbon as one of 42 cities in the world with the best quality of life.
Investment properties in sought after locations start from as low as €130,000 for a twobedroom apartment along the picturesque Algarve and Silver Coast, a short walk to the beach. The total property investment portfolio does need to exceed €500,000 unencumbered in order to meet the programme criteria. The Portugal Residence Programme requirements are, however, transparent and simple to understand.
Sao Martinho do Porto is one of the real gems of the Portuguese Silver Coast. Built around a shell-shaped bay which is sheltered from the wind, it offers bathers clear, warm and calm waters along with a promenade lined with interesting shops, bars and restaurants. A town that mixes the old and new, Sao Martinho do Porto’s historic area boasts cobblestone streets, a church and a daily local farmers market. The town also has a vibrant night life, with a number of beachfront bars offering live entertainment on a regular basis. Everything within this exclusive and well kept village is within walking distance.
“The ARI-Golden Residence Programme allows South African investors to form part of the European Union without any obligation to reside permanently in the country. Portugal is the 43rd largest economy in the world, according to the World Bank, and according to Sky News, Portugal at present has the fastest growing GDP in the Euro Zone with a 1.1% increase in the last quarter,” says Bowling.
The ARI-Golden Residence Permit is available to all foreign national investors who are not citizens of the European Union. The residence permit programme has been in effect since October last year as the Portuguese government looks to generate capital and real estate investment and open the door to its potential investors.
“Investors from all corners of the globe — regardless of which country they originate from — can qualify for the programme. The government is committed to supporting investment in Portugal in order to attract capital, promote job creation and increase investment in real estate,” says Bowling.
Holders of the ARI-Golden Residence Permit can enjoy all the benefits that the premium Schengen Visa has to offer, including freedom of movement to the 26 member states. The programme still allows for applicants to carry on living in SA permanently should they wish to do so.
Family and dependents will also qualify for residence and, after the fifth year, a permit holder may apply for Portuguese citizenship and thereby an EU passport, giving the Portuguese passport holder visa-free travel to more than 150 countries.
“Portugal offers a temperate and sunny climate, sandy beaches, lush countryside and mountains, vibrant and cosmopolitan cities and a millennial heritage. Investors can practice water sports, play golf on some of the best courses in the world, contemplate nature or just get out into the country and discover unbeatable heritage, wines and cuisine.”
Monarch&Co International and their Portuguese partners will be hosting Portugal residence, citizenship and property investment seminars and meetings around the country, highlighting suitable properties and the numerous lifestyle and tax benefits that Portugal offers, sponsored by the official Portuguese Tourism authority Agencia Regional De Promoção Turistica Do Alentejo and Sonae Turismo.