Portugal issues first Golden Visa

The first Portugal Golden Visa citizenship was recently issued, with more to follow in coming months, says Pam Golding International head Chris Immelman. It’s good news for South Africans invested in the Portugal Golden Visa programme, which offers residency via investment in property.

“This is very positive for investors whose visas are already being processed but also provides considerable comfort for those still considering the programme in order to acquire residency and citizenship,” he says.

Residency enables applicants to live, work and study in Portugal, with Schengen travel rights, whereas citizenship allows applicants and their immediate family to live, work and study in any EU country. More than 300 South African families are involved in the programme, says Immelman.

“While the original requirement was a €500,000 investment, it’s now possible to enter the Golden Visa programme with an entrylevel investment of only €350,000. We recently launched the opportunity to invest in Santa Catarina Place, our first apartment development in Portugal.”

Santa Catarina Place is in downtown Porto and will be fully refurbished. “These are apartments that can be used as you like, with a 4% rental guarantee for three years should you prefer to rent yours out,” says Immelman. “Investors have full ownership, and units are priced from €374,000, including a promotional discount.”