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BREXIT ATTRACTS FOREIGN INVESTORS FOR PORTUGUESE REAL ESTATE

BREXIT ATTRACTS FOREIGN INVESTORS FOR PORTUGUESE REAL ESTATE
By Joana P. . 4 years

More and more British are asking for information about Golden Visa programs

With the victory of Brexit in the UK (which will cause the exit out of the EU country), there is a growing number of British to wonder how the Portuguese program of residence for investment works. For now this interest has only been seen in opinion polls and it is unknown whether it will in fact affect the investments.

In addition to the undeniable tax advantages associated with golden visa program, which allows citizens living outside the European Union to move  freely throughout the Schengen area, the fear that the British property depreciates with the implementation of Brexit can bring international investment to Portugal.

It is noted that the English have always been active in Portugal, mainly acquiring property as a second home or for rentals. However, in the first quarter of 2016 English people were dethroned by the French, regarding the purchase of real estate in Portugal, because of the tax advantages obtained by having residence outside France.

 

Source: Público