South Africans are snapping up Portugal property for affordable access to EU residency – BusinessTech

South Africans looking for an offshore base, visa-free access to Europe and the possibility of dual-citizenship, are increasingly investing in property in Portugal, says migration, wealth and forex specialists, Sable International.

The Golden Visa Programme developed by the Portuguese government, which offers a financially accessible and efficient process, whereby non-EU citizens can obtain Portuguese residence permits and citizenship via investment in the country, remains very popular and in fact during the 2020 Covid crisis has shown no sign of tapering.

By mid-2020, over 8,736 residence permits had been issued since the start of the programme, equating to 14,936 residence permits if the family members of the main applicant were included.

With the visa, applicants and their families can live and work in Portugal as well as travel visa-free throughout the European Schengen Area. “A key benefit of the programme is that applicants don’t need to immigrate to Portugal to hold the Golden Visa.

They only need to spend (on average) seven days a year in Portugal to meet the residency requirements of the programme,” said Andrew Rissik director at Sable International.

“It means you can make a sound offshore investment and secure your family’s future without the hassle of relocating to a completely new country.”

The Golden Visa not only allows the holder to live and work in Portugal, but also affords them the right to visa-free travel throughout the European Schengen Area.

This has been especially attractive to executives wishing to work within the European Union (EU). Through the Portuguese residency programme, South Africans
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Author: Global Real Estate