Real estate in Evora for a Golden visa in Portugal - is it worth it?

Buy property in Evora? Do you want to invest in the Real Estate of Evora? You could get a Portugal Golden visa!

“She who lives near yew trees" otherwise known as Evora, the stunning historic city which is the capital of Alentejo region.  A treat for the eyes for historical enthusiasts and full of gothic architecture, Evora officially became a world heritage site in 1986.  The museum-city which used to be home to Kings in the Golden Age of Roman times, is fast becoming one of Portugal Golden Visa hotspots.  If you are looking for a Golden Visa, Evora could be one of Europe’s hidden gems and is definitely an up and coming place to watch. The white-washed city is certainly gathering interest from foreign buyers and has seen one of the fastest demands in the property market with a 41% increase in after lockdown.  Still relatively inexpensive it is a calm, beautiful city with lots of charm and Evora has seen a steady growth in recent years.  It’s certainly a breath of fresh air from the modern day world and I have a feeling it will not stay inexpensive for long. 

Let’s look at the culinary delights; it is home to two MICHELIN star restaurants, Origens, located in the heart of the historic centre and Dom Joaquim with it’s classic-contemporary ambience is worth a visit just to check out the sculptures from a famous local artist Nuno Ramalho.  

For those wine enthusiasts you will have already heard of the Alentejo region. The region’s gastronomy is highly regarded by the Portuguese who are very proud of their wine and cuisine.  Alentejo is arguably the best wine region in Portugal.  The Alentejo wines will take you on a journey with their unique aromas and colours.  The Alentejo Wine Route is an experience of a lifetime for wine lovers who are spoilt for choice with over 60 wineries to choose from.  The warm hospitality of the Portuguese, mixed with the stunning landscapes and of course the sensational wines, it is a lifetime experience in itself.  The Tasting Room in Evora will teach you everything you need to know.

Real Estate Evora

Moving on to the best part, Evora is a low-density area. So, if you are looking to buy property there are many benefits to you for investing in Evora. Portugal is home to the Golden Visa Program, which is considered to be one of the most attractive visa programs in the entire world. Any non-EU/EEA or non-Swiss citizen is eligible for Portugal’s Golden Visa program, as long as you are at least 18 years old and have no criminal record then you can apply.  The investment must come from funds outside of Portugal but you can invest in Real Estate, an investment fund, a capital transfer, a donation or job creation.  If you buy property in Evora then you will come under the Real Estate investment and become eligible for a Portuguese Golden Visa which also will allow you to travel to 26 European countries without a visa.  You do not need to live in Portugal, although you have entitlement to, the only requirement is for you to spend at least 1 week in the first year and 2 weeks in the subsequent years in order to keep the Portuguese Golden Visa.  At any time you can live, study or work in Portugal as if you were a citizen and you will also be entitled to family reunification. Ultimately you have all the privileges or a EU citizen for not only yourself but your family members too. After 5 years it is then possible to obtain a Portuguese passport. It doesn’t end there, as there are incredible tax advantages under the NHR (Non-Habitual Resident Scheme) which you are also permitted to apply for. The NHR contains many tax incentives on foreign sourced income as well as low tax rates for certain professions.  It’s important to mention that unless you do chose to become a tax resident in Portugal, you will not automatically be liable for Portuguese taxes.

What makes Evora different and more attractive is that it is located in a low-density area.  In addition to the standard Portuguese Golden Visa program, Portugal becomes even more attractive if investing in a low-density area, also known as Golden Visa 280.  This ultimately means that you get a 20% discount from the minimum investment amount of 350k, bringing your investment down to just 280k. This can be for either residential or commercial property.  Not to be forgotten that this is the total cost of the investment and can include all renovation costs as well.  Holiday homes and build projects are popular opportunities taken already by thousands of foreign investors who feel welcomed by the country. The holiday rentals market in Portugal is booming and growing vastly each year so your new investment can quickly bring high returns. With great prospects, Portugal is an easy and quick country to buy property and the Golden Visa 280 is a extremely beneficial way of investing. 

Golden Visa Evora

If you want to see this all for yourself, you can fly in to Evora from either Lisbon or Faro making it easily accessible from the rest of the world. Both routes take you a picturesque ride through glorious mountains and charming towns not to mention some of the ‘officially’ best beaches in the world.

So, is Evora real estate worth it for a golden visa? An elegant city full of culture, stimulating all senses along with attractive investment opportunities, from me, it’s a very big yes! 

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