BUYING PROPERTY IN MADEIRA | invest in property for the Golden Visa. How much and what can I buy?
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- Опубликовано: 28 сен 2022
- Madeira Golden Visa: Ultimate 2022 GuideThe biggest question we had when we started looking at investing in property for the madeira golden visa was how much did we have to invest. AND what did we have to invest in. And we discovered when investing in property for the Madeira Golden Visa, there were two key investment thresholds for us to consider. The First one is 500,000 EUR minimum. The second is the option we took, a minimum investment of 350K if the property is a part of an urban rehabilitation project.
In today’s video we delve a little deeper into what these options mean and why we chose to buy a house that needed renovating rather than a new build or a house ready to move into. We also share what we learnt about buying land and building a house; and if we could invest our money in more than one property. In this 5 / 10 minute video you will come away with a good starting knowledge of how much you have to invest in property for the Golden Visa.
OUR VIDEOS ARE JUST US CHATTING ABOUT OUR OWN EXPERIENCES, SOMETHING FOR US TO SHARE WITH OUR FRIENDS AND FAMILY AND FOR US TO LOOK BACK ON. DO CONSULT A LAWYER TO ANSWER ANY QUESTIONS YOU HAVE.
Madeira Golden Visa: Ultimate 2022 Guide
digitalemigre.com/relocation/...
I’ve been going to Portugal for over 20 years. Last week was my firs time I went to Madeira. I loved it so much that I began looking for properties. It was so fortunate I found your videos. Will be going though them to get some info.
Many thanks, very clear information. Well done guys!
Ding a ling hit 😂. What a gem of a house. Keep videos coming. My wife and I enjoy your videos.
Yaay!! It's great to know you watched until the end 💚 and to know you are enjoying coming along with us on Our Bright Journey.
You are very welcome. Greetings from UK
I líved nearly everywhere (Alexandria & Miami, Hamburg, you name it), and choose Coimbra to start 2022. I became a widower in Buenos Aires in 2017, but my advantage is to be a Schengen citizen. I still I have to know "heaven on earth" the island of eternal spring, Madeira, I think it will come in 2023. I´m seaching west of Funchal & your channels (including "Live Yourself Young", I´m subscribed) help me a lot. Alkaline water is available in Madeira & diet also, etc. My other option (#2, internet is not so good, and Madeira is politically better IMHO) is the Castelo Branco area. Cheers! 🙂
I just submitted my D7 visa application from the US. I am hoping to move in January. Although I am not going to renovate anything, I found this helpful to understand what is involved.
That is good to hear! Thank you for commenting and sharing your exciting plans. 💚
New subscriber here. Love your content, very helpful. Looking forward to seeing the completed house! Question: when you found turnkey properties that you liked but were not expensive enough to qualify for GV, why didn't you consider the D7 route? Wouldn't that have worked since presumably you planned on living in Portugal for at least the next 5 years anyways? Thanks in advance!
Hey thanks for subscribing and commenting. The D7 was never an option for us because we don’t have an income. Andrew has retired early and although I work part time as a digital marketer it is short term. We have money in the bank but our lawyers told us this did not count and we won’t be drawing pensions for another few years. Hope that answers your question.
@@ourbrightjourney Thanks for your reply!
wow, you both are a wonderful couple! Am on my GV process too. We can catch up sometime!!!
Thank you for your kind comment! A fellow Golden Visa friend, let’s meet for coffee one day.
Beautiful! Congratulations! In the planning stages of my possible move there. What area did you choose?
Thank you! We are on the North coast! We knew from our first visit to Madeira we wanted to live in the North. You may enjoy this video “Buying a home in Madeira. How to find your dream home” ruclips.net/video/yy5nYYiQbnw/видео.html
Fantastic I ❤ it
Thank you so much Daniel 🤩 we really appreciate your comment.
Really enjoying your videos. You found a gem of a ruin. Curious to know if you will be sharing financial details, like how much you paid for the house, etc... We will be visiting Madeira for the first time in April. My wife and I (I'm American and she is dual Polish-American, so D6 visa for me and none needed for her) would love to connect with you, maybe take you out for a meal in exchange for picking your brains. Keep up the good work! Thanks!
Hello William! Thank you for commenting and sharing your plans. We’d be very happy to meet up with you, and your wife, no need for dinner, a coffee and pastel de nata would be perfect! We have a few videos planned so keep tuned 💚
Thank you for the great information! I would really really like to know, how did you find reputable trustworthy builders? 💕
Hi and we will cover this in a video to come soon 😎 Our architect recommended our builder and we are so grateful she did. From what we have been hearing, if you use an architect you are going to get better service than finding and working with a builder on your own. 💚
Thanks for the video, like you said not many on youtube for golden visa's on Madeira. Only part I don't really understand is the 4 levels of rehablitation. Does it just need to fall under level 1 or more, dose that factor into the 350k total or affect the visa at all?
It doesn't matter what level of rehabilitation the property requires as long as it meets one! We only mentioned it in our video as we found it hard to get our estate agent or lawyer to commit as to what would be counted as renovation eg he said we could include the cost of adding a swimming pool but that is not the case. The most important thing for the 350,000 euros option is to find a property that meets the requirements of either over 30 years old or located within one of the official rehabilitation zones. You must clarify this with a lawyer and City Hall before pursuing a purchase, do not just believe what the estate agent tells you. The €350,000 Madeira Golden Visa investment threshold includes both the purchase price of the property and the value of any rehabilitation work required. Of course, the total can be higher than €350,000 too! We hope that helps BUT this is just our experience so please do check with your lawyer before committing to anything.
I recently retired and thinking about moving to Madeira. I was there this spring and loved the place.
The problem is I don't know how to navigate the process. I would love to do the renovation golden visa as I have renovated a couple home in my life. (I know that the work had to be done by contractors but maybe I can "help"?
The question is how does one fine reputable people to help navigate?
Lawyers that know the renovation golden visa?
Realtors that will make sure they sell you a house that qualifies?
Advisors that know the rules to make the process go smoothly?
I am just afraid of messing up and not qualifying.
What advice do you have?
Hi James, I think we answer all these questions in our videos! We felt the same way as you when we started on this journey and that is why we decided to share our story. I don't know if you have time to watch all our videos! so I will link to a couple that would be useful. But the best advice is to ask for recommendations, work with people you trust and don't be afraid to move on if the person is not a good fit for you. We share the people we used in the description section of our videos. Maybe the place to start is with Samantha North of Digital Emigre, she was our starting point and everything fell into place from there. All the best Rae & Andrew 💚 ruclips.net/video/sxsJvYTB7Co/видео.html and ruclips.net/video/yy5nYYiQbnw/видео.html
I am your neighbor in Sao Vicente! I bought a place there earlier this year for the GV program myself. I'll be visiting my rehab in early Nov, would be great to meet you all for lunch/coffee if you're up for it. Actually staying in Ponta Delgada during my visit.
Hello! How wonderful to hear you are also applying for a Golden Visa for this beautiful island. Where are you from? We can meet for coffee here in Ponta Delgada or at our favourite coffee shop in São Vicente. 💚
@@ourbrightjourney Looks like my last message was deleted because I put my email in it. Maybe we can shoot for this weekend and try Padaria e Confeitaria Donna? I am pretty open if you want to suggest a time.
HI can you come and find me on Instagram and message me there? Thanks instagram.com/the_raeway/
@@ourbrightjourney done
@@BinHexOctal I wonder if one will ever get tired of the solitude and the peace and quiet of that side of the island. We're thinking of retiring there in a few years but we don't know yet in which part of the island.
The beauty of the lush green mountains and the ocean waves are vitamins to the soul.
Does anybody know if the minimum requirement for investment has to be in cash or is it just based on the price of the property itself? Are the bank loans for homes similar to in America where usually 10%-20% down payment is required with a good credit rating? And are the closing costs and taxes on a home purchase reasonable? If someone bought a 500k home, approximately how much would someone need to have in cash by the time the transaction was completed?
Been trying to seek an answer to this as well!
Can get a bank loan from another country but won't be able to for this in Portugal/Madeira.
can you buy a house without a golden visa?
Yes you can! You might enjoy this video “Buying a home in Madeira, how to find your dream home” ruclips.net/video/yy5nYYiQbnw/видео.html
Can I have a contact or name of your architect please ,as well as notary if you have one ,
Thanks a million