Offshore Guidebook | Real Estate Investor Magazine Offshore Guidebook 2014 | Page 54

PORTUGAL lies in its location as a springboard into the rest of Europe. The Portuguese passport has long been coveted as one of the most valuable in the world, letting its holders visit 170 countries without the need for a visa. For many executives, the Passaporte Português is the gateway to the European Union, and the travel, safety, and opportunity that EU nationality affords. A golden key to EU nationality A South African passport can be limiting for executives who wish to conduct their business on a global scale. It is increasingly common to live one’s life ‘globally,’ moving from one international destination to the next as life, business and family dictate. Now, investors can embark on a route to EU citizenship through an investment in Portugal via the Golden Residence Permit, which gives investors residency within three months and the right to apply for European citizenship after f ive years. Affectionately known as the ‘Golden Visa,’ the initial residency permit entitles investors and their families to visa-free travel through the 26 countries of the Schengen Area. An EU passport provides the right to live and work in the European Union, including the UK and Ireland. This is especially attractive for executives who have the long-term aim of working in the EU. Immelman has noticed a positive uptake among property investors since the introduction of the Golden Residence Permit, which “has injected much excitement in the market around 500K”. However, what makes this solution viable from a nationality and investment perspective is the fact that there is no requirement to permanently live in Portugal. The Golden Visa is not an isolated property investment, but a lifestyle investment for the future. It caters for those with one or all of the following objectives: 52 Offshore Handbook 2014 • dual citizenship for you and your family; • visa-free travel throughout Europe; • • • overseas property ownership; a foreign currency income -earning asset; a ‘Plan B’ in terms of safety, security, education and lifestyle. Portugal has changed a lot since the 19th century, but one thing is certain: there are few places in the world that occupy such a soft spot in the hearts of global citizens. And, if that experience comes with the opportunity to obtain a foothold in the world’s most integrated economic bloc for you and your family, it’s an opportunity ripe for the picking. In the words of Cliff Richard, “I’ve got two places I like to be. Portugal is one.” On the ground, end-to-end assistance Work ing in tandem w ith Pam Gold ing and carefully-selected Portuguese partners, The Sable Group, which has helped global citizens and their families relocate since 1995, can facilitate participation in the Golden Visa programme. Sable will liaise with its legal, f iscal, property, banking and governmental partners to prepare applications, book appointments, and take care of any administration before you depa r t for Portugal. Sable’s Portugal-based partner, David, will meet you at the airport and accompany you on all aspects of your trip. An expat who has been living in Portugal for over 30 years, David is fluent in Portuguese and has unparalleled insight into Portugal, its people, Golden Visa legislation, and the local propert y market. The ser vice is fully comprehensive throughout the Golden Visa programme, including the ongoing annual Golden Visa requirements, with a final fee only billed upon citizenship application. RESOURCES Sable Group Pam Golding Property International Division www.reimag.co.za