Share in a new four-star hotel in the Algarve region for the purpose of obtaining a Golden Visa. 70% of the shares have already been sold!
Description
The project involves the construction of the 4* hotel in the city of Faro. The total number of hotel rooms is about 133 units. The hotel will also include a gym, swimming pool and spa, bar and restaurant.
Completion: III quarter 2024.
Features
- The term of ownership of a share is from 6 to 15 years. There is a mandatory buyback of the share by the management company after 6–15 years of ownership for the same investment amount. During this time, residence permit holders can obtain Portuguese citizenship. Thus, after the redemption of the share, the resident status is preserved.
- The investor has the opportunity to stay at the hotel for free for 7 days annually.
- All responsibilities for asset management are fully borne by the management company.
- Automatic residence permits to family members.
- The advantages of a European citizenship (free movement in the Schengen area, high quality medicine, free education in most of the EU countries, etc.).
Tenants
The hotel operator is the large international hotel chain.
Transaction costs
- Legal fees;
- Notary costs;
- Stamp duty;
Commission-free transaction for the buyer.
The cost of ownership
Municipal Tax (IMT) of € 12,737 is payable by the management company.
The property is situated in the Faro district of the Algarve region. Faro International Airport is located approximately 5 km from the property.
Faro is the capital city of the Algarve region. It is located near the Algarve mountain range and is bathed by the Ria Formosa and the Atlantic Ocean. Being the third largest port of entry in Portugal (after Lisbon and Porto), its airport is the second busiest in the country, with traffic of over 5 million passengers per year. The Faro offers vast historical, architectural and cultural heritage. The gastronomy of the region is rich in centuries-old traditions. The Mediterranean climate with pleasant temperatures throughout the year, geographical conditions, security and the wide range of tourist offers, attract more and more visitors from all over the world.
