Buying property in Portugal after Brexit? Here’s what you need to know

There was a lot of uncertainty about buying property in Portugal after Brexit and how it would impact the rights of UK citizens to buy property and live in Portugal.

We’ve had more time to see what the landscape looks like and, for the most part, it’s not really that different.

So, if you’re considering buying property in Portugal but aren’t sure where you stand with regards to Brexit and your rights as a non-EU citizen, here’s what you need to know.

What are my rights for visiting Portugal?

While Britain leaving the EU ended the rights for free movement of people and unrestricted access to other EU countries, it’s still easy to travel to Portugal.

You can still travel to and stay in Portugal for upto 90 days over a six-month period, but any longer than that and you’ll need to apply for a visa.

So if you’re planning to move for work or retirement, you’ll need to keep this in mind.

However, Portugal has always had one of the most welcoming and relaxed approaches to foreign investment or immigration from outside the EU, and this has now been extended to British citizens looking to buy property after Brexit.

There are a number of existing visa schemes that have been made available to British citizens looking to buy property or invest in Portugal.

Golden Visa

Portugal’s Golden Visa is one of the most popular immigration schemes in the world.

It allows non-EU nationals the ability to get a five year residence permit by buying a property worth 500,000€ and then the chance to apply for permanent residence after those five years provided the owner has met certain criteria during their stay.

It’s long been used by non-EU nationals to gain access to similar travelling and immigration rights to those from within the EU - including an EU passport and rights to freely travel through the rest of Europe.

Since Brexit, the scheme is now available to UK residents looking to buy property in Portugal.

We’ve got more details about Portugal’s Golden Visa scheme and how to apply in this blog.

There are some changes expected to come into force by January 2022 which will restrict where you can buy property and qualify for the Golden Visa scheme, so you’ll need to check before you buy.

D7 Residence Visa for foreigners

The D7 residence visa has been a popular scheme for foreign nationals with a recognised income stream to settle in Portugal in order to gain a residency permit.

It’s been particularly popular among retirees with a regular pension income looking to move out to Portugal, however it can also be used by people with other forms of regular income like money from real estate investments or dividends from financial investments.

It allows foreign nationals of any age the opportunity to enter Portugal to establish residency, provided you can prove you’re able to live off your own means and won’t be reliant on benefits at any point during your residency.

With that in mind, if you want to use this option, you’ll likely need to prove you have a steady income that is at least at the same level of Portugal’s minimum wage.

The first thing you’ll need to do is apply for a D7 visa in the UK. If you’re successful you’ll be able to travel to and remain in Portugal for 4 months.

Once you’re in Portugal, you’ll be able to apply for a D7 residence permit. This allows you to get a permit to remain in Portugal for 12 months and can be renewed every two years.

After five years you’ll be able to convert this into a permanent residence permit.

Your family will automatically be included in your new residence permit and will have access to healthcare, education and the right to work in Portugal.

Has Brexit impacted my ability to get a house or mortgage in Portugal?

No.

Portugal has no restrictions on foreign nationals investing in property so even though the UK is no longer part of the EU, you’ll still be able to buy a property as easily as before.

Plus, mortgage decisions are based purely on affordability and your ability to pay back any loans you take out so, again, Brexit won’t have impacted your rights in any way.

Put that alongside the visa and residence schemes still available to you as a UK resident, and Portugal remains just as accessible to you as it has always been.

Ready to buy your dream house in Portugal?

If you’re ready to take the next step or are just starting to look for a house in Portugal, get in touch with us and our team of Portuguese property experts will work with you to understand your budget and what you’re looking for so we can match you with your ideal home.

If you’ve got questions about moving to Portugal and what to expect during the application process, we’ll be able to answer all those questions too.

Start your property search today.