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How to get a residence permit in Portugal? The cheapest option with Evora Holiday Inn Express

Игорь Никитин
20 May 2021

One of the most famous Portuguese real estate market players has presented its new Express Holiday Inn Évora Hotel, based in the beautiful tourist city of Evora. It attracts investors looking for a Portuguese residence permit with the Golden Visa Program. This option is the cheapest one so far — €280,000 investment only.

How does it work?

You buy an apartment

The investment — €280,000

You apply for a residence permit in Portugal

Takes 6-8 months

You benefit from the hotel services

Free stay for 7 days a year

You save on taxes

VAT is covered by the real estate developer, no property tax

You become a citizen of the European Union

In 5 years, you get a passport of an EU citizen

You return your investments

In 5 years, the real estate developer returns 100% of your investment.

Holiday Inn Express Hotel

Holiday Inn Express is a three-star 72-room hotel under construction. It is located in Evora city, eastern Portugal, just 1.5 hours away from Lisbon and one hour from the Spanish border.

The hotel is managed by IHG Hotels & Resorts, owners of the InterContinental brand. During their almost 70-year history, the hotels have served hundreds of millions of guests around the world. With 170 hotels in over 60 countries, IHG Hotels & Resorts is one of the most recognized and trusted travel brands globally.

The hotel is located in the historical city center with the preserved fortress walls from the ancient Roman era. The classic front of the Holiday Inn Express harmonizes perfectly with the historic ambiance of Evora. The hotel provides a swimming pool, lounge bar, conference room, breakfast area.

Ragroup, with 11 productive projects on their account, stands as a real estate developer. It is a part of Mercan Group, a network of companies founded in 1989, successfully operating in labor, educational, and investment immigration.

How to get a residence permit in Portugal? The cheapest option with Evora Holiday Inn Express - nizova scaled e1618576020221

Anastasiia Nizova
Head of the Business Development Department at Migronis

The Portuguese Golden Visa is an attractive option for several reasons:

  • the price — €280,000 is the lower limit to get a residence permit in Portugal.
  • the management team with the global brand name — as a guarantee of finished construction.
  • a unique offer from the real estate developer — 100% of the transaction costs is covered. This is 7.5% of the property value.
  • separate costs for the property and the renovation works. The client pays only government fees (stamp duty), which is less.
  • VAT on renovation works takes 6% paid by the developer as well.

This project does not have the profitability typical for similar projects. Still, the developer’s cost coverage during the registration process comes even more worthwhile.

Everything an investor needs to know

Ragroup offers to invest €280,000 in one hotel room that gives the right to apply for the Golden Visa. It is €70,000 lower than the standard minimum investment provided by the Portuguese residence permit program.

In addition, in five years of retention, the real estate developer will buy out the cost of the room and return the money to the investor. Thus, investing in Evora Holiday Inn Express is a perfect option for people not planning to live in Portugal but looking for benefits with a Portuguese residence permit — and as fast and cheap as possible.

Fast facts

Total project cost: €16.8 million

The object for purchase: hotel room

Investment: €280,000

Invited: 60 investors

Approximate opening date: Summer 2023

Resale of the object: in five years of retention, the developer will buy out the investor’s share

Buyback guarantee: 100%

Profitability: no

Accommodation in the hotel: seven days a year for the investors and their family members

Obtaining a residence permit: despite such a low investment price, buying a room in this hotel gives you the right to obtain a Portuguese residence permit under the Golden Visa Program.

Additional expenses:

  1. no property tax
  2. no exploitative costs
  3. VAT is covered by the developer
  4. notarial charges: about €1,000
  5. stamp duty: 0.8% of the property amount.

Evora — a place of quiet comfort and clean air

Evora is the center of a large agricultural area, the district of the same name. Therefore, here you won’t be disturbed by the noise and smoke of plants and factories. There are many enterprises for processing grain, grapes, olives, etc. around. Hence, the freshest products are always available in the local markets.

Эвора виноградники
The town is surrounded by vineyards

This city is always quiet and cozy. Even the usually loud crowds of tourists lower their voices here, overwhelmed by the ancient grandeur of the local palaces. The only significant source of noise can be the University of Evora and its students. But on the other hand, the local university brings a constant flow of new people — applicants, students, and tourists.

Эвора
Roman aqueduct goes through the city
Эвора
From a bird’s eye view, Evora looks like little Rome
Эвора университет
The famous University of Evora

Evora: an ancient luxury in the heart of Europe

City of palaces and cathedrals

Evora is a museum city, a part of the UNESCO World Heritage.

Here is the legendary Roman Temple of Evora, constructed in the first century AD at the times of the Roman Empire, in honor of Emperor Octavian Augustus. The temple is officially recognized as the most well-preserved ancient monument in the entire Iberian Peninsula.

Эвора - Храм
Roman Temple of Évora
Римский Храм Эворы
Roman Temple of Évora

Close to the temple, you can find the Palace of King Manuel. It is the place where the Portuguese Parliament gathered in the 1400s, and the famous discoverer Vasco da Gama headed the fleet for his journey to India.

Дворец короля Мануэля
The Royal Palace of Évora

Outside the Palace, you should visit another one — the Palace of the Dukes of Cadaval. In this residence of the Portuguese kings, admire the family portraits of the ancient aristocracy of Portugal, the knightly weapons of the Aviz Order, and the fascinating antique Bibles.

And finally — the Se Cathedral, which proudly towers above all this beauty. It was built at the end of the 13th century, being now one of Portugal’s most interesting Gothic monuments.

 

Собор Се - Эвора
Sé do Porto
Собор Се - Эвора
Inside Sé do Porto

In addition to the main attractions listed above, the entire historic city center is filled with tiny ancient churches, mighty monasteries, large and small palaces, chapels, and aqueducts. So make sure you have enough time to stroll around the narrow streets and plunge into this glorious, enchanting past of Portugal.

Benefits of the Portugal Golden Visa

  • Residence permit for the investor and his/her family members
  • EU citizenship in five years
  • Free migration in 26 Schengen countries
  • Free public school for children
  • First-class healthcare for parents
  • Medical insurance only €200-700 per year
  • Minimum term of compulsory residence: only seven days a year
  • No global income tax for up to 10 years
  • Living in a safe and peaceful country.

Summary

Why is that a hot deal?

Evora Holiday Inn Express investment works for you if you’d like to obtain a residence permit in Portugal and benefit from it but are not interested in moving there. The lowest investment, trusted real estate developer, five-year return on investment, and a great getaway destination — Holiday Inn offers everything an investor needs.

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