Hotel Lisbon Golden Visa - 002

Golden Visa Portugal provide New legal provisions for those who pursue investment activities in Portugal to apply for a Residence Permit, for example, those who transfer capital, create jobs or acquire real estate.

The holders of a Golden Residence Permit for the purposes of investment activity have the right tofamily regrouping, and may gain access to a permanent residence permit, as well as to Portuguese citizenship in accordance with the current legal provisions and be able to travel without restrictions in Europe.

The total amount to apply and obtain the Golden Visa is around 6000 euros (charged by Portuguese Government) and the minimum real estate investment is 500000 euros

The Project

The property is located in central Lisbon, close to some of the major universities in the city. It has a very central location being situated approximately 4.5 km from the airport, 3 km from “Avenida da Liberdade” (one of the main shopping streets) and 4.3 km from "Bairro Alto" (center of nightlife) and "Chiado" (along “Avenida da Liberdade” is one of the strongest commercial streets), among other places.

As its seen in the: Pin "A" is the property. “UNL” – Universidade Nova de Lisboa less than 1km away, with ~15,000 students (many away from home). "IST” – Instituto Superior Técnico, across the street, with ~11,000 students (many away from home).

The Building

The building has a very solid and good foundation. Built ~50 years ago using "Placa". Only the rooftop over the attic is in tile. It is in need of refurbishment both in the facade and interior. To best evaluate the refurbishment needs you can check out the photos in attached (photos "as is", showing both the good and the bad). The 2 elevators are out of service at the moment, since nobody is living there.

The Architecture/Business

The building currently has 2 6-bedroom apartments per floor, totaling 60 rooms total, plus big kitchens, dining room, living room. So "how many apartments" can be built depends on the configuration of apartments that an investor would like to make. The promoter can keep the 6 bedroom apartments or make, for instance, 4 3-bedroomed apartments per floor. Or even, if for student residential or hostel, something slightly different.

The entire building from the entrance floor up is free/unoccupied. The only things leased at this moment are the garages. They are leased to a car company (seller & repairer). Income from garages leases alone is currently €5,000 per month (€60,000 per year) before taxes. But this is based on an old contract that can possibly even be renegotiated.

As for the bedrooms, average lease value in the neighborhood is around €320/month/room.

Instituto Superior Técnico – ISL (the Engineering University across the city) was negotiating to buy this building 3 years ago. They wanted to do student apartments. They even had put requests for authorization on buildingtwo extra floors in height, which had already been approved by the City Hall.

Total cost of ownership is currently ~€5,000/year = ~€4,700 for the Municipal Tax on Property and ~300 for Sewer Utilization Tax.

Target

Investors interested in having a property / hotel in the center of Lisbon, one of the most fashionable cities in Europe, plus the fact that it is close to some of the major universities in the city.

Also people from around the world who want do obtain Portuguese citizenship through golden visa. To apply for the golden visa you need to fill the Portuguese Government requirements through the proper agency – SEF (http://www.sef.pt/documentos/56/ARIEN2.pdf) - The total amount to apply and obtain the Golden Visa is around 6.000€.

Commercialization

Price – 10 ME.