Luxury developer, Monte Rei, 4% guaranteed ROI, tops off five-point proposition for GCC investors
Monte Rei, a luxurious residential community, golf and country club set within a thousand acres of unspoiled countryside in Portugal’s Eastern Algarve, has launched a guaranteed 4% annual return on investment over four years for selected Clubhouse Residences.
The new guarantee which applies to two and three-bedroom apartments for four years, was launched ahead of a Middle East roadshow, which began with Abu Dhabi, Dubai, Bahrain and Kuwait, with Riyadh and Jeddah to follow on 4 and 6 November respectively.
Declan McNaughton, Commercial Director, Monte Rei, said: “There are five key pillars to our proposition. A value-driven quality product; no inheritance tax; the non-habitual residence (NHR) tax; the ‘Golden Visa’ and the now the 4% guaranteed return, which tops off our proposition.”
The Golden Visa Program launched by the Portuguese Government is a fast track for foreign investors from non-EU countries to obtain a fully valid residence permit in Portugal (“Golden Visa”). Under this program, non-EU citizens simply need to make one of the qualifying investments to obtain a residence permit in Portugal.
“This residence permit will allow investors and their immediate family members to enter and or live in Portugal, as well as travel freely within the 26 European states that make up the Schengen Area,” added McNaughton.
One of the other major incentives introduced by the Portuguese government are their tax reforms for foreign investors.
The Non-Habitual Residence (NHR) status was introduced to offer investors an opportunity to pay little or zero tax on things like inheritance, the disposal of assets and income from pensions.
GCC investors given NHR status for example, who are tax resident in Portugal can effectively receive tax free incomes for ten years, whether generated in Portugal, here in the GCC, or anywhere else in the world for that matter.
“The tax regime is particularly beneficial for retirees as income which is received from pensions based overseas is not taxed in Portugal,” said McNaughton.
But it’s not just about tax and commercial consideration. According to the FT, accountancy form EY Portugal, said the main decision-making factors for investment in Portugal were quality of life and the stability of the social climate.
“Portugal is ranked third in the World Economic Forum’s Global Peace Index 2019, behind Iceland and New Zealand and has the lowest crime rate in the EU,” added McNaughton.
The 4% guarantee is available on a limited number of two and three-bedroom Clubhouse Residences with prices starting from US$ 932,000 (EUR 825,000).
Overlooking the Atlantic Ocean and Monte Rei’s lakes and fairways and located just minutes from the resort’s clubhouse, these contemporary apartments are sold fully furnished with high-end fittings and finishes and feature comfortable open-plan living spaces complete with floor-to-ceiling windows and outdoor terraces or balconies. Kitchens are fully equipped with branded cooking range appliances.
Clubhouse Residence owners can enjoy access to a variety of exclusive services inclusive of a family golf membership, use of the gym, spa and tennis courts, complimentary use of the kids’ villa, in-house catering, laundry services and transfers from and to Faro Airport at a preferential rate.
“Combining all of these elements, Monte Rei is an unbeatable investment opportunity for GCC nationals a potential luxury holiday home, or a buy-to-let investment property. For other GCC residents it also offers the opportunity to apply for Portuguese citizenship and access to work, residence and travel free travel throughout the Schengen Area,” McNaughton said.
Monte Rei Golf & Country Club, also features a swimming pool, fully equipped gymnasium, spa, tennis courts, children’s play area, various high-end bars and restaurants and 24/7 concierge service as well as the award-winning 18-hole Jack Nicklaus Signature golf course, the only one of its kind in Portugal.