Why Are Harry and Meghan Buying Property in Portugal?

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RIF Trust on the Portugal Real Estate Confusion

Our COO is David Regueiro. He is our Portuguese Residency by Investment specialist too. It doesn’t surprise him to see the world’s press getting into a lather about a Portugal-related Harry and Meghan story.

This article will scotch some of the rumours as to why the royally estranged couple are buying bought a Portuguese property.

“Unless they’re the recipients of some bad advice,” David asserts, “there’s no truth to the suggestion that Harry and Meghan are investing in Melides real estate to secure a Portuguese Golden Visa.”

“The Portuguese government eliminated the property investment option in 2023.”

The RIF Trust Chief Operating Officer concludes: “Whatever their motivations for purchasing property in Portugal, you can see why a Portuguese Golden Visa appeals. They are both Third Country Nationals (TCNS). Following the loss of free movement around the Schengen area that came with Brexit, Harry could reclaim that (and his wife also enjoy this privilege) and they’ll qualify for a Portuguese passport in 5 years’ time.”

What is the Real Reason Behind Harry and Meghan Buying a Portuguese Home?

Melides is in Alentejo, the less touristy part of Portugal that borders the Algarve. It’s what The Huffington Post describes as “Portugal’s South Central.” Vogue, meanwhile, labels the region as the “Hamptons of Portugal.”

Harry and Meghan appear to be adding to their property portfolio. This includes their $15 million US base in Montecito, California. Their real estate collection no longer features the UK’s Frogmore House where their security detail knew them as David Stevens and Davina Scott (after they’re being the Duke and Duchess of Sussex).

The Royal Family connection is tied to the Portuguese property purchase. Prince Harry’s cousin, Princess Eugenie (daughter of Andrew and Fergie), owns a home in Portugal. Harry’s father, King Charles III, 75, is being treated for cancer.

Whilst relations between British regent and younger son have cooled somewhat, Harry is interested in being closer to the UK. Alentejo is a whole lot nearer than California. So, that could well be a factor behind purchasing a new home in Portugal.

There has even been speculation about marital difficulties being a reason behind the buying of Portuguese property. That Meghan is seeking a divorce and wants the house to help her qualify for a Portuguese Golden Visa. This is unlikely as 1.) the couple purchased the Melides home together and 2.) buying real estate doesn’t make your eligible for Residency by Investment in Portugal.

We are not a fly on the wall in the royal household. Only Harry and Meghan, along with their closest advisors, know the truth behind this Portugal story. What is more important is what Portugal can do for you.

What You Have in Common With Harry and Meghan

As David Regueiro earlier indicates, the Portuguese Golden Visa is only available to Third Country Nationals. The EU defines TCNs as non-European citizens. Harry and Meghan have British and US passports respectively.

With Portuguese residency, you can travel easily around the 29 countries making up the Schengen zone. Access to this area is about to get more restricted to TCNs. The new EU Entry/Exit System (EES) launches in November 2024.

European travel is becoming like peeling an onion. Every time you think you’ve reached the centre, you uncover a new layer. To extend the analogy, European residency is akin to a chef expertly wielding the sharpest knife that cuts through all the red tape.

Portuguese Passport Power

Harry and Meghan might have their eyes on Portuguese citizenship too. There is a 5-year countdown to eligiblity. This Portuguese nationality clock starts ticking from the moment you apply for a golden visa in Portugal rather than when you first receive one.

As a Portuguese citizen, you’re no longer a TCN. That means you can apply for a Portuguese passport. Our Passport Index ranks this União Europeia passaporte as  the 3rd strongest travel document in the world.

Its passport rank of 181/199 adds together the number of visa-free, visa-on-arrival, and eVisa countries. 199 references the total number of passports in existence. We do not count passports issued by territories such as the Cayman Islands.

With a Portuguese passport you can visit 124 countries without a visa. They include Brazil, Singapore, and the United Kingdom.

A Portuguese passport allows you to enter 30 destinations via a visa on arrival. We’re talking about the likes of Egypt, Indonesia, and Kuwait.

27 countries require you to secure an eVisa with a Portuguese passport. This list features Australia, Canada, and the United States.

This leaves a mere 17 countries for which you have to request a visa in advance to travel to. Afghanistan, China, and Ghana are amongst them.

How to Invest in a Portuguese Golden Visa in 2024

Portugal is an established HNWI investment destination. However, there is a way to obtain a Portugal Golden Visa without investing the standard $500,000 amount. That’s to commit $168,000 with a trusty lender funding the remainder.

RIF Trust will always share the complete picture with you. We know the various Residency and Citizenship by Investment programmes inside out. That allows our expert staff to go into detail about the requirements of investing in a new residency or second citizenship.

We’ll also cover the benefits. Essentially, Residency and Citizenship by Investment is a mechanism to make you SMILE. Dual citizenship or an extra residency can turn that frown upside down.

The S of SMILE stands for Security. We can help you invest in a stable country. In an ever-changing world, some countries are less suspectible to the effects of geopolitics.

M relates to Mobility. European residency makes Schengen area travel easier. This can lead to naturalization and a stronger passport, something that’s more immediate with Citizenship by Investment.

I is for Insurance. You never know what could be just around the corner. A residence permit or passport represents an excellent Plan B.

L is all about Lifestyle. If you want to live in a more glamorous location, a golden visa or second citizenship is a golden ticket.

E refers to Education. To give your children the best possible start in life, having the world’s best schools and universities on your doorstep is a plus.

So, contact us now and we’ll show you how you to apply for a Portuguese Golden Visa.