tableofcontents - Bridgehead Capital

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TABLE OF CONTENTS
1
2
3
4
5
6
7
8
9
OEIRAS GOLF & RESIDENCE:
LOCATION:
THE INVESTMENT OPPORTUNITY:
SCHEDULE AND PRICE LIST:
PLANS AND SPECIFICATIONS:
THE GOLDEN RESIDENCY SCHEME:
THE MORTGAGE OFFER:
WHY LISBON - CASCAIS?
CONTACT INFORMATION:
What is the Product?
Where is it?
Why invest?
How much will it cost?
Appendices
1.
2.
3.
Your right to permanent residency
Details of local taxes
Who we are
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The Golden Residency Scheme
Purchase Costs in Portugal
Morningbridge Introduction
Qualifying criteria
Exclusively through Banco Espirito Santo
Why not somewhere else in Europe?
What next? How do I buy one?
1.
OEIRAS GOLF & RESIDENCE
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On the left is a master-plan showing the layout of the project and on the right is a typical apartment block. Oeiras Golf & Residences are built
on a site of 112 hectares with construction areas of around 300,000 M². The project consists of T2 to T4 apartments, semi-detached and
terraced houses and plots of land for sale/ construction which are surrounded by good size gardens.
This project has been finished to a very high standard. Oak wooden floating floors in the houses and Beech in the apartments, Washrooms and
bathrooms are tiled with black rustic slate with white marble tops and mosaic wall tiles. Some of the apartments have very good quality
travertine stone with white lacquered wooden furniture. There are also alarm systems and video entry systems. Well fitted, fully applianced
kitchens all with granite tops.
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2.
LOCATION
Located in the municipality of Oeiras, close to Tagus Park, Quinta da Fonte, Lagoas Park and the Oeiras Park shopping centre, Oeiras Golf and
Residence is perfectly positioned between downtown Lisbon and the fashionable weekend towns of Cascais and Estoril.
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3.
THE INVESTMENT OPPORTUNITY
Morningbridge is pleased to offer the exclusive opportunity to acquire a house or apartment in one of Portugal’s newest resorts which will also
qualify the purchaser with the right to acquire a Golden Residence Permit. Due to its location there is also a developed rental market with both
local market and holiday makers and there are already proven yields from this development. Investors should expect to achieve holiday lets of
around 18-20 weeks per year (at 3%-to-4% per year). There is also the residential market, long lets to locals, because of the proximity to Lisbon
and the business parks.
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



Eligibility to qualify for the Golden Residence Permit*
Guaranteed rental returns for the first three years of 3.5% net per annum
Furniture contribution between €10,000 and €30,000 depending on the unit selected
All Condominium fees and service charges paid for by the Developer (for the first three years)
Established rental market for future returns (post three year rent guarantee period)
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4.
SCHEDULE & PRICE LIST
There are 20 apartments, 8 terraced houses, 6 semi-detached houses, and 24 plots of land.
This project has been very popular and over 75% of the 1st phase have already been sold to both the local market and holiday makers alike.
Detailed below is a selection of units we have exclusivity on and are for sale:
Unit No.
Type
No. Of Bedrooms
Size Gross Area +
Garage M²
Balconies M²
Gardens M²
Price €
102
Semi-Detached
4
292
18
505
€
595,990.00
106
Semi-Detached
4
323
18
607
€
647,350.00
106
Semi-Detached
4
323
18
541
€
615,250.00
112
Semi-Detached
4
347
19
523
€
707,590.00
112
Semi-Detached
4
347
19
692
€
705,235.00
120
Semi-Detached
4
296
18
528
€
592,780.00
134
Town House 3
4
220
6
95
€
500,000.00
134
Town House 4
4
220
6
95
€
416,230.00
138
Town House 4
4
263
7
101
€
470,800.00
138
Town House 5
4
263
7
101
€
470,800.00
138
Town House 6
4
263
7
101
€
470,800.00
138
Town House 7
4
263
7
101
€
535,000.00
138
Town House 8
4
263
7
101
€
535,000.00
139
Town House 2
4
220
6
135
€
422,115.00
Houses
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Building
Floor
Unit
No. Of Bedrooms
Area M²
Balconies and
Terraces M²
Parking Places
3
4
1
2
3
3
3
4
1
1
2
2
3
4
1
1
3
3
4
4
E
R
B
C
E
F
O
R
A
B
C
D
E
G
H
I
N
O
Q
R
3
2
3
3
3
3
3
2
3
3
3
3
3
4
3
3
3
3
2
2
133
120
130
133
133
130
134
120
133
130
133
130
133
199
139
134
139
134
110
120
24
123
12
24
24
19
22
123
14
12
24
19
24
85
10
5
20
22
39
123
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
Price €
Apartments
8A
8B
9A
9A
9A
9A
9B
9B
10A
10A
10A
10A
10A
10A
10B
10B
10B
10B
10B
10B
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€
€
€
€
€
€
€
€
€
€
€
€
€
€
€
€
€
€
€
284,405.00
251,664.00
259,475.00
276,810.00
294,785.00
280,340.00
291,470.00
269,320.00
257,870.00
259,475.00
258,619.00
251,878.00
294,785.00
SOLD
249,096.00
256,693.00
281,731.00
288,472.00
224,379.00
251,664.00
5.
PLANS & SPECIFICATIONS
Four Bedroom Townhouse (from € 416,230.00)
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Oak wooden floating floors
Washrooms are floor tiled in black rustic slate the tops in white marble
Semi equipped kitchens with granite worktops
Burglar alarm system with gas leak and fire alarms standard
Video surveillance system.
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Four Bedroom Semi-Detached Houses (from €592,780.00)
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Oak wooden floating floors
Washrooms are floor tiled in black rustic slate the tops in white marble
En suite bathrooms tiled in moleano with wooden furniture
Semi equipped kitchens with granite worktops
Burglar alarm system with gas leak and fire alarms standard
Video surveillance system
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2 Bedroom Apartment (from €251,664.00)
Apartment Specification:
 Beech wood floating floor
 Washrooms with Tavertine polished stone flooring and countertops.
 All en-suite bathrooms with cream tiled walls, floor and countertops in
“Marmol”, wood furniture lacquered in white
 Fully-equipped kitchens, tiled walls, tiled floors and granite worktops
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Three Bedroom Apartment (from € 240,964.00)
Apartment Specification:
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Beech wood floating floor
Washrooms with Tavertine polished stone flooring and countertops.
En-suite bathrooms, tiled walls, floor and countertops in “Marmol”
Fully-equipped kitchens, tiled walls, tiled floors and granite worktops
Four Bedroom Apartment (from €347,964.00)
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6.
GOLDEN RESIDENCY SCHEME
Under the terms of the Golden Residency Scheme (GRS*) in order to qualify a minimum of € 500,000 needs to be invested in Portuguese
property in Portugal. This means that a few potential buyers would have to buy two apartments at this location in order to qualify. Due to the
structure of the deal Morningbridge has negotiated, this does not mean that clients have to pay two sets of fees and you effectively get two
properties for the fees of one!
 Single legal fee of €7,500 to cover the legal fees for all the properties conveyancing and including your Golden Residency Permit
applications and renewals
 Guaranteed rental yield of 3.5% net for each of the two properties over the three year term (paid quarterly in arrears).
 Furniture contribution for each property (amount dependant on unit chosen but between €10,000 and €30,000)
 Single Notary fee payable.
 Mortgage terms available on any sums in excess of €500,000 if required
*Please see Appendix 1 for a full explanation of the Golden Residency Scheme
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7.
THE MORTGAGE OFFER
We can help you with arranging a mortgage in the event that you wish to purchase real estate units for more than the
€500,000 minimum equity investment required (for the Golden Visa scheme).
Bank Finance is Available for sums in excess of €500,000. Mortgage finance is provided by Banco Espirito Santo (BES). The mortgage
application process will be arranged exclusively through Morningbridge.
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Up to 40 years repayment term so as long the buyer doesn’t exceed 75 years of age
BES - Mortgage arrangement / product fee, non-refundable, € 500 payable at reservation
No Valuation fee
Life assurance only required for mortgages > 50% Loan-to-Value and can be arranged through BES if required
Euribor 6 months (Currently 0.329) + 3.25% if LTV ≤80%. + 3.75% if LTV ≥80%
Morningbridge can also help you with managing your investment in your absence so that the owned real estate
generates a reliable income for you. This is done on a revenue sharing basis, whereby you as Owner collect 80% of total
revenues generated from the units owned (20% going to the managing company). 30% of revenues generated are
estimated to cover running costs. This means you are likely to receive 50% of gross yields before tax.
Please note that your rental income is subject to tax at the prevailing rate. In addition, you will be entitled to a
minimum guaranteed rental return for the first three years of ownership, as follows:
Rental Returns:
 3.5% per year (paid quarterly in arrears and per property)
 All rents collected in years 1 to 3 are paid to the Developer to offset the upfront three year rent payment and free resort costs as all the
running costs in years 1 to 3 are paid by the Developer
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8.
WHY LISBON/ CASCAIS:
Oeiras Golf and Residence is ideally located between the capital city of Lisbon, with all the transport links and shopping opportunities you’d
expect from a capital city, and the towns of Estoril and Cascais where the wealthy Portuguese spend their leisure time and money in the
numerous shopping arcades and centres that these towns are known for.
Also due to its location purchaser’s can expect robust rental returns from both holiday lettings and local market where it is ideal for those
working in Lisbon.
Things to see and Do: Activities available in Oeiras include the following:
Activities
Swimming
Activities
Boat Trips
Activities
Canoeing
Cycling
Diving
Wind Surfing
Tennis, Football
Country Walks
Sailing
Mountain Biking
Horse Riding
Surfing
Paragliding
Bowling (10 pin)
Golfing
Events & things to do
Shopping (2 centres in Oeiras, 3 centres in Cascais)
Beaches (2 beaches in Cascais 1 in Oeira)
Street Markets
Casinos in Lisbon and Troia
Carnival (February)
Out Jazz Festival (September)
Restaurants and Clubs, Nightclubs
Museums
Fado
Lisbon Film Festival (April)
Lisbon Festival (June)
World Class Football teams
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Temperatures/Climate:
January February
March
April
May
June
July
August
September
October
November
December
High
⁰C/⁰F
14/57
15/59
18/64
18/64
22/72
25/77
29/84
28/82
28/82
22/72
17/63
14/57
Low
⁰C/⁰F
8/46
9/48
10/50
11/52
13/55
16/61
18/64
18/64
18/64
15/59
11/52
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9.
CONTACT INFORMATION
Reservation Procedure: Once properties have been selected they will be held for 7 days pending the completion of the reservation agreement
and payment of the 5% deposit. Once this has been executed, Morningbridge will send back the signed agreement as a receipt. You then need
to apply for a Visa to Portugal where you will be put in touch with PLMJ who will start on the Residency Permit application and Property
Conveyance on submission of the completed documentation. For further information and/ or to reserve a property, please contact any of the
team below:
Attn: Peter D Lowe - Managing Director
Mobile UK: +44 777 5948785 Mobile Portugal: +351 911075512
Website: www.bridgeheadcapital.co.uk
Email: [email protected]
Skype: peteratpcl
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Attn: Chris Eddis - Managing Director
Tel: +44 20 7292 1746 Mobile: +44 778 8441966
Website: www.morningtoncapital.com
Email: [email protected]
APPENDIX 1 - INTRODUCTION TO THE GOLDEN RESIDENCY SCHEME (GRS):
Portugal has introduced, in October 2012, a “Golden Residency Scheme” (GRS) allowing for non-EU residents to qualify for Portuguese residency and
passport entitlement in exchange for investment into the country’s economy.
Golden Residency Scheme: On October 8th 2012 the Portuguese Government passed legislation allowing non-EU individuals who invest in Portugal, under
certain criteria, the right to temporary Residency followed by the right to a Portuguese (European) passport if further conditions are met.
Criteria:
(1) Capital investment of €1,000,000 or greater into Portugal, OR
(2) Create a minimum of 10 jobs in Portugal, OR
(3) Invest a minimum of €500,000 of equity in real estate assets. Any sums above this minimum figure can be subject to a mortgage.
The right to residency requires that individuals spend at least 7 days per annum (consecutive or interrupted) in Portugal/Schengen area of Europe in the
first year and then an aggregate of 14 days (consecutive or interrupted) over the next two years and in the period of two years after that. If the criteria
above are adhered to for a period of six years, the investor then has the right to apply for a Portuguese (European) passport.
In order to obtain a Residency Visa, the applicant must: (1) Enter Portugal on a valid Schengen Visa. (2) Apply for Residency within 90 days of entry. (3)
Comply with the general requirements of temporary residence.
Golden Residency Scheme (GRS): How it works:
Once you’ve finalised your real estate purchase selection, you will then need to appoint a legal representative to proceed with the purchase and to register
your interests in the GRS. We have partnered with PLMJ Law Firm to offer these services which will include the ongoing renewal of your GRS. The legal
registration is split into two parts, firstly the legal process of buying the property (conveyancing) and secondly the process of applying for the Golden Visa
(application). The steps are as follows:
 Select a Property and sign a binding Reservation Agreement with a 5% deposit payment.
 Sign PLMJ’s Terms of Business which appoints the firm as your legal representative in Portugal.
 Sign PLMJ’s Power of Attorney (PofA) to enable them to act for you – in order to obtain Fiscal Numbers*, to organise fiscal representation and to
look after your legal affairs in Portugal (Property Conveyance(s) & Golden Visa application(s)).
 PLMJ will progress property purchase to Promissory Contract with 20% down payment less 5% already paid at reservation.
 After Promissory Contracts are signed, the application for the Golden Residency Permit application process can start.
For the Golden Visa application, PLMJ will require the following from the Purchaser:
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 Valid Passport, a Schengen Visa to enter the country initially and travel onward documents.
 Proof of valid medical insurance and proof of address.
 Property documents proving ownership/purchase of property (signed Promissory Contract with payment of a deposit for purchase above €
500,000).
 Declaration from a bank in Portugal confirming receipt of the funds.
 Absence of criminal conviction (Criminal Record) and of interdiction to enter the country.
 Absence of notice from the Portuguese Immigration Authorities or Schengen Services
 Declaration from the investor confirming compliance with the investment requirements
*Please note that PLMJ does not provide Fiscal Services but will liaise with relevant parties who do on your behalf. For the sake of clarity the
services herein to be provided by PLMJ do not include tax planning or tax advice. However, these are provided by PLMJ subject to a separate
agreement and upon request.
PLMJ will then process all the documentation on your behalf (for up to 3 family members) including the two bi-annual renewals.
PLMJ Fees: €7,500 for the property acquisition (conveyancing) and the Golden Residency Permit application for up to three family members including the
principal applicant. Additional qualifying family members can be added for a one-off fee of €500 (including initial application and two renewals).
 Application Fees (charged by the Portuguese Authorities)
- Processing Fee (initial application and renewals) - € 513.75
- Initial Investor Residency Permit - € 5,137.50
- Renewal of Investor Residency Permit - € 2,568.75
- Initial Residency Permit for Family Members - € 5,137.50
- Renewal of Residency Permit for Family Members - € 2,568.75
 Conditions that are required to be met for the Grant &/or Renewal of the Golden Residency Permit:
- Residency Permit granted for an initial period of 1 year & renewed for periods of 2 years
- Minimum stays in Portugal – 7 days first year & 14 days following periods of 2 years
- Possibility of permanent residency after year 5 and nationality one year later
- Bearers of Investor Residency Permits may travel freely in the Schengen area
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APPENDIX 2: INFORMATION ON PURCHASE COSTS WHEN BUYING IN PORTUGAL
IMT - Imposto sobre Transmissões Onerosas de Imóveis:IMT is the tax payable by the buyer on acquisition of property. The tax payable is
calculated on the purchase price of the property declared by the parties on completion. For residential property for non residents/second
home see table below showing latest costs:
Property value
Up to € 92,407
Over € 92,407 up to € 126,403
Over € 126,403 up to € 172,348
Over € 172,348 up to € 287,213
Over € 287,213 up to € 550,836
Above € 550,836
Rate
Amount to be deducted
1%
€ 0.00
2%
€ 924.07
5%
€ 4,716.16
7%
€ 8,163.12
8%
€ 11,035.25
Single rate of 6%
Please note: Some other cost like registration fees etc. will also have to be paid but these are small costs and PLMJ will go through all these
costs with you once you have selected an apartment/villa and Morningbridge have introduced you to them.
STAMP DUTY - Imposto de Selo: Stamp Duty is also payable on acquisition of property and is calculated on the purchase price declared by the
parties on completion. It is also payable if a mortgage is required for the purchase and is calculated on the value of mortgage. PROPERTY –
SINGLE RATE OF 0.8% ON THE PURCHASE PRICE + MORTGAGE – SINGLE RATE OF 0.6% ON THE VALUE OF THE MORTGAGE
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APPENDIX 3: MORNINGBRIDGE INTRODUCTION:
Bridgehead Capital (BCL) - A property development and sales specialist with over 15 years experience in the Portugal market (see
www.bridgeheadcapital.co.uk ), has partnered with Mornington Capital (MC) - A hotel and real estate investment, finance and turnaround
management firm (see www.morningtoncapital.com), for the workout, repositioning, operation and sale of various real estate and hotel
opportunities in Portugal and will trade under the name Morningbridge.
BCL is a UK company and has been active in Portugal for over fifteen years as well as Grenada and Bulgaria alongside its business interest in the
UK. The company has significant international property investment experience and has worked in partnership with many international
property developers, banks and institutions over the last 15 years.
MC is a UK company that has specialised in the investment into, financing of and active asset management in the hotel and real estate sector,
across western and central Europe, the Americas and Asia. Its hotel experience has included financing the expansion of Thailand-based Six
Senses Hotels and Resorts, part ownership of a luxury hotel in St Barts in the Caribbean, and management and ownership of other hotel assets
in Germany, UK and the Czech Republic.
Morningbridge have created a truly one-stop-shop for investment buyers in Portugal to make their investment as worry-free as possible. We
have organised partnerships or established companies in Portugal to make sure the needs of the investor(s) are looked after post property
purchase and visa application. If the services are required we are able to provide the following: (1) Letting & Management. (2) Garden
Maintenance & Pool cleaning. (3) Furniture set-up.
PLMJ: PLMJ is one of the leading Portuguese law firms in both size and market reputation. It operates from offices all over Portugal, as well as
the Portuguese speaking countries of the world including Brazil, Angola, Mozambique, East Timor and Macau. They also have representational
offices throughout China via Dacheng Law Offices.
PLMJ is known internationally for its professional reputation, which includes:
 High ethical standards which is cohesive, socially responsible, specialised and competitive
 Providing a first-class legal service
 Strong international partnerships
 Good focus on client’s requirements and then delivering a quality service at a reasonable price.
 Ability to constantly adapt to the competitive and regulatory environment’s
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DISCLAIMER:
Bridgehead Capital Ltd. - Company no: 6942009 (BCL) & Mornington Capital – Company no: 3503790 (MC) – Trading in Portugal as:
Morningbridge. Morningbridge (BCL & MC) take all reasonable care to ensure that the information contained in all of its documentation is
accurate and all details provided are for guidance only and any investment models, cost projections, photographs, floor plans, sizes and
specification are subject to changes and only give a general indication of the property. Morningbridge (BCL & MC) cannot warrant the
accuracy, adequacy or completeness of the information and expressly disclaims liability for errors or omission therein. It is the responsibility of
the purchaser/ investor to take such legal and financial advice as they think fit bearing in mind the nature of the investment.
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