Project Description

Call 50 – Tourism and Industry: Purchase and Rental

Tourism Grants

With a maximum financing rate of 60%, this financial instrument is characterized by the sale and subsequent long-term lease of a property, safeguarding the right to buy it back. The aim is to support investment in the adaptation, requalification and modernisation of properties used for tourism or industrial activity – or in their conversion to tourism activity when they are located in Low Density Territories.

Download the Infosheet

Support Status

Open

Financing

Up to 6.000.000€

Territory

Mainland Portugal
Autonomous Regions

Eligible Entities

Enterprises

Call 50 – Tourism and Industry: Purchase and Rental

Tourism Grants

With a maximum financing rate of 60%, this financial instrument is characterized by the sale and subsequent long-term lease of a property, safeguarding the right to buy it back. The aim is to support investment in the adaptation, requalification and modernisation of properties used for tourism or industrial activity – or in their conversion to tourism activity when they are located in Low Density Territories.

Download the Infosheet

Support Status

Open

Financing

Up to 6.000.000€

Territory

Mainland Portugal
Autonomous Regions

Eligible Entities

Enterprises

Incentive Conditions

  • This financial instrument is characterized by the sale and subsequent long-term lease of a property, safeguarding the right to repurchase it, and aims to provide the liquidity to enable investment in the adaptation, requalification and modernisation of properties allocated to tourism or industrial activity – or in their conversion to tourism activity when they are located in Low Density Territories.

  • Mainland Portugal and the Autonomous Regions.

  • The application of funds for sale and leaseback operations, to be carried out with owners of real estate allocated to tourist or industrial activity, should consider:
    • A minimum limit of 20 percent of the acquisition value for investment in fixed capital, whether tangible or intangible;
    • A maximum limit of 60 per cent of the acquisition value for settling debts with financial institutions.
  • In sale, invest and lease operations (operations in which the bidder does not own the property that is the object of the operation), the bidder must invest in the property, considering a minimum limit of:
    • 25% of the acquisition value of the property by the fund, in the case of properties currently used for tourism;
    • 50% of the property’s acquisition value by the fund, in the case of properties for which the investment consists of their conversion to tourist use.

  • The annual rent will be paid monthly and will correspond to the application of a rate of 4% on the value of the operation. The rate is levied on the purchase price (excluding IMT, IS and deed costs).
  • The rent will be updated annually in accordance with the coefficient for the annual updating of rents for urban leases, published annually by notice in the Diário da República. Exceptionally, in the first year of the lease, the rent will be updated by a maximum of 3%.
  • For properties used or to be used for tourism located in Low Density Territories (TBD), a rate of 2.5 per cent may be applied, to be assessed according to tourist density.

  • Up to 15 years.

  • The operations to be carried out translate into the acquisition of property, for subsequent rental, up to a maximum amount of €6,000,000.
  • The purchase price will correspond to a maximum of 85% of the simple average of the property’s appraised value.

  • They must be in good standing with the Tax Authority and Social Security;
  • They are registered in the Central Registry of Beneficial Owners (RCBE);
  • Have no (unjustified) incidents on the map provided by the Central Credit Register (CRC) maintained by the Bank of Portugal.

  • They must be free of liens or encumbrances (on the date the operation is realized);
  • The property’s registration and ownership status has been regularized;
  • They have a license or authorisation for use, if applicable;
  • Have an energy certificate (SCE), when applicable;
  • Have a building license to be paid for or issued, applicable to properties to be used for tourism and located in Low Density Territories.

  • The Call’s main recipients are:
    • Companies that own property used for tourism or industrial activity (sale and leaseback operations).
  • In addition, the following are also eligible:
    • Companies that do not own property used for tourism but intend to invest in its requalification and subsequent rental (sale, invest and leaseback operations);
    • Companies that do not own property that is not used for tourism and is located in Low Density Territories, but intend to invest in its conversion for tourism use and subsequent rental (sale, invest and lease operations).

Incentive Conditions

This financial instrument is characterized by the sale and subsequent long-term lease of a property, safeguarding the right to repurchase it, and aims to provide the liquidity to enable investment in the adaptation, requalification and modernisation of properties allocated to tourism or industrial activity – or in their conversion to tourism activity when they are located in Low Density Territories.

Mainland Portugal and the Autonomous Regions.

The application of funds for sale and leaseback operations, to be carried out with owners of real estate allocated to tourist or industrial activity, should consider:
A minimum limit of 20 percent of the acquisition value for investment in fixed capital, whether tangible or intangible;
A maximum limit of 60 per cent of the acquisition value for settling debts with financial institutions.
In sale, invest and lease operations (operations in which the bidder does not own the property that is the object of the operation), the bidder must invest in the property, considering a minimum limit of:
25% of the acquisition value of the property by the fund, in the case of properties currently used for tourism;
50% of the property’s acquisition value by the fund, in the case of properties for which the investment consists of their conversion to tourist use.

The annual rent will be paid monthly and will correspond to the application of a rate of 4% on the value of the operation. The rate is levied on the purchase price (excluding IMT, IS and deed costs).
The rent will be updated annually in accordance with the coefficient for the annual updating of rents for urban leases, published annually by notice in the Diário da República. Exceptionally, in the first year of the lease, the rent will be updated by a maximum of 3%.
For properties used or to be used for tourism located in Low Density Territories (TBD), a rate of 2.5 per cent may be applied, to be assessed according to tourist density.

Up to 15 years.

The operations to be carried out translate into the acquisition of property, for subsequent rental, up to a maximum amount of €6,000,000.
The purchase price will correspond to a maximum of 85% of the simple average of the property’s appraised value.

They must be in good standing with the Tax Authority and Social Security;
They are registered in the Central Registry of Beneficial Owners (RCBE);
Have no (unjustified) incidents on the map provided by the Central Credit Register (CRC) maintained by the Bank of Portugal.

They must be free of liens or encumbrances (on the date the operation is realized);
The property’s registration and ownership status has been regularized;
They have a license or authorisation for use, if applicable;
Have an energy certificate (SCE), when applicable;
Have a building license to be paid for or issued, applicable to properties to be used for tourism and located in Low Density Territories.

The Call’s main recipients are:
Companies that own property used for tourism or industrial activity (sale and leaseback operations).
In addition, the following are also eligible:
Companies that do not own property used for tourism but intend to invest in its requalification and subsequent rental (sale, invest and leaseback operations);
Companies that do not own property that is not used for tourism and is located in Low Density Territories, but intend to invest in its conversion for tourism use and subsequent rental (sale, invest and lease operations).

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