Application based on “investment in real estate”
Q45.Can I apply for temporary residency based on my purchase of real estate in Macao?
A：In the light of Article 1 and Article 2 of Administrative Regulation No.7/2007, new applications for temporary residency based on investment in local real estate allowed by Paragraph 4 under Article 1 of the Administrative Regulation have not been accepted since 4 April 2007, without prejudice to the renewal application of the granted residency and extension application made by interested parties of approved residency.
Q46.If the real estate on which the temporary residency application sets base is mortgaged, what kind of documents should be submitted?
A: If the real estates concerned are mortgaged, applicants should submit the repayment record (whereon the balance of mortgage must be stated) for the recent month issued by the creditor. Under no circumstances the value of the real estate concerned is allowed to be lower than MOP 1,000,000.00 (the value shall be calculated according purchase price) after this property is mortgaged.
Q47.For temporary residency applicants based on investment in local real estate, will their temporary residency applications be affected if their real estates concerned are seized by the Macao Government Tourism Office due to involvement in “illegal inn”?
A: Pursuant to Clause 1 of Paragraph 2 under Article 9 of Law no. 4/2003 enabled by Articles 7 and 23 of Administrative Regulation no. 3/2005, the assessment criteria of temporary residency application must include the situation, demands and safety of the Macao SAR, criminal record of applicants and their compliance to Macao’s law.
Therefore, if it is substantiated that an applicant’s real estate (regardless of whether this property is concerned in the temporary residency application) in the Macao SAR is an “illegal inn”, the approval procedure will be suspended until the result of investigation is released by relevant authorities. The procedure and follow-up works will restart after the result is released.