Mercan CMS

Category: Investment

  • Mercan Group’s €13M Investment Boosts Algarve Presence

    Mercan Group is strengthening its investment in the Algarve region by acquiring the Hotel Califórnia Urban Beach, situated at Praia dos Pescadores in Albufeira. Under the management of AHM – Ace Hospitality Management, a company within the Mercan Group responsible for managing and developing hotel assets since April, this acquisition bolsters the group’s presence in the area.

    This investment, exceeding 13 million euros, encompasses the refurbishment of the property and has led to the creation of 31 jobs at the Hotel California. It underscores the group’s confidence in the hotel potential within the Algarve region, where it already has various projects in progress, including Hotel Indigo Faro Ribeirinha, Lagos Marina Hotel – Curio Collection by Hilton, Hilton Garden Inn Lagos, Marriott Lagos, and the upcoming Hard Rock Hotel Algarve in Portimão, scheduled to open in 2026.

    While the purchase of Hotel California Urban Beach by the Mercan Group was finalized by the end of 2023, the transition period has now concluded, officially placing the management of the Praia dos Pescadores hotel under the Mercan Group.

    Situated in the charming center of Albufeira, a short stroll from Albufeira Marina, Hotel California Urban Beach enjoys its scenic surroundings. Guests can relish the lively ambiance of Praia dos Pescadores from typical balconies facing the city.

    From the outdoor pool with views of Albufeira to the heated indoor spa offering water circuits, massage, and beauty treatments, guests at Hotel California Urban Beach have access to a diverse range of amenities, ensuring a relaxing stay in the Algarve.

  • Mercan Group’s Sé Catedral Hotel honored at the Make it Right 2023 Awards

    It’s been an incredible year for Mercan Group’s Sé Catedral Hotel, Tapestry Collection by Hilton, now recognized with two prestigious awards for the year of 2023 – the Hilton Excellence Award 2023 and the Tapestry Collection Brighter Award.

    The awards distinguished the Sé Catedral as the best of the Tapestry Collection and as one of the best-performing Hilton hotels worldwide. A celebration that represents our commitment to unparalleled service and a unique experience for all guests and travelers, while being a symbol of excellence for the hotel sector in Portugal.

    The Hilton Excellence Awards recognize hotels that demonstrate exceptional service and extraordinary guest experiences, setting them apart in the competitive hospitality market. The Tapestry Collection Brighter Award highlights the Tapestry Collection by Hilton establishments that stand out for their brand values: individuality, modern design, and authentic relationships.

    These awards were presented personally by Simon Vincent and David Kelly, marking an important occasion for the entire Sé Catedral Hotel team, whose dedication and commitment made this recognition possible.

    We warmly congratulate the Sé Catedral Hotel on these remarkable achievements. Thank you all!

  • Portugal offers the best Golden Visas worldwide in 2024

    Portugal remains at the top of the global rankings for residence-by-investment programs, despite the introduction of new limitations.

    The picturesque country offers a blend of affordability and high-quality living, alongside seamless access to other European nations and a straightforward pathway to EU citizenship, as highlighted by a recent index from consultancy Henley & Partners. Austria and Greece share the second spot in this ranking.

    Despite ongoing discussions about the future of residence-by-investment programs, which grant foreign investors permanent residency through initial investments, golden visas continue to thrive.

    European countries are prominently featured in the index due to their favorable citizenship acquisition processes, visa-free travel within the EU, and opportunities for business setup or residence at a low cost.

    While golden visas face criticism over potentially inflating real estate markets, countries like Portugal and Greece have taken steps to regulate their availability. Portugal, in particular, has responded to housing challenges by reviewing expat tax incentives. Despite these adjustments, Portugal remains an attractive option for foreign investors.

    Other nations, including the United Arab Emirates and Hungary, have also introduced their own residence-by-investment initiatives.

    According to Henley & Partners, a record number of high-net-worth individuals are expected to relocate globally in 2024, with Americans leading the pack in golden visa applications through consultancy services both last year and this year.

  • Can IRA or 401K Investments Qualify for Portugal Golden Visa?

    For US-based clients contemplating residency in Portugal, the golden visa still emerges as a highly attractive avenue. Portugal Golden Visa presents minimal residency prerequisites, requiring permit holders to spend an average of seven days annually in Portugal to uphold residency status. Such flexibility is particularly advantageous for those engaged in professional activities or who are not yet prepared for a complete relocation to Portugal.

    With an investment of 500,000 euros, investors can delve into hospitality management while also paving their way to residency and potentially citizenship in Portugal.

    One notable aspect of this opportunity is the flexibility it offers in terms of funding.

    Investors can utilize funds from their Individual Retirement Accounts (IRAs) and solo 401 (k) to fuel their investment endeavors. By leveraging IRAs and 401 (k) in this manner, investors not only diversify their retirement portfolios but also open doors to international residency and citizenship program.

    Based on this scheme, if Stuart invests in the Golden Visa with his IRA funds, he will save 593 365$.

    *Please note that each case is different and the client should contact always an attorney to check all the details.

    While IRAs/401(k) offer tax advantages, premature withdrawals come with hefty penalties and tax implications that could jeopardize long-term financial plans.

    In contrast, Portugal’s Golden Visa program presents a compelling alternative, especially for those eyeing European residency and citizenship.

    Through investment funds, individuals can embark on a journey towards Portuguese residency, with the enticing prospect of eventual citizenship.

    When evaluating retirement investment options, it’s imperative to consider not only potential financial gains but also the associated tax consequences and supplementary benefits. While IRAs/401 (k) provide tax benefits, investors must tread carefully to avoid penalties. In contrast, Portugal’s Golden Visa program offers a pathway to residency and citizenship without tax penalties, alongside promising investment opportunities.

    In summary, Portugal’s Golden Visa program stands as a beacon for investors seeking both financial security and international mobility. By strategically leveraging investment funds, individuals can secure their retirement while simultaneously paving the way for an exciting new chapter in Portugal.

    Contact our team to embark on your journey towards financial security, international residency, and the possibility of European citizenship

  • The design of the Renaissance Porto Lapa Hotel has received international recognition

    In 2023, the Renaissance Porto Lapa Hotel made its debut as the premier luxury business hotel in the country, a distinction that has now been recognized at the World Travel Awards during this year’s ceremony in Berlin, Germany. This accolade underscores Porto’s rising prominence in the hospitality and tourism sector, an industry that the region views as strategically vital for its future.

    Located at the heart of Porto on Rua de Cervantes, the Renaissance Porto Lapa Hotel began welcoming guests in 2023, representing a significant addition to the Mercan Group Portugal’s portfolio. Beyond its prime location, the project is distinguished by its commitment to sustainable development, contributing to the rejuvenation of approximately two hectares of Porto’s urban landscape.

    The Renaissance Porto Lapa Hotel seamlessly blends innovative aesthetics with operational excellence, aiming to foster a cosmopolitan lifestyle amidst a verdant urban sanctuary accessible to all city dwellers. This architectural approach not only enhances the urban landscape but also serves as a model of sustainable development and design principles.

    Furthermore, the hotel’s design has garnered international acclaim, earning the Silver trophy at the 2023 International Design Awards (IDA) in the Building Of The Year / Hospitality category. This recognition underscores the innovative approach taken by Visioarq and its significant contribution to the hospitality and architectural realms.

    Emphasizing the enhancement of the urban environment, the architectural concept of the Renaissance Porto Lapa Hotel inspires with its blend of simplicity and elegance. It marks a significant milestone in the revitalization of a key area in Porto, reflecting a broader commitment to urban renewal and sustainable development.

  • Internationally Recognized: Renaissance Porto Lapa Hotel Stands Out for Easter Break

    Discover Porto and its timeless allure, with the Renaissance Porto Lapa Hotel as your exquisite sanctuary. Perched gracefully atop the scenic Lapa hill, this Mercan Group gem offers 163 opulent rooms and suites, each enveloping guests in luxury and comfort, while providing sweeping vistas of the city below.

    Selecting the perfect destination for Easter can be a daunting task, especially with the anticipation of numerous new hotel openings. However, according to Harper’s Bazaar Spain, the Renaissance Porto Lapa Hotel in Porto emerges as a standout choice, epitomizing sophistication and indulgence.

    Indulge your palate at the Renaissance Porto Lapa Hotel’s array of culinary offerings, featuring a gastronomic restaurant adorned with cocktails and live music, as well as the enchanting rooftop Sky Bar boasting panoramic city views. This hotel not only promises lavish accommodations but also delivers an unparalleled dining experience, ensuring an Easter retreat like no other.

    Highlighted among the premier destinations for Easter 2024 by Harper’s Bazaar Spain, the Renaissance Porto Lapa Hotel garners praise for its exceptional service, prime location, and enticing dining venues. Whether you’re seeking a brief respite or an extended sojourn, this hotel guarantees an unforgettable Easter escape in the heart of Porto.

  • Renaissance Porto Lapa Hotel and Sé Catedral Hotel Porto triumph at “Oscars of Tourism”

    The Mercan Group‘s hotels in Portugal, managed by AHM, have been honored in the prestigious World Travel Awards 2024.

    These awards, often dubbed as the “Oscars of tourism,” recently unveiled their winners for the year, recognizing two of Porto’s newest additions: the Renaissance Porto Lapa Hotel as “Portugal’s Leading Business Hotel 2024” and the Sé Catedral Hotel Porto as “Portugal’s Leading Design Hotel 2024.”

    Owned by Mercan Properties and the Mercan Group in Portugal, and overseen by AHM – Ace Hospitality Management, these two establishments were celebrated at a ceremony held yesterday in Berlin, attended by their respective general managers.

    Paulo Pereira, director of the Renaissance Porto Lapa, expressed pride in receiving this recognition less than a year after the hotel’s opening. He sees it as a testament to the dedication of the entire team in establishing the Renaissance Porto Lapa as a premier hotel in the city and the country, offering a blend of 5-star service and authentic experiences.

    Bruno Miranda, director of the Sé Catedral Hotel Porto, views this achievement as validation for the hotel’s distinctive concept, designed to captivate and inspire guests. He believes that the hotel’s philosophy transcends mere decoration, embodying a relaxed, vibrant, and creative atmosphere reflective of Porto itself.

    The Renaissance Porto Lapa, part of the global Marriott Bonvoy portfolio, stands as the only property under this brand in Portugal. Situated in Porto’s historic Lapa neighborhood, the hotel offers 163 elegant rooms and suites, a restaurant, two signature bars, and 544 m2 of flexible event space equipped with state-of-the-art conference technologies.

    Meanwhile, the Sé Catedral Hotel Porto, Tapestry Collection by Hilton, marks the debut of the Tapestry Collection by Hilton brand in Portugal. Positioned in front of the iconic Sé Catedral, the 4-star hotel features 77 uniquely designed rooms, each inspired by diverse global influences, along with a restaurant and bar.

    Established in 1993, the World Travel Awards aim to recognize excellence in the global tourism industry, fostering competitiveness and promoting quality across the sector.

  • Breaking Boundaries: A New Chapter in Immigration Law with AIMA Collaboration

    We’re thrilled to share a groundbreaking development: the signing of a historic collaboration protocol between the Lawyers and Solicitors Bar Associations and AIMA. This significant agreement, finalized yesterday, paves the way for solicitors and lawyers to temporarily assess pending cases, thereby easing AIMA’s bureaucratic workload. Notably, this collaboration extends to processes related to granting residence with investment, including the gold visa.

    This partnership signifies a pivotal moment in our ongoing efforts to address the backlog inherited from SEF and modernize legal processes. It underscores our unwavering advocacy and validates prior announcements regarding the government’s proactive stance on tackling the backlog.

    Part of a larger initiative aimed at resolving the backlog, this collaboration represents a forward-thinking approach to managing immigration files, aligning with our advocacy alongside the government. While specific details of the agreement are still unfolding, its existence underscores our collective commitment to driving meaningful change and enhancing legal proceedings’ efficiency.

    This announcement holds great promise for our clients, reflecting both the Government and AIMA’s dedication to alleviating the backlog and enhancing legal services. By leveraging technology and legal expertise, we anticipate significant progress in expediting processes, enhancing transparency, and delivering superior outcomes.

    Rest assured, from our side, we’re fully committed to keeping you informed every step of the way as this collaboration unfolds and further initiatives take shape.

  • Important Update: Release of the Amendment to the Citizenship Law

    We are delighted to announce that the amendments to the Citizenship Law have been officially published today. As previously communicated, these amendments bring about significant changes to the citizenship application process. One crucial aspect of these changes is Article 15, which states: “For the purposes of counting legal residence periods provided for in the present law, the time elapsed since the moment in which the temporary residence permit was requested, provided that the same will be granted.”

    There has been some ambiguity regarding what constitutes the “request” for a temporary residence permit, especially concerning the process of acquiring a golden visa for citizenship purposes. As outlined in our previous article, available here, several possibilities exist, including:

    i) The online submission date
    ii) The date of payment of the online application
    iii) The date of biometrics
    iv) The date of biometrics with no notice of further documents missing
    v) Other moments

    Given the legislator’s intention to address the backlog affecting immigration proceedings, we anticipate that the date of online submission or payment will likely be considered as the “request” for residency calculations.

    While the law is already in effect, the regulation will be implemented within the next 90 days. Once this regulation is finalized, we will have a definitive answer to the question of what moment constitutes the request for a golden visa in the context of acquiring citizenship.

    Please be assured that the team at IAS is fully committed to providing you with comprehensive support and guidance throughout this process. We will continue to keep you informed of any further developments.

  • Being part of Mercan means embodying a global presence

    As Mercan, we embody a global presence as an innovative leader in investment, development, and hospitality.

    In a dynamic world, we stand at the crossroads of vision and innovation, spearheading advancements in foreign investment, development, and hospitality.

    With over 35 years of expertise in consultancy, education, and immigration through investment, our company thrives on deep market insight. These pillars underpin our success.

    Watch the full video below: