U.S. citizen here, very interested in Portugal’s ‘Golden Visa’ by investment program. I have a SEP-IRA account (Self-Employed). Here’s my plan:
- Roll SEP-IRA to Self-Directed IRA
- Invest the Self-Directed IRA into the 350,000e investment fund option
- Leave it there until we achieve Portuguese citizenship
I foresee two things I need to verify:
- from the American side, I need to make sure investing in a Portuguese investment fund isn’t a prohibited transaction that would cancel my IRA’s tax-sheltered status.
- from the Portuguese side, I need to ensure that, even though the investment will be made by my self-directed IRA… that the investment will be linked to me personally and qualify me and my family for the visa, and eventually citizenship.
Has anyone heard of this before? I think it should work but know of no precedent. Would be so grateful for any insight. I plan to reach out to an ERISA lawyer in USA and an immigration lawyer in Portugal so would appreciate any referrals as well.