I understand that some people want a Euro passport while spending as little time as possible in the GV country. But what if you plan to retire in Europe? I am considering France or Portugal. Portugal has the NHR advantage and an amazing coastline. In France I have a few relatives and have previously lived there.
My question is, if I can get citizenship by living 5 years in a beautiful country like Portugal why not go down that route? The GV options seems rather expensive in terms of administration fees. It is something like 5K the first year and half that for each 2 year renewal. As far as I can see the advantage of GV is that you don’t have to be a tax resident of Portugal but with the NHR scheme why not be one?
Citizenship for France is also 5 years. France doesn’t tax IRAs or social security. Nor do you have to pay social charges on either of those. I do believe you have to on income from dividends, bonds, and real estate though. They also have a wealth tax on real estate but it is set at a far higher level than that of Portugal. My understanding though is the NHR has no wealth tax.
I feel it is worth being a tax resident is to get affordable health insurance and the health care in both countries is ranked very high.
So is the GV an unnecessary cost if you plan to live there anyway?