Option A: Obtaining Portuguese Passport for Yourself and Your Child
Golden Visa Route:
- Cost incurred (all amounts in euros):
- Obtain NIF tax number through a person on fiverr - 100
- Open a bank account - 0
- Complete fund KYC process
- Transfer 500,000 euros to a personal account in Portugal
- Transfer funds to the fund company
- Prepare all documents for immigration approval
- Immigration approval, landing in Portugal, and fingerprinting - 774*2
- Additional immigration approval - 774*2
- After approval, pay the initial card production fee for the Golden Residence Card - 7730*2
Subtotal: Total expenditure up to this point - 17,104
Time cost and risk:
If there are no expedited approvals or queue jumping after the new regulations, it could take a considerable amount of time to obtain the first residence card. Based on forum posts, the entire process seems to have four stages, and most individuals take around 2 years to obtain the card.
11. The first card is valid for 2 years, requiring a stay of 14 days or more // considered as travel cost, not included
12. Renewal fees for subsequent cards - application fee 774 * 2
13. Card production fees for renewals, obtaining a new card with a validity of 3 years - 3866 * 2
Subtotal: Renewal costs - 9280 euros
14. According to some forum posts, another card renewal may be necessary, leading to additional costs - 774 * 2 + 3866 * 2
Subtotal: Additional renewal costs - 9280 euros
15. The cost of obtaining the passport is unknown.
Total estimated expenditure up to this point: 35,664 euros
- Various translation and notarization costs
- Costs related to A2 language learning and exams
- Legal fees: Reports suggest legal fees range from 6000 to 15000 euros due to Portuguese bureaucracy.
Approximately 2 years for card approval, 5 years of holding, and another 2 years for the next application = 9 years.
Requirements for materials provided by the immigration office include notarized and translated documents.
There are 4 or 5 open-ended funds that meet the criteria, with 2 of them being established for over 20 years, investing in top financial, energy, and utility companies in Portugal.
Fund return rate and holding costs:
Average return rate over the past 5 years is 5.5%
Management fees around 2%, resulting in a net return of 3.5%
Non-residents are exempt from personal income tax, but an annual declaration is estimated to cost 310 euros/year.
500,000 * 3.5% = 17,500 euros/year
5 years = 87,500 projected income
7 years = 122,500, including withdrawal after approval queue
9 years = 157,500, after obtaining passport and withdrawal
Risk: Financial crisis in Portugal, prolonged decline in the PSI20 index, or Euro exchange rate risk.
Option 2: Have a Child and Obtain a Passport for Your Child
According to available information, obtaining any legal Portuguese visa seems possible.
There is some conflicting information regarding:
- Holding a valid visa for 1 year
- Actual residence for 1 year
The details are not yet clear, but regardless, if this is the goal, it seems possible to obtain any visa at a low cost, perhaps spending only a few thousand. This also eliminates the need to endure a lengthy 2-year approval process, and with actual residence, it could take 3 years.
I am not sure if there are significant deviations in the information I have compiled, and I welcome corrections.