I understand that after 5-years GV holders can choose to continue renewing their GV or apply for citizenship. If one is to continue living outside of PT, is there anything that one must beware of before applying for citizenship? Are there any advantages or disadvantages of continuing to hold the GV instead of applying for citizenship?
You also have the option of applying for a Permanent Residence, if you don’t want citizenship and want to liquidate your investment.
The disadvantage of forever re-applying for a GV will be you have maintain your investment, and keep submitting your paperwork every 2 years with assistance of your lawyer (which will become costly over time). The other thing to keep in mind is that you’ll need to pass a Portuguese exam at the A2 level for permanent residency or citizenship.
Some countries don’t permit dual citizenship or even permanent residency, so there’s no option for some but to keep renewing their GV. Taxation could be another consideration, but generally if there is a dual tax treaty you will only pay tax on income generated in Portugal only.
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A helpful post and very rich thread with cross-links on this subject. The costs have changed since 2020, but the rules (on what happens after 5 years https://justica.gov.pt/Guias/como-obter-nacionalidade-portuguesa?pk_vid=e32a012f6820c5da167556664366e281) have largely not: Portuguese Citizenship application after 5 years of Golden Visa - #45 by susanayang.
The circumstances of the applicant (eg passport, number and age of children) will determine the option chosen. Perhaps continue on that thread, as it will help others find information in one place… ?
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