Has anyone done the 1 million euro bank transfer option?

Hello all. I’m looking at a GV for my wife and myself. Has anyone done the 1 million euro transfer instead of the real estate or VC fund route? Any information on that experience would be most welcome
Thanks in advance!

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One thing to look out for is the bank you choose to open an account with, as each bank may have different requirements regarding the investments you can make once the funds have been deposited.


I am also very curious about this 1 mil Euro transfer option.
According to statistic, many GV applicants have selected this option, but there is almost no discussion/talk about it.
I have several questions regarding this option and it would be highly appreciated if someone can give the answers:

  • One mil Euro can be transferred to multiple bank accounts ? or it is restricted to only one account ?
  • After transfering 1 mil Euro, obtaining the bank statement, applying for GV, and finally having the GV card in hand. Am I allowed to use 1 mil to do whatever I want ? For example, I would take 1 mil (or just 100k-300k) to purchase some properties which are not dedicated to the golden visa, or I would use 1 Mil to open a business in Portugal. Then after 2 years for the initial card, I will have to renew my GV, and I will have to show bank statement with 1 Mil. This 1 Mil can be taken from the profit of my business or from the properties re-sell. In case my business does not bring profit, then I will transfer some more money from oversea to the bank account in Portugal just to top up the amount until it reaches 1Mil, then apply for the renewal GV. All these are permitted ?

Hope that someone that has experienced with this can give some answers.
Thanks in advance !

I think there is a reason for the lack of discussion, no broker or real estate agent makes money in this process.

I’m not sure that’s correct. Having spoken with an attorney the fees aren’t that different.
You do need to have the 1M Euro all in one bank account for the full five years. Another option is to establish your own company and put the 1M Euro in that. THen you can invest in other assets out of that entity. Not sure the tax implications.

Another point that I hadn’t known is that if you plan on living in Portugal that the D7 is a much cheaper and easier path forward. GV is good if you want to only have to come a short time each year

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Yeah, I think so too. But it is a bit too extreme when there is nothing at all about this option !


I understand your point. If it is permitted to make investment via my own company, then it is still excellent though. I would not mind to open a company which I am a sole owner.

My plan is to obtain Portuguese citizenship (100% sure) and to live for entire 05 years (not sure 100% ) in Portugal.

Thanks !

Hi Michael, check out the link below has potential for equity participation with
good ROI

regards peter

Thanks! Appreciate it

Hi, I’m looking at this too and all the details are explained on the Immigration Authority website. Here’s a link to the document that provides details of what you can invest in and the obligations of the bank you select. https://imigrante.sef.pt/wp-content/uploads/ARI_alinea1_Pedido_EN.pdf

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Hi Michael,

Yes we had a client doing that. The only issue is that if you are a US citizen you can’t open the acconut in any bank as not all are FATCA compliant.