Legal fees for GV, impacted by splitting fund investment?

HI Larry -

Since you are further along in the process, would you be willing to share the name of your PT attorney plus any other support professio)als (if any) such as US or PT accountants or advisors you felt you needed to put it all together?
I’d love to know the legal fees as well, since I’ve gotten quotes (for 2 of us) that have ranged from $7000 to $20000 for the same exact service and most want 80% payment in advance for the services that will take place over 6 years (what if they go out of business or die in the interim)?
Also, since you split the funds, would you mind sharing which funds and if your split was 50/50 or other? Did you pay more in legal fees b/c of the 2 funds instead of 1?

Thank you!

Hi Cynthia,

Do you mind sharing the range of services that those lawyers quote you on?
$20k seems a lot
Thanks

Lawyer fees do vary widely. Up the thread there are discussions about this. There are variable fees for the initial consult, how much they charge for successive applications and how much they charge to be the tax representative annually. You have to ask them all these and compare apples to apples. So, when you quote a certain figure, I’m not sure what that includes and if it is an even comparison or not. I will say I have never seen 80% up front and would never pay that. I looked at maybe 10 lawyers and more “full service” agents before deciding. And no, we did not pay more in legal fees though there was a very slight difference because of bank transfer fees etc using 2 funds.

Thanks!
Yes, these were apples to apples from start to finish including the tax representation.
Are you willing to share the name of the attorney or agency you selected?

I spoke to numerous attorneys and none of them requested 80% payment up front. Pretty much all of them requested 50% up front and that 50% was only of their GV application fee, not including renewal and/or citizenship fees. Some attorneys requested the remaining 50% upon GV application submission while some allowed it to be paid when the application was pre-approved or even when the residence card was received. GV application fees averaged 5,500 EUR, renewal fees averaged 2,500 EUR and citizenship around 3,000 EUR. Tax representation was sometimes included or up to 500 EUR/year. I feel that most attorneys overcharge for GV services but are successful because their fees are still quite small relative to the investment amount.

I chose an attorney that specializes in citizenships, not golden visas and her fees reflect that and are quite a bit less than the others. I’m still in early stages of setting up a NIF and bank account right now but I’d happily recommend her, especially if you have questions regarding citizenship and pros/cons of including family on the GV. Feel free to PM me.

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The last 5 posts are off topic. Hopefully the mods can move these.

I think you have correctly summarized the situation. If the lawyers charged only hourly for services, the fees would be very low because there is very little time involved in a GV application. The fees are inflated because the lawyers perceive the investors have money.

My understanding is that it is relatively easy to switch lawyers during the process. For example, after 5 years you can find another attorney that specializes in citizenship and is probably much cheaper than a GV attorney. There are some GV investors who do it all themselves so it is not particularly difficult, but given the amount of money at stake I understand why people dont want to risk making a small mistake that might prejudice their application.

My preference is probably as I indicated. To have the GV lawyer do the GV app, and then find a pure immigration attorney to handle the citizenship application. My lawyer did not quote me a price for the citizenship app, but judging by their comments I think they are expecting to charge a lot of money for what is probably a ministerial function. I am looking for a good immigration lawyer that could help with that when the time comes.

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Hi @cynthiaweissasher, I agree with @mmtravelguy that this discussion is better served by its own thread, so I moved it. Feel free to change the title if you feel I didn’t accurately summarize what you’re asking :slight_smile:

Sorry I didn’t see this. The ones I have spoken with so far all want to engage me in a “package” that includes the legal work for reviewing paperwork and making sure my investments are indeed GV compliant (not a service I feel I need but one they insist on), opening the bank account and securing our tax number, the initial app (primary and spouse, no children), the 2 and 4 year renewals, and the final paperwork for citizenship OR permanent residency whichever I chose. They say there is an accounting function in this which is included was well, and accompanying us to the biometrics appointment.
Their fees are exclusive of course of the fees that go to SEF and bank, etc.

Yes, that’s I think the common experience. One I’ve spoken to is per-hour-only. The rest are packages. I think most people want packages, since that’s just easiest to price and compare.

Verifying your investment is GV-compliant is probably a holdover from the property purchase days; if you’re buying a fund then the fund is sort of self-verifying or easily verified, but a property could potentially not qualify (I guess).

Accompaniment for the interview I think everyone agrees is necessary and appropriate. You want to be coached and to have someone translate and smooth that process so you don’t have to go back.

Cynthia,
did you misunderstood? i don’t think any lawyer woud ask for the full 6 years of service fees in advance.
that is crazy and if so i woud run away from that.
i think it is more normal that they woud ask for the first visa 2 year application fees in advance.