i am considering to kickoff the process of PGV. i have few questions:
i have met number of company to help in the process including global citizenship solutions and MFG consulting, not sure is it better to go through Law firm or only normal agency?
also i need to know how much i am expected to pay for the agency/firm above the 500K excluding government fees for family of 4? for only the first two years
will i be able to know if my application is accepted prior to committing any fees for the investment funds and agency?
Here are my 2¢ based on going through this process and still playing the waiting game. I started the research 2020 and made the application late 2021.
Identify your requirements and investment options
Investment option drives the decision around lawfirm
Initial card issue fees are currently running around 6k€ per person
Find a lawfirm or agency that has trigger pricing vs upfront payment - for example, they get paid on various acceptance steps like application approved, biometrics, final approval, residency card receipt, etc.
There is no way to know before committing to investment funds but a good lawyer or agency should do their due diligence in guiding you
You only need a law firm, not an agency. I chose a fund that offered “concierge” service and connected me to lawyers, bankers, and followed my five month journey, assisting as needed when hitches came up. I found that reassuring.
Contact a few law firms and get their fee structure. As mentioned, make sure fees are triggered by events because things move verrrry slowly and nothing is guaranteed.
No, you have to make the investment and pay the lawyer, banking fees, possible subscription fee, etc before you even file your application. Be prepared to shell out €5k+ and invest €500k with no guarantee of acceptance or visa. Laws are changing, costs could too. Pay attention to the news.
Having just submitted my application, I honestly can’t recommend PGV to anyone who doesn’t have a substantial financial cushion and can afford to leave their investment 7-10 years (or lose it), so if you’re concerned at all about extra costs please think long and hard about jumping in.
I started in 2021. Have my and my wife’s residency cards now. We used Edge International Lawyers out of Lisbon. They do a lot of GVs. Not the least wxpensive, but transparent and get the job done. They are a larger firm so have good knowledge and influence. They charge as you go and lay ot all out at the beginning so you understand the expectations. Any in person transactions required by you to go through the process the are jand and hand witj you. Yoi will hear a lot of nay sayers. Everyone’s expectations and requirements are different. My investment is 8 years, but I am not retired yet. Plus my investment through Iberis Capital in one of their funds has returned 34% in the first 3 years. Some are happy to break even as the cost of the Visa.
Agree 100%. I am in the same boat having submitted earlier this summer.
Portugal is my short term plan B and my long term plan A if things go as expected.
In fact, I would even suggest that if you couldn’t afford to lose 100% and have enough to start this whole operation up with another country you should think twice. Maybe consider a cheaper route with higher residency requirements if you can.
Edge is okay, I’m using them too. Very aggressive on the fees even when you don’t need said service. If money is no concern then they are not a bad option but wouldn’t outright recommend them from my own experience.