Thank you very much again. You haven very nice and cooperative, I went through your other responses which are very much information and helpful.
Please let me know next week, I will be disparately waiting for your response. Actually, this article (if a child is enrolled in school for three years in Portugal, he/she will be eligible to apply for Portuguese nationality, there was nothing mentioned regarding the Portuguese language, the school was mentioned) few months back when I googled the eligibility for the Portuguese nationality but now I cannot find that article.
I’m still waiting on issuance on my card, and it’s been since November 2018 since I bought my apartment, so just a heads up, things can take time though part of that is tied to Covid.
I did have question for all my fellow nomads. My attorney in Portugal is offering to manage three yearly filings at these rates:
Real Estate Tax (‘IMI’) correspondence: 200€
Personal Income Tax Declaration (‘IRS’): 200€
VAT obligations (‘IVA’) >> 4 VAT declarations per year: 300€
I find the rates a big high since I pay less for someone to file my far more complicated US taxes. I wanted to get some feedback and any recommendations on these rates and if I can even do this easily myself. Any help is appreciated.
So I thought I would provide some timelines from my experience and hope this helps you. I do want to remind you that Covid-19 played a part in delays, so I assume my case is worst case scenario. I’ll also put the steps in the guide in parentheses so it links back to original article and process.
1.) November 18, 2018 - Apartment is purchased (Step 2)
2.) December 6, 2018 - Submitted the application online (Step 3-7)
3.) February 13, 2019 - My application is approved (Step 8)
4.) April 8, 2019 - Wife’s application is approved (Step 8)
5.) May 27, 2019 - Biometric Appointments done (Steps 9-10)
6.) May 11, 2020 - Final Approval (Step 11)
7.) June 3, 2020 - Ministry of Coin prints my cards and sends to lawyers (Step 11.5)
8.) Soon…In next week, we get our cards.
Hope this lays it out clearly. I wish I had this detailed explanation when I applied so I didn’t sit on my hands and just wait. Just know my timeline is complicated by:
applying for my wife and I at somewhat separate times
scheduling appointment at time when I could make it to Portugal (added a month)
Covid which probably delayed my final approval and actual printing of my card (likely by 2 months)
Does anyone have the rules/regulations that apply to the EUR250,000 investment option? Most importantly, do you get the money back after you’ve obtained permanent residency or citizenship? Txs
Many thanks for sharing your infos. It is a bit strange because date of issuance on card is March, which is even before the date that you were received the Final Approve. So if your card were actually valid since March, not sure how/why/what make it so long to deliver the card.
Actually I have applied my GV application, I think I will encounter similar situation like you or even worse because everything in Portugal seems to take forever…
Hey. Apologies, but March 11th was final approval not May 11th. Seems I mistyped, so that should clear up that misunderstanding.
The reason there was delay from March to June was because the Ministry of Coin had to print the cards and something that normally takes 2 weeks took three months due to limited public service openings during Covid.
Hi Zayd_Khoury ! How long does your card last ? It is valid within 2 year ? Or still 1 year ? The reason I am asking is that there was some new rules regarding the GV, but not sure when they actually apply these new rules.
Hi Live2learn, you are talking about how the golden visa validities are shifting from
1 year → 2 year → 2 year
to
2 year → 3 year
Sadly, we got a 1 year → 2 year → 2 year card, so we will be back for next year March. My attorneys indicated that some of newer cards that are approved may have the 2 year → 3 year validities. Hope you get that one as it makes travel schedule and costs lower.
Hi, Luis. I’m currently looking at various golden visa options (ideally the EUR 280K property option but possibly the 350K property or mutual fund), and hoping to start the process within the next 12 months. I appreciate all the good information you’re providing here and would welcome your thoughts on the following as I’ve seen some conflicting information. Is it true that a child who is dependent at the time of the initial application also must meet the same requirements (under 25, in school, financially dependent) for each renewal of the visa as well as the application for permanent residency/citizenship five years later? It’s relevant to my situation because my daughter turns 20 in a few months but will likely be in school until around the age of 25 1/2. So if she must meet all the same criteria for the eventual PR application there’s virtually no chance this will be an option for her, and it’s a bit less attractive to me as well. (Even in that case it’s something I’ll still likely do with my wife since we’re interested in having EU passports and eventually retiring in Europe, but in that case the timing may be pushed out a little to give us more flexibility on which investment option we choose.)
Steve, the honest answer is I am not sure, would need to check with a lawyer, but my understanding is that it is the first application, as I had a client who bought elsewhere and he needed to get the Golden Visa done to ensure his daughter, about to turn 25, qualified. So I would guess only the first application but perhaps one of the lawyers on this forum could clarify as I am also intrigued to know.
As you will know, the €280K and €350K options are in very different areas of the country. Be in touch if you need help especially on the €350K option, we had a few very good lower threshold GV in Lisbon, unusually so as they tend to be in short supply.
Niels, are you confident that you will be able to recover your principal of EUR1.25M? It is a venture capital fund and there’s probably a fair amount of risk. What are the terms & conditions regarding the recovery of your investment. Thanks.