After years of rumors and speculation, on January 1, 2022 Portugal’s Golden Visa program changed drastically.
This is a companion discussion topic for the original entry at https://nomadgate.com/2022-portugal-golden-visa-rule-changes/
This is a companion discussion topic for the original entry at https://nomadgate.com/2022-portugal-golden-visa-rule-changes/
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Hello. This is DaveB, Riverside, Calif., considering move to Portugal with wife; both retired. Thanks for this information. I’m curious about the “250K donate to the arts” option. Are these pathways actually being approved by the govt? Are there recommended specific options for donations to art/culture? Anybody here done so and found it great (or not so good; if so, why?) It “seems like” the cleanest, cheapest, least-hassle option available. All things considered, I’d rather rent a nice apartment, not have to worry about real estate investments or viability of investment funds, and I figure the 250K might be a nice gesture and an investment in sanity and safety. Anybody like me? Am I missing anything? Thanks for any feedback! Best, – db
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I think that’s one of the options that is fairly unused around here, since it’s a bit riskier investment wise, and lack of established pathways
If you try it please report back!
Thanks, will do. – db
While it is not a commonly discussed avenue for applicants, I would not agree that it is risky. If you are willing to invest the money I am sure the government will gladly take it. The reason it isn’t wisely used is that most people would prefer to invest and get their money back with gains. For this route, the list of available investment options does read more like a list of charitable endeavors so I think there is a sense, likely correct, that you won’t get much money back in the end. For example, how do you invest in “reconstruction or refurbishment of the national heritage” and expect a large ROI? That being said, I don’t know what you mean by “lack of established pathways” . The regulations provide a clear list of investment areas. If you mean no one has done it, then that might be true but the list is so large and vague that I think it would be easy to find something that would qualify.
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I guess I’m wondering why you’re looking at a GV and not a D7 visa since the latter is specifically for retirees with passive incone who want to live in Portugal? Most of us going GV route because still working and unable to relocate right now. My understanding is D7 is a much easier road than GV.
For me it’s the wanting the option to apply for citizenship in 5 years while only being required to be in the country for 7 nights per year (14 nights every two years), because I cannot fully commit to being over there right now. Furthermore, I think I’d want to be in Spain more permanently, and an EU passport would allow me that (in a shorter time with less required money than other euro golden visas, while still being a great country to stay in itself).
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Yeah I don’t want to live in Portugal full time so no d7. Several months at a time sounds fine just not quite 6 months for many years, bit too much for me
Plus guaranteed healthcare in case things go really south for me and my wife somehow, and a safe harbor in a sane country if things go poorly in the usa
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Yes, also looking at D7. Still in early stages of research. I guess so far there’s two ways I’m looking at this:
D7: Advantage: don’t need a hefty investment. “Downside”: have to spend at least 6 months a year in Portugal, but!, that’s sorta the point: to get myself into a potentially safer place if necessary. I’d have no problem living in Portugal for at least six months a year and making a couple/three or so month-long trips to other foreign countries each year as vacations from Portugal.
Golden Visa: Advantage: little time commitment to Portugal. Downside: hefty investments and mind-bending paperwork/lawyers/fees. Plus the potential risks of investing in real estate or funds.
Re your possible use of an art investment. When I went thru the various options with my attorney May 2021, she said that option was new and none of the attorneys had heard of anyone using it. My understanding is the attorneys rely on the entity in which you make the investment to provide the documentation for the visa. Attorneys themselves dont seem to want to spend time looking for those things.
Just my two-pence: having registered on this forum you won’t necessarily need a lawyer (= no legal fees).
Real estate is, in my opinion, the least risky investment of all. Of course, you’d need to be diligent and do it right, just like everything else. But at least that way you’ll keep your hard-earned cash with you, not ‘donate’ it.
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Yes, there doesn’t appear to be much activity re the arts/culture pathway. However, I did see something online where the EDGE international law firm in Lisbon touts itself as the firm effectuating the first such arts/culture path for their client. Google the EDGE firm; they are online. (I was not, however, able to find any details on exactly what the donation involved.)
Meanwhile, more and more as I read I’m seeing so many sorts of (apparent) trade-off issues one needs to consider when looking at D7 vs. Golden Visa: tax status implications/issues-one-way-or-the-other; time commitment issues obviously; health insurance pros-cons-either-way; specific residency regions/cities/towns to consider. And, so many resources to wade through just to try to begin to understand all the implications. As soon as I have two questions I immediately have 20. The head spins.
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Yes, the advantage to real estate is that you do “have” something. Very true. The forum is excellent in providing a lot of information and answers. Me? I might still use a lawyer or relocation service, possibly. I think the good ones can streamline, and, depending upon the political climate in one’s home country, a person might definitely want some streamlining.
Sure, hiring a good lawyer is a better option than going solo, especially if you choose the real estate path as you would definitely need legal help in verifying the property (‘conveyancing service’).
Plenty of recommendations on this forum for good lawyers.
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Hell, If I had to do it again I may have hired Tommy Gunn to be my representative…
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I really wonder how many GV applicants really even considered all the options or even knew about them, or really understood all of the gotchas. Probably a lot.
Hi everyone,
I am Richard and study at Massey university, in New Zealand. I am around retirement age, 60. I would like to move through GV. But l don’t how to check the interior places. Could someone can help?
Richard
Do you mean how to find out which areas count as interior?
Maybe this search could help:
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Thank you very much. But this map is not clear to the name of cities.
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