Their fees are published on their website.
Any body knows how to make the SEF payment from Bison Bank online banking ?
Is it filling the āpayments to the stateā page by just entering reference number, NIF, amount and description ?
Thanks
I donāt know if you are a customer of Bison yet or not. Here is the notification I received back in April:
07/04/2021 11:30:10
New Features
It is now available new payment features on the digital banking channels of Bison Bank. You can now execute payments to the Portuguese State, as well as payments of services by using a Portuguese MULTIBANCO reference.
Take advantage of these new features on the Bison Bankās digital banking channels. In case you have any doubts, please contact your account manager.
Thanks. I see that option now and I tried to make a payment.
I am hitting another issue where the one time codes from the bank are all showing up as blank text messages. It used to work fine earlier though.
Let me know if anyone has seen this and how it was resolved.
Thank you. Will do.
Any idea how long it takes for the SEF analysis payment to be posted once a payment is made ? My lawyer is waiting because it would not let the dependentās applications to be submitted before the principal applicantās payment gets posted.
Back in April, it was 24 hours for us. Our lawyer was able to submit a family reunification application the next day.
Does anyone have any experience with Banco Atlantico? Iāve had a few lawyers tell me they are FATCA compliant (for purposes of holding PUs, not just retail), and are significantly larger than Bison or BIG.
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Indeed, Iāve heard from Bordr who are opening Banco Atlantico remotely and they believe these are fine for FATCA/US-Residents.
They seem a bit more expensive then Bison though
Custodian Fee: 0.1% (paid quarterly), SAME
ARI Statement: 250 (vs 70 @ Bison)
Annual Account Fee: 120 (paid monthly vs 0 @ Bison if $100k assets)
They do give you credit and debit card so perhaps nicer if youāre living there but I donāt plan to live there in first 10 years.
I guess the influx of Golden Visa applications from Americans this year has made them realize they are missing out on a lot of custodian fees to Bison/BiG and given they already were FATCA compliant for deposit accounts perhaps it wasnāt a big step up to do this for PUās.
Very helpful info on Atlantico - thanks. Just to clarify, my understanding is that the quarterly custody fee at Bison is actually 0.025% plus 23% VAT.
Yeah so Bisonās 0.025% fee, paid four quarters is 0.1% over the year, same as Banco Altantico. Atlantico was also specified as paid quarterly (so 0.025%/quarter)
Iām wondering how youāre aware Millennium is not FATCA compliant? I found this on their website suggesting they are:
It is for retail bankng, not as brokerage (holding fund participating units).
I can confirm Millennium accepts US customers for retail but not for investments - this is true of many PT banks and it is a distinction that tripped me up earlier this year
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I donāt think this is a sincere question so Iām going to pass. Good luck with Millennium.
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Which qu was not sincere? Confusedā¦
About whether Millennium is FATCA compliant for American citizens investing in GV funds via depository accounts. It factually isnāt, but someone else has a different opinion. If it works for them, more power to them.
OK. FWIW I interpreted it as a genuine question. I for one wasnāt aware until earlier this year that banks could be FATCA compliant for some activities and not others. Itās a nuance that US taxpayers looking at GV funds should definitely be aware of.
It may be sincere, though the phrasing seems more challenging than investigating. But Iāve had dozens of people PM me asking for follow up information over the last year, then turn around and make snotty comments in reply because they donāt believe me[1]. Iām not being paid to help people on this forum and people griefing me doesnāt add to my sense of satisfaction.
[1] In particular, Iāve had about 50 people follow up to ask for my GV lawyerās contact info. I provide that info. About 20% look at the web site and say OH MY THAT IS NOT A GOLDEN VISA LAW FIRM IT IS AN INVESTMENT LAW FIRM YOU ARE WRONG YOU GAVE ME THE WRONG INFORMATION YOU DO NOT KNOW WHAT YOU ARE TALKING ABOUT YOU FOOL I HOPE YOU BURN YOUR TONGUE ON HOT PIZZA YOU CHARLATAN. ā¦ Umm OK.
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