US citizens: Why do you want a Portuguese GV?

Hello everyone,

I’ve been reading a lot about Portugal’s GV program and am interested in hearing why those you who are US citizens opted to obtain the GV.

Was it:

  • Having another option to live?
  • Legacy for family?
  • Tax purposes?
  • Wanting to live in Portugal and a desire to invest in the country?

I would love to hear your thoughts as I’m contemplating meeting the 2021 deadline.

Thanks for starting this thread. I’m interested for future options, esp. as the political situation in the US remains unstable. I also am just open to different life choices and possibly greater ease in later life both in Portugal and the EU.

Thanks for your thoughts! Having a second country for refuge is a consideration!

I bet Offred wished she had a plan B. That’s why.

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That’s a great topic, @Viet! I just noticed your old thread pop up. Disappointed that there aren’t more replies!

I have just deleted a very long winded post I had drafted.

TLDR: I want to become a citizen of a EU country. It would reduce the amount of savings needed to retire and allow me to live out my dreams of moving abroad. Just taking into account health care costs (assuming the worst case), I value permanent residency in Portugal at about $300k ($10k/yr out-of-pocket max, plus premiums, with 4% safe withdrawal rate in the US healthcare system vs a much smaller amount in Portugal).

Not to mention access to higher quality of life and cultural diversity in Europe.

All this while still being able to continue working a cushy job in the US that pays several multiples what I would earn abroad. I am not quite ready to retire and move permanently abroad. Otherwise, the D7 visa would be a better deal.

There is another, earlier thread where more people answered the same question.

https://community.nomadgate.com/t/so-do-i-really-want-or-need-this-whole-golden-visa-thing-in-the-first-place/28338/13

The search function works surprisingly well on this forum! Used the words: “why do you want”.

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I’m an US Resident, not a US-Citizen, though I might get US citizenship through residency in future.
(Note: US-Residents are treated like US-Citizens for international banks/finance products).

Admittedly my Birth passport and a US passport give you most of the benefits people seek (A stable 1st world country, strong economy, visa-free access to EU, North America, 100+ countries)

I view additional passports (and Portugal in particular) as:

  • Plan B (Not expecting America to collapse this decade, but in 50 years time? Who knows)
  • EU Passport gives a lot of work permit access (I can work anywhere in Europe, even outside EU, e.g. my understanding is EU Citizens can travel/work in Switzerland too).
  • Legacy for Spouse/Children (Give them a 3rd passport - I’ll pass down my citizenship, my American Spouse will pass down US citizenship, so PT gives them a 3rd and most importantly first EU citizenship)
  • Portugal actually looks like one of the nicer places in Europe to retire/travel/invest/etc.
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