Will you apply Portugal Golden Visa knowing what you know today?

kramanat
The fact that we need a massive database and now this extra fields for lawsuits filed as part of a ‘process’ - absurd :slight_smile:

Defo should advertise this at seminars like the upcoming Portuguese Chamber of Commerce in the UK GV seminar on June 12th!

So new applicants can go into this with eyes wide open :scream:

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To paraphrase an ancient Chinese saying:

Defraud one person, become a prisoner.
Defraud everyone, become a king.

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hi guys,
i applied december 2021 and was approved 5 months ago but still no bio appointment :confused:
now my wife can apply but I’m not sure if its worth it? what do u think?

What is your goal?

If you want to move to PT ASAP, there are better ways than PGV – D7, etc.

If you want a second citizenship ASAP, there are definitely faster and less risky / uncertain options – Caribbean, Turkey, etc.

If you just want a backup residence in a country outside your home country without having to move there immediately and without a path to citizenship, there many programs in various other countries that will give you a faster path to legal investment residency with clean paperwork.

If you are fixated on EU citizenship without needing to move there at any point until obtaining the citizenship and your net worth is under ~US$10MM and you’re unwilling to make a bet on a country that’s currently non-EU joining the EU in the future and you’re willing to put up with 9-12 years of uncertainty before obtaining the citizenship, then PGV may still be your “best” bet.

For this purpose, there simply aren’t good options anymore. Malta is too expensive for us regular folk. Cyprus now says they will naturalize faster, but this is difficult to believe due to its track record, and this comes with a strict physical presence requirement. Greece is seen as generally not naturalizing GVers. Spain’s official timeline to naturalization is longer and it’s no better than PT on process / paperwork dysfunction. Hungary’s program is new, but it looks like naturalization will take about as long as PT (if at all) and may require physical presence.

You’re tying up 500k EUR for 9 to 12 years in exchange for a, give or take, 50% (?) shot at EU citizenship within the same time period. Is that worth it? What really matters to you that you can do with EU citizenship, but can’t do with a combination of your current citizenship plus either Caribbean or Turkish?

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Excellent post from @Hippopotamousse
I believe folks get so fixated on the ‘what/how’ to do smth (in this case obtaining GV) that they lose sight of ‘why’ they are doing it.
And if they come back to ‘why’ there are plenty of options to explore…

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This line is true except for born nationals of Spain’s former colonies (e.g. Mexico, Colombia, even the Philippines which is not in Latin America, Puerto Rico which is not a sovereign country but a territory of the US, and Brazil a former Portuguese colony but still qualify due to their historic ties, etc.)

People from Ibero-American countries can apply for Spanish citizenship after just 2 years of physical residence in Spain which makes the their timeline to achieving an EU passport way quicker than Portugal’s. I did a comparison of timelines below (all estimates):

Portugal GV
Application for GV - 36 months / 3 years
GV Residency for citizenship - 60 months / 5 years
Application for citizenship - 36 months / 3 years
TOTAL: 132 months or 11 years

Spain GV for nationals of Ibero-American countries
Application for GV - 12 months / 1 year
GV Residency for citizenship - 24 months / 2 years
Application for citizenship - 12 months / 1 year
TOTAL: 48 months / 4 years

The main drawback of Spain GV though is that in order to qualify for citizenship, you have to reside physically in Spain for at least two years unlike Portugal’s GV program wherein you only have to visit the country 7 days per year for 5 years.

Also, Spain’s GV program via Real Estate investment is being phased out by the Spanish Government, although no date has been set yet. I could imagine a rush of investments and applications at the moment.

Even after closure of ESP GV, if one has EUR 500k to invest in PRT GV program and is from one of those former Spanish colonies, one could just apply for a Spanish Non-Lucrative Visa (NLV), pretty much a retirement visa and use the said funds as proof of financial resources. (More than sufficient to live in Spain for 2 years). The main drawback is one cannot do paid work, although doing volunteer work and studying are possible. After 2 years of physical residence in Spain, for those of former Spanish colonies, they can then apply for Spanish citizenship.

Just sharing for current and future forum readers who might be or have ancestry from Ibero-American countries and considering other quicker options to get EU residency and citizenship.

Personally, I find myself coming back to this question repeatedly since PGV has gone off the rails: Why would I continue to ride this roller coaster for another 6-8 years? What do I really want, and isn’t there a better (lower-cost, more certain, less infuriating) way to obtain it?

If I’m going to continue on this path of obsessively checking this forum for PGV news every week for the next 6-8 years and most of the time not liking what I read, there had better be (1) a damn good reason; and (2) no better alternative to get what I want.

Yes, good point. My post was from the perspective of those with no ethnic- or descent-based advantage.

Thanks for analising.
I think it is a bit ambitious to have estimated timeline 1 year for Spanish GV and 1 year for Spanish citizenship. I would put 2 years for each step.
In addition to this, if a latin american needs only 2 years for being able to apply citizenship in Spain, he could just sign up for a master or MBA 2 years. It would be also zero fee involved, just go to Spain and take MBA for 2 years and then apply for citizenship. While waiting for citizenship outcome, he could find part time jobs in restaurants.

I indeed have read majorly positive reviews of NLV from NLV holders themselves. In terms of initial processing time & renewals, it’s easy breezy. For citizens coming from previous Spanish colonies, NLV path is an absolute fairytale. I also often hear people say although bureaucracy and admin delays are common in Spain, it’s almost nothing compared to Portugal…