Get personalized advice about tax, asset protection, offshore banking, residency, and citizenships:
You can visit our websites for more information about us: &
We’ve talked about Portuguese golden visas many times on this channel. Many people are interested in this residency by investment option, which can lead to European citizenship after 5 years.
In order to qualify, an investment of €500,000 is required in real estate in Portugal. The property, either residential or commercial, can be rented for income. Any number of properties can combine to make up the €500,000 minimum investment.
A lower investment amount of €350,000 is possible for properties constructed more than 30 years ago and in need of refurbishment. There is also a Portugal Golden Visa Fund option currently €350,000 rising to €500,000 on 1 January 2022.
But what about fees that come on top of the investment? These can be quite substantial actually.
Government fees per family member for application of the Portugal golden visa are €5,336.40. Renewal fees every two years apply at 50% of those rates. In addition, there is a processing fee on the application and renewal of € 533.90 for the main applicant plus € 83.30 per family member. In addition, applicants need to plan for lawyers’ fees, typically €5,000 per family.
Buying real estate in Portugal attracts certain taxes, stamp duty, and fees. We recommend investors budget for around 9%-10% in total, the main element being Property Transfer Tax (IMT).
So as you can see, a Portuguese golden visa doesn’t come cheap. In order to get a good deal on the investments, you’ll need to act fast, before prices are increased by the end of the year.
Who are we and what do we do?
We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.
We have lots of interesting articles on different topics, we have relevant information up to date.
Author: Michael Rosmer
Feel free to join our community!
Don’t forget to subscribe to our channel