Thanks to Sam for taking the time to explain these Golden Visas to us. Thank you for watching this video. Join Sam's free webinar on May 6th: holbornassets.zoom.us/webinar/register/7317134522926/WN_L7kxMEdaRWGlsYeiFqoCqQ
My wife and I were getting ready to take the plunge on Portugal until the NHR blew up and the attitude towards foreign property investors turned chilly. Now we are looking closely at Malta's Permanent Residency program. As US retirees, our pensions and Social Security are not taxed in Malta thanks to the US/Malta tax treaty. English is an official language. We'd have a 5kEuro minimum tax obligation to Malta that we can take as a credit on our US taxes so taxes will be pretty much a wash. If we stay long enough our tax savings will offset the initial payout in fees (which are less if you purchase property in lieu of renting). Malta is a great base for travel - our original motivation for relocating to Europe - it has awesome weather, a booming economy and wonderful people. If only they'd drive on the correct side of the road....
Colleagues and friends of mine just started the process for a Portugal Cultural Golden Visa (donation) yesterday with a law firm in Lisbon. I’m keeping an eye on their experience and we might follow their path.
Very interesting! Keep us posted on that, Gerald. I (Josh) just spoke to someone that did the GV investment fund. That podcast episode should be out in a few weeks. - Josh & Kalie
@@ExpatsEverywhere They were first considering $500K investment route but simply couldn’t come up with the money. Tough call on donating $250K for CGV instead, but that was doable and they are highly motivated to have a Plan B asap. We are in similar position; don’t have enough liquidity at the moment, but might be able to get an assist from father-in-law.
Good idea, we'll try to sort that out. We've been talking to John from Green Ocean Global about it from a financial planning perspective as he's doing his homework on the topic. - Josh
@@ExpatsEverywhere brilliant thank you . Looking to retire to portugal hopefully , if my pension won’t cover it then it may have to be Belize due to the lack of financial restrictions
Spanish lawyers in the field predict that it is just a matter of time before Spain's golden visa is put to rest, and that it is going to happen sooner than one thinks. Greece's golden doesn't lead to Greek citizenship as Greece rarely naturalize someone who is not ethnically Greek, again this is from an experienced Greek lawyer who works for a reputable law firm in Athens .
Great informative video, but I was a bit confused about the Malta Residency description. In general, what is the difference between permanent residency or that of trying to gain citizenship? What freedoms or rights does one have over the other? Does it affect ability to travel to other countries, durations of travel, ability to work in the residing country, tax implications - especially with foreign earned incomes. Apologies for all these questions, but if there is some other video that explains this or website to read, that would be very helpful.
Helpful video! I would love to create a chart showing the benefits of a Golden Visa vs establishing residency (via passive income or digital nomad visas). Seems like the biggest differences are time required in country and ability the to work (in the country of residence)?
Certainly the time in country is a thing, Kathy. It seems like the people we know that have done it have all been motivated by being able to do it now while they can't make the move permanently yet and still have their years counted vs taking early retirement and moving straightaway. So these people are planning to retire in 3-10 years and they're just going ahead and banking the necessary years (at least in Portugal's case). - Josh
The only option seems to be St Lucia and Malta. Spain don't want foreigners, Ive heard some stuff about Portugal and Greece regarding foreigner experience.
Thank you. Thanks for the love. It seems we did. It wasn't on the list that we used but it does appear to be on other web sources. Thank you for bring that to our attention. What's very unclear is what would happen to that US passport in the eyes of the Spanish because they do allow dual citizenship with Puerto Rico but not the U.S. - Josh
@@ExpatsEverywhere Many people have Dual, Spain and US(Puerto Ricans), Ricky Martin is known to have both, well there must be an exception due to the history, Spanish American War(1898), between US and Spain, and the people of PR and there cultural ties to Spain, PR and Cuba were the first to be granted Autonomous Regions of Spain in 1897
@@jPuma817 Dual national between US and Spain is something that Spain objects with in their immigration law so officially it's only given my special request and not rule.The US is fine with dual nationals. - Josh
Hello, thanks for the video, very informative. got a Question. i Got a restaurant in Portugal with 15+ employees. Where would you recommend i go to sell to the international market? Maybe i could help someone get a golden visa, and me a retirement 🥰😀
That's a great idea. We're not sure though. We haven't heard of a marketplace for businesses however, you're definitely on the right track! Possibly reach out to Sam since that's his industry. Good luck and keep us posted! - Josh & Kalie
These companies charge an arm and a leg to process your application. I would be interested to see a video giving options on different companies their fees and their reputation.
@@ExpatsEverywhere I have contacted Astons and Holborn, their fees are exorbitant. It would be interesting to find local and reputable companies instead of these international firms. Even some local companies charge very high hourly rates similar to US and Canada for lawyer fees for example especially when they smell a foreigner…
Well, they always smell a foreigner with money in this case because a European doesn't need to go this route, you know? We'll keep searching. Have you checked with Nomad Capitalist's rates? - Josh & Kalie
If you are required to only spend one weekend a month in Portugal, does that mean you would not be considered a tax resident and don’t have to file taxes or would have have to file taxes because you would have money invested in a Portuguese business?
They said they have the intention to review it and potentially get rid of it to help fight the affordable housing crisis but around .25% of the purchases during the period when the GV has existed were real estate purchases for the GV. Nothing has been made official in Spain. Many headlines written about it were misleading. It's still possible as of the publish date of this video. - Josh
As of right now, yes, there's still time. Nothing has been made official. May 6th Sam is doing a webinar about it and he gave us a link to share. - Josh & Kalie
There are some great reasons to go the Portugal route via an investment fund, but it depends on your risk appetite. Spain is more difficult from a tax perspective (should you want to naturalize, also the path to citizenship is not a quick). Taxes and time to EU citizenship will factor into the equation, along with your appetite for investment. 🙂
why don't you guys use Portuguese D7 visa, Latvia 50k Euros GV, Estonia 65k Euros GV/TRC or Slovenia's 75k Euros. They all are worth it and truly cheap. why to waste ur money on these GVS and TRCs
Not sure what you mean, Malik. This is an informational video. We (Josh & Kalie) did use the D7 visa. We also have a video coming out soon where we talk about the Latvian visa. - Josh & Kalie
