Petrus became the main applicant and included Martha in his application. De facto, Hendrik sponsored his parents, but de jure, Petrus was the investor.
Preliminary Due Diligence. Our Compliance AML officer ran an internal Due Diligence check on Petrus to make sure he was eligible for the Portuguese program. We conducted the check on Hendrik as a sponsor, too. No red flags were found in both cases, so Petrus signed a Service Agreement with Immigrant Invest.
Taxpayer numbers in Portugal, or NIFs, for Petrus and Martha were obtained remotely. This document is necessary to open a bank account, purchase property and pay taxes.
Bank account. To open an account, Petrus came to Portugal.The Immigrant Invest lawyer accompanied him to the bank to apply for the opening of an account and then to activate it. After that, Hendrik and Petrus signed a deed of gift, and the son transferred the money.
Real estate purchase. On the same trip, our real estate expert showed Petrus around several villas, which helped the investor make a choice. Petrus signed the sale and purchase contract and paid the taxes.
The villa cost €850,000. The property transfer tax was calculated at 6%: €51,000. Another fee was a 0.8% stamp duty for registering the contract: €6,800.
Online application for residency by investment in Portugal was submitted through the web service of the Portuguese Immigration and Borders Service, or SEF. When it was processed, Petrus and Martha got an invitation for an interview. We made appointments for them to submit biometrics and prepared the package of documents.
Moving to Portugal. When Petrus and Martha got fingerprinted and submitted the originals of the records, they were issued temporary permits to stay in Portugal until the application had been considered.
At this stage, it had been 7 months since Hendrik turned to Immigrant Invest. Portuguese residence cards were not ready yet, but Petrus and Martha had already relocated to Portugal.
Approval. SEF considered Petrus’s application for half a year and then approved it. The processing fee was €540 per person.
Residence permit cards were issued for the spouses in 2 weeks. The issuance fee was €5,392 per card.
14 months and €919,664 were spent by Hendrik’s family to get Portugal Golden Visas
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October 20th, 2021Preliminary Due Diligence
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+ 1 weekGetting taxpayer numbers
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+ 1 monthOpening and activating a bank account
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+ 1 weekTransferring the investment money to the account
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+ 2 weeksSelecting and purchasing the property, paying taxes€907,800
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+ 5 monthsSubmitting an online application and waiting for it to be processed
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+ 2 weeksMoving to Portugal, submitting biometric data and filing originals€1,080
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+ 6 monthsWaiting for the application to be considered, getting approval
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+ 2 weeks, 15th January, 2023Receiving residence permit cards€10,784
194 m² — 386 m²
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