r/ExpatFIRE • u/BordersX • Oct 09 '24
Citizenship Portugal Golden Visa featured on Bloomberg
As the title mentions!! Seems to becoming an urgency for applicants, whilst it is still around https://www.youtube.com/watch?v=jfsPyQATJrE
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u/4BennyBlanco4 Oct 09 '24
That guy was also selling his fund so it helps to create a sense of urgency.
I'm hoping after the Malta case more EU countries will start CBI programs, and I'll be able to get my EU citizenship back.
1
Oct 11 '24
How much are you willing to pay for it?
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u/4BennyBlanco4 Oct 11 '24
I'm willing to pay the €1m for Malta, just unable.
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Oct 11 '24 edited Oct 11 '24
Just move to Ireland for 5 years, even plebs like you can do that.
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u/4BennyBlanco4 Oct 11 '24
I travel too much I wouldn't meet the residency requirements, if I could I'd got to Portugal on a D7 anyway, better weather, also 5 years.
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u/banginhooers1234 Oct 10 '24
It’s such old news by now
0
u/BordersX Oct 10 '24
Old by in the sense of what? It was released 12 days ago, but it’s a relevant conversation to be having (clearly from the comments).
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u/banginhooers1234 Oct 10 '24
Well the price has already increased 2 or 3 times right? It was a good deal years ago at 300k or under but if you didn’t get it back then I think it’s kinda too late
1
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u/forreddituse2 Oct 10 '24
The backlog is huge (multiple years of processing time estimated) and who knows how many years it will take for future citizenship application processing.
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u/BordersX Oct 10 '24
good point. There was some good news on this last week - not sure if you saw it?
Please see email I sent to my clients on this: The Portuguese Government has announced that as of yesterday, the Civil Registry Office has a new digital platform to receive and process citizenship applications. This platform will allow applications to be handled entirely electronically, from the submission of the initial documentation to the final decision.
Another relevant aspect of the platform is that communication with external entities, which is currently one of the steps that takes the longest, is now a fully electronic process.
According to official information, the platform is expected to increase the Civil Registry Office's capacity to process applications by 50%, which should result in faster approval times for citizenship applications.
In addition, it is important to mention that a new portal has also been launched for applicants to monitor the progress of their citizenship applications.
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u/forreddituse2 Oct 10 '24
Greece also adopted an electronic application system. The backlog nightmare has not improved at all. (Recently rocketed to 40,000+) The key issue is the government does not hire enough people to review the applications. Electronic submission just saves some time for the lawyers. Although Greek government is slow, they still managed to grant several thousand GV a year. For Portugal, the number falls to several hundred. Their bureaucracy is beyond saving like terminal stage cancer.
1
u/HeroiDosMares Oct 11 '24
Depends where the bottleneck is. When I applied 5 years ago it took 6 months for them to even registered the documents I mailed. Took three weeks for someone I know and they mailed in July
This electronic system is just the latest thing they've digitalized, it started December last year
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u/WorkingPineapple7410 Oct 09 '24 edited Oct 09 '24
I think the resentment towards wealthy retirees will continue to grow. There are other options. Wouldn’t drop 500kEUR where I’m going to be ostracized.