{"id":39101,"date":"2022-02-04T17:48:13","date_gmt":"2022-02-04T13:48:13","guid":{"rendered":"https:\/\/www.savoryandpartners.com\/?p=39101"},"modified":"2022-02-04T17:48:13","modified_gmt":"2022-02-04T13:48:13","slug":"second-citizenship-or-residency-taxes-fees-to-consider","status":"publish","type":"post","link":"https:\/\/old.savoryandparnters.com\/blog\/second-citizenship-or-residency-taxes-fees-to-consider\/","title":{"rendered":"Second Citizenship or Residency: Taxes & Fees To Consider"},"content":{"rendered":"

Investing in a second citizenship or residency abroad is one of the most fruitful ventures any high net worth individual (HNWI) can pursue. It unlocks the doors for global travel while simultaneously providing its holder with an elevated investment status.\u00a0<\/span>\u00a0<\/span><\/p>\n

HNWIs tend to consider obtaining a second citizenship or residency<\/a> not only for themselves but their family members as well; providing their children with a platform upon which to build their success. This approach means adding as many family members to an application as possible, maximizing the return on investment.<\/span>\u00a0<\/span><\/p>\n

However, with the addition of other family members to an application, the investment, or more accurately, the associated fees could increase. We at Savory & Partners<\/a> always highlight the exact amount applicants have to consider when choosing their residency or citizenship by investment program<\/a>, and in tune with that philosophy of transparency, we want to share with you the most important fees and taxes to take into account when budgeting for your application.<\/span>\u00a0<\/span><\/p>\n

What Is The Nature Of The Additional Fees You Need To Know About?<\/strong><\/em>\u00a0<\/span><\/h3>\n

Any additional fees are payments <\/span>alongside<\/span><\/i> the investment, which do not go into the investment itself.<\/span>\u00a0<\/span><\/p>\n

These fees can come in various shapes or sizes, such as taxes, stamp duty, government fees, application processing fees, due diligence fees, or otherwise.<\/span><\/p>\n

You Might Also Like:\u00a0 Residency & Citizenship Programs – Global Updates of 2022<\/a><\/em><\/p>\n

Each residency or citizenship by investment program has its own set of particular fees, many of which coincide with the nation’s tax regime. To understand the nature of these fees better, we will look into some of the most popular residency and citizenship by investment programs in the world.<\/span>\u00a0<\/span><\/p>\n

Residency by Investment<\/strong><\/em>\u00a0<\/span><\/h3>\n

Three of the most popular residency by investment programs globally are the Portuguese<\/a>, Spanish<\/a> and Greek<\/a> golden visas. These pathways require applicants to invest in real estate for a minimum of \u20ac280,000, \u20ac500,000 or \u20ac250,000, respectively. There are, however, other fees associated with each program, and we will dive deeper into both.<\/span><\/p>\n

Portugal<\/strong><\/span><\/h4>\n

Investors wishing to obtain a Portuguese golden visa<\/a> have a wide array of investment options, ranging from investment funds, capital investments, or the creation of jobs. However, it is the real estate option that achieves the overwhelming majority of applications<\/strong> (over 90%), and the minimum investment threshold for real estate starts at \u20ac280,000<\/strong>.<\/span><\/p>\n

Don’t Miss: How Residency by Investment Broadens Your Children\u2019s Education<\/em><\/a><\/p>\n

Additional fees within the scope of the Portuguese golden visa come in the shape of taxes, processing fees, as well as residency issuance and renewal fees.<\/span>\u00a0<\/span><\/p>\n

Here is the breakdown of the fees:<\/span><\/p>\n