Let’s take a closer looks at some of the steps.
Getting a NIF and opening a Portuguese bank account
You are going to need confirmation from a Portuguese bank that you have transferred the funds or made your property investment. You will need a Portuguese fiscal number (NIF) to open the bank account.
It’s not a complicated process and can be done in a few hours. To get a NIF as someone without a fixed legal address in the EU/EEA, you will need a Portuguese representative for the tax authorities. This can be done by your lawyer.
Identifying and making your investment
Nearly all Golden Visa investors chose to invest in real estate, that is gradually changing as more investment options become available (such as investment funds).
However real estate investment is still a great deal. Particularly if you plan to buy a property to rent out or maybe one you intend to live in yourself.
Buying property in Portugal is open to anyone, with no restrictions on your nationality or residency.
Keep in mind that in Portugal, real estate agencies usually work for the seller. You don’t pay them a fee directly (it’s covered by the seller, and based on a percentage of the sales price).
You may choose to appoint a company like Portugal Property Search or engage an independent property search agent. Have someone working for you that has your best interests in mind. Historically, property has been one of the best low risk investments it is possible to make.
Also have your lawyer look over buying contracts and other legal aspects of the investment, before signing anything.
But what if you’re not currently interested in investing in Portuguese real estate?
Luckily there are more options. This year, the option to invest in a fund that meets certain qualifications has gained popularity. In this case the minimum investment amount is €350,000.
This is a relatively new option and there aren’t many funds available yet. This fund managed by Lince Capital is one example. It’s a relatively conservative fund, investing in (secured) real estate debt, regulated low-risk financial products, and private equity (mezzanine loans). It’s paying a fixed rate of 1.5% annually and has a maturity of 6 year.