Naturally, the main cost incurred in the Golden Visa process is incurred from the property you purchase, but investors should anticipate a few further costs in the application process too.
For example, you’ll have to factor in your down payment for the property (which is made in cash), and there may be additional fees associated with the evidential documentation you will need to submit – for instance, if you’re having a professional cast their expert eye over them (which it is always advisable to do).
Purchasing a property in Portugal also attracts certain taxes, stamp duty charges and fees. These costs vary, but to provide a ballpark figure for you to work with, we recommend setting aside between nine and ten per cent of your budget to cover taxation costs. The main component of this taxation will be the Property Transfer Tax (IMT).
Portuguese government fees for the initial Golden Visa application stand at €5,325 per family member. Once this initial application is accepted, please remember that you’ll also need to pay renewal fees every two years at €2,663 per applicant.
Additionally, your initial application will incur a processing fee of €533 for yourself as the main applicant, and €83.10 for each of your dependents. This cost is applied every time you renew, and subject to increase in accordance with inflation.
And finally, you’ll also need to budget for your lawyer fees to ensure the process goes to plan – these typically add up to around €6,000 – €8,000 by the end of the Golden Visa process.