From 401(K) to Lisbon | Episode 225 with Tiago Gali Macedo
Funding a Portugal Golden Visa
Portugal has jumped in popularity. The European nation has inarguably been one of the most popular golden visa programs to pursue. While buying a house no longer gets one residency, thousands are still choosing to make the country their home.
For folk from the United States, there is an opportunity to use 401K and Retirement funds to actually fund a golden visa to Portugal. What are the options or alternatives to using retirement funds for folk from other countries? Are there any tax benefits?
Mona and Rebecca sit down with Tiago Gali Macdeo to discuss funding options as well as to why Portugal continues to draw so many applicants from the United States and around the world. What challenges can one expect to face? And does the country really live up to all that hype?
“It’s a residency program that permits nationality by naturalization. So, for the time being, five years after you have the Portuguese residency, you might apply for nationality. Also, one of the biggest assets of this program is that you don’t need to live in Portugal. You only need to come to Portugal 15 days every two years. So, you come on vacation, and the requirement of staying is already obtained. And you don’t have worldwide taxation also by nationality in Portugal. So, having the Portuguese nationality doesn’t determine that you need to pay the taxes in Portugal. And you even have the non-mutual resident tax regime. That is quite interesting.
Then, you can bring the family, parents, aunts and daughters, bring them to Portugal also. They can study in Portugal. They have a Schengen visa. And they can work, they can study, they can just relax in Portugal, and eating the nice food and getting the sun in Portugal” – Tiago Gali Macedo
Tiago Gali Macedo
Tiago Gali Macedo is the managing Partner of Next – Gali Macedo & Associados, an international award winner of Legal Awards since 2013, namely Immigration Law Firm of the Year, Real Estate Law Firm of the Year, Boutique M&A Law Firm of the Year, Insurance Law Firm of the Year, consistently ranked among the Top 25 Global Immigration Attorneys by Uglobal Magazine and member of IMC.
Before founding this Firm, he gained invaluable experience working at renowned law Firms, such as Simmons & Simmons Rebelo de Sousa and PricewaterhouseCoopers Portugal.
Next – Gali Macedo & Associados is a multidisciplinary Firm with offices in Porto, Lisbon, and Brussels, and its primary areas of expertise encompass Immigration Law, Mergers & Acquisitions, and Foreign Investment. Tiago Gali Macedo also led a career as Professor at various universities, such as Lusíada University (Portugal), Oporto Business School (Portugal), and Baltimore University (USA). Following an academic path focused on fields such as Labor Law and Corporate Law [with a post-graduation in Labor Law (Portugal) and a 2nd Cycle at the Santiago de Compostela University (Spain), he is currently concluding his PhD at Salford University (UK). He started pursuing Immigration Law as a new area of expertise, being now one of his areas of proficiency, frequently as a panelist in some of the main Immigration events held worldwide.
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