Living in Portugal is the dream for many South Africans, and those wishing to make this dream a reality often opted to apply for a golden visa. According to Henley & Partners, a leading global investment migration firm, a golden visa grants approved applicants’ full residence rights in exchange for a defined economic contribution to the country. To many high-net-worth individuals (HNWIs) in South Africa, this permit offers a golden ticket into Europe. On 16 February 2023, this dream was shattered when the Portuguese government released a draft of a law proposal aiming to end its Golden Visa Program. While this is disheartening, those seeking a pathway to European residence and citizenship through Portugal have one last opportunity to do so.
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There are three main areas of concern anyone intent on emigrating to the US must consider to transition their lives smoothly and relocate wealth safely.