Six years ago, I dreamed about getting an EU passport. Today, I’m a Portuguese resident, well on my way to becoming an EU citizen. My Portuguese citizenship is currently being processed, and although paperwork can take a very long time, I hope to have my Portuguese passport in the next year or two.
But let me back up and explain.
During the COVID-19 pandemic, I missed Europe and was itching to travel, so I started researching how I could get an EU passport. Dual citizenship can be beneficial for many reasons, but since birthright citizenship wasn’t an option for me (even though I’m Irish, my grandparents and parents were born in the United States), I discovered the Golden Visa programs offered by many European countries.
As it stands, many of the Golden Visa programs that EU countries once offered are no longer available or have changed significantly. At the time, I felt Portugal was the most feasible, so I decided to give it a try.
Here’s the story of how my Portuguese residency and citizenship process began, and the point where my family and I are right now.
Portugal’s Golden Visa program: My experience
When I began searching, Portugal’s program was the most intriguing: I could invest as little as €280,000 (about $318,000 U.S.) in real estate or real estate projects, spend limited, specific amounts of time in Portugal each year for five years and then obtain Portuguese residency with a pathway to Portuguese citizenship.
Although I could have completed the process on my own, I chose to work with a group called Mercan, investing €350,000 into the Renaissance Hotel Porto (I’m one of 180 “owners”). Based on my €350,000 investment, the developer, RA Group, will provide an annual return of 3%. I also spent about €20,000 in legal fees.
It’s not mandatory to work with a company, but there’s a tremendous amount of bureaucracy involved. If you want to complete it on your own, be prepared to put in hours of research and paperwork.
About six months after the initial investment, I obtained Portuguese residency in 2021. Then, I spent the required time to be eligible for citizenship (one week per year) and to keep my residency active.
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My citizenship paperwork was submitted and accepted in 2025, but due to a large backlog and program changes, it may take a while to be processed. Before I get it, I’ll have to take and pass a Portuguese language exam (wish me luck).
Mercan has been extremely helpful throughout the process, helping me obtain my Portuguese tax number, set up my bank account, prepare investment documents, complete SEF/AIMA filings, and complete biometrics. Part of the investment deal with Mercan is the mandatory buy-back. They buy back the original share of my investment at the original price once my full citizenship is approved. And, I won’t have to pay taxes in Portugal on my U.S. income since I already pay U.S. taxes.
My children are also eligible for residency and citizenship
I’m doing this not for tax purposes or financial gain (you should seek out tax advice and investment advice with licensed professionals, as I’m not an expert in these fields), but rather to have the flexibility and opportunity to live and work in the EU, and to give my children that same versatility. In fact, thanks to my application, my children, parents and spouse (should I have one), and my spouse’s parents are eligible for the program. Plus, a Portuguese passport is highly ranked among the world’s most powerful.
Presently, my two children are going through the process as well. My older son, Dean, has completed most of the steps needed to get his residency — he just had his biometrics appointment in March. My younger son, Cooper, has just had his application approved and is on the path as well.
Changes to Portugal’s Golden Visa programÂ
It’s true that there have been many changes to Portugal’s Golden Visa program (and to Golden Visa programs in other EU countries), but since I applied for citizenship right before the new rules were enacted into law, I qualified for the five years of residency. But now, my kids and any new applicants will need 10 years of residency (spending one week in Portugal each year).
Investment levels have also changed
Unfortunately, citizenship via Portugal’s Golden Visa program is no longer as simple as it once was.
But getting the residency itself is also more expensive — you’ll now need a minimum capital investment of €500,000 (about $568,000 in U.S. dollars) in a Portuguese company, combined with specific employment requirements, to gain residency. Or you can contribute €250,000 to eligible cultural institutions or heritage projects (the amount is reduced to €200,000 in low-density areas, excluding Lisbon and Porto).
It’s always good to discuss applying for these programs with a tax professional, lawyer and/or financial adviser to see how EU and U.S. tax laws would apply to your particular situation.
If you’re considering EU residency — don’t wait
As you can see, requirements can change at any time, but if you’ve already submitted an application, in most cases, the former rules apply to you.
It’s true that the rules in Portugal are more complicated now, but there are other paths to EU residency, such as Golden Visa programs through countries like Greece. However, there’s no guarantee these programs will stick around. For example, Spain ended its Golden Visa program in 2025. If this is something you want, don’t waste any more time if this is your dream.
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