2024 AMIGOS Act and What It Means for Portuguese Golden Visa

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RIF Trust on the Advancing Mutual Interests and Growing Our Success Act

David Regueiro, our Chief Operating Officer at RIF Trust, is a renowned expert in Portuguese Residency by Investment. His extensive knowledge and experience enable him to understand how global events, such as the 2024 AMIGOS Act, can impact individual Residency by Investment programmes.

This article will detail the new advantages that the Portuguese Golden Visa offers in light of the AMIGOS Act, providing a comprehensive understanding of the implications of this significant legislation.

“When an Act flags Mutual Interests,” David points out, “that shows the country is collaborating with others or is at least open to.” “Now, when that country is the United States, that’s a win-win for somewhere like Portugal.”

David Regueiro, the COO of RIF Trust, concludes: “The Portuguese Golden Visa, a popular European Residency by Investment, already offers significant benefits. With the AMIGOS Act in place, it becomes even more appealing, especially with the opportunity to be eligible for a Portuguese passport within 5 years of obtaining the Golden Visa.”

What is the 2024 AMIGOS Act?

Representative David N. Cicilline, Rhode Island, District 1 112th-118th Democratic Party politician, introduced the AMIGOS Act as a House Bill on Thursday, April 15, 2021. The House passed it on Wednesday, June 23rd, 2021.

This Advancing Mutual Interests and Growing Our Success Act was referred to the Subcommittee on Immigration and Citizenship on Tuesday, October 2021.

The AMIGOS Act makes “Portuguese nationals eligible for E-1 and E-2 nonimmigrant visas if the government of Portugal provides similar nonimmigrant status to U.S. nationals.”

While an E-1 visa and an E-2 visa allow you to stay in the US for a maximum of 2 years, they are different. How? You can apply for an E-1 if you are contemplating “entering the United States to engage in international trade.”An E-2 visa, meanwhile, is ideal if you’re planning on “investing a substantial amount of capital in the United States.”

The Advancing Mutual Interests and Growing Our Success Act addresses investors who count a Portuguese Golden Visa among their new residencies.

It states that “if an alien who has never received an E visa became the national of an E visa-eligible foreign country by making a financial investment in that foreign country, that alien must have been domiciled in that foreign country for a continuous period of at least three years at any point before applying for an E visa.”

Yet this act was implemented on Tuesday, April 23 of this year. You and the dependents you include as part of your Residency by Investment in Portugal can apply for an E-1 or E-2 nonimmigrant visa online. To do so, you must first secure a DS-160 and upload a photo of yourself.

Countries Who Have an E-1 Treaty With the United States

Portugal is not the only country that has established an E-1 treaty with the US. It is, however, the most recent of these Treaty Countries. Brunei signed an E-1 treaty in 1851, and Greece in 1954.

Countries Who Have an E-2 Treaty With the US

The number of countries who have an E-2 Treaty with the US rather than a E-1 Treaty is greater. There is a longer list. It is as follows:

1. Albania
2. Armenia
3. Azerbaijan
4. Bahrain
5. Bangladesh
6. Bulgaria
7. Cameroon
8. Congo
9. Czech Republic
10. Ecuador
11. Egypt
12. Georgia
13. Grenada
14. Jamaica
15. Kazakhstan
16. Kyrgyzstan
17. Lithuania
18. Moldova
19. Mongolia
20. Morocco
21. Panama
22. Romania
23. Senegal
24. Slovak Republic
25. Sri Lanka
26. Trinidad & Tobago
27. Tunisia

Countries Who Have Both E-1 and E-2 Visa Treaties With the United States

The number of countries that have, like Portugal, both E-1 and E-2 Visa Treaties with the US is higher still. This is the most extended list. It is the following:

1. Argentina
2. Australia
3. Austria
4. Belgium
5. Bolivia
6. Bosnia and Herzegovina
7. Canada
8. Chile
9. China (Taiwan)
10. Colombia
11. Costa Rica
12. Croatia
13. Denmark
14. Estonia
15. Ethiopia
16. Finland
17. France
18. Germany
19. Honduras
20. Ireland
21. Israel
22. Italy
23. Japan
24. Jordan
25. Korea (South)
26. Kosovo
27. Latvia
28. Liberia
29. Luxembourg
30. Macedonia
31. Mexico
32. Montenegro
33. Netherlands
34. New Zealand
35. Norway
36. Oman
37. Pakistan
38. Paraguay
39. Philippines
40. Poland
41. Portugal
42. Serbia
43. Singapore
44. Slovenia
45. Spain
46. Suriname
47. Sweden
48. Switzerland
49. Thailand
50. Togo
51. Turkey
52. Ukraine
53. United Kingdom
54. Yugoslavia

How to Secure E-1 and E-2 Visas Through Residency and Citizenship by Investment

As you can see from studying the lists above, investing in Portuguese residency is not your only option to get an E-1 or E-2 Visa. There are other Residency by Investment and Citizenship by Investment routes. Let’s discuss them below.

While a Greek Golden Visa, with a minimum investment of €250,000, is more than the €168,000 required for the Portuguese Golden Visa, it does have other advantages. One of these is the chance to invest in real estate, which Portugal no longer allows. The downside is that you can only apply for an E-1 Visa with this Residency by Investment and not the E-2, too, as you can with the Portuguese Golden Visa.

Grenada Citizenship by Investment is available for a minimum of $235,000. An additional benefit is your eligibility for a Grenada passport, offering visa-free access to 160 countries. However, you will only be able to secure an E-2 Visa by investing in Grenada citizenship; unlike the E-1 Visa, you will also receive access to a Portuguese Golden Visa.

The Canadian Start-up Visa provides another investment migration option. This programme requires a minimum investment of C$275,000. Canada has signed both E-1 and E-2 Treaties with its North American neighbour.

Other countries to agree to both E-1 and E-2 Treaties with the United States are Spain, Türkiye, and the United Kingdom. You must invest at least €500,000 in real estate to qualify for a Spanish Golden Visa. The minimum threshold for Turkish Citizenship by Investment is $400,000, making you eligible for a Turkish passport (visa-free travel to 137 destinations), and it’s £200,000 for the UK Innovator Founder Visa.

Taking the Next Step Towards a New Residency or Second Citizenship

Before deciding whether the AMIGOS Act should make you invest in Portuguese residency, you should discuss your Residency and Citizenship by Investment options with an expert like RIF Trust. Investing in a new residency or second citizenship is something you should do after understanding the benefits and requirements of more than one programme.

So, contact us now, and we’ll show you how to apply to the world’s leading Residency and Citizenship by Investment programmes.