2024 AMIGOS Act and How It Impacts Portuguese Golden Visa
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Europe, News feed Date: 11 November, 2024

2024 AMIGOS Act and What It Means for Portuguese Golden Visa

2024 AMIGOS Act and What It Means for Portuguese Golden Visa

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.

What does the AMIGOS Act mean for Portuguese Residency by Investment?

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.

2024 AMIGOS Act and What It Means for Portuguese Golden Visa

Date: 11 November, 2024

Posted in: Europe, News feed