I heard that Portugal has adopted a new regulation that allows property transactions in cryptocurrency. How can I as an American use that to get a second passport in Portugal?
Even though it is now possible to buy property in Portugal using only bitcoin, unfortunately it does not apply, as of now, to the Golden Visa Program. Under this program, you need to buy the property in euros using your own capital transferred from abroad.
Unfortunately, at this point, it is still not possible to execute your investment in Portugal using cryptocurrency, as the current law in force does not foresee it. Also, please bear in mind that Portugal does not provide any kind of direct citizenship by investment program. Instead, it offers you a Program for Investment Purposes (Golden Visa), which will grant you a temporary residence permit. In order for you to apply for Portuguese citizenship, first you will have to apply for a temporary residence permit under the ARI / Golden Visa program for a period of five years. Only once you fulfill the 5-year period, you will be entitled to apply for Portuguese citizenship.
It is not yet possible to invest in a property in order to obtain the Golden Visa using crypto.
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