Can I use a mortgage or a loan to fund my Portugal golden visa investment?

Borrowing is not expressly prohibited merely because the capital is borrowed, but the applicant must make the qualifying transfer, own the fund units and produce a complete, lawful source-of-funds trail. A loan secured against assets abroad may be workable if the lender, loan agreement, disbursement, security, repayment capacity and bank movements are fully documented and accepted by the Portuguese bank, fund and AIMA. A loan secured on the qualifying units, or any arrangement that prevents the applicant being certified as holder free of liens and encumbrances, is much riskier. Expect enhanced AML questions about the lender and the source of the lender’s money. Portuguese mortgages no longer create a Golden Visa route because new real-estate applications ended in October 2023. Obtain Portuguese immigration advice and separate lending and tax advice before drawing or transferring funds.

David Simões Fitas, Ordem dos Advogados 67185P