“Are there any downsides, such as tax obligations, that come with obtaining Portuguese citizenship?”
The good news it that, according to Sandra Gomes Pinto of Sandra Gomes Pinto & Associados in Lisbon, “There are no tax obligations that come with obtaining Portuguese citizenship.” This also means that you won’t have to submit an annual tax return, the same way as obtaining American citizenship might. Of course, if you live in Portugal or own property in Portugal, you may have tax obligations in Portugal but these would occur regardless of your citizenship.
Obtaining Portuguese citizenship mainly comes with upsides. This not only includes the right to live and work in Portugal, but also the right to live, work, and retire within the rest of the EU.
Does that mean there are no downsides to Portuguese citizenship? According to Sandra, the only downside to consider would be if your current citizenship is with a country that doesn’t recognise dual nationality.
“I think the main downside would be for those that already hold nationality with a country that doesn’t recognise dual citizenship. In this case, you would have to give up one citizenship in order to obtain another.”