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Viktor Vaughn

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Colonising them, assuming you are still catholic, will give you a relations penalty with both the Papal State, as well as the nation who has the land assigned to them. In addition you get -10 yearly papal influence, and a -20 local settler increase

Totally up to you, my bet is you don't care about Portugal and you don't think to highly of Spain so making them mad probably won't do anything to you. The papal influence loss can be bad, and your colonies will grow slower. It's basically a question of do you want the colonial nations now, or are you ok conquering them later.

Also be aware that you only get the treaty if the Papal State's opinion is +50 with you. So breaking someone else's treaty makes it much harder to get your own treaty in another colonial region.
 

Dokar

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The papal influence malus basically makes catholicism worthless. Being a catholic while barely gaining points to spend on goodies is useless. I would either stay away from those colonies or convert to another religion. Also, the -20 settler increase is really bad, especially early on.
There are two other options if you really want to stay catholic for w/e reason but still colonise: Declare statute and just accept the fact that you won't get any papal influence but get a few bonuses instead.
You can also just conquer their colonies through warfare. Afaik, conquering provinces through war does not count as violating the treaty of Tordesillas.
 

Mr. G

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My entire country is catolic,would i not have a large problem with religious revolts if i turn protestant?

You get a conversion bonus vs heretics the first years efter conversion. If you are a larger country, you might want to be defender of the faith in order to get another missionary.
 
Nov 9, 2017
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My entire country is catolic,would i not have a large problem with religious revolts if i turn protestant?
You get a rather large bonus to missionary strength vs heretics when you convert. Unless your nation is quite large you will likely convert enough of your provinces in time to avoid a disaster.

There will likely be some rebels, but nothing you can't manage. Protestant is decent religion for a casual game, probably ideal for a tall game. It can grant + 20 settlers per year so it is pretty great for colonisers.