Portugal Golden Visa - Residence Permit

Open Portugal Bank Account

VisaConnect's Consultant's and our Portuguese Lawyers can assist in the opening of your Portugal bank account, as a foreigner. Opening a Portugal Bank account is the first step before subscribing to the Investment Fund. See details of the main Portugal Banks below:

• Millennium BCP
• Caixa Geral de Depositos
• Banco BPI
• Novobanco
• ActivoBank

Bank Account Application for Portugal Residence Permit

Clients can open bank accounts as Foreigners, with the assistance of their Portuguese Lawyer, through signing a Power of Attorney. One bank that is suitable for Portuguese residents is N26.

During the Bank account registration, Investors will be asked to provide the following information and documents:

• Email address
• First name
• Last name
• Country where you live
• Date of birth
• Password
• Phone number (Phone number in any country, but not a virtual number - must be able to receive SMS messages)
• Residential Mailing address (the address they will post your N26 Mastercard)
• Portuguese NIF Number
• Valid Passport or Certified copy
• Certified proof of Income

The Bank will request Client investors to respond to standard Anti Money Laundering (AML) questions, including:

• Gender
• Job title and industry
• City of birth
• Nationality
• Tax residency (the country where you pay tax)
• Tax ID number where you are a tax resident (optional)
• Agree to the Bank's terms and conditions

Funds Subscription Assistance - Portugal Golden Visa

VisaConnect's Consultant's in cooperation with various Fund Managers and Portugal Lawyers, and we can advise and assist Investors, with the Fund Subscription Process, including the following:

• Promotional Fliers/Teasers
• Fund Powerpoint Presentation
• Management Regulation Prospectus
• Reservation Fee Letter
• Subscription application form
• Investor Profile Suitability Test application
• Source of Funds Statement
• KYC Due Diligence forms
• Bank Transfer Deposit to Fund Account
• Fund Declaration of Investment - Declaracao Entidade Gestora - issued by the Fund Manager

Documents for Fund Subscription

The Investor/Client must provide their Portugal Lawyers with the following supporting documents for the purpose of the Fund Subscription:

• Passport - Valid certified copy for all Applicants - to obtain the NIF
• Certified Proof of Address - to obtain the NIF
• Portuguese Fiscal Number (NIF) - The Investor´s lawyer may obtain a NIF for the client or the investor may go to a local Registry/Finanças office (apply by mail or online). In addition, the client must also choose a Portuguese Tax representative for communication purposes.
• Source of Wealth documents
• Certified Proof of Occupation
• Portuguese Bank Account details

Fund vs Property Investment

The Fund route offers the following benefits:

• 1. Tax Efficient - In almost all scenarios Funds are more tax efficient. Direct ownership entails numerous taxes from acquisition, rental and eventual sale. Funds are exempt from many of these taxes.
• 2. Fund market is Highly Regulated - The fact that the Fund market is higly regulated makes funds more secure and offers foreign investors peace of mind given that the Fund Manager, Custodian Bank and CMVM (regulator) supervises all their activity.
• 3. Simple and low maintenance - Holding property directly means dealing with numerous fees, tenants, repairs, building insurance, fiscal representation, mortgages and the conveyancing process.
• 4. Easy Exit - No complicated and costly sales process required.

Fund Investment Strategy for Success

Most Portuguese Funds have an Investment Strategy for success, which includes the following factors:

• 1. Team - Have a like-minded, complementary skill-set team with local experience and a global perspective. Appoint best-in-class professional team and expert advisors to provide insight and overview to an ever-changing environment.
• 2. Quality - Buy quality real estate from premier developers with strong proven track records and after sale support.
• 3. Buy Well - Rule is NOT to lose money. Target Low to moderate Risk-Adjusted Returns with a focus on Capital Preservation.
• 4. Diversification - Provide an effective Portfolio Spread across property types, locations and development stages. Apply modern portfolio management where no single property value is more than 10% of the total investment.
• 5. Financially Efficient - Achieve significant tax and cost efficiencies for investments via Private Equity Funds, providing higher returns to investors than direct ownership of traditional real estate. Ability to have up to 50% leverage on real estate portfolio, taking advantage of historically low interest rates and providing enhanced leveraged returns.

Portugal Private Equity Fund - Features and Benefits

The main features of a Portugal Private Equity Fund are as follows:

• Structure - Type Fundo Capital de Risco | Venture Capital/Private Equity Fund
• Regulated by Comissao do Mercado de Valores Mobiliarios (CMVM) - Portuguese Securities Market Commission - Registration Code: 0000
• ISIN
• Fund Manager - Long history as trusted and experienced professionals in fundraising, deal flow and analysis and execution of investments, in their sectors of specialisation.
• Investment Adviser or General Partner
• Legal/Tax Adviser
• Custodian Bank
• Auditor
• Fund Launch (Seed Investors)
• Subscription Period from date Until date - usually around 15 - 21 months
• Liquidation Period Starting - eg. First Quarter 2028
• Fund Term - usually 7 - 10 years, with possible extensions of 1 or 2 x 12 months.
• Current Fund Size
• Fund Size Target - eg. €35 - 60 Million
• Minimum Participation - for example: €50,000, €150,000 or full €500,000
• Full investment for Golden Visa Requirement- €352,500
• Setup Fee - 3-5%
• Fund Management Fees and Expenses - 1% (p.a.)
• Performance Fee - 5 - 12% or 20% with a hurdle rate of 3%
• Yearly Gross Yield or Fund Expected Return - 6 % - 15 % or Overall return distributed at Redemption
• Fund Focus - exclusive focus on Capital Preservation or focus on High Yield
• Yearly Expected appreciation - 4 - 8% (Conservative Scenario)

Approved Funds, in 2024 - Portugal Golden Visa

Note that since October 2023, a new Portuguese law has imposed limitations on funds that are involved in real estate ventures.

VisaConnect's Consultants can assist and advise with the following top Performing Funds - Fundo de Capital de Risco, which are regulated and supervised by the CMVM - Comissão do Mercado de Valores Mobiliários (Portuguese Securities Market Commission), and eligible for the Portugal Golden Visa, and are also Funds, which accept US citizens:

Portuguese Agrobusiness Fund

The fund's objective is to invest in agrobusiness projects based in Portugal but exposed to the global commodity markets. We aim to help develop new ventures related to forestry, agriculture and agrotech. See Fund features:

• Fund Manager - BlueCrow Capital was founded in 2010 and is controlled by the current management team, which sets up and manages investment funds and provides consultancy services. The main activities include structuring and executing financing strategies for projects at different stages of evolution and monitoring and managing assets. Currently, in January, 2024, Bluecrow has more than 16 Funds under Management
• Minimum Participation - €100,000 Euros
• Fund Type - Capital preservation low to medium risk
• Interest Rate - 3% Dividend + 8% expected capital gains. The funds distribute dividends and have expected yearly capital gains, those ones capitalized and distributed at liquidation

In 2024, Contact VisaConnect's Consultants for advice and assistance with your investment in the Portuguese Agrobusiness Fund Now! Complete our online Contact Form or send us an email or call our Lisbon, Portugal office or Global offices. We will send you the latest Fund Presentation, Fund Subscription Forms and arrange a fast Zoom video call.

Portuguese Entertainment Fund

This fund aims to seek and acquire new, currently operating on a re-structuring phase, high-quality leisure and entertainment - related projects. The team's know-how about this industry is broad and deep in projects like festivals and nightlife entertainment. See Fund features:

• Fund Manager - BlueCrow Capital was founded in 2010 and is controlled by the current management team, which sets up and manages investment funds and provides consultancy services. The main activities include structuring and executing financing strategies for projects at different stages of evolution and monitoring and managing assets. Currently, in January, 2024, Bluecrow has more than 16 Funds under Management
• Minimum Participation - €100,000 Euros
• Interest Rate - 3% Dividend + 8% expected capital gains. The funds distribute dividends and have expected yearly capital gains, those ones capitalized and distributed at liquidation
• Fund Type - Medium risk

In 2024, Contact VisaConnect's Consultants for advice and assistance with your investment in the Portuguese Entertainment Fund Now! Complete our online Contact Form or send us an email or call our Lisbon, Portugal office or Global offices. We will send you the latest Fund Presentation, Fund Subscription Forms and arrange a fast Zoom video call.

Finance Fund

The Finance fund aims to help Portuguese companies to finance their renewable energy portfolio, through energy-efficient producing facilities. Our goal is to distribute a yearly dividend of 8% pa and capitalise the remaining income.

• Fund Manager - BlueCrow Capital was founded in 2010 and is controlled by the current management team, which sets up and manages investment funds and provides consultancy services. The main activities include structuring and executing financing strategies for projects at different stages of evolution and monitoring and managing assets. Currently, in January, 2024, Bluecrow has more than 16 Funds under Management
• Minimum Participation - €100,000 Euros
• Interest Rate - 8% Dividend + 4% expected additional yield. The funds distribute dividends and have expected yearly capital gains, those ones capitalized and distributed at liquidation.
• Fund Type - Capital preservation and low risk.

In 2024, Contact VisaConnect's Consultants for advice and assistance with your investment in the Finance Fund Now! Complete our online Contact Form or send us an email or call our Lisbon, Portugal office or Global offices. We will send you the latest Fund Presentation, Fund Subscription Forms and arrange a fast Zoom video call.

Football Strategies Fund

The Football Strategies fund Invests in second and third-league European football clubs, with a focus on optimising the management and support team and developing the players' academy. The main goal is to promote these teams to the first league, achieving high levels of growth.

• Fund Manager - BlueCrow Capital was founded in 2010 and is controlled by the current management team, which sets up and manages investment funds and provides consultancy services. The main activities include structuring and executing financing strategies for projects at different stages of evolution and monitoring and managing assets. Currently, in January, 2024, Bluecrow has more than 16 Funds under Management
• Minimum Participation - €100,000 Euros
• Interest Rate - 20% expected capital gains. The funds distribute dividends and have expected yearly capital gains, those ones capitalized and distributed at liquidation.
• Fund Type - Speculative

In 2024, Contact VisaConnect's Consultants for advice and assistance with your investment in the Football Strategies Fund Now! Complete our online Contact Form or send us an email or call our Lisbon, Portugal office or Global offices. We will send you the latest Fund Presentation, Fund Subscription Forms and arrange a fast Zoom video call.

Terra Nova Fund

Terra Verde Capital is a private equity fund with best-in class professionals that have more than 20 years of experience in the agriculture and asset management sector. The Terra Nova fund is focused on acquiring downside protected agricultural opportunities that will generate a consistent inflation-linked return for the investors given the appreciation of the underlying commodities. These investments will be done with the highest ESG and Positive Impact standards.

• Fund Manager - Quadrantis Capital is a growing player in the Portuguese Venture Capital and private equity investment landscape. Its management team has a proven track-record of managing over €200m of AuM up to this date, with a deep market knowledge supported by multidisciplinary and complementary skills
• Fund Advisor - Terra Verde Capital team is overseeing agricultural water-rich plantations in Portugal to produce avocados and tangerines, representing 6,131 ha distributed across 6 properties with a total investment of €193.3m
• Minimum Participation - €100,000 Euros
• Interest Rate - 6% Annual target Cash Yield. 10% IRR, and 2.15 times Money multiple
• Fund Type - Low volatility returns with a sharp ratio of 1.24

In 2024, Contact VisaConnect's Consultants for advice and assistance with your investment in the Terra Nova Fund Now! Complete our online Contact Form or send us an email or call our Lisbon, Portugal office or Global offices. We will send you the latest Fund Presentation, Fund Subscription Forms and arrange a fast Zoom video call.

Sharing Education II Fund

Sharing Education Funds I & II invest in the development of international schools and campuses in Portugal. The strategic goal is to acquire existing schools (with either national or international curriculum) and transform them through the SHARING Pedagogical concept.  

• Fund Manager - Management company is Magnify Afterburner, SCR S.A registered with CMVM
• Sharing Foundation - International Sharing School aims to develop inquiring, knowledgeable, and open minded lifelong learners who aspire to build a better tomorrow, through a supportive, respectful and caring environment promoting learning through Sharing
• Buy-back put option for Golden Visa Investors - Possibility of exercising a put option after year 6 with the right to receive, annually, its share of the gross income up to a maximum amount of 4%, or in year 10 with the right to receive annually, its share of gross income up to a maximum amount of 5%. At any time, and at their own initiative, the Golden Visa investors can sell their participation units to third parties
• Minimum Participation - €100,000 Euros
• Fund Type - Capital Preservation with a low interest rate

In 2024, Contact VisaConnect's Consultants for advice and assistance with your investment in the Sharing Education II Fund Now! Complete our online Contact Form or send us an email or call our Lisbon, Portugal office or Global offices. We will send you the latest Fund Presentation, Fund Subscription Forms and arrange a fast Zoom video call.

New Frontiers Energy Fund

The New Frontiers Enerfy fund invests in the shares of solar projects in Portugal, which are at an early stage and appear on the government’s Acordo list. It then assists their development and exits for a healthy profit once the project is at Ready-To-Build stage.

• Fund Manager - FundBox SCR is the Fund Manager. Head of Project origination, Noel Shannon has successfully developed projects through Shannon Energy, in South Africa, Ireland, United Kingdom, Hungry and can draw upon all its contacts to assist New Frontiers to invest into the best countries and projects for solar energy globally, on behalf of its investors
• Solar in Portugal - In 2010, Portugal had the highest dependency on fossil fuels (80% in 2010), but has now developed a renewables sector responsible for up to 60% of its electricity generation
• Interest rate - Target 10% per annum return, growth play so 8 year lockup. All Profits will be paid upon fund maturity in April 2031
• Minimum Participation - €100,000 Euros
• Fund Type - Higher rate of return but medium-risk level

In 2024, Contact VisaConnect's Consultants for advice and assistance with your investment in the New Frontiers Energy Fund Now! Complete our online Contact Form or send us an email or call our Lisbon, Portugal office or Global offices. We will send you the latest Fund Presentation, Fund Subscription Forms and arrange a fast Zoom video call.

Pela Terra II: Regenerate Fund

In 2021, Pela Terra made three groundbreaking moves: launching the nation's first agribusiness fund, identifying a better way to protect investor capital, and introducing sustainable impact investing to Golden Visa seekers. With our initial fund fully subscribed, we proudly introduce Pela Terra II: Regenerate. Anchored by our mission for environmental regeneration, Pela Terra II targets a €100 million raise to further expand the existing portfolio and environmental impact.

• Pela Terra II: Regenerate Fund - In 2023, we launched our 2nd fund Pela Terra II: Regenerate. This fund is eligible under the new regime, has €8M in committed capital and €30M in projects we are actively closing on
• Fund Manager - Stag Fund Management is the Fund manager and their Head of Investments has made impactful contributions to global agriculture through Pela Terra Farmland, and he structured a notable fund for the World Bank
• Fund Type - Pela Terra II employs a straightforward base strategy of purchasing, holding, and cultivating large orchards, delivering simplicity in yield generation. The result is solid capital preservation and an annual yield that grows on trees
• Annual interest Returns - 5% preferential hurdle + 20% additional above hurdle.
• Minimum Participation - €200,000 Euros

In 2024, Contact VisaConnect's Consultants for advice and assistance with your investment in the Pela Terra II: Regenerate Fund Now! Complete our online Contact Form or send us an email or call our Lisbon, Portugal office or Global offices. We will send you the latest Fund Presentation, Fund Subscription Forms and arrange a fast Zoom video call.

InVino Capital Fund

Join InVino Fund, the first eco & wine tourism fund investing in sustainable next-generation opportunities in the hospitality sector in Portugal. The Fund represents a unique opportunity for investors looking for a Golden Visa and investment diversification to secure solid and sustainable returns.

• Fund Manager - STAG is a Portuguese Fund Management company with 12 Private Equity Funds under management, STAG is led by an experienced team with a investment banking and consultancy background
• Investment Strategy -The Fund's capital is intended for investment in companies or projects with high growth potential and asset
  value development. The projects are expected to operate in the eco & wine tourism sector, enhancing the hospitality business through their integration with wine and/or agroforestry ventures
• InVino Fund Investors Club - In addition to attractive expected returns, the fund investors will participate in the InVino Fund Investors Club, an exclusive club where the members will live unique experiences in connection with the eco & wine tourism in Portugal
• Target Returns - 7% IRR with yearly distribution up to 3% of Fund’s returns (subject to Fund Manager discretion)
• Minimum Participation - €200,000 Euros

In 2024, Contact VisaConnect's Consultants for advice and assistance with your investment in the InVino Capital Fund Now! Complete our online Contact Form or send us an email or call our Lisbon, Portugal office or Global offices. We will send you the latest Fund Presentation, Fund Subscription Forms and arrange a fast Zoom video call.

Solar Future Fund

Fund 2, the Solar Future Fund is developed by Tejo Ventures, an Investment form. The Fund allocates capital to the clean energy revolution, a necessary transition to maintain a habitable planet for all, and therefore, a core security that reflects the fund investors primary goal, security.

• Fund Manager - The Fund manager is Green One Capital, a global private equity and venture capital fund manager with an excellent track recordand specific expertise in climate and energy
• Fund Projects - Capital will be allocated to infrastructure projects across: Utility Scale Solar, Energy-as-a-Service, Distributed battery storage and Solar merchant plants
• Interest Rate - We are a mission focused fund, investing in a secure future for our families by investing in the fastest growing energy technology in history, solar renewables. Our strategy ticks all 4 boxes, anticipating an 8% IRR over the investment period including a 4% annual cash yield starting at the end of year 2
• Fund Type - The fund strategy is focused on low to medium risk capital preservation
• Minimum Participation - €250,000 Euros

In 2024, Contact VisaConnect's Consultants for advice and assistance with your investment in the Solar Future Fund Now! Complete our online Contact Form or send us an email or call our Lisbon, Portugal office or Global offices. We will send you the latest Fund Presentation, Fund Subscription Forms and arrange a fast Zoom video call.

Contact VisaConnect for Residence Permit Assistance

For information about the Portugal Property (Real Estate) and how our Immigration Consultants and Portugal Lawyers can assist you, click on the following VisaConnect website pages:

• Buy Property in Portugal
• Portugal Private Equity Fund for Golden Visa, in 2024 - VisaConnect's PDF

Office Address and Telephone - VisaConnect Portugal

Contact VisaConnect's Consultants at our Lisbon, Portugal office below:

VisaConnect Portugal
Avenida do Atlântico, Nº 16, escritório 5.07,
1990-019, Parque das Nações
Lisboa
Portugal

Telephone: (+351) 304 501 939

Useful Links - Portugal Equity Funds

• CMVM - Portuguese Securities Market Commission
• SEF - Servicio De Estraneiros E Fronteiras - ARI Residence Permit for Investment Activity
• Schengen Area - The World's Largest Visa Free Zone

Frequently Asked Questions - FAQ - Portugal Golden Visa - Funds Investment

How do I open a Portuguese Bank account?

Usually, your Visa Agency and the Portuguese Lawyer will assist you with completion of application forms and supporting documents, so that you can open your bank account, without visiting Portugal. Note that the transfer of the €500,000 Euros for the investment would be transferred from your foreign bank account to your Portugal bank account. Then you would transfer the funds from the Portugal bank account to your Fund or Funds Depositary Bank accounts.

Can I invest in 3-4 Funds to 'spread the risk'?

Yes. It's definitely possible to invest in multiple Funds, but be aware that certain Funds have a minimum participation amount, which may be approximately €100,000 Euros, whereas other Funds stipulate that the entire investment amount of €500,000 Euros must be invested in their Fund.

What Form does a Fund Manager request that I complete in order to invest?

Each Fund has their own Compliance process, which includes completion of a Form and supporting documents about the Investor, Due diligence checks, KYC, and Money laundering, but the Applicant often completes an 'Investor Profile Suitability Test' form (TESTE DE ADEQUAÇÃO DE PERFIL DE INVESTIDOR – PESSOA SINGULAR).

If I decided to invest in a Fund, do I need to sign an Agreement with each Fund?

Yes. You will need to complete a Subscription Agreement (Boletim Subscricao), which includes the following information: 1. Identification (Contact details). 2. Politically Exposed Persons? 3. Income Source/Relevant Wealth Data. 4. List of Attached Documents - such as Proof of Overseas address, Copy of Taxpayer card, Proof of Profession/Retirement and Evidence of Portuguese bank account. 5. Subscription Identification - Number of Units and amount that you will invest in the fund in Euros. 6. Form of Payment - bank transfer. 7. Signatures (Assinaturas) - signed and dated by the Fund Manager and the Investor.

What are the main advantages of Funds Investment versus Residential Property Investment?

A Fund Investment has less fees and taxes associated with it, as opposed to purchase of Property in Portugal, and the Fund should generate a higher Annual Net income than Property. Generally, a Fund may have a Set-Up fee, Management fee - around 1% per annum, and Performance fee - around 5-10%. Note that all fees are deducted from invested capital. Whereas, a Residential Investment has the following fees and taxes: Property Management fees, Condominium fees, Maintenance costs, Insurance policies, Deed Charges, Fiscal and Legal representative costs, Transfer tax, Annual Gross IRR, Municipality tax, Net income Tax and Property maintenance costs.

What are the steps required to get a Golden Visa through Funds investment?

1. Visa Agency Assistance - sign agreement with VisaConnect for Agency assistance and advice. 2. Applicant's Intention to Subscribe to the Fund (s) - complete KYC process. 3. Portuguese Lawyer - VisaConnect's referral to a Portuguese Lawyer and sign Agreement with Lawyer for Golden Visa assistance. 4. Open Portuguese bank account. 5. Subscribe to the Fund (s) and make the Investment. 6. Golden Visa Residency Card approved in approximately 6 months.

What are a few significant benefits of investing in Portugal?

A. Quality of Life. B. Political and Social stability. C. Modern Infrastructure. D. Accress to free world class education. E. 5th Strongest Passport - 184 visa free countries. F. Access to free and universal healthcare. G. 3rd safest country in the world. H. Best country in Europe for expats. I. Favourable tax and fiscal regime. J. Access to Schengen Area. K. Mediterranean Food, Nature & Lifestyle.

Once I have made the investment, do I get any confirmation document from each Fund?

Yes. You will receive a Declaracao Entidade Gestora (Fund Declaration), which will be signed and dated by the Directors of the Fund and specify the number of Units and total amount in Euros invested.

What portfolio type of Investment should I invest in?

Note that since October 2024, Funds have new Property Real Estate restrictions, so the Fund can no longer comprise any Property projects. There are many different types of investment, with some investments generating higher annual returns than other investments, including: 1. Wine - Vineyards and Cork production. 2. Agricultural Properties - Irrigated farmland is a very attractive & scarce asset class that offers investors a combination of a steady yearly income and high exit returns due to the natural appreciation of the land. 3. Farmland - Sustainable development - Organic agriculture improves nutrition and supports local food. Protects bio-diversity, halts and reverses land degradation, and promotes vital ecosystems through their farming methods. In addition, Sustainable agricultur sequesters carbon and creates more resilient landscapes. 4. Solar Energy - renewable energy investment projects, based in Portugal.

Does a Fund need to be registered with the Portuguese Securities Market Commission (CMVM)?

Yes. The Fund would need to be supervised and regulated by the Portuguese Securities Market Commission (CMVM) - Comissão do Mercado de Valores Mobiliários, with an Authorised Number.

What is a good Target Return on my Investment?

Each fund has a different Target Return, and some Funds may be regarded as more conservative, with a focus of 'Capital Preservation', while other funds may be regarded as more speculative, but with a higher Target Return. For example, the Blackbull fund has an 8% (estimated annualized return, not guaranteed), with an investment hurdle rate of 4%, after deducting performance fee. Alternatively, the Odeon Private Fund is targeting an overall 11% total return per year that includes a 4% annual target coupon and potential upside return at fund maturity.