Portugal Golden Visa Investment Fund List

We've compiled the 60 best Portugal Golden Visa funds
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Fund Name Fund Manager Asset Allocation Fund Term Expected ROI P.A. Management Fee P.A. Subscription Fee Fund Auditors Contact the Fund
3CC Portugal Golden Income Fund 3 Comma Capital SCR, S.A. Multi-asset – Portuguese Corporate Bonds, US Equities & Digital Assets Open-Ended 10% p.a. Category A: 1.5%; Category B: 2.0%; 20% performance fee above 5% hurdle 0% PKF & Associados Get in touch
60 Degrees Ações Portugal Fund Contact Us for More Information Listed Equities in Regulated Markets with Daily Quotation & Liquidity Open-Ended Contact Us for More Information Contact Us for More Information Contact Us for More Information Contact Us for More Information Get in touch
ActiveCap Fund 1 & 2 ActiveCap Capital Partners Portugal Mixed – Contact Us for More Information 10 Years 15%+ IRR 2% p.a. 2% ORA Get in touch
Aim Forest Fund Aim To Invest Forestry – Contact Us for More Information 10 Years 7% IRR 1.75% p.a. 1.50% Contact Us for More Information Get in touch
Ando Europe Fund Stag Fund Management Hospitality Operations & Brand 7+ Years 8–10% p.a. 1.80% p.a. 1.23% Baker Tilly Get in touch
Aretha Portugal Vision Cedrus Capital Mixed – Contact Us for More Information 10 Years 10% IRR 0.67% p.a. 0% KPMG Get in touch
Aquila Wheels Fund FundBox Classic Cars 8 Years 120% Net ROI 1% flat management; 20% performance fee with 5% hurdle 2.50% Mazars Get in touch
BlueCrow Growth Fund Blue Crow Capital Portugal Mixed – Contact Us for More Information 7 Years 6% IRR 1% p.a. 5% Contact Us for More Information Get in touch
C2 Legacy Buyout Fund C2 Capital Partners Private Equity – Contact Us for More Information 8 Years (extensions possible) 15% IRR 2% p.a. 3% Contact Us for More Information Get in touch
Cash-Flowing Renewable Energy Equity Fund Contact Us for More Information Cash-Flowing Renewable Energy & Agro-Industrial Assets 8 Years 8%+ IRR 0.50% p.a. 5% (one-off, deducted from capital invested) Contact Us for More Information Get in touch
Container Fundo de Capital de Risco Fechado (Portugal Container Fund) Celtis Venture Partners Portugal Technology – Contact Us for More Information 10 Years 15% IRR 2% p.a. 2% BDO Get in touch
Continental Retail Fund Magnify Capital Partners Food & Retail 12 Years 8–10% IRR or 4.5% with buy-back option (approved by regulator) 2.50% p.a. 0% Deloitte Get in touch
Emerald Capital Fund Stag Fund Management Renewable Energy Development & Storage July 2026 5% IRR 0.95% p.a. 0.5–1.5% BDO Get in touch
Growth Iberia Investment Fund Growth Partners Capital Portugal Mixed – Contact Us for More Information 10 Years 20% IRR 2% p.a. 2% Deloitte Get in touch
Iberian Net Zero Fund Stag Management SCR SA Renewables & Real Assets 8 Years 8% Net 1.60% p.a. 1.00% Baker Tilly Get in touch
Iberis BlueTech 3 Investment Fund Iberis Capital Portugal Technology – Contact Us for More Information 8 Years 15% IRR 3% p.a. 0.50% Ernst & Young Get in touch
Indico VC Fund 1 Contact Us for More Information Startups & ESG – Contact Us for More Information Contact Us for More Information Contact Us for More Information Contact Us for More Information Contact Us for More Information Contact Us for More Information Get in touch
InVino Investment Fund STAG Management SCR SA Eco & Wine Tourism – Contact Us for More Information 8 Years 7% IRR 1.75% p.a. 1.50% Contact Us for More Information Get in touch
Kickoff Investment Fund Quadrantis Capital Portugal Private Equity – Contact Us for More Information 10 Years 3–5% p.a. N/A N/A Ernst & Young Get in touch
Lakeview Hospitality Fund Contact Us for More Information High-End Tourism Development (Silver Coast) 6 Years 5% IRR or Developer-Mortgaged T2 Property upon Exit 0% 0% Contact Us for More Information Get in touch
Lince Growth Fund 1 Lince Capital Industrial & Circular Economy 8 Years Contact Us for More Information Contact Us for More Information Contact Us for More Information Contact Us for More Information Get in touch
Lince Innovation Fund 2 Lince Capital Innovation & R&D Contact Us for More Information Contact Us for More Information Contact Us for More Information Contact Us for More Information Contact Us for More Information Get in touch
Marcha VC Fund INQBT Capital Portugal VC & Bonds 14 Years 10% IRR 3% p.a. 0% Kreston & Associados Get in touch
MedCapital Portugal Investment Fund (Closed) C2 Capital Portugal Healthcare & MedTech – Contact Us for More Information 10 Years 20% IRR 2% p.a. 1% Ernst & Young Get in touch
Mercan Hospitality Fund 1 Mercan Branded Hospitality Operations – Contact Us for More Information 6+ Years Contact Us for More Information Contact Us for More Information Contact Us for More Information Contact Us for More Information Get in touch
Mercurio Investment Fund Oxy Capital Portugal Private Equity – Contact Us for More Information 7 Years 15% IRR 3% p.a. 2% Ernst & Young Get in touch
Monarque Portugal Hospitality Fund Golden Monarque Portugal Hospitality & Tourism – Contact Us for More Information 8 Years + 1 Year Extension Contact Us for More Information 2% p.a. 3% Contact Us for More Information Get in touch
New Frontiers Energy Fund FundBox Renewables (Solar) – Contact Us for More Information 8 Years Contact Us for More Information Contact Us for More Information Contact Us for More Information Contact Us for More Information Get in touch
Optimize Portugal Golden Opportunities Fund Optimize Investment Partners Portugal Bonds & Equities – Contact Us for More Information Open-Ended Contact Us for More Information 1.80% p.a. 1% Mazars Get in touch
Open-Ended Golden Visa Fund + Property Pairing Contact Us for More Information Private Equity & VC Open-Ended 6% IRR 1% p.a. 0% Contact Us for More Information Get in touch
Pela Terra Fund 2: Regenerate Stag Fund Management Portugal Agriculture – Contact Us for More Information 7 Years 10% IRR 1% p.a. 1.50% Deloitte Get in touch
Planeur Portugal Investment Fund Dunas Capital Portugal Mixed – Contact Us for More Information 10 Years Contact Us for More Information Contact Us for More Information Contact Us for More Information Contact Us for More Information Get in touch
Porto Hotel Fund Contact Us for More Information Hotel & Hospitality Assets 10 Years 11% IRR 1.20% p.a. Contact Us for More Information BDO Get in touch
Portugal Energy Efficiency Investment Fund (PEEIF) II Quadrantis Capital Portugal Renewables – Solar, Wind & Green Hydrogen 10 Years 6% p.a. 2% p.a. N/A Kreston & Associados Get in touch
Portugal Flex Space Golden Visa Fund Insula Capital Flexible Office & Light Industrial Space Leasing 8+ Years Contact Us for More Information Contact Us for More Information Contact Us for More Information Contact Us for More Information Get in touch
Portugal Gateway Growth Fund (Closed) Kigeni Portugal & Portugal Ventures Mixed – Contact Us for More Information 10 Years 12% IRR 2% p.a. 0% BDO Get in touch
Portugal Panorama Fund FundBox Private Equity – Contact Us for More Information 8 Years Preferred Return: 5%; Target Return: 8% 1.75% p.a. 1.50% Mazars Portugal Get in touch
Portugal Pharma Fund Contact Us for More Information Pharmacy Contact Us for More Information Contact Us for More Information Contact Us for More Information Contact Us for More Information Contact Us for More Information Get in touch
Portugal Prime Hospitality Fund Portugal Prime Hospitality Fund Hospitality, Tourism & Healthcare 8 Years 10% IRR 0.20% p.a. 0% BDO Get in touch
Portuguese Capitals Fund Magnify Capital Partners Hotel & Hospitality Assets 12 Years 8–10% IRR or 4.5% with buy-back option (approved by regulator) 1.50% p.a. 0% Baker Tilly Get in touch
Portuguese Champions Open-Ended Fund Contact Us for More Information Publicly Listed Companies – Contact Us for More Information Open-Ended 10%+ IRR 1.20% p.a. 2% Contact Us for More Information Get in touch
Prosper Harbor Investment Fund Oxy Capital Portugal Hybrid Debt – Contact Us for More Information 7 Years 7% IRR 2% p.a. 3% Ernst & Young Get in touch
Quadrantis FCR Hospitality Fund Quadrantis Capital Portugal Hilton Açores & Porto Student Residences 10 Years 6% p.a. 2% p.a. N/A Kreston & Associados Get in touch
Quadrantis Golden Visa Private Equity Fund Quadrantis Capital Portugal Credits & Bonds 10 Years 6% p.a. 2% p.a. N/A Kreston & Associados Get in touch
Saratoga POR 1 Fund Saratoga Capital Portugal Mixed PE/VC – Contact Us for More Information Open-Ended 6% IRR 1% p.a. 0% on subscription & redemption FinTax Get in touch
Sharing Education Fund Magnify Capital Partners Portugal Education (International Schools) – Contact Us for More Information 10 Years Contact Us for More Information Contact Us for More Information Contact Us for More Information Contact Us for More Information Get in touch
Tejo Solar Future Fund Green One Capital Solar & Energy-as-a-Service 8 Years 8% Net IRR 2.00% p.a. 1.50% Baker Tilly Get in touch
Tejo Ventures Fund Green One Capital Renewables – Contact Us for More Information 9 Years 8% Net IRR 2% p.a. 1.50% Baker Tilly Get in touch
Terra Nova Investment Fund Quadrantis Capital Portugal Sustainable Agriculture & Agribusiness 8 Years + 2 Years Extension 10% target IRR; 6% dividend expected after Year 3 1.50% p.a. 1.50% Kreston Iberaudit Get in touch
The Bitcoin Golden Visa Fund Celtis Venture Partners Portugal Cold-Stored Bitcoin Contact Us for More Information Contact Us for More Information 1% p.a. 3.50% BDO Get in touch
The Golden Visa Crypto Fund Contact Us for More Information Portuguese Fixed Income & Digital Assets (primarily Bitcoin) Open-Ended with Monthly Subscriptions & Redemptions 10–20% p.a. 2% p.a.; 20% performance fee 2% Contact Us for More Information Get in touch
Unbound Golden Visa Fund Green One Capital Web3 & Bitcoin 8 Years Contact Us for More Information 1.50% p.a. Contact Us for More Information BDO Get in touch
Ventures.EU Golden Visa Fund Ventures.EU Climate & Deep Tech Startups 10 Years Contact Us for More Information Contact Us for More Information Contact Us for More Information Contact Us for More Information Get in touch
Vida Hospitality Growth Fund Stag Fund Management Portugal Hospitality – Contact Us for More Information 7 Years 10% p.a. 1.50% p.a. Contact Us for More Information Deloitte Get in touch

Types of Eligible Investment Funds

Compare different investment fund options for the Portugal Golden Visa program

Venture Capital Funds

Fundo de capital de risco (FCR)

A venture capital fund, a popular choice for investors seeking high growth potential, can be considered an investment fund route. These venture capital funds focus on early-stage startups with global growth potential, often before these companies achieve profitability. These investments are inherently risky but offer high growth potential, making them attractive to investors willing to embrace risk for substantial returns.

Focus Sectors

  • Technology
  • Life Sciences
  • Clean Energy
  • Energy
  • Industry
  • Healthcare

Key Benefits

  • High growth potential
  • Support innovative businesses
  • Contribute to sector growth
  • Potential for significant returns
Potential Return 10-25%+ Variable
High Risk Profile

Private Equity Funds

Private equity fund

Private equity funds target established companies with medium- to high-risk profiles. These funds aim to increase company value through active involvement in company management. The sectors targeted by private equity funds are diverse, including healthcare, industry, and IT.

Focus Areas

  • Acquiring companies
  • Restructuring
  • Improving systems
  • Expanding to other markets
  • Consolidating
  • Eventually selling these companies

Target Sectors

  • Healthcare
  • Industry
  • IT
  • Other established businesses
Expected Yield 7-15% per year
Medium-High Risk Profile

Mutually Managed Funds

Professional portfolio management

Professional portfolio managers who choose the underlying investments for the fund's portfolio are typically in charge of managing mutually managed funds. These funds can have varying risk and return goals, ranging from modest returns to higher returns with higher risk.

Return Profile

  • Modest returns: 2-5%
  • Higher risk/return: 7-10%+
  • Goal: Beat the PSI-20 index

Examples

  • 'Portugal Liquid Opportunities' fund
  • 'SHARING Education II' fund
  • Investments in public equities
  • International education investments
Return Range 2-10%+ variable
Variable Risk Profile
FAQ
Portugal Golden Visa Fund List FAQs
Essential information about Portugal's investment fund options and fund lists for Golden Visa applicants
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What are the current investment fund options for Portugal's Golden Visa?
As of 2025, Portugal offers a €500,000 minimum investment in qualifying funds for Golden Visa eligibility. These include venture capital funds (FCRs), private equity funds (FCPs), and funds that invest in the Portuguese economy, job creation, or cultural production. Real estate funds must now focus on commercial properties, tourism, or rehabilitation projects in low-density areas.
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How long must I maintain my fund investment?
Your investment must be maintained for a minimum of 5 years from the date your Golden Visa is issued. Early withdrawal or reduction below the minimum threshold will jeopardize your residency status. Most funds have terms of 5-8 years, aligning with Golden Visa requirements. You should understand the fund's liquidation strategy before investing.
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What are the expected returns from Portugal Golden Visa funds?
Target returns vary by fund type and strategy, typically ranging from 3-12% annually. Growth equity and venture funds tend to offer higher potential returns with greater risk, while more conservative funds focusing on fixed assets or debt typically offer lower but more stable returns. Historical performance is available for established funds but not guaranteed for future returns.
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What are the regulatory protections for fund investors?
Portugal's investment funds are regulated by the CMVM (Portuguese Securities Market Commission). All funds must have an authorized management company, independent custodian bank, and regular audits. Fund prospectuses must clearly outline investment strategy, risk factors, and fee structures. The regulatory framework follows EU standards, providing substantial investor protection.
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What fees are associated with Portugal Golden Visa funds?
Typical fund fees include subscription fees (0-3%), management fees (1-2% annually), performance fees (15-20% of profits above a hurdle rate), and administrative expenses. Golden Visa applicants should also budget for application fees (€533 per person), residence permit fees (€5,325 for main applicant, €5,110 for family), and legal services (€6,000-€10,000 for the entire process).
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What is the process to invest in a fund for the Golden Visa?
The process begins with selecting a qualifying fund and completing KYC/AML procedures. You'll sign subscription documents, transfer funds to the custodian bank, and receive confirmation of your investment. Your legal representative will then submit the Golden Visa application with proof of investment, personal documentation, and criminal background checks. Biometric appointments and card issuance typically follow 3-6 months after application.
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Where can I find a comprehensive list of approved funds for the Golden Visa?
The CMVM (Portuguese Securities Market Commission) maintains an official registry of all approved investment funds in Portugal. However, not all listed funds qualify for Golden Visa purposes. Investment migration consultancies and specialized law firms typically maintain curated lists of Golden Visa-eligible funds that are regularly updated. Always verify a fund's Golden Visa eligibility with both the fund manager and your legal advisor.
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How do I evaluate funds on Portugal Golden Visa fund lists?
When reviewing fund lists, consider the fund's track record, management team experience, investment strategy alignment with your risk profile, minimum investment amount, fund term length, exit strategy, and fee structure. Request the fund's prospectus and historical performance data. Consider consulting with an independent financial advisor who specializes in Portuguese investment vehicles to help evaluate your options.
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What types of funds appear on Portugal Golden Visa fund lists?
Portugal Golden Visa fund lists typically include several categories: venture capital funds investing in Portuguese startups, private equity funds focusing on established businesses, real estate development funds for commercial or tourism projects in eligible areas, renewable energy infrastructure funds, and cultural production funds. Each fund type offers different risk-return profiles. As of 2025, pure residential real estate funds are no longer eligible for Golden Visa purposes.
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How often are Portugal Golden Visa fund lists updated?
The CMVM regularly updates its master registry of approved funds, but doesn't specifically designate Golden Visa eligibility. Private Golden Visa fund lists maintained by immigration consultancies are typically updated quarterly or when significant changes occur to fund availability or regulations. Always check the publication date of any fund list and verify the current status of any fund before proceeding with investment.
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Can I invest in multiple funds to reach the €500,000 minimum?
No, the €500,000 minimum investment must be made in a single fund to qualify for the Golden Visa program. Spreading investments across multiple funds, even if they total €500,000 or more, does not satisfy the requirement. However, you can invest more than the minimum in a single fund or make additional investments in other funds after meeting the Golden Visa requirement.
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Are there any online platforms that compare Portugal Golden Visa funds?
Several specialized investment migration platforms now offer comparison tools for Golden Visa-eligible funds, allowing investors to filter by minimum investment, expected returns, risk level, industry focus, and fund duration. These platforms typically provide summary prospectuses and facilitate introductions to fund managers. However, they may not include all eligible funds, and some may charge referral fees that could influence recommendations.
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