“Golden Visa” Portugal for an investor for investing in a venture capital fund
As soon as Portugal resumed issuing Golden Visas, our agency began to receive more and more clients considering this destination. In June this year, one of them was Sergei (44 years old), who wanted to find the best option for obtaining Portuguese citizenship for investment for the whole family without changing his permanent place of residence. In the course of personal conversation we found out that Sergey had built a fairly successful hotel business in Russia.
In the future our client was planning to partially relocate his business to Europe. At the time of contacting the agency, he was looking for an option of obtaining EU citizenship for investments for himself and his wife Irina (32 years old).
At the same time Sergey informed us that it was undesirable for him to buy real estate, but he would like his investments to bring income. As a solution, we suggested buying shares in a venture fund, as the client is well versed in foreign financial markets.
After a detailed consultation with our agent, building a theoretical plan-scheme and preliminary assessment of the return on investment, we decided on the investment option.
Procedure for obtaining a residence permit in Portugal
On the case of registration of the “Golden Visa” Portugal Sergei was ready to spend a maximum of 530 000 €. From 2022 the minimum threshold for investment in funds is 500 000 €. After preliminary due diligence of our clients, we got down to work.
Sergey provided us with the following list of personal and financial documents with certified translations:
- passports of the investor and co-applicant;
- marriage certificate;
- bank account statement;
- certificates of no criminal record.
At the same time we selected several investment fund options with suitable investment programs from 7 to 9 years and payment of dividends at the end of the term. Together with the client, we selected a fund with a yield of 4% and started its preliminary verification. After making sure, Sergey went to undergo a medical examination.
The agent helped him fill out a form to obtain a taxpayer number. We sent it remotely. This process took only a couple of days.
Then we selected a reliable bank to open an account. It took another 4 weeks to verify the client.
After receiving a positive decision from the bank, we contacted the fund and concluded a preliminary agreement with it. This took another 3 weeks.
Our agent asked the Portuguese bank to confirm the transfer of the investment amount of 520,000€ to the account.
We entered into an agreement with the investment fund to purchase the units.
Before the clients' documents were submitted to the Bureau of Foreigners and Borders (SEF), we had to make some translations and obtain entry permits for Sergei's family. It didn't take long to get an answer.
Why is the option of investing in venture capital funds in demand?
For Sergei, the experience of investing in an investment fund was a debut, but far from the first in our practice. Usually, clients turn to us to obtain Portuguese citizenship through real estate. However, this option is not suitable for those who are not ready to be personally involved in the management of the acquired objects and spend monthly on their maintenance.
“Golden Visa” Portugal through investments in investment funds - this is one of the 8 popular areas of investment, allowing in a short period of time to become a resident status for the whole family. In this case, the applicant saves on the payment of taxes, as is the case with the purchase of real estate. Investing in investment funds is a reliable way of investing with guaranteed profitability. The only nuance is that the depositor receives dividends at the end of the program term. Usually the terms vary from 6 to 10 years. You can withdraw your funds early after receiving the status of residence permit. After that, the candidate has the right to apply for permanent residence and EU citizenship.
Looking for a way to get a residence permit and EU citizenship? Experts of the emigration center GARANT.in will help you find the right one for you!