Safety first!

Ranked the 7th safest country in the World by the Global Peace Index, Portugal feels totally absent of any risk. I personally leave my front door keys under the mat, incase I need someone to let themselves in when I am out, I don’t lock my car, and I haven’t locked my Vespa since I left London 6 years ago. Portugal’s world leading drug policy means that addicts are taken care of the by the state, we do not suffer a vagrancy challenge and in general society is respectful and gentle. Its level of peace and quiet is partly a reason why it was ranked as the best country for retirement in 202. Annual Global Retirement Index.

Do I have to learn Portuguese to live in Portugal?

If you are language challenged like myself, the thought of learning Portuguese can be quite daunting. Luckily, everyone speaks English, both socially and in business, and so you can easily live your life without ever learning the language. Of course it’s nice to be able to converse a little, something I struggle with honestly, but it isn’t necessary. There are plenty of Portuguese teachers, charging €20 per hour to get you speaking, and to help you pass the Portuguese A2 exam when you are at the end of the program and applying for your passport.

What is the political landscape like?

Portugal is a stable parliamentary democracy with a multiparty political system, lead by both a President (Head of State), currently centre-right and a Prime Minister (day-to-day running of Government) centre left. The Portuguese parliament is unicameral, meaning that a single body, the Assembly of the Republic, consisting of 220 elected members from the various political parties, passes all laws.  The current government has a majority mandate for the next four years, 2022 - 2026, and holds executive power.

What is the cost of living in Portugal?

Although costs have been increasing as a result of the influx of foreign national moving to the country, it is still an affordable place to live. By way of a few examples, private primary education at Redbridge, one of the top schools in the city, is circa €8,000 per annum, rent for a central Lisbon, 3 bedroom apartment is in the region of €3,500, private medical insurance circa €100 per month per individual and a good dinner out on the town with wine for two around €70.  Check out this quirky little cost of living widget to compare your city.

What is the healthcare like?

If you are a foreigner with legal residence in Portugal you will typically be eligible to access subsidised state healthcare, ranked 13th in the Euro Health Consumer Index. The healthcare system is generally very high and is thought of as the primary choice for large operations and treatment of ongoing health issues. We typically have fully comprehensive private medical health too, used when you’re looking to have quick check ups etc.  A fully comprehensive plan, including global medical insurance for when you are travelling, costs €100 per month.

What is the education system like?

Depending on your child’s age, education in Portugal can follow different paths. Children can study at a private or international schools, free state schools, or join a vocational course that is adapted to a specific career.  The Ministry of Education (Direção-Geral da Educação – DGE) regulates the education system in Portugal, starting from pre-school up until secondary school. School groups also work closely with local municipalities to assign funding and define the curriculum. The Ministry of Science, Technology, and Higher Education (Ministério da Ciência, Tecnologia e Ensino SuperiorMCTES) oversees policies and budgets for tertiary education in the country. While Portugal offers a mix of state and private schools, most Portuguese families send their children to state schools because they are free and local. Many parents also enroll their children before the age of six, which is when mandatory education begins. However, private institutions have other benefits. For example, international schools cater primarily to expats and offer various curriculums from around the world. As a result, the curriculum is often taught in English, Portuguese and one other language.

Golden Visa

What are my options for investing in the program?

There are a number of different options for investing into the program:

  • Fund Subscription: Make an contribution in a investment qualified Fund worth at least €500,000
  • Capital Transfer: Make a capital transfer of at least €1.5 million
  • Scientific Research: Science or Technology research contribution of at least €500,000
  • Job Creation: Company incorporation and creation of ten jobs amounting to a minimum value of €500,000
  • Donation: Support the arts or reconstruction of national heritage with a donation of at least €250,000
What are the advantages of investing through a Fund?

Fund are the de facto investment option for investors in the program now that it is no longer qualifying to invest in real estate or a derivative of real estate.

  • Golde Visa eligible
  • Minimal capital allocation friction
  • Diversification (as opposed to investing in one property)
  • CMVM regulated (SEC equivalent) third party fund managers oversee capital allocation strategy
  • Tax free disbursements of profit to be treated in your primary domain
Does my family get the passport as well?

Your application (main applicant with proven legal income, over 18 years of age, with no criminal record or debts in Portugal making a foreign investment) can include:

  • Spouse or legal partner
  • Children under the age of 18
  • Unmarried children under the age of 25 in full time education
  • Parents and parents-in-law who are over 65 years
  • Siblings under the age of 18 who are dependent on the main applicant

If you marry or become legally partnered post entering the program, your new partner can be included. If you experience a divorce in that period, your former partner’s right to apply will be rescinded.

How much will the program cost me?

Costs for the lead application for the full program are €41,197 broken down as follows: 

  • Tejo 360 including full legal representation, application, NIF and tax representation (year 1), translations and KYC - €15,000
  • Government fees - €13,337
  • ARI bank declaration - €2,100 (main applicant only)
  • Tax representation - €6,000 (per applicant aged 18+, commencing after year 2)
  • Bank maintenance - €4,760 (main applicant only)

Additional costs for each family member under 18 are €18,337 and €24,337 for over 18, broken down as follows: 

  • Tejo 360 including full legal representation, application, NIF and tax representation (year 1), translations and KYC - €5,000
  • Government fees - €13,337
  • Tax representation - €6,000 (per applicant aged 18+, commencing after year 2)

What will the program entitle me to?

You gain immediate access to the other 26 countries that make up the European Schengen Zone, entitling you to move freely across borders and stay in the country up to 90 days within a 180 day window. You are also entitled to utilise the excellent public healthcare system and enroll your children in the public education system with the opportunity to transfer attendance from a Portuguese University to a European University of your choice.

What is initially required for my application?
  • Being over 18 years old
  • Proven legal income
  • Clean criminal record
  • No debts in Portugal
  • Making a foreign investment (funds originally come from a foreign bank account)
  • Proof of employment and income
  • Proof of residency
  • A Portuguese bank account

The process of generating these documents, having them witnessed by an apostille, producing the necessary wet signatures and opening the bank account to receive the investment capital takes approximately 4-6 weeks.

How long does it take to gain a passport?

With passing of the new Nationality Law, time spent in the program starts being counted from your application date. This has reduced the estimated time required to attain citizenship to 6.5 - 7 years.

How often do I have to visit Portugal?

You are required to be in Portugal for a total of 35 days over the 5 full years of the application, 7 days in year 1, 14 days over the following two years, and a further 14 days over the last 2 years.

How am I taxed?

You are not subject to double taxation. Disbursements from the fund are tax free, with an understanding that reporting is done by the individual in your primary tax residency.

Can I access the healthcare system?

Yes. Additionally, comprehensive private healthcare costs approximately €800 per annum.

Can I access the education system for my kids?

Your children have access to the Portuguese education system through to and including University. Public University costs approximately €1,250 per annum and attendance can be transferred to most other European Universities of your choice. Private education in Portugal costs between €6,000 - €15,000 per annum for both private schools and universities.

What happens if the Government decides to end the Golden Visa Program?

Once your application into the program has been accepted, it cannot be rescinded. This was proven in 2023 when the incumbent Government tried to repeal the program as a populist move. They failed due to the binding legal commitment from the state to investors. As a result, the program was redesigned, no longer allowing for real estate investment as a qualifying investment.

The Fund

How much do I have to invest?

A total of €500,000 to be eligible to the Portugal Golden Visa.

When do I have to transfer the capital?

Full capital call will be done prior to the online application into the Golden Visa program.

What are your fees?

We charge a 2% annual management fee and a 20% carry (20% of the profit we make you). An outside compliance team reviews all of our prospective investments and must stamp approve them for the CMVM (Portuguese regulator). For this layer of compliance and deal security, the compliance team charge 0.4% of the annual management fee, and 25% of our carry, included in our total fees.

How often do the LPs receive an update?

Our investors will receive extensive updates on the Fund’s developments and our target investments’ milestones and achievements once per quarter, including an update on the status of your visa application.

Who are your regulatory and professional partners?

Regulator - CMVM

Compliance/Fund Management - Green One Capital

Legal - CRSAna Bruno

Auditors - Baker Tilly

Custodian Bank - Bison Bank and Banco Atlantico

Can I exit the fund early?

We will attempt to liquidate out investors who seek early redemption via asset sales. This will be dictated by the fund strategy and cycle.

How will the fund liquidate my position at the end of the term?

The goal for the fund is to finance solar infrastructure development and then engage in asset rotation with a goal of being liquid prior to the end of the 8 year term.

What is your targeted raise for the Solar Future Fund?

Targeted at €50,000,000, the fund becomes Golden Visa eligible as soon as €1,000,000 has been raised.

When does this fund close?

Fund 2 will be open to investor capital until December 31st 2024.

How is capital gains taxed?

Distributions from the fund are tax free, with the LPs expected to declare capital gains in their own tax jurisdiction.