Invest in your future

The Gold Visa by investing in innovation is the first visa in Portugal where you invest in the new ideas sprung by this fund. You will have a future in Europe in a country that is seeking growth. It is an exciting time to be alive.

A great place for you and your family.

Investment profile


Minimum of 60% of the fund size is invested in Portuguese companies for innovation and project financing related to internationalization. 20% of the fund size is invested for investment operations to spread operation risk. The capital that is invested is secured either as “1st lien loan” or through immediate liquidity.

Investment portfolio


40% of the fund is invested in regulated financial products. Investments in this category are described as having a “conservative” profile. 30% of the fund size is invested in core/core-plus real estate and are described as indirect investments. 30% of the fund size is invested in private equity where companies falls under the description as “mature” company capitalization.

Important: Subsidiaries financing is guaranteed by real assets, future revenues and/or bank guarantees.

Legal features


The fund is fully regulated by the Portuguese Stock Exchange Commission (CMVM). The investment fund is administered by the Portuguese Securities Market Authority. The fund, seen as a financing vehicle assures total transparency, liquidity, and compliance. Limited responsibility is secured by the fund shares, both for investors and fund portfolio.

Tax & fiscal advantages


Fund distributed dividends to non-resident investors are tax exempt * (not even withholding tax). The fund capital gains are tax exempt (at the share redemption or fund liquidation). Interests from subsidiaries financing are tax exempt. The distributed dividends from subsidiaries to the fund are also tax exempt. (For residents in countries listed in the Portugal Tax Authority’s “blacklist”: 10% withholding tax).


“PT Co INNOVATION I” FUND (CMVM Registration N. - 1520)

CUSTODIAN BANK MILLENNIUM BCP, S.A. (licensed and supervised by the Portuguese Central Bank)
FUND & COMMITMENT SIZE Maximum FUND Size: € 17.500.000 / Minimum Investor Commitment Amount: € 250.000 (Min. Commitment for “Golden Visa”: € 350.000) / Minimum Investor Commitment Period: 6 Years
FUND TERM Tenth Anniversary (may be extended for several periods)
FUND RETURNS The FUND offers a Fixed Annual Net IRR of 1,5% - Distribution Share Type
INVESTMENT PROFILE Minimum of 60% of the FUND size invested in Portuguese Companies through Mezzanine Loans, secured by Real Assets, Future Revenues or Bank Guarantees.
MANAGEMENT FEES Management Fee: 0,4% p.a. on the size of the Fund (GAV)
OTHER FEES Custodian Fee / Paying Agent / FUND Tax: Estimated 0,2% p.a. on the size of the Fund (GAV)
LIQUIDITY / TRANSPARENCY The FUND is approved and regulated by the Portuguese Stock Exchange Commission (CMVM) Co-investment solutions are not available/applicable for this Fund.
Frequently Asked Questions
What is the Golden Visa?

The Golden Visa is a residence permit for investors of non-EU countries that would like to live, work, stay in Portugal and have access to the Schengen Area.

Which are the advantages of the Golden Visa?

A. No visa is required to enter Portugal;
B. Live and work in Portugal with a minimum stay period of 7 days in the first year and 14 in each block of the following two years;
C. Circulate in the Schengen Area (other European countries which are part of the Schengen Area;
D. Benefit of the family reunion program;
E. Obtain the permanent residency after 5 years;
F. Obtain the Portuguese citizenship after 5 years;

For how long is the Golden Visa valid?

After it is issued it is valid for one year. After the end of the first year it is renewable two times, one after the first year and a second time after the end of the third year.

What are the personal requirements for the investor?

A. Not being an EU, EEA or Swiss citizen
B. Not having been convicted of a crime punishable in Portugal by more than 1 year imprisonment
C. Not having been banned from entering the Schengen Space​

Is it possible to extend the Golden Visa to family members?

Yes. Family reunion is possible. For children older than 18 years it is necessary to proof that they are single, economically dependent from their parents and still studying.

How can the investor and family obtain the Portuguese Citizenship after just 5 years?

Yes. It will though be necessary to prove a certain knowledge of Portuguese.

How much are the costs SEF (Serviço de Estrangeiros e Fronteias) charge as a fee for the Golden Visa procedures?

A. Processing fee (application and renewal) – EUR 523.70 (plus EUR 83.10 per family member)
B. Issuance of the golden visa card – EUR 5,324.60
C. Issuance golden visa for family members – EUR 5,324.60
D. Renewal of golden visa card – EUR 2,666.30

I understand there is a 1.5% guaranteed return, but is that also the maximum return?

Yes, it’s a fixed Annual Return of 1,5% during investment period (6 years). No less, no more.

How long do I have to leave the money in the FUND?

The maturity of the FUND is 6 years.

Are there any costs for the investor related with the investment in the fund?

No. The yearly costs are responsibility of the FUND.

Is it relevant from where the investment in the FUND is done?

Yes. It should come from a Portuguese bank account.

Does the investment of €350.000 include the legal process by the lawyer?

No. A lawyer should be hired for the legal costs.

Does the FUND repay the total amount of €350.000 invested after his maturity?

The repayment is done like in any other fund. There are no formal guaranties.

Is the Fund officially registered?

The investment FUND is registered fully regulated by the Portuguese stock exchange.

What happens in case the fund loses money/value? Will you sell off shares to pay the guaranteed return?

The FUND does not invest all Capital. FUND has a “cushion" in order to secure participants dividends (annual returns) and administration costs.

What if it goes bankrupt by having to pay the guaranteed return?
We don’t anticipate that.

What is one of the GREAT advantages of this fund?

The investor that invests in this particular fund does NOT have to do any tax returns in Portugal.


We provide timely information about the Portuguese Golden Visa Program. Contact us for more information or bookmark our website to visit it whenever you need. We are here to assist you.


This website is operated by a private company not affiliated with any government. The sole purpose of this website is to provide information about the Golden Visa Program in Portugal.

© 2019 Golden Visa Portugal

Information on this website does not constitute legal advice.