Changing investment for the GV?

I had my biometrics for the GV back in October of 2022 after applying in early 2021. I’m still waiting for final approval. I’ve invested money into a real estate fund.

The problem is in the time it’s taken to process this I’ve had my personal situation change; I’m now looking at buying some property to live in the next year or two rather than in four or five years. Is there a way, post-approval, to move my investment into a property?

I dont know, but I would ensure there is notable overlap in investments if you decide to do it. Don’t cash out the fund then buy the house; buy the house then cash out the fund a month later or something.

(money being unlimited, of course!)

This thread is relevant, and the answer /advice appears to be negative.

From what I’ve read and heard elsewhere you can switch within the same category (e.g. move from one fund to another), but not move categories.

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Thank you for your insight. Could you provide sources of this data. I am quite dissatisfied with my current fund and I want to change it or withdraw part of my investment and put it into another eligible fund in order to diversify my risks.

In the link posted by Onward above, Tommy quotes from the SEF manual, and I mention Dec Reg 84/2007 Article 65 et seq, both of which suggest that the original investment has to be maintained.

In the same thread, though, Thomas says (and others on this site agree) that lawyers seem generally to think a same-category switch is OK.

I think that’s all the data we have - I certainly wouldn’t recommend switching your investment without clear legal advice (and ideally a letter from AIMA) confirming that this won’t jeopardise your status.


I see, thanks a lot. The letter from AIMA definitely has a sense. But may be there have been precedents of such switches? I guess it might be a hot issue because the process of getting PT citizenship is fairly long, therefore some funds likely demonstrate poor results in the long run and participatns’d better find alternative ways to protect their investments, right?

I don’t have any data other than what lawyers have said. However, what they’ve said hasn’t so much been about switching mid-way through, but more about what the solution might be should a fund someone has invested in be dissolved prior to some investors in it having received their citizenship. I’ve heard lawyers and managers talk about a solution being to move in to another fund, as the lawyers’ interpretation is that’s allowed.

I assume you’re in one of the open-ended funds then, if you’re considering switching?

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I’m curious, how would you pull out, does your fund allow it? I have assumed there really are no buyers for these fund interests given the proliferation of funds and the fact that they all seem to be constantly fundraising and thus wouldn’t want you taking away other investors by virtue of selling your interest directly to someone else.

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Correct. I am in one of them (ended-open) . There are only few funds with this option. Anyway, even those with fixed period have a minimum sum to invest. So, technically, investors can diversify their risks at the initial stage. However, people mainly prefer to put all money in one basket due to possible additional complications.

Hi my fund investment management is margining two realstate fund into one .I check with lawyer and fund .They both inform me that it will not effect my GV

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