I have completed my investment with Optimize using my Self Directed IRA and no LLC. The key factor from the SDIRA side was that the fund is Not Publicly Traded, thus the investment could be made directly. It was important on the Optimize side that the wire transfer included my full name as it appears on their account/GV application. This was an issue as at first the SDIRA sent it out with just my last name as the reference, despite the phone calls and emails from mself and Optimize spoke with them directly explaining the important on the name! (I can tell you more about that nightmare if you wish) However, the process works much the same as conducting a roll-over from one retirement account to another, but of course it is still tied to my SDIRA. Optimize then send the Declaration needed for the GV application. I am not sure that other similar companies can do this portion or not. But this is what made it possible to do it directly, no Portuguese bank account was needed.
So, the questions to ask the SDIRA firms is “Can I make an investment directly (no LLC) into a Non Publicly Traded Fund in Portugal?” In my case Optimize even provided a statement stating this directly to my SDIRA , though it is in their prospectus too, to calm any concerns. Also, apparently not all SDIRA firms can do this, so it is important to ask and establish they can do exactly what you are needing before rolling your retirement to them.
The question to ask the fund manager is Confirm this is Not Publicly Traded, and that they can accept the funds directly from the SDIRA- they have the capacity to act as the bank on the Portuguese side, and that they will issue the Declaration.
Also, I cannot say enough good things about Optimize and the level of service and assistance in general I have received.
Our application was submitted this week.
3 Likes