As long as you do not trade in and out of your original position (e.g. buy 1000 shares, hold 1000 shares for N years) you should be fine. If you touch the shares then you probably have issues.
Hi Jeff
Thank you,
Where did u get this kind of information?
I feel āOpen Fundsā are not popular because of less commission for the agentsā¦
Well it only makes sense I guess as after all you did invest 350k+ in Portuguese economy, and should not be punished for the markets crashing (as long as you donāt sell).
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Yes, it needs confirmation by lawyer.
I have ask BPI, they also not sure.
I hope people in here can share their experiences
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would you be so kind and share contact information for the lawyer or legal service that handled your GV application with that specific investment option? I already have millennium bank account, can I subscribe to the fund through this bank?
I tried to find good lawyers on the internet and communicate with them but somehow they seems uninterested as they are not getting back to my.
Pleaseā¦your help is very much appreciated
would you be so kind and share contact information for the lawyer or legal service that handled your GV application with that specific investment option? I already have millennium bank account, can I subscribe to the fund through this bank?
I tried to find good lawyers on the internet and communicate with them but somehow they seems uninterested as they are not getting back to my.
very much appreciated
Many entities in Portugal do not respond well to email. It appears to be cultural. You are better off sometimes just making phone calls.
Millenium is as of last report not FACTA compliant for the purposes of holding participation units or shares of funds, if you are subject to US tax laws. Otherwise they are probably fine.
If you are not a US person, the same MillenniumBCP account you have opened can hold your fund participation units. However, the subscription through the bank or not, it is dependent on whether the fund is distributed by it.
Hi Aditya, I am looking at this fund but havenāt been able to find the contact at the bank. Could you share the bank contact details for the bank. Do you know anyone else who has been approved with this fund. There are Posts for people who say they have been approved with IMGA but I havenāt found any on the BPI fund, although they are very similar.
Iām also searching for similar information, Jonathan.
The ability to sell the open ended funds is a huge benefit if things go awry with the Golden Visa program, such as the EU pushing back on Citizenships.
Iāve reached out to Bison on the IMGA fund; if it can support QEF election, that would certainly be beneficial. That said, I guess I could live with Mark-to-Market taxation.
I have contact for BPI RM, and their lawyer, if anyone need it, you can PM me.
unfortunately, I have to postpone my application until next year.
If you guys have update, please share here 
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> The information you have regarding the fund dropping is not correct.
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> Once you invest the minimum amount 350.000ā¬, youāll buy with this amount a number of participationās.
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> Example: 350.000ā¬ = 1000 participationās in the fund.
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> Even if the fund value drops, what counts for the immigration office is the number of participationās you have through out the program.
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> So itās not correct that what counts is the minimum amount all the way.
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> Funds are volatile, so if course the value of each participation will vary.
I think it is clear, their lawyer confirm like this
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Hi Aditya, I would be grateful to you if could you share contact number and email address to start a communication with BPI bank to invest in thier fund.
Thanks
Sure, just sent you a PM.
Hi Aditya - thanks so much for sharing! I will also PM you for your contact at BPI if that is ok.
Hi Aditya ā same request as the othersā¦ please send me the details of your contact for the BPI FIAA fund. Many thanks
Wasnāt impressed with Adityaās contact at BPI bank.
Great it worked for him and I was grateful for the details, but clearly there was zero interest from that BPI contact to onboard a new client.
He never responded in time, constant reminders after he didnāt bother to reply in 7 days time, never available to reach by the phone. I went to the lengths of submitting all documents, apparently passing through the compliance but at the final step he has disappeared again for weeks and I realized enough is enough.
Opened account with Millennium BCP instead for purchasing IMGA fund.
Also, account manager on my āprestigeā account (15 EUR /month fee) is neither interested to āmanageā and itās also almost impossible to hear back from him. Constant excuses.
Very degrading service at those high street banksā¦
I should have chosen Bison I guess as they were much faster in initial talks and straight to the point.
No complaints with Bison so far, Nuno is fantastic and very responsive. They are closed for new accounts for the rest of the year though it seems - they said 250 new accounts in the queue right now, which doesnāt seem like a lot but apparently they have a lot of manual verification and such to do.
Welcome to Portugal! Get used to it!
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I agree. Apart from Nuno and some folks (may be in the whole of Portugal 
) , Iāve seen similar responses from others. They would disappear for days without response. They would come back and apologize, again disappear. Itās baffling to me. Is there a name for this behavior in Portugal?