Portugal GV Fund Comparison?

Good Day,

Thank you for your excellent analysis of the 4 funds. Can you share which one you finally chose and why?

There seems to be a lot of uncertainty of open-ended funds such as IMGA or BPI and whether they would actually qualify for the GV applications. Does anyone have experience actually getting an approval with these funds? My lawyer says this is risky but if anyone can share a precedent it would be very helpful! Thank you.

My lawyer says there should be no problem, and a few others have said that they’ve gotten approval using IMGA

Please send the information, it would be very helpful! Thank you!

@ahubsch did a good writeup on their process, I’m more or less following in their footsteps

A post was split to a new topic: Applying for GV via a fund route without prior entry to Portugal?

Yes, it works. I got my investment in BPI fund pre-approved.


Great! Thank you for sharing this! I am curious if you know whether the value of the fund is taken based on the initial investment or at the market value - what if 350 000 invested goes down to 349 000, will this mean that the amount invested no longer satisfies the requirement?

Its always your initial investment. So if you invest EUR350k and after 2 years (lets say) it goes down to EUR300k due to market movements, you will continue to qualify to renew your PGV without the need to recapitalise your account.

What I am unsure of is, if your EUR350k investment increases to EUR400k, if you can take out EUR50k and still remain eligible. No plans on my end to do so, but just curious :slight_smile: .

They approved us using the IMGA fund. It is a valid fund.

Thank you very much to everyone for sharing your experience with the IMGA fund!

I’m wondering what banks did you use? A few people here commented on using Bison Bank but for us unfortunately it’s a no go for a certain specific reason. Does anyone has experience buying this fund through other banks? How is the process like? Thank you!!

Has anyone invested in MedCapital? Their business model looks interesting, appreciate any insights!

Quick update - just spoke with Rock Capital. They just closed their subscription about 2 weeks ago due to “overwhelming interest from the investors”. This was one of our top choices and was quite disappointing. Could someone please update the spreadsheet?

Any similar funds you could recommend? Thank you!

Hi Sergio,

You can send me a message thru the form here: Verified User

Hi Matt @mmd, did you end up investing in MedCapital? How was your experience like? Thank you for sharing!

Hi @dak , did you end up investing in MedCapital? How was your experience?

Hello - quick update. I’ve submitted all my paperwork exactly 10 weeks ago (invested on Greytech II). I’ve received a message this week from the lawyers that my documentation was pre-approved, investment is according to the rules, etc. Next step will be to go to Portugal for the fingerprinting, etc.
So everything moving according to plan. According to the lawyers, the schedules were open for bookings in Oct and Nov. They may open again soon for bookings in Dec. Limited spots, apparently.
Nevertheless, no complaints: Bison Bank was very helpful, the team at Iberis (Greytech II) as well, and the lawyers made sure that all documents were ready and according to the GV rules. So far, so good.

A post was split to a new topic: Webinar: Insider hacks to speed up your 2021 Portugal Golden Visa application (Pela Terra)

Answering a few questions here:
. Legal firm: Legal Square, in Lisbon
. Why Greytech II: I saw several people vouching for them, then I decided to check their structure, companies, etc. Had a couple of calls with them, including with one of the partners, and felt it was a good option. Then I spoke with the lawyers, who told me that they were used to Iberis and that the investments would fit the GV rules without problems, then I made the move.
For the records, I was planning to invest on something else related to real estate (another company that usually appears here), but I felt that their pitch was more of salespeople than investors (gut feeling, not scientific), and I lost the interest on them. Could have been a better $ option? Who knows. But so far, knowing that the process is moving well, I’m fine. I’m less interested in making money, and more interested in getting the GV and later on the citizenship.


Hi All,

Some lawyers told me that even if you get approved for IMGA or BPI there is a concern that you will face issues in renewal. Anyone heard something similar? Did you ask your lawyers this question? Most of the lawyers I spoke to seem concerned that open funds are non-complaint and if someone complaints later they may reassess and refuse to renew.

Not sure how valid are these statements.