Portugal Golden Visa Guide: Pros & Cons in 2024 – Nomad Gate

That number is probably due to SEF being slow to issue GV permits, and probably way below the number of GV investors opting for the (still) relatively new GV route last year.

I am building a small, luxury, eco and healthy lifestyle, boutique hotel in Portugal, right on the coast, 50min from Lisbon airport. I am interesting to find co-investors, which will also qualify for the Golden visa program thru this investment. We are in the phase of finalising all specialisations projects, obtained the building permit. If anyone is more interested can share more information.

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Thomas, let me add some numbers to said words:
Here you can download PDF with rules of newly created Forest Fund under management of LYNX Assets Managers.
Page 33 shows (as some kind of disclosure) basic information about other funds managed by LYNX.
NEST Capital is one of them and we can see that only 3 (three!) subscribers were participating there as of July 31, 2019. By the way, Net Asset Value of the fund assets was 1.013.448,- EUR that day.
We can guess that it was 3*350k = 1.050.000,- EUR initially invested.
So, it seems that each investor already has a loss of 12.184,- EUR - only in one and a half year from fund inception. And here is long way down to fund termination date.
Those three guys will pay for years - management fees, depository fees, regulator fees, etc.
Of course, it is possible for LYNX team to invest 1 million euros profitably, but probably it won’t be the picture painted in advertising booklet…

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I believe the NEST fund only started fundraising a short time before then (in May), and by far most investors have joined in the last few months—so looking at the stats from July doesn’t really make sense. You should look at how much they raise by the end of the subscription period (April this year).

Also there are of course costs associated with setting up the fund, so about €35K loss (for the fund as a whole) from the beginning to cover costs also makes sense. The loss you see in July isn’t from any loss on the investments of the fund. I’m not even sure if they had acquired their first asset at that time.

Anyway I will have several updates on the investment fund front in a week or two. I’m currently on the ground in Portugal trying to get a much more complete picture of what’s available for GV investors. There are several interesting options coming up, with a varied mix of funds, including funds focusing on real estate companies, venture capital and more traditional private equity funds. Many of the largest and most respected fund managers in Portugal either already accepts GV investors in some funds, or are in the process of launching such funds.

Many funds are also not specifically targeted at GV investors, meaning they already have tens of millions of euros raised from other investors.

With the latest news about the direct real estate route potentially being closed in metro Lisbon and Porto I think we’ll see even more GV investors opting for funds going forward.

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Hi Folks - Tinus here from South Africa

Could you elaborate @tkrunning on what you mentioned in your last post about the real estate options for GV in Lisbon and Porto metros being closed?

Thanks

Yes, please tell me more.

Can anybody comment on these fees from La Vida Golden Visa ?
Are there government fees for each next year valid?

Also, can anybody confirm is https://www.goldenvisas.com/ legit company?
Is there a “reduced golden visas” program really working?

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Hi Miki,

it is our family/friends investment. We already have a house and visit Portugal regularly. And we bought the land in front of us 1,5h with the intention to not let anyone to build and spoil our ocean views. Then the municipality offered us to build a sustainable, eco, lifestyle boutique hotel, the area is underdeveloped but beautiful. Thanks to the landscape inclination the hotel is invisible from the top. Currently we are finishing with the building approval and we might need a couple of co-investors. We will operate the hotel ourselves. If you send me your e-mail I would share more with you and we can have a chat.

Best,
Nikos

This is still in discussions, will come back to the parlament in February. Overall a smart step. There are underdeveloped areas in the country which will benefit more from the scheme but are also extremely attractive for investing. We are building our hotel in an agricultural area, right on the ocean, only 50min from Lisbon airport. And this will still qualify…

Did you find more information on any of these funds? Going with this option would have been the best of the pack, but security of investment trumps every other consideration for me.

Don’t worry, your investments in funds will be absolutely secure. For many years.
The question is how much of them you will get back. And when.

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Ha ha, I would expect to get all my investment back after 5/6 years if it “will be absolutely secure” like you wrote. Or did you mean that I may or may not get back all the funds invested after a couple of years?

How can you get your money back in 5 or 6 years if fund’s term is, for example, 10 years? Who will buy from you?
Management company is not legally obliged to do it…

No, you’d have to find a buyer yourself, most likely (in the case it’s a 10 year fund). Some funds that target GV investors are set up for 6 or 7 years, or have some sort of exit option after ~6 years (sometimes at a cost).

Also there are a couple of funds I know that are planning to list on Euronext in Lisbon at some point in the next few years to make it easier to sell your investment (although probably on Euronext Access, meaning the liquidity isn’t necessarily that high).

Bottom line: It’s a valid concern and something you should discuss with the various funds before deciding to invest.

You captured the very essence of my inquiry, one of the funds provided 3 exit strategies but that is after the 6th year. I still wanna know how safe my investment would be in 6th year time.

I have not been lucky to find an investment advisor that could provide guidance on the path to go, do you have a recommendaton?

One of the key benefits of the thoughts to go this route is liquidity, security of investment tops the list. Or perhaps, will wait it out and proceed with whatever is on the table when the dust of the new legislation clears up.

Hi Thomas

Just reading through the requirements list for the Application via the 500k route and am wondering if you can clarify what is meant by the following:

  • evidence of entry and legal stay in the National Territory - is this a normal 90 days in six months automatic visa (for Australians) when one is buying the property or when one is turning up for the interview or when in particular ?

  • health insurance - does that have to be for a full year - when you might only be staying the minimum 7 days in the first year ? Or is it for when you are completing the interview etc. - say 6 months ?

  • criminal record application form - is that on the SEF application site & just requiring to be filled out ?

  • likewise the “Sworn Statement” ?

  • likewise the “evidence of negative debt tax obligations” - Assume that is for Portugal and how does one get that ?

Thanks a lot for your help.

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@Edward43 have you come across anyone?

@thinktwice are you able to give us an update on how your progress has gone? I’ve done biometrics in June 2019, currently in March 2020 and still no card… or any update as to when. Just get told to wait…

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@Zayd_Khoury out of interest can you tell me how long you’ve been waiting? I’ve been terribly frustrated with the waiting game, i’m going on 9 months and still no residency card and seems ongoing issues with the ‘SEF’. Always wanting new documents or more documents, laywers dont seem to know whats happening or perhaps jut not very good at keeping clients updated. But perhaps this is how long it all takes in Portugal.

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Will there be any interest in those 5 years ? Thanks