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Compare 35 CMVM-Regulated Portugal Golden Visa Funds

Find suitable funds by strategy, amount, lock-up, and US eligibility — then request an introduction to the fund manager.

Covering all 35 CMVM-regulated funds

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35

Indexed Funds

17

Passed 8-Point Review

May 2026

Last Updated

Portugal Golden Visa fund comparison

Quick answers before you compare 35+ Golden Visa funds

Movingto Funds is the canonical comparison page for Portugal Golden Visa funds. Use these answers to shortlist funds, then verify eligibility, fees, and legal evidence before subscription.

Best Portugal Golden Visa funds in 2026

There is no single best Portugal Golden Visa fund. A credible shortlist starts with fund-route eligibility evidence, manager transparency, strategy fit, total fees, liquidity terms, and whether the fund accepts your investor profile.

Safest Portugal Golden Visa funds

No Golden Visa fund is risk-free. The safer end of the market usually means clearer CMVM-regulated structure, independent depositary and auditor evidence, conservative strategy, transparent fee terms, and documents your lawyer can verify before subscription.

Compare Portugal Golden Visa funds

Use this page as the starting point to compare Golden Visa funds by strategy, risk profile, target return, fees, lock-up terms, redemption mechanics, manager disclosure, and US-person eligibility.

Which Portugal Golden Visa funds accept US investors?

Only some Portugal Golden Visa funds accept US persons. US applicants should check FATCA onboarding, PFIC reporting support, fund-manager policy, and separate US tax advice before subscribing.

Portugal Golden Visa fund fees compared

Compare total fee drag, not only management fee. Subscription fees, annual management fees, performance fees, fund expenses, redemption fees, and tax reporting costs can materially change the net outcome.

The Verification Standard

Every fund in the Movingto Verified Fund Index has passed an 8-point legal review. Verification covers CMVM registration, fund structure, custodian and auditor arrangements, Golden Visa eligibility documentation, and consistency of disclosed terms. It is a transparency and legal-readiness check — not an investment recommendation.

Lead Verifier
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David Simões Fitas

Immigration Lawyer — Funds & Real Estate

OA #67185P

Bar Licence: 67185P

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Inês Cabral Almeida

Independent Immigration Lawyer

8+ years experience

Bar Licence: 61676P

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Paulo Moura

Immigration Lawyer (Portugal)

MSc Forensic Legal Sciences

Bar Licence: 71517P

Movingto Verified Fund Index

Portugal Golden Visa funds that have passed Movingto's 8-point legal review, conducted by licensed Portuguese lawyers.

View the full index
Verified
Verified 61d ago

PEEIF III - Portuguese Energy Efficiency Investment Fund III

Quadrantis Capital

Min investment

€100,000

Lock-up

10y

Fees

Mgmt: 2.5%  |  Perf: 30%

Verified
Verified 33d ago

New Frontiers Energy Fund II

New Frontiers Energy Fund

Min investment

€100,000

Lock-up

7y

Fees

Mgmt: 1.5%  |  Perf: 25%

Verified
Verified 61d ago

QUADRANTIS PRIVATE EQUITY II

Quadrantis Capital

Min investment

€100,000

Lock-up

10y

Fees

Mgmt: 1.5%  |  Perf: 20%

Verified
Verified 8d ago

Horizon Fund

Octanova SCR

Min investment

€100,000

Lock-up

5y

Fees

Mgmt: 2%  |  Perf: 20%

Verified
Re-attestation due in 22d

Mercúrio Fund II, FCR

Oxy Capital

Min investment

€100,000

Lock-up

8y

Fees

Mgmt: 2%  |  Perf: 20%

Verified
Re-attestation due in 22d

Lince Yield Fund, FCR

Lince Capital, SCR, S.A.

Min investment

€100,000

Lock-up

6y

Fees

Mgmt: 2%  |  Perf: 20%

Verified
Verified 61d ago

3CC Atlantic Bond Fund

3 Comma Capital

Min investment

€100,000

Lock-up

Not disclosed

Fees

Mgmt: 1.5%  |  Perf: 10%

Verified
Verified 12d ago

Capital Green III – Fundo Fechado de Crédito

Finprop Capital, SGOIC, SA

Min investment

€200,000

Lock-up

5y

Fees

Mgmt: Not disclosed  |  Perf: Not disclosed

Verified
Re-attestation due in 17d

Heed Top Investment Fund

Heed Capital

Min investment

€100,000

Lock-up

Not disclosed

Fees

Mgmt: 1.5%  |  Perf: 20%

Verified
Verified 33d ago

Greytech III Fund

Iberis Capital

Min investment

€100,000

Lock-up

10y

Fees

Mgmt: 1.75%  |  Perf: 22.5%

Fund managers

Explore managers and the funds they run.

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IM Gestão de Ativos (IMGA)

portugal

6 funds listed

View Manager

Quadrantis Capital

Portugal

4 funds listed

View Manager

Lince Capital

Portugal

3 funds listed

View Manager

3 Comma Capital

Portugal

2 funds listed

View Manager

STAG Fund Management

Lisbon, Portugal

2 funds listed

View Manager

ActiveCap - Capital Partners

Portugal

2 funds listed

View Manager

New Frontiers Energy Fund

Portugal

1 fund listed

View Manager

Octanova

Portugal

1 fund listed

View Manager

Oxy Capital

Portugal

1 fund listed

View Manager

Finprop Capital

Portugal

1 fund listed

View Manager

Frequently Asked Questions

Quick answers about Golden Visa funds and the Portugal Golden Visa fund route

There is no single "best" Portugal Golden Visa fund in 2026. The right shortlist depends on fund-route eligibility evidence, strategy, manager transparency, total fees, liquidity terms, risk profile, and whether the fund accepts your investor profile. This page organises funds by disclosed characteristics so you can compare them before legal and tax review.

Portugal Golden Visa investment funds (often called Golden Visa funds) are regulated Portuguese investment funds that investors can subscribe to as part of the Portugal Golden Visa "fund route." Instead of buying property, you invest in fund units and use the subscription documents as part of your Golden Visa application file. Eligibility depends on the fund's structure and documentation, so it must be confirmed by Portuguese legal counsel.

Funds listed on Movingto Funds are presented as Portugal Golden Visa investment funds based on manager disclosures and available documentation. However, Golden Visa eligibility is a legal determination, and your Portuguese lawyer should confirm eligibility for your specific case before you invest. If you request an introduction, we can connect you with the fund manager and our Portugal Golden Visa legal team to confirm requirements.

The commonly referenced minimum for the Portugal Golden Visa fund route is €500,000 invested into qualifying Portugal Golden Visa investment funds (Golden Visa funds). A fund's own subscription minimum may be lower, but that does not reduce the route threshold. Requirements can change and may depend on your legal approach and the fund's subscription terms, so confirm with Portuguese legal counsel before proceeding.

No Portugal Golden Visa fund is risk-free. Safer fund diligence usually means checking CMVM-regulated structure, independent depositary and auditor evidence, transparent fund documents, conservative strategy, realistic liquidity terms, and legal review of the Golden Visa eligibility evidence before subscription. Regulation reduces but does not eliminate investment risk.

The Verified Fund badge indicates that a fund has completed Movingto's 8-point legal review. This includes confirmation of active CMVM registration, custodian and auditor arrangements, Golden Visa eligibility, and review of key fund documents. Verification confirms disclosed facts and does not constitute an endorsement or suitability assessment.

Several CMVM-regulated funds accept US persons and are structured to support FATCA onboarding and PFIC reporting, but acceptance varies by fund manager. US investors should verify US-person policy, PFIC reporting availability, and tax consequences before subscribing.

Compare Portugal Golden Visa funds by investment strategy, fund-route eligibility evidence, total fees, lock-up period, redemption frequency, manager track record, regulatory documentation, risk level, and US-person eligibility if applicable. Shortlist funds first, then have a Portuguese lawyer review the fund evidence before subscription.

Use the Portugal Golden Visa fund fees page to compare the fees that affect net outcome: subscription or entry fees, annual management fees, performance fees, hurdles, catch-ups, fund expenses, custody or depositary costs, audit costs, legal costs, and exit or redemption fees. Always verify fee terms against the official fund documents.

Many Portugal Golden Visa investment funds have lock-ups and limited redemption windows, especially if the strategy is private equity/venture/debt. Some funds allow redemptions only after a minimum period; others rely on fund maturity and asset sales. Always check: lock-up length, redemption frequency, notice periods, gates, and whether liquidity is "best efforts."

This depends on the fund structure. Open-ended funds typically allow you to redeem your investment after the lock-up period ends, subject to the fund's redemption schedule (monthly, quarterly, or annual). Closed-end funds distribute capital when underlying investments are exited, which may extend beyond the initial term. In both cases, your Golden Visa residency permit is renewable independently of the investment outcome.

Investing in Golden Visa funds typically involves onboarding/KYC, signing subscription documents, transferring capital, unit issuance, and obtaining proof of investment for your Portugal Golden Visa file. Timelines vary by bank/KYC complexity and fund processes, but a realistic expectation is weeks rather than days.

Movingto is not a regulated investment advisor. We may receive a referral/introductory commission from some fund managers if you invest, and we may also earn fees for legal or support services if you engage our team. We disclose this clearly, and we do not provide investment advice. Our role is to help you compare Portugal Golden Visa investment funds (Golden Visa funds) and connect you with the right people to complete the process.

Click Request introduction on any fund page or use the homepage form. Tell us your timeline, citizenship, and general preferences (risk, liquidity, strategy). We'll connect you with the fund manager and—if you want—our Portugal Golden Visa legal team to confirm eligibility and next steps.

No. Movingto Funds provides information and introductions for Golden Visa funds and Portugal Golden Visa investment funds. We do not provide investment advice or recommend that you invest in any specific fund. Always obtain independent financial advice and Portuguese legal advice before investing.
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