Portugal's Golden Visa fund route requires a capital transfer of at least €500,000 to acquire qualifying non-real-estate collective investment units. Browse 30 current public profiles by strategy, fees, lock-up, and fund-reported US-person acceptance.
Market universe: 38 open funds · Public directory: 30 profiles · Updated July 2026
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38
Open GV Funds
16
Passed 8-Point Review
July 2026
Last Updated
Public directory
Browse 30 current public profiles from a tracked market universe of 38 open funds. Compare strategy, minimum investment, disclosed fees, lock-up, and manager information on each fund page. A public profile is a research starting point, not confirmation of Golden Visa eligibility or investment suitability.
Private Equity
ActiveCap - Capital Partners
Credit
Finprop Capital, SGOIC, SA
Credit
ActiveCap - Capital Partners
Credit
3 Comma Capital
Other
3 Comma Capital
Private Equity
Explorer Investments
Private Equity
Insula Capital SGOIC
Private Equity
Fortitude Capital
Private Equity
Biz Capital SGOIC
Private Equity
Iberis Capital
Private Equity
Growth Partners Capital, S.A.
Debt
Heed Capital
Crypto
Octanova SCR
Other
IM Gestão de Ativos (IMGA)
Venture Capital
IM Gestão de Ativos (IMGA)
Debt
IM Gestão de Ativos (IMGA)
Other
IM Gestão de Ativos (IMGA)
Debt
IM Gestão de Ativos (IMGA)
Venture Capital
IM Gestão de Ativos (IMGA)
Private Equity
STAG Fund Management
Venture Capital
LXL Ventures
Private Equity
Oxy Capital
Private Equity
New Frontiers Energy Fund
Other
Optimize Investment Partners
Clean Energy
Quadrantis Capital
Private Equity
STAG Fund Management
Private Equity
Saratoga Capital
Private Equity
Quadrantis Capital
Venture Capital
RYSE Asset Management
Venture Capital
Ventures.EU, SCR, SA
Golden Visa fund shortlist framework
Start with fund-route evidence, then compare strategy, total fees, performance disclosure, liquidity, manager records, and investor acceptance. This is a research and client-intake surface, not investment advice or a recommendation to buy, hold, or sell any fund.
| Investor question | How to answer it | Next check |
|---|---|---|
| Verify fund-route evidence | How to answer itConfirm the current CMVM record, Portuguese-law non-real-estate fund structure, maturity of at least five years at the time of investment, Portugal-allocation evidence, and the documents counsel needs for the ARI file. |
Next check
Complete the route-evidence check before comparing projected returns or manager marketing. Fund due diligence checklist |
| Normalize the fund data | How to answer itCompare the same share class, reporting date, currency, gross-versus-net basis, fee definitions, valuation method, and fund term. Do not mix a return objective with audited performance. |
Next check
Build the same evidence sheet for every candidate before drawing a comparison. Fund fact-sheet guide |
| Check manager and governance evidence | How to answer itReview team tenure, realised exits, portfolio concentration, leverage, conflicts, valuation policy, reporting cadence, and the named depositary and auditor. |
Next check
Check current primary documents and the scope of any Movingto verification record. Verification methodology |
| Resolve applicant constraints | How to answer itRecord written answers on minimum subscription, investor acceptance, tax-reporting support, lock-up, redemptions, extensions, and the evidence available for the application file. |
Next check
Compare candidates side by side only after every material unknown is explicit. Compare selected funds |
Golden Visa fund comparison questions
Use the 38-fund market as a starting point, then verify the evidence behind each cost, return objective, redemption term, and investor-acceptance claim.
AIMA's current fund-route checklist sets a capital transfer of at least €500,000 into qualifying non-real-estate collective investment units. A fund's own subscription minimum can be lower; Portuguese counsel should confirm the qualifying total and evidence before subscription.
Separate audited historical performance from manager-stated return objectives. Compare net-of-fee NAV history where available, valuation policy, realised exits, and reporting periods. Targets are not guarantees, past performance does not predict future results, and capital is at risk.
Compare total fee drag, not only the management fee. Subscription, annual management, performance, fund-expense, custody, depositary, audit, redemption, and tax-reporting costs can materially change the net result.
Check the fund term, lock-up, redemption windows, notice periods, gates, suspension rights, extension clauses, and dependence on underlying asset sales. The immigration holding requirement and the date you can recover capital are separate questions.
Only some funds report accepting US persons. US applicants should verify the current manager policy, FATCA onboarding, PFIC or QEF reporting support, and independent US tax advice before subscribing. Movingto does not verify US-person acceptance.
No. Regulation and verification can improve disclosure and legal-readiness checks, but they do not guarantee eligibility, liquidity, returns, capital preservation, or suitability. Review the fund documents with qualified legal, tax, and financial advisers.
How the route works
The immigration mechanics behind the fund list: what qualifies, what the permit asks of you, and where it leads. General information, not legal advice.
The current capital route is at least €500,000 into qualifying non-real-estate collective investment units regulated by the CMVM. Qualifying funds need a maturity of at least five years and at least 60% invested in Portuguese companies, and the investment must be held for at least five years.
The stay requirement is roughly 7 days in the first year and 14 days in each subsequent two-year period. The Golden Visa is built for residence optionality: no relocation is required to keep the permit.
Permanent residency is possible after five years. Under Lei Orgânica n.º 1/2026 (in force 19 May 2026), naturalisation takes 7 years for EU and CPLP nationals and 10 years for other nationals, generally counted from the issuance of the first residence permit. Confirm your own timeline with Portuguese counsel.
No. Law 56/2023 removed the real-estate and capital-transfer routes in October 2023, and qualifying funds cannot hold real estate directly or indirectly. Investors who arrive with a property plan usually translate it into a fund strategy instead.
The usual path: obtain a NIF and a Portuguese bank account, prepare source-of-funds evidence, subscribe the fund and keep the transfer proof, file the ARI application with AIMA, then attend biometrics. Processing backlogs are real, so plan the timeline early.
Budget for AIMA application and card fees per family member, legal and advisory costs, and the fund-level fees that vary widely between vehicles. Fee drag is the largest controllable cost in the route.
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, fund-route evidence, and consistency of disclosed terms. It is a transparency and legal-readiness check — not an investment recommendation.
Immigration Lawyer — Funds & Real Estate
OA #67185P
Bar Licence: 67185P
Portugal Golden Visa funds that have passed Movingto's 8-point legal review, conducted by licensed Portuguese lawyers.
ActiveCap - Capital Partners
€100,000
10 years
Mgmt: 2% | Perf: 20%
Finprop Capital, SGOIC, SA
€200,000
5 years
Mgmt: Not disclosed | Perf: Not disclosed
ActiveCap - Capital Partners
€100,000
Not disclosed
Mgmt: 1.5% | Perf: None
Direct answers on the €500,000 fund route, fees, performance, liquidity, risk, and US-person acceptance
They are units in non-real-estate collective investment undertakings established under Portuguese law that may be used for Portugal's ARI fund route when the legal requirements and evidence are met. AIMA's current checklist includes a capital transfer of at least €500,000, at least five years of maturity at investment, and at least 60% invested in Portugal-headquartered commercial companies. Portuguese counsel should confirm the fund and applicant file before subscription.
The current fund-route threshold is a capital transfer of at least €500,000 for the acquisition of qualifying fund units. An individual fund may advertise a lower subscription minimum, but that does not reduce the ARI investment threshold. Confirm the current rule, fund structure, and evidence package with Portuguese legal counsel before moving capital.
Movingto Funds lists current public fund profiles in one directory. Compare fund-route evidence, strategy, concentration, manager disclosure, total fees, audited performance where available, fund-stated return objectives, lock-up and redemption terms, and fund-reported investor acceptance. Then have qualified advisers review the documents and your circumstances before subscription.
The directory labels funds that report accepting US persons. This is self-reported by each fund, not verified by Movingto, and can change by manager, custodian, share class, or onboarding capacity. US investors should confirm the current policy, FATCA onboarding, PFIC or QEF reporting support, and tax consequences with the fund and independent advisers.
Compare the complete cost stack: subscription or entry fees, annual management fees, performance fees and hurdles, fund expenses, custody and depositary costs, audit and legal costs, redemption fees, and tax-reporting costs. Verify every figure against the current official fund documents and share class.
Separate audited historical results from manager-stated return objectives. Check whether figures are gross or net of fees, the reporting period, valuation policy, realised exits, distributions, and whether you are looking at the same fund and share class. Return objectives are not guarantees, past performance does not predict future results, and capital is at risk.
Terms vary by fund structure. Review the fund term, lock-up, redemption windows, notice periods, gates, suspension rights, extension clauses, secondary-transfer rights, and dependence on underlying asset sales. The ARI holding requirement and the date on which a fund permits capital to be returned are separate questions.
No. Regulation and Movingto verification can support disclosure and legal-readiness checks, but neither guarantees Golden Visa eligibility, returns, liquidity, capital preservation, or suitability. No badge replaces review of the fund documents by qualified legal, tax, and financial advisers.
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