Portugal Golden Visa Funds for US Citizens (2026)
A shortlist and directory view of funds that accept US persons (where confirmed). Filter by fees, strategy and liquidity terms, with US-eligibility notes and sources where available.
What "US person eligible" means here
- Confirmed by documentation: Status is based on fund/manager documents or written confirmation we have collected.
- Subject to change: Eligibility policies can change. Always verify directly with the fund before subscribing.
- Not advice: This is not investment, legal, or tax advice. Consult qualified professionals.
Movingto Funds is a directory and comparison platform. "US person eligible" reflects collected disclosures or confirmations and may change. This is not investment, legal, or tax advice. Verify in official documents.
Confirmed US-eligible funds
Horizon Fund
Octanova SCR
Mercúrio Fund II, FCR
Oxy Capital
Ventures.eu Fund I
Ventures.EU, SCR, SA
Pela Terra II Regenerate Fund
STAG Fund Management SCR S.A.
3CC Portugal Golden Income Fund
3 Comma Capital
Flex Space Fund
Insula Capital SGOIC
Portugal Investment 1
Saratoga Capital
Digital Insight Fund
Insight Venture - Sociedade de Capital de Risco, S.A.
BlueWater Capital Fund
Insight Venture - Sociedade de Capital de Risco, S.A.
Portugal Liquid Opportunities, FCR
Oxy Capital
Global European Cinema Fund (GECF)
Quadrantis Capital
Crown Investments Fund
Insight Venture - Sociedade de Capital de Risco, S.A.
Common friction points for US investors
Extra Paperwork
US persons typically need to provide W-9 forms, proof of taxpayer status, and enhanced AML/KYC documentation that non-US investors may not require.
Some Managers Are Cautious
Due to regulatory complexity, some fund managers prefer not to accept US investors. However, options exist for those who do accept US persons.
Longer Timelines
Expect longer processing times for subscription and onboarding. Additional compliance checks for US persons can add weeks to the process.
US tax topics to discuss with your advisor
Tax complexity varies by situation
US tax treatment of foreign investments can be complex and varies significantly based on your individual circumstances, the fund structure, and how the fund is classified for US tax purposes.
PFIC Considerations
PFIC (Passive Foreign Investment Company) is a commonly discussed topic. Some funds offer QEF elections that may affect tax treatment. The specifics depend on your situation.
Professional Guidance
Before investing, speak with a US-qualified tax professional who understands foreign fund investments and FATCA reporting requirements.
This section is informational only and does not constitute tax advice. Tax laws change frequently and their application depends on individual circumstances.
FAQs for US citizens
Some Portugal Golden Visa investment funds (Golden Visa funds) accept US citizens, and some don't. The limiting factors are usually U.S. compliance requirements (FATCA), a fund's internal policy, and whether their service providers are set up to onboard "U.S. persons." The only way to know is to confirm the fund's US-person policy before you start onboarding.
FATCA (Foreign Account Tax Compliance Act) is a U.S. reporting regime that requires many non-U.S. financial institutions to identify and report certain information about U.S. account holders/investors. In the context of Portugal Golden Visa investment funds, FATCA can add extra onboarding steps (forms, declarations, reporting classifications) and it's one reason some Golden Visa funds choose not to accept U.S. persons.
US citizens investing in Golden Visa funds are commonly asked for extra compliance and tax documentation. Exact requirements vary by fund administrator and bank.
- W-9 (U.S. taxpayer identification form)
- Proof of TIN/SSN
- FATCA self-certification / U.S. person declarations
- More detailed source-of-funds evidence (bank statements, sale contracts, dividend statements, etc.)
- Sometimes additional KYC around address history and tax residency
No. Returns are not guaranteed for Portugal Golden Visa investment funds (Golden Visa funds). Funds can go up or down, and liquidity can be limited. Anyone implying guaranteed returns is a red flag—use the fund's official documents and independent advice instead.
Many Golden Visa funds are not liquid like public ETFs. Some funds are effectively held until maturity/exits. Always read the terms—"typical" varies a lot.
- Lock-ups (periods where you can't redeem)
- Redemptions only on specific windows (quarterly/annual) with notice periods
- "Best efforts" liquidity, gates, or limits on how much can be redeemed at once
Treat eligibility as a legal confirmation, not a marketing claim. To verify a Portugal Golden Visa investment fund:
- Confirm the fund is structured as an eligible Golden Visa fund for the program route you're using
- Ensure the subscription documents and proof-of-investment package meet what your lawyer needs for the application file
- Have Portuguese legal counsel confirm eligibility before you wire funds
PFIC stands for Passive Foreign Investment Company—a U.S. tax classification that can apply to many non-U.S. pooled investment vehicles. If a fund is a PFIC for U.S. tax purposes, it can trigger complex U.S. reporting and potentially unfavorable tax treatment unless handled correctly (and elections/reporting may be required). This is why US citizens should speak to a U.S. tax advisor before investing in Portugal Golden Visa investment funds.
Before investing in Golden Visa funds, US citizens should typically speak to:
- Portuguese immigration/legal counsel (Golden Visa eligibility + application strategy)
- A U.S. tax advisor (PFIC/FATCA implications, reporting, elections)
- An independent financial advisor (risk, liquidity, suitability)
Need help comparing options?
Use our comparison tool to see funds side-by-side, or try the Fund Matcher quiz to find options that fit your preferences.