Portugal Golden Visa Fund Fees (2026): Real Ranges, Total Cost Framework, and How to Compare Funds
See typical fee ranges across eligible funds, estimate your "all-in" cost, and understand what's missing when documents don't disclose it.
Portugal Golden Visa fund fees typically include a 1-2% annual management fee, with some funds also charging performance fees (carry), subscription fees on entry, and redemption fees on exit. Total costs vary significantly depending on the fund's structure and what it discloses.
- --This page standardises fee data across all eligible funds using primary documents (prospectus, KID, audited reports).
- --Updated on a recurring schedule and when fund documents change.
- --Does not include legal fees, FX costs, taxes, or adviser fees -- only fund-level charges.
Fund Fee Comparison Table
Each fee cell shows whether the value is disclosed in primary fund documents. Disclosure grade reflects how many fee categories are clearly stated.
36 funds shown. All-in estimate assumes a 6-year holding period. Performance fee modeled at 50% of stated rate as a rough scenario.
Total Cost Framework Calculator
Estimate your all-in fund-level costs based on disclosed fee data. This is an educational estimate, not a quote.
Select a fund to see the cost estimate.
What's not included
Legal and application fees, FX conversion/spread and bank transfer fees, taxes, adviser/intermediary fees, opportunity cost, or any costs not disclosed in primary fund documents.
How to Compare Fund Fees
Fees are only comparable when the same categories are disclosed. Use these checklists before shortlisting any fund.
Key takeaways
- -- Fees are only comparable when the same categories are disclosed.
- -- Performance fee structures vary and can be misleading without hurdle/high-water mark details.
- -- One-off fees (subscription/redemption) can matter more than small annual fee differences.
- -- Missing disclosures are a risk signal -- not a neutral omission.
- -- Use "all-in cost" as a range, not a precise number.
Comparison checklist
- 1.Confirm management fee and what it's charged on (NAV vs committed, etc.)
- 2.Check if performance fee exists and whether there's a hurdle + high-water mark
- 3.Identify any subscription fee on entry
- 4.Identify any redemption/exit penalties and whether early-exit rules apply
- 5.Look for OCF/TER or operating expense disclosures
- 6.Confirm liquidity mechanics (when and how you can redeem)
- 7.Confirm governance: depositary/custodian arrangements and reporting cadence
- 8.Prefer funds with consistent, dated primary documentation
Red flags
- --No primary documents available
- --Fee language is vague ("market standard")
- --Performance fee disclosed without mechanics
- --Redemption/exit rules unclear or discretionary
- --Expenses bundled without explanation
- --Conflicts between documents with no clarification
- --"All-in" costs impossible to estimate due to missing disclosures
Questions to ask
- 1.What is the exact management fee, and what base is it charged on?
- 2.Is there a performance fee? What's the hurdle and high-water mark?
- 3.Are subscription/redemption fees ever charged? When do they apply?
- 4.What operating expenses are charged to the fund, and are they capped?
- 5.Where can I see the latest version of the prospectus and the audited report?
- 6.How are redemptions processed, and what can delay an exit?
Methodology: How This Fee Table Is Built
This page compiles fee terms for Portugal Golden Visa-eligible investment funds using primary fund documents and clearly defined extraction rules. Our goal is to standardise fee information so investors can compare funds using the same fee categories and assumptions.
Data sources we use
We extract fees from primary documents, including (where available):
- Fund prospectus / offering memorandum (primary source)
- Key Information Document (KID/KIID) where applicable
- Subscription agreement / application form
- Fund factsheets when they explicitly state fee terms
- Audited annual reports (to validate expenses and disclosures)
- Manager disclosures and official fund documentation updates
When multiple documents conflict, we flag the fee as Conflicting and treat the term as uncertain until resolved.
Inclusion criteria
A fund can appear in the table only if:
- It is presented as a Portugal Golden Visa-eligible route (or materially aligned with common eligibility requirements), and
- We have at least one primary document that discloses core terms, and
- The fund has enough information to classify its strategy and fee structure at a minimum baseline level.
Fee categories and extraction rules
We standardise fees into the same categories for every fund:
- Management fee (annual)
- Recorded as a % per year. If a range or tier exists, we record the relevant share class for typical Golden Visa tickets.
- Performance fee / carry
- Recorded as the stated carry % and key mechanics (hurdle, high-water mark, crystallisation) when disclosed.
- Subscription fee (one-time entry)
- Recorded as a % or fixed cost payable on subscription. If waived or negotiable, noted as such.
- Redemption fee / exit fee
- Recorded as a % or stated terms payable on redemption/exit. If penalties apply only to early redemption, we record that condition.
- Admin / custody / depositary / operating fees
- Recorded when disclosed as explicit line items. If bundled into "fund expenses" without detail, marked as partially disclosed.
- Other expenses / ongoing charges (OCF/TER)
- Recorded when disclosed. If not disclosed or not applicable, marked accordingly.
Source badges
Every fee cell is labelled as:
- Disclosed: fee is clearly stated in a primary document
- Not disclosed: fee category is not clearly stated
- Conflicting: documents disagree or terms are ambiguous
Verification steps
- Prefer prospectus/offering docs over marketing materials
- Cross-check key terms across multiple documents when available
- Capture the document date/version used
- Flag missing or ambiguous terms instead of guessing
- Maintain a review log so users can see when the record last changed
All-in cost framework
The "All-in cost" shown on this page is an estimate, not a quote. It typically includes:
- Management fees over the selected holding period
- One-off subscription/redemption fees where disclosed
- Performance fee scenarios only as a modelled estimate
- Explicitly disclosed operating costs where available
It does not include:
- Legal and application fees
- FX conversion/spread and bank transfer fees
- Taxes
- Adviser/intermediary fees
- Opportunity cost, delays, or time-to-redemption differences
- Any costs not disclosed in primary documents
Exclusions
- We do not infer or estimate undisclosed fees
- We do not treat marketing claims as fee disclosure
- We do not compare funds purely by fees or recommend a fund solely on cost
- We do not publish confidential terms not present in official documents
Update cadence
We review this dataset on a recurring schedule and update records when fund documents change, new audited reports are published, managers release revised terms, or we discover conflicts that require correction.
Important limitations
Fund terms and disclosures can change. Always verify fees using the latest official documents before investing. This page is for comparison and education, not financial advice.
Disclosure Grade Rubric
- Grade A -- Full disclosure
- All five fee categories clearly disclosed. Primary documents dated. All-in estimate allowed; confidence = High.
- Grade B -- Mostly disclosed
- Management + performance fees disclosed, plus at least 2 of 4 remaining categories. No major conflicts. Confidence = Medium.
- Grade C -- Partial disclosure
- Management fee disclosed (or partially). Performance fee unclear. One-off fees missing. Confidence = Low.
- Grade D -- Poor disclosure
- Management fee not clearly disclosed, or primary documents missing, or multiple unresolved conflicts. All-in estimate = Unknown.
Definitions
- Management fee:
- annual fee paid to the manager for running the fund.
- Performance fee/carry:
- fee paid based on profits or outperformance, usually with rules like hurdles or high-water marks.
- Subscription fee:
- one-time entry cost when investing.
- Redemption fee:
- one-time exit cost when redeeming.
- OCF/TER:
- ongoing charge figure / total expense ratio, where disclosed.
Changelog
- 2026-02-27 -- Initial publication of fee comparison table with data from existing fund records.
Fund Fee FAQs
Most Portugal Golden Visa-eligible funds charge an annual management fee in the ~1% to 2% per year range, but the exact figure varies by strategy, manager, and share class.
No. Some funds charge no performance fee, while others charge a carry (often expressed as a percentage of profits) that may only apply above a hurdle rate or benchmark.
A subscription fee is a one-time cost paid when you invest (subscribe) into the fund. Some funds charge none; others charge a fixed % or have tiered/negotiable terms.
A redemption or exit fee is a cost charged when you redeem or exit the fund. It can be used to discourage early exits or cover fund transaction costs.
"All-in cost" is an estimate of the total fund-level fees and expenses you may pay over a holding period, based on what's disclosed (and excluding costs outside the fund, like legal, FX, and taxes).
Because some funds don't clearly disclose one or more material costs (e.g., other ongoing charges, admin/custody/depositary, layered vehicle expenses, or performance fee mechanics).
Fees are typically disclosed in the prospectus / offering memorandum, and sometimes summarised in a KID/KIID, subscription documents, and audited annual reports.
No. They may be disclosed as line items, bundled into "fund expenses," or not clearly stated. When they're not clearly stated, we flag it as a disclosure issue.
No. Performance fees depend on definitions (profits vs outperformance), hurdles, high-water marks, crystallisation frequency, and whether costs are netted before carry.
Sometimes. Institutional or larger tickets may get fee breaks or different share classes, but this is manager-specific and not guaranteed.
Not necessarily. Fees are only one factor. Governance, liquidity/exit mechanics, strategy fit, documentation quality, and operational setup can matter more than a small fee difference.
They can change when managers update documents, launch new share classes, or revise terms. That's why the page shows Last updated and uses document dates.
Related Pages
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Fee Type Guides
Deep-dive into management, performance, subscription, and redemption fees.
Funds for US Citizens
FATCA-compliant, PFIC-reportable funds accepting US persons.
All Funds Directory
Browse all Portugal Golden Visa-eligible funds.