"Previously, applicants could qualify for Portugal's golden visa by investing in local real estate, but the option was scrapped in 2023 after it was blamed for exacerbating the country's cost-of-living crisis. Shortly after, the investment fund route-contributing at least 500,000 euros (about $576,850) in a qualifying venture capital or investment fund-became the primary pathway for obtaining the visa, Reuters reported."
"The fund, called LXL Ventures, received approval from the Portuguese Securities Market Commission (CMVM) in October, LXL Ventures tells Condé Nast Traveler. Here's how it works: LXL invests 60% of its fund in Portugal, as required by the government: 35% in "low risk investments" and 25% in "early-stage technology companies," according to Zeev Fisher, a tax lawyer and partner at LXL Ventures. The remaining 40% is then invested in US companies."
The Residence Permit for Investment (ARI) program allows recipients to live in Portugal for up to five years. After five years, visa holders can apply for permanent residency or Portuguese citizenship and obtain visa-free Schengen travel. The real estate investment pathway was eliminated in 2023 after being blamed for worsening the cost-of-living crisis. The investment fund route now requires at least €500,000 in a qualifying venture capital or investment fund. LXL Ventures received CMVM approval in October as a fund tailored for Americans. LXL allocates 60% to Portugal (35% low-risk, 25% early-stage tech) and 40% to U.S. companies, and offers tailored tax and compliance advice.
Read at Conde Nast Traveler
Unable to calculate read time
Collection
[
|
...
]