Portugal is poised to potentially become the first European nation to grant residency to foreigners in exchange for investments made using decentralised cryptocurrencies, such as Bitcoin.
This initiative was only introduced by Alessandro Palombo, co-founder and CEO of Unbound Fund, through a post on their X account.
Palombo suggests that holding Bitcoin valued at €500,000 through the Unbound Fund could qualify an individual for residency in Portugal under the Golden Visa Program. He advocates for utilising Bitcoin as a means to achieve mutual benefits and enhanced mobility in Portugal.
Portugal officials have not addressed the proposal yet. However, there’s still a chance such an option might be at least considered, if not utilised, in the near future of Golden Visas.
Previously, 3CC Global Crypto Fund became the first crypto fund to be registered with the Portuguese regulator CMVM. This was reported by Jornal de Negocios. The fund invests in major cryptocurrencies such as Bitcoin, Ethereum, and Solana and has assets amounting to €1 million.
An investment fund is a financial company that attracts and grows investors' capital. After generating profit, the fund distributes it among investors, deducting its commission.
A fund is allowed to invest in multiple types of assets simultaneously, such as commercial properties and industrial objects. The Portuguese Securities Market Commission—CMVM, or Comissão do Mercado de Valores Mobiliários, ensures that funds adhere to their investment strategies.
Purchasing shares in investment funds is one of the options for obtaining a Golden Visa in Portugal.
Investments in funds can be redeemed within a certain period, usually from 5 to 10 years, with an annual return of 3—10%.
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