Golden Visa
After Choosing the Funds Route, Investors Face a Crucial Decision: How to Select the Best Golden Visa Fund?
Eliminating real estate from Portugal's Golden Visa program has significantly transformed the investment landscape. Now, selecting the right investment fund is the defining choice for residency seekers, requiring a deep understanding of liquidity, risk, and long-term capital preservation.
While this shift may appear to simplify the investment process, it is more complex. Investors must navigate between venture capital (VC) and open-ended funds, carefully evaluating which investment strategy aligns with their financial goals while ensuring regulatory compliance and minimizing volatility.
For investors seeking a simplified exit strategy, open-ended funds are generally the preferred route. Unlike closed-ended funds, where capital is tied up for extended periods, open-ended structures allow investors to redeem their holdings without waiting for a pre-defined exit event. This feature provides a crucial advantage, particularly for those seeking a clear and flexible pathway toward Portuguese residency while maintaining control over their capital.
This paradox often catches investors by surprise. While they seek the stability of an open-ended fund, they may inadvertently face heightened exposure to unpredictable stock market movements—potentially undermining the security of their Golden Visa investment.
15% allocation to carefully selected digital assets, offering growth potential in emerging markets.
A balanced approach ensuring both capital preservation and long-term return potential.
At 3 Comma Capital, we recognize that for many investors—particularly older individuals, navigating a new residency process can be daunting. That’s why our services extend beyond fund management, offering personalized support to facilitate a smooth relocation, including:
Since its establishment in 2022 as a Portuguese-German family office, 3 Comma Capital has grown to manage over €100 million in assets, demonstrating both stability and innovation in the Portuguese market.
Our regulated investment platform provides professional guidance throughout both the investment selection and residency application process, supported by a comprehensive suite of services tailored to investors seeking a seamless transition to Portugal.
Download the Portugal Golden Income Fund Teaser for additional information.
Contact 3 Comma Capital today to explore how our bond-focused Golden Visa strategy can work for you.
While this shift may appear to simplify the investment process, it is more complex. Investors must navigate between venture capital (VC) and open-ended funds, carefully evaluating which investment strategy aligns with their financial goals while ensuring regulatory compliance and minimizing volatility.
Open-Ended vs. Closed-Ended Funds: Liquidity and Exit Strategy
One of the first decisions investors face is whether to opt for a closed-ended venture capital fund or an open-ended investment fund. Each option presents distinct advantages and challenges:
Closed-Ended Venture Capital Funds:
- Extended lock-up periods limiting investor flexibility.
- Higher risk profiles inherent in early-stage investments.
- Limited liquidity options during the investment period.
Open-Ended Funds:
- Daily liquidity offers greater flexibility.
- Lower risk profiles due to diversified portfolios.
- No mandatory lock-up period, allowing for tactical adjustments.
- Regular reporting, enhancing transparency.
- Usually lower fees, leading to cost-efficiency.
For investors seeking a simplified exit strategy, open-ended funds are generally the preferred route. Unlike closed-ended funds, where capital is tied up for extended periods, open-ended structures allow investors to redeem their holdings without waiting for a pre-defined exit event. This feature provides a crucial advantage, particularly for those seeking a clear and flexible pathway toward Portuguese residency while maintaining control over their capital.
The Hidden Volatility in Open-Ended Funds
Despite their structural benefits, many open-ended funds present a hidden risk: market volatility. Most Golden Visa-eligible open-ended funds heavily concentrate their portfolios on Portuguese equities, exposing investors to fluctuations in a relatively small and less liquid market.This paradox often catches investors by surprise. While they seek the stability of an open-ended fund, they may inadvertently face heightened exposure to unpredictable stock market movements—potentially undermining the security of their Golden Visa investment.
The Solution: A Golden Visa-Eligible Fund Built for Stability
The Portugal Golden Income Fund directly addresses this challenge by offering a bond-focused investment strategy designed for capital preservation and steady returns. As a fully authorized Golden Visa-eligible investment vehicle, it meets all residency-by-investment regulatory requirements while prioritizing stability over speculation.The Bond-Focused Strategy: Stability and Growth
The 3 Comma Capital Portugal Golden Income Fund stands out with its innovative investment approach, offering a well-balanced combination of capital security and long-term growth potential. Unlike equity-based funds, which are vulnerable to market swings, the fund focuses on a diversified portfolio of bonds, ensuring a more predictable and resilient performance.
Core Stability (70% Allocation)
- Portuguese investment-grade corporate bonds provide steady, predictable returns.
- Diversification across bonds issued by both listed and non-listed companies enhances security.
- Unlike equity-heavy funds, this bond-based structure offers reduced exposure to market volatility.
Strategic Growth Elements (30% Allocation)
15% allocation to the S&P 500, tapping into global market growth while maintaining stability.15% allocation to carefully selected digital assets, offering growth potential in emerging markets.
A balanced approach ensuring both capital preservation and long-term return potential.
Why This Approach Works for Golden Visa Investors
The strategic structure of the Portugal Golden Income Fund provides multiple advantages while remaining fully compliant with Golden Visa requirements.- Lower Volatility: Compared to equity-based Golden Visa funds, our bond-focused strategy significantly reduces market exposure.
- Daily Liquidity: Investors can adapt to changing financial circumstances or opportunities without sacrificing residency eligibility.
- Tax Efficiency: Non-resident investors benefit from capital gains tax exemptions while operating within a CMVM-regulated framework.
- Flexible Entry Options: Two share classes accommodate different investor objectives:
- Accumulation Class A (minimum €100,000): Designed for long-term compounding growth.
- Distribution Class D (minimum €300,000): Ideal for investors seeking regular income distribution.
Catering to a New Generation of Golden Visa Investors
As Portugal’s Golden Visa landscape evolves, so too does the demographic of investors. Increasingly, retirees and high-net-worth individuals seek not just an investment opportunity but a comprehensive support infrastructure for their transition to Europe.At 3 Comma Capital, we recognize that for many investors—particularly older individuals, navigating a new residency process can be daunting. That’s why our services extend beyond fund management, offering personalized support to facilitate a smooth relocation, including:
- Concierge services for practical relocation assistance.
- Financial advisory partnerships to optimize wealth management.
- Corporate and tax structuring expertise for business expansion.
- Educational guidance for families integrating into Portugal’s school system.
- Cultural integration support, ensuring a seamless transition into Portuguese life.
A Foundation of Institutional Excellence
3 Comma Capital operates under the regulation of the Portuguese Securities Market Authority (CMVM), ensuring the highest standards of fund management and investor protection. The Portugal Golden Income Fund is structured specifically to meet Golden Visa requirements while maintaining institutional-grade oversight.Since its establishment in 2022 as a Portuguese-German family office, 3 Comma Capital has grown to manage over €100 million in assets, demonstrating both stability and innovation in the Portuguese market.
Begin Your Journey with Confidence
Secure your European residency while making a stable, tax-efficient investment with the Portugal Golden Income Fund.Our regulated investment platform provides professional guidance throughout both the investment selection and residency application process, supported by a comprehensive suite of services tailored to investors seeking a seamless transition to Portugal.
Download the Portugal Golden Income Fund Teaser for additional information.
Contact 3 Comma Capital today to explore how our bond-focused Golden Visa strategy can work for you.
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Duarte Caldas
Investments Principal
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With more than 20 years of experience in financial markets, Duarte specialized in the energy area in the last decade, where he had the opportunity to work with the main European Power and Gas institutions at CIMD Group. Previously, he worked as Market Strategist at IG Markets Iberia.
