Almost one year in: How the Portugal Golden Income Fund is redefining diversification for Golden Visa investors

Eleven months ago, the Portugal Golden Income Fund (PGI) set out to do something different in a crowded field of Golden Visa-eligible investment funds: offer real multi-asset diversification with equity-like returns and a capital preservation focus all within an open-ended structure.

Eleven months later, the results speak volumes. With over €60 million in realized and committed capital and more than 200 investors, primarily U.S.-based investors, the fund has quickly established itself as one of the fastest-growing Funds in Portugal. With the right to a cover call-out in the August 14th edition of the most relevant weekly newspaper in Portugal.

But it’s not just about size. It’s about fit.

► Meet Mark S., Our Typical Investor
Mark is 52, based in San Diego, California. He holds an MBA from the University of Chicago and is the COO of a mid-sized tech firm. Married with two children, he has a net worth of around $3 million and a well-diversified U.S. portfolio. He’s not looking to abandon the U.S. immediately, but like many, he’s planning ahead.

Frustrated by political volatility and drawn to Europe’s stability and values, Mark sees Portugal’s Golden Visa not just as a Permanent Residency or a Passport pathway, but as a "Plan B" for his family’s future. He wants dollar diversification, and low-friction onboarding. And while cautious about Bitcoin, he appreciates smart exposure within a professional framework.

He is not alone.

Investor profile snapshot

According to internal data from the fund’s first 100+ investors:

75% are aged 45–59
55% are from California
90% are American
70% have postgraduate degrees
Most are senior corporate professionals (COOs, CFOs, founders)
Nearly all value a compliant, simplified investment process, with no need to open a Portuguese bank account.

Why Multi-Asset allocation matters

In a field where most funds focus on equity (public and private), PGI stands out for its accessible, liquid, and globally diversified portfolio:

65% in investment-grade Portuguese corporate bonds (capital preservation core)
20% in global equities (S&P 500, MSCI World ex-US, MSCI EM ex-China)
15% in alternative assets (Bitcoin and Gold)

This allocation is designed to deliver equity-like returns with half the volatility, making it a particularly attractive option for conservative-to-moderate risk profile investors who want a reliable return profile while maintaining exit flexibility.

Open-Ended. Daily Liquidity. No Lockups.

Unlike many Golden Visa funds with long lock-up periods and opaque exit terms, PGI offers:

Daily NAV
No subscription fees
Declining redemption fee that drops to 0% after year 5
No requirement to open a local bank account
Direct compatibility with SDIRA Trust structures for U.S. investors; PFIC reporting and FACTA compliance.

A Growing Community of like-minded investors

With over 200 investors and growing (90% investing for the Golden Visa and 80% from the U.S.), PGI has become more than a fund. It’s a community of globally minded professionals seeking a secure, flexible path to European residency and a long-term hedge against uncertainty.

Looking ahead

As 2026 approaches, demand for Golden Visa investments that offer real diversification, daily liquidity, and friendly structures continues to grow. PGI is well-positioned not only to meet that demand, but to lead it.