“Hold bitcoin and obtain Portuguese nationality”. The first fund with 100% exposure to cryptoassets in Portugal has already started operating, eligible to obtain a residence permit for investing in cryptocurrency.
The background is called Unboundis managed by Green One Capital and is already registered with the Securities Market Commission (CMVM). It aims to raise up to 30 million euros.
The fund gives access to the golden visaswhich attracts citizens from outside the Schengen Area, allowing them to reside in Portugal and obtain nationality within 5 years through significant investments, starting from 500 thousand euros.
It’s simple: “hold bitcoin and obtain Portuguese nationality”, he announced Alessandro Palombocreator of the Unbound Fund, on social media.
Question: Did you know you can maintain Bitcoin exposure while getting an EU passport?
🇵🇹 The Unbound Fund lets you:
– Invest €500k
– Keep exposure to digital assets
– Get residency
– Include your family in the application
– Become a 🇪🇺 citizen in 5 yearsDM for details.
— Unbound (@unboundfund)
Interest has grown a lot, especially among older people
To the newspaper, Palombo explains that the fund will invest in “companies with growth potential in the blockchainwhich are involved in activities such as research, investment, mining, blockchain and software development.” Liquidity derives “from cryptoassets, such as bitcoin”.
Interest in cryptoassets has increased largely due to , which in December exceeded the 100 thousand dollars.
O interest “Now it’s much bigger and you can see it especially around older people, in their 50s and 60s”, says Pedro Borges, representative of Mercado Bitcoin to the weekly.
Despite being the first fully exposed to crypto assets, Unbound is not the first with exposure.
O 3CC Portugal Golden Incomemanaged by 3 Comma Capital, has a diversified allocation, including 15% in cryptocurrencies, 15% in US stocks and 70% in Portuguese corporate bonds. In November, the fund appreciated more than 6%, according to Expresso.
Although Unbound is the only fund eligible for gold visas with 100% exposure to crypto assets, 3 Comma Capital also launched the 3CC Global Crypto Fundfocused exclusively on digital assets. However, the latter does not fall under the golden visa regime, as it invests directly in crypto assets, without meeting the legal requirements for maturity and portfolio composition.
How the fund is eligible for golden visas
For a fund to be eligible for golden visas, it must have a minimum maturity of five years and at least 60% of your investment portfolio must include Portuguese companies. After this period, investors can begin the Portuguese nationality process, as long as they meet the requirements to stay in Portugal.
With the recent legislative update, completed in October, funds linked to real estate lost their eligibility for golden visas, which could increase the focus on funds with crypto assets, experts believe.
In 2023, mutual funds represented 30% of gold visas issued, an increase of 45% compared to the previous year. However, in the first half of 2024, there was a slowdown, attributed to political instability and legislative changes.
Even so, a recovery is expected in the second half of the year, driven by Portugal’s attractiveness as an investment destination and by the US president, who may motivate North Americans to consider residing in the country.
