Portugal Golden Visa with Bitcoin Investment: 2025

Bitcoin investors have been handed a new route to European Union (EU) residence thanks to the launch of a crypto-based venture capital fund.

Unbound Fund, an investment fund company based in Portugal and regulated by the Portuguese Securities Market Commission, is offering a fund invested entirely in Bitcoin through reputable worldwide Exchange Traded Funds (ETFs).

Investors can qualify for the Portuguese residence-by-investment scheme, also known as a ‘Golden Visa’, which offers non-EU and EEA nationals temporary residence in Portugal through any of five investment routes, including contributing at least €500,000 to a qualifying investment fund.

The fund looks set to qualify investors for a Portuguese golden residence visa because it invests in Bitcoin ‘indirectly’. 

That said, the exact rules remain unclear and will depend on Portugal’s AIMA  (Agency for Integration, Migration and Asylum) providing reviews and analysis over time.

Still, Unbound Fund has received the all-clear from legal experts and is already helping investors claim their Portuguese residence.

‘I believe it’s time to use Bitcoin as a tool for freedom of movement in a mutually beneficial way with Portugal, a country I have chosen to live in with my family’, said Unbound co-founder and CEO Alessandro Palombo.   

How Unbound Fund Works

Palombo describes his firm as the first Web3 Golden Visa Fund to offer a path to a second residence by investing in cryptocurrency.

Unbound Fund has reportedly attracted at least 110 investors seeking to apply, but it’s worth noting that investments can be made with Unbound Fund regardless of the golden visa program.

To be eligible for Portuguese residence, you must invest a minimum of €500,000 and commit to maintaining your investment for at least five years – a stipulation that might discourage some investors who prefer to time the market to take advantage of Bitcoin’s inevitable volatility. 

For its part, Unbound Fund says it acquires exposure to Bitcoin through ETFs consistently instead of attempting to time the market, pointing out that Bitcoin has outperformed every other asset class in eight of the last 11 years.

Nevertheless, as any cryptocurrency investor will tell you, you should only enter this market if you have a large appetite for risk.

Portugal Golden Visa Crypto Fund Options

While the exact rules around Portugal’s Bitcoin fund remain unclear, two possible options seem to offer residence via investing in cryptocurrency-backed funds:

• Fund 1 – Web3 Industry Fund: This pioneering fund is fully invested in Bitcoin through secure ETFs, offering a high exposure to the growth potential of crypto. The fund is managed by a seasoned Web3 advisor, has low transaction costs and allows for fund liquidation at the end of the investment term. This is a more direct crypto-focused option.
  
• Fund 2 – Balanced Portfolio Fund: This fund offers a more diversified approach, with 15% in digital assets, 15% in US equities, and 70% in Portuguese bonds. This structure aims to balance crypto’s high growth potential with the relative stability of traditional assets to limit investors’ exposure to a more moderate risk profile.

Other Options for a Golden Residence Visa in Portugal

Portugal’s golden visa scheme was launched in 2012 as part of its efforts to recover from a crippling recession. 

The scheme has gone through several alterations but has proven popular with investors throughout its existence.

In the past, the most popular way to get your hands on a golden visa was to invest in Portuguese real estate, but this option was removed in 2024.

As mentioned, it’s still not 100% confirmed when – or even if – the government will approve any direct Bitcoin investment route for a Portuguese golden visa.

As it stands, investors still have several routes to qualify for a Portugal GV, including: 

• Investing at least €500,000 in a qualifying Portuguese venture capital fund
• Donating at least €250,000 (or €200,000 in low-density areas) toward a qualifying cultural investment project 
• Donating €250,000 toward qualifying Portuguese arts, heritage or cultural preservation projects
• Donating €500,000 towards a qualifying Portuguese science or technology research project
• Starting a business that creates at least ten jobs in Portugal
• Investing €500,000 in an existing company, with a commitment to create five permanent jobs or maintain ten existing ones.

In all of these cases, you’ll need to maintain your investment for at least five years to keep hold of your residence status.

After five years, you may be eligible to qualify for permanent residence or citizenship by naturalisation – see our Ultimate Guide to Portuguese Citizenship for all options. 

Once you’ve secured temporary residence, there’s a low physical presence requirement to maintain it and then qualify for permanent residence after five years: you must be present in Portugal for 14 days during every two-year period.

Speculation was rife that Portugal would close its golden visa program in 2024 due to its inflationary impact on house prices throughout the country, but that hasn’t happened. 

Unlike its Spanish neighbour, the Portuguese government has opted to maintain the program – albeit minus a previous option to invest in real estate. 

Still, there’s no guarantee how long the program will remain open.

If Portugal were to close its golden residence visa program in the near future, the move would follow a trend being adopted throughout the EU. 

Ireland and the Netherlands have both shut down their programs, while Spain has announced plans to follow suit in early 2025.

The European Union has been pressuring its member states to shut down citizenship-by-investment and golden visa programs due to concerns over security and corruption. 

The pressure moved Malta to close its citizenship-by-investment program, with the country opting to replace it with a new naturalisation (MEIN) program. 

Still, if you’re a wealthy investor looking to invest your way to an EU residence, Portugal is increasingly the best option. You’ll need to move quickly, though, since there’s no telling how long this option will remain open.

At Nomad Capitalist, we’ve helped thousands of high-net-worth individuals to ‘go where they’re treated best’ by investing in a second residence or second citizenship. Learn more about how Nomad Capitalist can assist you here.   

Why Choose Portugal as a Crypto Investor?

If you’re a serious crypto investor, then Portugal is absolutely a good base.

Clear regulations, friendly tax policies and active support for innovation have helped open Portugal up to crypto investors and entrepreneurs. 

Through this approach, the country has created a stable environment that welcomes both short- and long-term crypto investment.

One of the first things to note about Portugal’s crypto policy is its tax structure. 

While a 28% tax applies to short-term crypto gains (those held for less than a year), long-term holdings are exempt from taxes. This setup makes Portugal especially attractive for those looking to build crypto wealth. 

Crypto tax-loss harvesting is also allowed, which allows investors to offset capital gains with losses.

In terms of regulation, Portugal actively aligns with EU regulations like the Markets in Crypto-Assets (MiCA) framework, which aims to standardise crypto asset regulation across Europe. 

The Portuguese government also encourages Initial Coin Offerings (ICOs) and token sales but recommends consulting with the Portuguese Securities Market Commission (CMVM) for legal guidance. 

Beyond its policies, Portugal is home to a vibrant crypto community, with Lisbon being a tech hub for blockchain and crypto events. 

What Else to Know About Portugal Crypto Taxes

Portugal has long been considered something of a ‘haven’ for individual cryptocurrency investors as crypto transactions are mostly tax-free and exempt from capital gains tax and VAT. 

However, starting in 2023, Portugal introduced changes to its tax policy. While long-term crypto gains (held for over a year) remain tax-free, short-term gains face a 28% tax.

These changes have not affected all investors equally. 

Individual, casual investors can still enjoy favourable treatment, but professional traders could see their profits reclassified as taxable income under Category B, which covers self-employment income.

Determining whether you’re considered a trader depends on factors like trade frequency, income dependency and holding periods.

With some grey areas still unresolved, seeking advice from a tax professional is essential for anyone navigating Portugal’s updated crypto landscape to ensure compliance while optimising your returns.

Portugal Residence for Bitcoin Investors: FAQs

Is Residence in Portugal Via Crypto Investment Right for You?

Relocating your family or your business to a different country can be complicated at the best of times and, even if you’re emigrating solo, there’s a long list of things that can potentially go wrong.

If you’re a high-net-worth individual trying to figure out which is the best country to move to, it can feel impossible to make a decision on your own, let alone find the time to complete the process and make it happen. 

Nomad Capitalist can help – we’ve worked with thousands of wealthy entrepreneurs and investors to help them ‘go where they’re treated best’. 

Our clients are paired with experts in tax, investment strategy, asset protection and immigration to create and execute a plan as unique as your goals. 

Whether you’re trying to get a passport in Portugal, set up a trust in Barbados or reduce your taxes in St Kitts and Nevis, we can offer expert advice and walk you through each step of the process.

And, after helping so many clients, we’ve learned that programs like the Portugal Golden Visa are fleeting. 

The rules are forever changing and adapting, with many countries even abandoning their programs entirely – just look at how quickly Portugal recently removed a real estate investment option from its own residence program. 

So, there are no guarantees when it comes to how much longer these opportunities will be available or what they might look like.

Our advice? 

Get in while you can and make the most of your Bitcoin investment.  Learn more about our holistic Nomad Capitalist plans and how we can help here.