New Fund Launches Linking Crypto Investment to Portuguese Residency
Investors can choose between a minimum investment of €100,000 for non-residency or €500,000 if they aim to gain residency through Portugal’s Golden Visa program.
Updated Feb 11, 2025, 3:33 p.m. UTCPublished Feb 11, 2025, 2:00 p.m. UTC
What to know:
- KvarnPortugal Fund, a partnership between Fundbox and Kvarn X, allows exposure to cryptocurrency and potential Portuguese residency or citizenship.
- The fund's subscription period ends in Feb. 2027, with a 0.05% management fee, 2.5% subscription fee, and a €1,250 KYC fee.
A new investment vehicle, the KvarnPortugal Fund, is set to allow investors a way to gain exposure to the cryptocurrency sector while also presenting a potential pathway to Portuguese residency or citizenship.
The fund is the result of a partnership between Fundbox, a Portuguese fund management company, and Kvarn X, a European cryptocurrency investment platform.
The fund's subscription period ends in Feb. 2027, according to its website, and features a 0.05% management fee, along with a one-off 2.5% subscription fee. On top of these, investors also have to cover a €1,250 ($1289) know-your-customer (KYC) fee.
The fund has an 80/20 profit share. For investors that aren’t after Portuguese residency, the minimum investment is €100,000.
The fund is set to allocate 80% of its portfolio to bitcoin (BTC), and the remaining 20% to the CoinDesk 20 Index, which offers exposure to a broad range of large-cap cryptocurrencies.
KvarnPortugal aligns “financial opportunity with real-world utility” by integrating the index into a fund facilitating residency-by-investment, said Alan Campbell, president of CoinDesk Indices. The CoinDesk 20 Index, he added, was “designed to serve as the industry’s most liquid benchmark."
To use the fund to gain residency in Portugal through the country’s Golden Visa program, investors would have to commit a minimum of €500,000 and spend at least 35 days in the country over five years. The investment will have to be made via a Portuguese bank account to qualify, according to the fund’s website.
