The Portugal Golden Residence Permit Program, a five-year residence-by-investment initiative for non-EU nationals, typically requires a significant financial commitment. The innovative Unbound Fund, co-founded by Alessandro Palombo, offers a pathway to obtain a Portuguese golden visa through indirect Bitcoin investment.

Alessandro Palombo, Co-Founder and CEO of Unbound Fund shared in an X post, dated 23 July, that “It is now possible to acquire Portuguese/EU citizenship by indirectly holding Bitcoin worth 500 K euros. Unbound Fund is the first Golden Visa-eligible fund that gives you exposure to Bitcoin.

“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.”

Newspaper Exame. reports: “In this case, it is necessary to pay between €250,000 and €500,000 to receive a Portuguese passport in exchange. The Unbound Fund's proposal is that interested parties obtain this citizenship through investment in bitcoin, applying €500,000 to the cryptocurrency investment fund created by Unbound.

“The idea behind the Unbound Fund is that investors' contributions are sent to Portuguese companies that, in turn, purchase and directly hold bitcoin for the fund, in line with the Portuguese government's requirements for granting citizenship.”

According to the paper, “The Portuguese Securities Market Commission has authorised the fund to operate, but it is currently listed as "inactive", meaning it has not been officially launched on the market. However, the regulator confirmed to Decrypt that the fund will operate "under the supervision" of the agency.

In addition to the investment, granting Portuguese citizenship also requires that the investor has no criminal record and passes a basic Portuguese language test. Investments must be maintained for at least five years to guarantee citizenship.”

Author

Following undertaking her university degree in English with American Literature in the UK, Cristina da Costa Brookes moved back to Portugal to pursue a career in Journalism, where she has worked at The Portugal News for 3 years. Cristina’s passion lies with Arts & Culture as well as sharing all important community-related news.

Cristina da Costa Brookes