The Portugal Future Fund is a closed-ended venture capital fund. The fund is Golden Visa eligible, allowing investors to apply for permanent residency after 5 years.

The Portugal Future Fund is managed by Quadrantis Capital - SCR, S.A. and custodied by Bison Bank, S.A.

The Portugal Future Fund has a duration of 7 years, which can be extended up to 12 years.

The Golden Visa is Portugal’s residency-by-investment program, offering non-EU investors the ability to obtain Portuguese residency through qualifying investments in Alternative investment funds in Portugal approved by the regulators for this purpose. Benefits include:
‍
• Residency in Portugal for you and your dependant family (including parents over 65 or offspring still in education).
• Visa-free travel within the European Schengen Zone countries .
• Permanent residency or citizenship in EU after 5 years of holding Golden Visa provided requirements are met and nothing disqualifies you based on poor behaviour.

The Portugal Future Fund is a regulated Alternative Investment Fund (AIF) in Portuguese private equity that meets the Golden Visa requirements for residency by investment in Portugal. To qualify:
‍
• The minimum investment is €500,000 in the Fund or Funds.
• The Fund is fully compliant with regulations set by the CMVM (Comissão do Mercado de Valores Mobiliários).
• It aligns with the approved categories under the Golden Visa residency by investment program. It invests under the regulations a minimum of 60% of deployed capital in Portuguese private equity. The Fund invests at least 60% of the capital in Portugal. The Fund will not, directly or indirectly, invest in Real Estate to comply with CMVM regulations for Golden Visa residency-by-investment.
‍

The steps include:
‍
1. Subscription:
Sign the Subscription Agreement for the Portugal Future Fund operate by fund managers Quadrantis Capital and transfer the required investment amount as per the immigration lawyers instructions, plus any administration, KYC, preparation of required documents, filling out of forms, compliance, and legal costs (These costs related to subscription will be met by the investor, be a maximum of 2%, and capped at €8,000). The annual management fee is 2%.

2. Golden Visa Application:
Engage a Portuguese legal advisor to submit your application. Provide required documents, including proof of investment, passport copies, criminal records and proof of address.

3. Approval:
Initial approval typically on payment of the investment and application.

4. Residency Permit:
Upon approval, you and your family members will receive residency cards valid for 2 years, renewable every 2 years. There can be delays in receiving cards but this does not effect your investment or status

The minimum investment is €500,000 in a qualifying Portuguese Alternative Investment Fund or Funds (such as the Portugal Future Fund). This investment can be split over a number of Golden Visa residency-by-investment approved funds. The minimum you can invest in the Portugal Future Fund if you are splitting your investment over more than one fund is €100,000.

Yes, the Golden Visa covers your immediate family, including:
• Spouse or legal partner.
• Children under 18 years old.
• Dependent children over 18 who are full-time students.
• Dependent parents of the investor or spouse over 65 .

You must spend a minimum of 7 days per year in Portugal to maintain your residency. This includes the first year and subsequent years of your residency renewal period.

Yes, after 5 years of maintaining the Golden Visa, you may apply for permanent residency and Portuguese/EU citizenship. Requirements include:

• Maintaining your qualifying investment for the full period.
• Meeting basic Portuguese language and cultural knowledge requirements.

Golden Visa holders are not automatically tax residents in Portugal unless they spend more than 183 days per year in the country. If you become a tax resident:
‍
• You may qualify for tax benefits, including reduced or zero tax rates on certain foreign income.
• Your investment returns from the Fund may also be tax-efficient under Portuguese AIF regulations. Capital gains from the investment in the Fund are also not taxed in most cases for foreign residents. It is important to always get independent cross-border tax advice on any investment.

The Portugal Future Fund is a long-term private equity investment. Key points to consider:
• Investments are locked in for the Fund’s term (5–7 years, with possible extensions).
• Early withdrawals are not permitted unless through dividends, or a waterfall payment through one of the invested companies being sold. Golden Visa investments have to remain invested for five years under Portuguese residency legislation.
• Your principal and returns will be distributed according to the Fund’s performance and distribution schedule.

The sale of participation units for the Portugal Future Fund are subject to prior consent from the Fund Manager.

The Portugal Future Fund involves investment risks, including:
‍
• Market fluctuations affecting returns.
• Short to medium-term illiquidity of the investment.
• Regulatory or economic changes in Portugal.
‍
Prospective investors should consult financial and legal advisors to assess these risks before investing.

The sale of participation units for the Portugal Future Fund are subject to prior consent from the Fund Manager.

The Portuguese government has occasionally updated the Golden Visa program. However:
‍
• Existing investors are typically protected under law in Portuguese “grandfathering” rules, ensuring their investments remain eligible under the terms at the time of investment.
• The Fund Manager and legal advisors monitor changes to inform investors promptly.

The fund focuses on high-growth and innovative companies.

At least 60% of the capital is invested in Portugal.

The fund invests through equity and quasi-equity investments in SMEs.

No, the fund does not invest in real estate, either directly or indirectly.

The fund may incur debt up to 25% of its assets, with higher limits requiring participant approval.

The fund has a maximum capital of €100 million.

Class A: 999 units, each valued at €100,000.

The subscription period is 21 months from the fund's registration with CMVM.

Management Fee: 2% annually on total committed capital (minimum €60,000 per year).
Subscription Fee: 1% of investment, but waived for early investors until June 2025.
Performance Fee: 35% of annual surplus income.
Supervisory Fee: 0.072% of net asset value.
Custodian Fee: 0.05% annually, with a minimum of €2,500 per quarter.

Capital gains and returns are reinvested until the disinvestment period begins.

Distributions begin during the disinvestment phase.

The first 4% of annual realised capital is distributed to investors.

After the initial 4% distribution, the remaining carried profits are split as follows:
‍
- 65% to investors
- 35% to management

The exit strategy involves selling investments to institutional and non-institutional investors for maximising returns.

The fund is audited by Kreston & Associados, SROC, Lda.

The General Participants' Meeting is held annually to review the fund's performance and approve financials.

A 75% approval from participants is required to extend the fund's term beyond 7 years.

The fund is dissolved and liquidated under the following conditions:
‍
- Upon expiration of its term or
- By resolution of investors holding 75% of the participation units.

The management company acts as the liquidator unless another entity is appointed.

The fund is regulated by the Portuguese Securities Market Commission (CMVM).

The fund operates under Portuguese law.