Portugal's Economic Rating Upgraded to 'A+'

Portugal's economic landscape has experienced a remarkable transformation since the 2007 financial crisis, underscored by recent international economic ratings upgrades and a surge in investor confidence.

In February 2025, the Japan Credit Rating Agency (JCR) elevated Portugal's sovereign risk rating from 'A' to 'A+', maintaining its continued 'Stable' outlook compared with other international nations.

This milestone reflects Portugal's diversified economic base, significant progress in structural reforms, and consistent trajectory of fiscal consolidation, which enhances its resilience to external shocks. While these developments are promising, future economic conditions may impact investment attractiveness.

Investor sentiment aligns with these positive developments. The EY Attractiveness Survey Portugal 2024 reveals that 84% of investors plan to establish or expand operations in the country, surpassing the Eurozone average of 72%. Additionally, 77% of global executives anticipate improving Portugal's investment attractiveness over the next three years, outpacing expectations for the wider Eurozone (67%) and the UK (59%).

Paul Stannard, chairman and founder of Portugal Pathways and Portugal Investment Owners Club, said:

"Portugal is uniquely positioned as a safe and stable investment destination with its vibrant culture and growing international reputation for investment and relocation. For HNWIs, affluent families, and institutional investors, the combination of economic stability, tax incentives, and market growth projections in key sectors of its economy make Portugal a compelling proposition."

"There has been a clear uptick in interest in the past year for Portugal’s Golden Visa and the new Tax Incentive for Scientific Research and Innovation (IFICI), also known as NHR 2.0 tax regime, which was launched at the beginning of 2025."

Portugal has seen continued growth in international investment.

Portugal’s Golden Visa residency-by-investment programme has been a significant draw. It offers non-EU citizens a pathway to residency through qualified investments, including select alternative investment funds. By investing a minimum of €500,000 in one or more Golden Visa-approved alternative investment funds, investors and their eligible family members may apply for residence in Portugal. After five years of residency, and subject to meeting all legal requirements, they may also become eligible to apply for Portuguese citizenship and an EU passport.

Portugal’s Golden Visa grants the right to live, work, and study in Portugal and facilitates visa-free travel across the 29 European Schengen countries. Golden Visa holders are required to stay in Portugal for a minimum of seven days per year to maintain their residency status.

Paul Sheedy, international advisor to the Portugal Future Fund, stated:

"We’ve seen an uptick in investors turning their interests to Portugal. The Golden Visa residency-by-investment programme continues to attract HNWIs looking to relocate to Portugal while also potentially benefitting from a €500,000 investment in one or more of the regulated and approved alternative investment funds for Golden Visa."

"Portugal offers not only stability but a high quality of life, a relatively low cost of living, and the opportunity to benefit from and contribute to the country’s economic growth."

The Portugal Future Fund stands out as one of the few alternative investment funds registered with the Comissão do Mercado de Valores Mobiliários (CMVM) for the Golden Visa programme. This registration ensures the fund operates in accordance with applicable regulations, though it does not imply a guarantee of returns or performance.

Managed by Quadrantis Capital, the fund is designed with investor interests at its core, featuring a 4% annual hurdle rate before any performance fees are allocated to the fund managers. Investors should review all terms, including management and performance fees, before making any investment decisions.

Diversification is a key strategy of the Portugal Future Fund. By investing across multiple high-growth sectors—such as media and international events, tourism and hospitality, healthcare, technology, and renewables—the fund aims to mitigate risks associated with sector-specific investments. This approach offers an additional layer of security and downside protection, though investments in alternative funds carry inherent risks, and past performance is not indicative of future results.

The fund's investment strategy is closely aligned with Portugal's economic strengths. Participating in the Portugal Future Fund positions investors to benefit from Portugal's economic growth and provides a streamlined route to applying for residency through the Golden Visa residency-by-investment programme.

While the combination of potential financial return and residency benefits makes the fund attractive for those seeking to invest in a stable and growing economy, investors are encouraged to seek independent financial advice to fully understand the associated risks and opportunities.

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About Portugal Future Fund

The Portugal Future Fund strategically invests in key sectors, driving growth and innovation across Portugal. Approved for Portugal’s Golden Visa residency-by-investment, it offers a unique opportunity for impactful and rewarding participation.

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Disclaimer: The information on the Portugal Future Fund website and in email communications is for general informational purposes only and should not be construed as legal, tax, or financial advice. You should consult and check with a qualified professional advisor before relying on any information provided on this website or in email communications. As it relates to investments in Golden Visas or other wealth management solutions offered by regulated and professional advisors, it is important to note that past performance is no guarantee of future returns. Private equities can be highly illiquid and come with risk and should always be under professional independent advice. Portugal Future Fund operates under CMVM regulations but is not directly endorsed by the CMVM or any governmental entity.

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