Portugal opens doors for crypto investors: “Golden Visa” for holding €500,000 worth of bitcoins via Unbound Fund.
Portugal is preparing for a significant change in its immigration policy aimed at attracting cryptocurrency investors. Under the new initiative, investors storing €500,000 worth of bitcoins through the Unbound Fund will be able to obtain a so-called “Golden Visa” that opens the door to residency in the country.
The program is part of Portugal's broader strategy to position itself as a crypto-friendly jurisdiction and boost economic growth by attracting foreign investment in digital assets. Unbound Fund, specifically created for this purpose, will serve as an intermediary between investors and the Portuguese government, ensuring the security and transparency of transactions.
Experts note that such a move could make Portugal one of the leading European hubs for cryptocurrency business. This initiative is expected to attract not only individual investors, but also cryptocurrency companies, which may consider Portugal as a potential base for their European operations.
However, this program also raises some concerns. Critics point to the risks associated with the volatility of cryptocurrencies and the potential use of the scheme for money laundering. In response to these concerns, Portuguese authorities say they are implementing strict verification and control mechanisms to prevent abuse.
Portugal's economy minister emphasized that the initiative is part of a broader strategy to diversify the country's economy and attract innovative technologies. “We aim to create a favorable environment for the development of blockchain technologies and the cryptocurrency sector, which in turn will stimulate job creation and economic growth,” he said.
It is expected that the details of the program will be finalized and made public in the coming months. The government also plans to hold a series of information events for potential investors to explain the terms of participation in the program and answer questions.
This initiative by Portugal could become a precedent for other European countries considering cryptocurrency investments. Experts predict that the success of this program could lead to similar initiatives in other countries seeking to strengthen their position in the rapidly evolving world of digital finance.
