The Lisboa Fundbox -based investment firm together with the Kvvn X negotiation platform is launching the KvarnPortugal fund, a first type of cryptographic product of its type based on the Coindesk 20 index that helps people who invest at least 500,000 euros in the background easily establish the residence there.
Here, Jason Dominic, co -founder of Kvarnportugal, and Anders Bjorkman, an asset manager in the background, discuss why many high -network people who are going mass to Portugal now, and how their new background makes them simple to create a backing plan for the unpredictable world today.
Question: Can you tell us what the genesis of this product was?
Jason: We realized that there is this great evolution in Portugal around Fintech and Crypto and our fund is also eligible for the “Portuguese golden visa”, which gives residence rights to people who invest at least 500,000 euros in the country. So we thought, wouldn’t it be great if someone really could marry both and be able to attract this new market that is emerging? So, if you want to invest in Bitcoin and the Coendesk 20 index, we combine it in a unique background where it puts the minimum amount for a golden visa, and then, because it is 100 percent invested through a Portuguese company, it is eligible for gold visa.
We associate ourselves with the Coendesk 20 index because that gives you a good diverse propagation. Now there is a great demand for the Portuguese residence through this investment product, and the United States is the number one market in the world for Portuguese golden visas. And there are also synergies with that in terms of the growth of cryptography, especially with what has been politically happening in the United States. Also in Asia, you have China, which is the second largest market for Portuguese gold visas. Hong Kong also officially hugged Crypto with the consensus of Coindesk there greatly assisted there. The financial secretary made an opening speech welcoming cryptographic businesses to the city, and in his new budget he has just announced, brought new policies to achieve this. Hong Kong is expected to be an important center for cryptographic assets in the coming years.
Question: What is Portugal attractive at this time?
Jason: In the last five to six years, Portugal has essentially become a Latin Switzerland. There has been a real evolution of the wealth that moved to the country, along with the growing venture. And that has to do with a restructuring of the economic economic crisis, in which the government brought all these new tax reforms and made it tax free for people for ten years with certain income abroad, and made investments such as Crypto without taxes in many cases. Therefore, there is a great migration of wealth throughout the world and Portugal is one of those main centers, in addition to Dubai.
Anders: There is also a prosperous cryptographic community here: many meetings, projects, etc. and many people involved in cryptography throughout the Lisbon area. It is the best place for crypt in Europe, if you ask me.
Jason: What happens with people of ultra high heritage is that they tend to need mobility. And if you see how this product works, they just have to be in Portugal for 35 days in the course of five years, and then they will be eligible for permanent residence or a passport. Everything is mixed in a single product and is tax free, which is what they always look for. It is for people who want to have a plan B, or want to have another residence without too many strings.
Question: Why do many rich people seek to establish residence in other places these days?
Jason: This year is emerging as a record year for wealth migration. The latest studies expect around 142,000 individuals of Ultra Alto Heritage to move mainly from the United States, China, the United Kingdom, Brazil, India, South Africa and Vietnam..
The reasons why they are a mixture of things. One is all this global instability, and it is similar to how they used to have rich people in vacation houses; Now they want to have a second passport option for the family. In addition, perhaps their governments are becoming very heavy, such as what has just happened in the United Kingdom in recent months, for example, more than 10,000 billionaires have abandoned the United Kingdom mainly due to changes in the tax regime with the Labor Government. In China, it has to do with geopolitical changes and the desire to diversify in other assets. With Covid and the blockade that passed there for almost two years, many people of Net Ultra High Heritage in China want to have the option, if it happens again, to be able to climb a plane and go to Europe and not have to worry about getting a visa.
In the United States, it has to do with what has been politically happening because things have been polarized. People just want to have a safe output strategy if they need it. Basically, it has to do with what is happening worldwide: the world becomes much more unpredictable and unstable. Portugal is now a well -established safe shelter.
Question: How Fundbox, the KvarnPortugal Fund Manager, differs from its rival asset administrators?We are very careful with incorporation customers. We ensure that everything is done correctly with due diligence, following all the regulations of the Portuguese regulator. No matter where and how much money you have: if you do not conform to the legal criteria, you are simply not allowed to invest. There is a great team. There are about 33 people in the office and it is a multidisciplinary company. Therefore, we have lawyers, compliance officers, the incorporation team, etc. In addition to investment administrators.
Ask: Do you have to be a gold visa candidate to invest in your background?No, the fund is not only open to ultra high individuals of net patrimony. The minimum investment is 100,000 euros. Therefore, it is executed similar to an ETF such as Blackrock, for example, where you can put in lower quantities. And if you only want to sit there and have your cryptographic investment completely administered, then it is an easy way to do so.
For more information, visit: https://www.kvarnportugal.com/.
The opinions and opinions of the authors are their own and are not associated with Coindesk indices. The interview was conducted by the Coindesk indices and is not associated with the Coindesk publishing house.
