Portugal
Analysis of the most relevant regulatory and tax aspects
The formation of alternative investment funds (“AIF”) is expanding both nationally and internationally. In Portugal, the applicable legal regime enables the formation of different and flexible AIF types, adapted to different investment profiles and market needs.
Currently, four main AIF categories can be formed in Portugal, depending on the investment’s main purpose:
- Real estate AIF
- Venture capital AIF
- Loan AIF
- Flexible AIF, enabling investment in securities and other financial or non-financial assets, including less liquid assets such as shares in companies, real estate, credits, or debt instruments.
This document summarizes the main legal and operational aspects of forming and operating AIF in Portugal, focusing on the different types and their characteristics.