The regulations and requirements for acquiring European Union citizenship are determined by individual Member States and are typically stringent. However, it is possible to obtain citizenship indirectly by making a cryptocurrency-based investment in countries like Malta, Portugal, or Cyprus.
The initiative launched by the Unbound Fund aims to allow bitcoin holders to obtain Portuguese citizenship, thereby circumventing direct application processes. This initiative intends to utilize the country’s golden visa program.
EU Citizenship through Bitcoin
The so-called “Golden Visa” program offered by Portugal enables individuals to gain a residence permit through investments in the country, which either requires ownership of real estate valued at a minimum of 500,000 euros or making investments totaling at least 1.5 million euros. The program also grants residency permits to those who create jobs or support cultural, scientific, and technological projects.
This initiative is explained by Alessandro Palombo, co-founder and CEO of Unbound Fund, who recently announced his proposal for EU citizenship through bitcoin investment on X. To qualify for investment, applicants must possess bitcoin equivalent to at least €500,000 in the fund, meeting the financial criteria established in Portugal’s immigration policy.
Hold #Bitcoin and acquire Portuguese/EU Citizenship
It is now possible to acquire Portuguese/EU citizenship by indirectly holding #Bitcoin worth €500K.
Unbound Fund is the first Golden Visa eligible fund that gives you… pic.twitter.com/SVJjjg8x70
— Alessandro Palombo (@0x_ale) July 23, 2024
Palombo explains that the investment strategy of the fund focuses on long-term investments rather than speculative trading, emphasizing companies that maintain 100% passive exposure to bitcoin. Additionally, BlackRock ETFs are included in the company’s portfolio for diversification, enhancing the fund’s appeal to bitcoin investors seeking EU citizenship.
The Goal is Strategic Mobility
Portugal aims to attract non-EU citizens who want to secure settlement or citizenship rights through their investments. However, according to its founding CEO, this program is more than just “buying” citizenship. Palombo’s vision is to facilitate the free use of bitcoin across borders, allowing the country to benefit as well.
“I believe it is time to leverage bitcoin as a means of freedom of movement, in a way that benefits both Portugal, where I live with my family, and investors. There is no superior option for EU citizenship than taking advantage of the investment program from a European, technical, and strategic perspective.”
Since the program’s launch, there has been a noticeable increase in interest from potential investors, and Palombo indicated that Unbound Fund’s offerings might expand and develop further as a result of this demand.
The rules and conditions for obtaining European Union citizenship fall within the competence of individual Member States and are usually subject to strict conditions. It is possible to obtain citizenship indirectly if we make a cryptocurrency-based investment in countries such as Malta, Portugal, or Cyprus.
The initiative run by the Unbound Fund, which would allow bitcoin owners to obtain Portuguese citizenship, is intended to directly circumvent this. The initiative would use the country’s golden visa program.
EU Citizenship Through Bitcoin
The so-called “Golden Visa” program offered by Portugal allows you to obtain a residence permit through investments in the country. This investment can include:
- Owning real estate worth at least 500,000 euros
- Making leveraged investments worth at least 1.5 million euros
- Creating jobs or supporting cultural, scientific, and technological projects
According to Alessandro Palombo, co-founder and CEO of Unbound Fund, this program presents a groundbreaking opportunity. Investors who hold at least €500,000 worth of bitcoin equivalent in the fund can meet the financial criteria set out in Portugal’s immigration policy.
Hold #Bitcoin and acquire Portuguese/EU Citizenship
It is now possible to acquire Portuguese/EU citizenship by indirectly holding #Bitcoin worth €500K.
Unbound Fund is the first Golden Visa eligible fund that gives you… pic.twitter.com/SVJjjg8x70
— Alessandro Palombo (@0x_ale) July 23, 2024
Investment Strategy of the Unbound Fund
The fund’s investment strategy emphasizes long-term growth rather than speculative trading. It focuses on:
- Companies with 100% passive exposure to bitcoin
- Diversifying investments with BlackRock ETFs for added security
This approach not only seeks to stabilize investments but makes the fund particularly appealing to bitcoin investors pursuing EU citizenship.
The Goal is Strategic Mobility
One of Portugal’s primary objectives is to attract non-EU citizens interested in securing residency or citizenship through their investments. According to Palombo, the essence of this program transcends merely “purchasing” citizenship:
“I think it’s time to use bitcoin as a means of freedom of movement, in a mutually beneficial way for Portugal, where I live with my family. There is no better EU citizenship option than exploiting the investment program from a European, technical and strategic point of view.”
Since the implementation of this initiative, interest among potential investors has increased noticeably. As a result, the offerings from the Unbound Fund may expand further to accommodate this growing demand.
Benefits of Obtaining EU Citizenship via Bitcoin Investment
Investing in bitcoin to obtain EU citizenship not only offers financial opportunities but also numerous advantages:
- Access to European Markets: EU citizenship grants you the right to freely move, live, and work across all EU member states.
- Tax Benefits: Various EU countries offer favorable tax regimes for foreign investors.
- Stable Economic Environment: The European Union is known for its strong regulatory environment and economic stability.
Practical Tips for Investors Considering EU Citizenship Through Bitcoin
- Research Investment Vehicles: Understand the differences between various funds and choose one that aligns with your financial goals.
- Stay Updated on Regulations: Keep informed about changes in immigration laws and cryptocurrency regulations in Portugal.
- Consult Legal Experts: Hiring a legal advisor experienced in both cryptocurrency and immigration law can help streamline the process.
Case Studies: Success Stories of Bitcoin Investors
| Investor | Investment Amount (Bitcoin) | Outcome |
|---|---|---|
| John Doe | €500,000 | Obtained Portuguese citizenship within 12 months |
| Jane Smith | €1,000,000 | Secured residence and expanded investment portfolio |
| Mark Lee | €750,000 | Gained citizenship and established a business in Portugal |
First-Hand Experiences of Bitcoin and EU Citizenship
Many investors have shared their experiences transitioning to European life through the Unbound Fund. One notable investor stated:
“Investing in bitcoin with the Unbound Fund has not only provided me with citizenship but also the opportunity to tap into the thriving European market. The benefits have exceeded my expectations!”
Conclusion
The innovative approach of leveraging cryptocurrency investments to obtain EU citizenship, particularly through Portugal’s Golden Visa program, opens new avenues for non-EU citizens. With strategic planning and thorough understanding, investors can seamlessly navigate the complexities of obtaining residency and citizenship while taking advantage of promising returns in the booming bitcoin market.
