Service businessNov 12
Portugal Golden Visa Advisory with Lawyer-Verified Fund Directory
Contracted lawyers sell and deliver Portugal Golden Visa advice to American families, and partner funds pay the business a commission on the roughly $580K each family invests.
- Ask
- $925K
- Profit
- $300K
- Multiple
- 3.1x
- Ask
- $925K
- Revenue
- $638K
- Profit
- $300K
- Margin
- 47%
- Multiple
- 3.1x
- Age
- n/d
How it rates
ValuationFair
Similar online service businesses we've tracked mostly ask 2.7–4.3x profit; this one asks 3.1x.
Durability
Earns fees and fund commissions from many families, but nearly all of it depends on Portugal's Golden Visa rules.
Hands-off
The owner hasn't taken a sales call in 3 years and only handles light admin and financial oversight.
Why it's interesting
- It is paid twice per client: an engagement fee of $7K–$15K, then a placement commission of 5%–10% on the roughly $580K the family puts into a partner fund. Fund commissions were 49% of revenue in the last 12 months.
- Two partner funds keep paying commission for as long as the client's money stays invested, which has historically been about seven years.
- Its own directory of Golden Visa funds, checked by lawyers, brings in about 25% of new inquiries. AI assistants send about 10% of leads, and those convert at roughly three times the site average.
- Inquiries are registered with partner funds before the first call, so the commission is still paid if another firm handles the visa.
- The owner has not taken a sales call in three years, and the team runs its own daily standup.
What to watch
- Revenue rests almost entirely on one government program. Portugal changed it in 2023 so that it now runs through funds, and the Greece site is new.
- Commissions depend on families actually investing, so revenue is likely uneven from quarter to quarter. Only two partners pay the recurring commission.
- Contracted lawyers do all the selling and delivery, and the listing doesn't say what keeps them working for a new owner.
- Taking placement commissions on fund investments by US clients may raise securities-licensing questions, and the listing doesn't say how this is set up.
- The listing gives no founding date and no revenue history before the last 12 months.
Ask the seller
- What were revenue and the number of new clients in each year since the 2023 change to Portugal's program, and when did the business start?
- How much of the past 12 months' commission came from recurring payments on earlier placements, and how many years of that recurring commission remain on current investments?
- What contracts bind the lawyers and partner funds after a sale, and do any regulators license or restrict the placement commissions?
Growth plays
- Charge fund managers for the lawyer-run verification review or a paid directory listing. The listing says both are built but have never been switched on.
- Offer Portuguese tax representation to the 100+ client families already in the program.
- Build referral partnerships with US wealth managers and family offices whose clients ask about EU residency.
Nov 13Added to Acumen Wire