With real estate you will pay more taxes (acquisition tax around 6% and 0,8% stamp duty tax) and also tax on income generated by your property in the future at a tax rate of 28% (need to do a tax return in Portugal).

With investment fund you will have no tax and distribution of dividends are not taxed unless you live in a country which is considered to be a tax heaven in the eyes of the portuguese law.

Note: If you are "US Person" you might check with our financial advisors if the fund can be qualified diferently and be more tax friendly in the eyes of the US law.

Feel free to contact us: 

https://www.dumontdossantos.pt/goldenvisaportugal

info@dumontdossantos.pt 

+351 96 505 10 25