An IMGW News Report
At IMGW.news, we shine a spotlight on companies revolutionising their fields through innovation and business foresight. In this article, we invite you to join us for an insightful conversation with Nathan Hadlock, Director of Pela Terra in Portugal. Discover how sustainable agriculture is creating new pathways for those seeking the Portuguese Golden Visa and uncover the rewarding opportunities that await in this evolving landscape.
In recent years, the Golden Visa programme in Portugal has come under significant scrutiny for its detrimental impacts on local communities and the environment. However, Pela Terra is at the forefront of pioneering a transformative model that champions a ‘Golden Visas for Good’ approach.
A Disruptor in Investment Migration
Since 2020, Pela Terra has committed to creating a win-win scenario for all stakeholders: investors achieve low-risk, inflation-beating returns, the environment benefits from regenerative farming practices that sequester carbon and conserve water, and Portuguese society reaps rewards through job creation and access to quality food.
Furthermore, the emphasis on capital preservation remains paramount for investors seeking Golden Visa opportunities. As Nathan and business partner Alex Lawry-White discovered during initial conversations, the primary concern was straightforward: ensuring the return of their original investment at the end of their Golden Visa journey. Pela Terra excels in facilitating asset-backed investments within the resilient agricultural sector, providing a safe haven for capital while targeting returns that outpace inflation.
However, the journey to obtaining a Golden Visa is not without challenges. Many investors fall victim to inadequate advice during the application process, leading to frustrating delays. Pela Terra has witnessed this trend over the past four years and now collaborates exclusively with only a few trusted partners. Additionally, the company has established an in-house concierge service to guide investors through the complexities of fund investments, moving people from start to finish in as little as five weeks (when it normally takes 10-15).
“Should Trump win, there will likely be heightened interest in options like dual citizenship and investment migration among those feeling uncertain about the future. This trend highlights the importance of investment migration.”
The IMGW Interview: Sustainable Pathways to Citizenship
Gain deeper insights in our Q&A with Nathan, led by our editor Ray de Bono, as we discuss the evolving landscape of investment migration. Sustainable agriculture is emerging as a compelling option for those seeking Portuguese citizenship while prioritising capital preservation.
An asset-backed investment into a sector which hasn’t seen a year of negative value change since the 1990s is clearly attractive. One which targets inflation beating returns while creating positive environmental & social impacts really ticks all the boxes for a certain type of Golden Visa seeker.
As Portugal redefines its Golden Visa framework to prioritise ethical and environmentally conscious practices, sustainable agriculture emerges as the new gold standard for responsible investment.
For more information about Pela Terra visit www.pelaterra.com
Q&A Session
Q1: Market Resilience
🔍 Ray de Bono: Given the current volatility in global markets, how does Pela Terra position itself as a distinctive investment option for Golden Visa seekers?
💬 Nathan Hadlock: For Golden Visa investors, the main purpose behind this investment is ultimately to obtain a passport. Many investors express a desire to minimise risk. Agriculture is a unique asset class with extremely low volatility and consistent growth. Over the past 30 years, agricultural land has not experienced a down year in appreciation. In Portugal, we focus on premium agricultural land, particularly for high-value commodities like olives and almonds, benefiting from a supportive climate and robust water infrastructure.
Q2: Data-Driven Impact
🔍 Ray de Bono: The impact report outlines a target of 2.1 for zero hunger by 2030. How does Pela Terra contribute to achieving this goal through its investments?
💬 Nathan Hadlock: Our focus is on improving soil health, which is critical for nutritional density in food. For example, the nutritional quality of produce has drastically declined over the years. We measure progress through soil organic carbon (SOC), which indicates the health of the soil ecosystem. Simple practices like planting cover crops and minimising tillage can significantly enhance soil quality and biodiversity, ultimately supporting our goal of zero hunger. And it is a model that works for investors too. Improved soil health means greater nutritional density in the crops. Higher crop quality means higher returns. We are always looking for these win-wins, which are not hard to find in the sustainability space. What is good for the world, is normally good for investors too.
Q3: Sustainable Investment Model
🔍 Ray de Bono: How does Pela Terra serve as a model for countries seeking sustainable investment options?
💬 Nathan Hadlock: Portugal has a unique opportunity to channel incoming investment capital into sustainable practices. Unlike traditional real estate investments that often lead to inflated housing prices and displacement of the local population, our agricultural investments focus on job creation and positive environmental impact. Creating jobs in rural communities and transitioning conventional agricultural practices to sustainable ones can foster long-term benefits for both the investors and local communities. Golden Visa programs should be a win-win-win; for investors, for society and for the environment. We believe our model at Pela Terra is demonstrating this is possible, without investors having to make trade-offs when it comes to risk & returns. Our hope is that other countries will see this model, and direct their citizenship programs in a similarly productive direction.
Q4: Alternative to Real Estate
🔍 Ray de Bono: As many countries face political resistance due to inflationary pressures caused by real estate investments, what advantages does Pela Terra offer as a more palatable option for Golden Visa seekers?
💬 Nathan Hadlock: While the real estate option sounded great on paper for investors, the reality (especially in the last few years) hasn’t always matched up. Buying property in a potentially overheated housing market is risky. Finding tenants in a foreign country which has complex renting laws can be a minefield. In contrast, the opportunity to simply invest your capital into a regulated fund, can provide a much calmer, lower-risk route to citizenship eligibility. We would like to think that Pela Terra operates at the calmest end of that spectrum.
The assets acquired by the fund also provide a very reliable source of income from which to pay an annual dividend. Our agri-business model not only provides a viable alternative that does not inflate local housing prices or displace residents, it also resonates with investors seeking ethical and sustainable investment opportunities that contribute positively to local communities.
Q5: Investor Awareness
🔍 Ray de Bono: What efforts does Pela Terra make to educate potential investors about the unique benefits of sustainable agricultural investments?
💬 Nathan Hadlock: We want our investors to feel completely comfortable before they decide to commit. Your first contact with the fund will be a 30-minute conversation with one of our experts, who can advise if the Golden Visa is the best choice for you, and give you an overview of Pela Terra and our investment strategy. The next step is then a call with myself or my co-founder Alex. That is your chance to ask all the questions you like, no matter how detailed.
The next step is to set you up with our Concierge Team. This is a service we’ve built in-house and offer for free. We guide you through every step of the application process, from helping you obtain a NIF to appointing the best lawyers and banks to work with.
If you’ve ever got a question or concern, you’ll have a single point of contact who will respond within 24 hours. So the education process really continues until you invest – and beyond actually! We love investors who stay engaged and want to learn more about what we’re actually doing with regenerative agriculture on the farms.
Q6: Community Engagement
🔍 Ray de Bono: How does Pela Terra engage with local communities in Portugal to ensure that the benefits of your investments are felt on the ground?
💬 Nathan Hadlock: We know that the positive impact we create at Pela Terra has to be more than just environmental. If citizenship via investment programs are truly going to become a force for good around the world, they have to create social impact as well. So we work hard to collaborate with local operators who have deep roots in the communities. By working with them, we ensure our investments are beneficial not just to our bottom line but also to the local populace. This ongoing dialogue allows us to adapt and improve our impact continuously.
Q7: Future Vision
🔍 Ray de Bono: Looking ahead, what is your vision for the future of sustainable investments in agriculture?
💬 Nathan Hadlock: We anticipate a shift towards recognising nutritional density as a critical factor in agriculture. In fact, we hope that one day – perhaps within the next decade – shoppers will be able to scan foods to see the nutritional density of each item. The knock-on effect of that will be that very quickly, consumers will value and pay premiums for genuinely healthier food options. This could significantly transform agricultural practices, benefiting both the land and the people.
Q8: Why Agriculture?
🔍 Ray de Bono: Given the economic volatility over the past 15 years, what specific attributes of agriculture make it a reliable investment choice compared to other asset classes?
💬 Nathan Hadlock: There are two market forces which create this reliability. The first is simple – a growing global population creates an ever-increasing demand for food. At the same time, each year we have less and less irrigated farmland available to grow & supply this food, thanks to the effects of climate change.
“The primary risk is water availability. We mitigate this by investing in irrigated regions with robust water resources.”
The primary impact of this is that irrigated farmland is becoming an increasingly sought-after investment. There is a reason why Bill Gates and Warren Buffet have been buying large tracts of irrigated farmland in the US. If you look at the amount of institutional investing coming into Portuguese and Spanish farmland in the last three years, it has increased by 120%. This clearly creates upward pressure on prices, making it a reliable investment. There is no reason to think this trend will reverse anytime soon.
But if you can regenerate the farmland that you are buying, improve the soil health and in doing so, improve the yield per hectare of that land, then you are able to both safeguard the annual income of the farms, and improve the market value at the same time.
Combined, the market forces and operational efficiencies created by regenerative agriculture, create a compelling investment case for risk-adverse Golden Visa applicants
Q9: Risk Assessment
🔍 Ray de Bono: What are the inherent risks associated with investing in agriculture? How does Pela Terra mitigate these risks?
💬 Nathan Hadlock: The primary risk is water availability. We mitigate this by investing in irrigated regions with robust water resources. We focus on buying farms which sit within the catchment area of one of the largest reservoirs in Europe, meaning we have water security for the next three years should there be no rainfall in Portugal. Additionally, we stay ahead of regulatory changes that promote environmentally friendly practices, which can unlock subsidies and support for our projects.
We’re often asked about the risk of wildfires, which is understandable given the high profile nature of fires in this part of the world recently. But irrigated farmland is rarely found in regions where there is wildfire risk and none of our farms are vulnerable. Modern farms have roads around and through them which form fire breaks – and with the modern irrigation systems there is nothing really dry to burn anyway.
Q10: Political Climate and Investment Risks
🔍 Ray de Bono: Given the current political climate in the US and the potential re-election of Donald Trump, what risks do you foresee for investors considering agricultural investments with Pela Terra?
💬 Nathan Hadlock: Should Trump win, there will likely be heightened interest in options like dual citizenship and investment migration among those feeling uncertain about the future. This trend highlights the importance of investment migration. At Pela Terra, we emphasise that agricultural investments can provide stability and resilience in uncertain times, making them a favourable choice for those looking to hedge against potential risks.
Make Your Backup Plan a Green One
Pela Terra is expertly positioned to meet the needs of investors, particularly US ones, with a knowledgeable team skilled in structuring investments that comply with Passive Foreign Investment Company (PFIC) regulations. This expertise enables American investors to engage confidently in Portugal’s thriving sustainable agriculture sector without the usual complexities of overseas investments.
Despite challenges, such as financing for small and medium farms and the need for stronger markets for sustainably produced products, opportunities abound. With €1 billion in CAP funding for eco-schemes and a growing bio-economy, the potential for growth is substantial.
As the saying goes, “The best time to plant a tree was 20 years ago. The second best time is now.” With Pela Terra, Golden Visa investors can cultivate a greener tomorrow, making sustainability the clear choice today.
Points to Ponder: Industry Pioneers
1. Pela Terra launched Portugal’s first, and now largest agriculture fund, in 2021. Following the over-subscription of that first fund ‘Pela Terra II: Regenerate’ launched in 2023, from the same management team, with the addition of Portugal’s ex-Minister of Agriculture.
2. Pela Terra funds exist to protect your capital as you proceed through Portugal’s Golden Visa program. The funds are designed to minimise risk and maximise predictability through low-risk investments selected for slow and steady price growth.
3. The Pela Terra project focuses on large-scale operational farms, containing millions of trees in olive and almond orchards. These assets have uniquely low volatility – much steadier than traditional “Safe Haven Assets” like gold and the US Dollar – providing a prudent choice for protecting capital.
Essential Data:
• Assets Under Management: €45 million+
• Trees planted last year: 600,000
• Hectares under management in Portugal: 1000+ ha
• Investors assisted through Golden Visa: 150+
• Target Returns:
- Liquidation payout: 15%+ when the fund closes (in addition to annual payouts)
- Annual payout: 5%+ per year
Are you interested in learning more about this opportunity?
📞 If you would like to speak with Pela Terra about their Golden Visa investment opportunities, you can book a meeting with them via this link: Book a meeting with Pela Terra. Or you can send them a message on Whatsapp at +44 7768 929321
For more information about Pela Terra visit www.pelaterra.com
About Nathan
Nathan Hadlock grew up with agriculture in his blood as part of an Ohio farming family. After spending time in Silicon Valley as an engineer specialising in soil technology, he moved to Portugal in 2019 to pursue his passion of scaling sustainable farming practices in the Iberian peninsula. He is now the Managing Director of Pela Terra.
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