Frequently asked questions

Each bond pays a 1.25% fixed base coupon plus a share of the remaining rent profit. The combined target is about 3% a year (3.25% modelled), with a stress case of 2.2%. These are targets, not promises, and they are before tax.

See the numbers and assumptions.

Because the rent is capped at or below 80% of the local median, at least 20% below market. That is the trade-off you are choosing. We recover part of the gap through tax regimes for affordable housing, buying whole buildings below market, and an impact tranche that takes 0% and the first loss.

No. It is sized below the worst case we modelled (1.45%: only one tax regime, plus stress), so it should be payable in a bad year. If losses exceed that, it cannot be paid.

Yes. Bonds are secured by a mortgage on the building, and a 25% impact tranche absorbs losses first. If values fall far enough, or the building company fails, you can still lose part or all of what you invested. Read the risks.

Coupons are taxed at source: 28% withholding for Portuguese residents, 25% or the applicable treaty rate for non-residents. Your own tax position may differ; ask a tax adviser.

Quarterly, after the first full quarter of rent, in euro by SEPA bank transfer or in EURC (a regulated euro stablecoin) to your verified wallet. Each payout comes with a building report.

Pedro Correia's operating company manages the property for a cost-based fee, disclosed as a related-party service, and co-invests 5% on the same terms as everyone else. It also earns 20% of distributable cash above a 3% payout to holders; below 3%, nothing. There are no free tokens for the team.

No. Nothing is on sale and no money is being collected. The offer will open only on a licensed EU crowdfunding platform, after counsel has signed off the structure and a building is under a conditional contract. Join the waitlist to hear first. See where the project is.

Residents of the EU and EEA, through the crowdfunding platform. Each bond is €100. People in the United States and the United Kingdom cannot invest. If you are not a sophisticated investor and invest more than €1,000 or 5% of your net worth, the platform shows a risk warning and gives you a 4-day reflection period.

You can sell to other verified investors on the platform's bulletin board. There is no buy-back at launch, so you may not find a buyer quickly. Only invest money you can leave in for the 10-year term.

When 3 to 5 buildings are running, we may offer holders an exchange into a larger pooled vehicle with better economics and liquidity. It is opt-in, priced by independent valuations, and anyone who declines keeps their bond or is repaid at €100 face value. Details.

Money is held in escrow by the platform until the minimum is reached and refunded otherwise. The building purchase is conditional on funding.

LAR is a bond issued by the Portuguese company that owns the building. A blockchain is used as the official register of who owns which bond, which Portuguese law allows (DL 171/2026). It can only be held by verified people and moved between verified wallets. You can be paid in euro by bank transfer and never touch a wallet.

A public, tamper-evident register of holdings and payouts; cheap quarterly payments to many small holders; and transfers between verified investors without a broker. Each payout links to its building report, so anyone can check that what was paid matches the rent received.

Your holding can be recovered after you re-verify your identity. The token standard (ERC-3643) supports recovery for exactly this reason.

No token is sold besides the bonds. Holders and tenants receive free, non-transferable voting points for social questions such as tenant criteria and the next city. They are never sold and carry no money rights.

Tick "Renting a home" on the waitlist. When homes become available, eligible households are invited to apply, and homes are allocated by lottery among eligible applicants when oversubscribed.

At or below 80% of the INE municipal median per m², under Portugal's affordable-rent regime (RSAA), and kept at 15–35% of household income. Leases run at least three years, and yearly increases are capped by the legal coefficient.

One building of about 15–18 two-bedroom flats in Coimbra or Leiria, whichever council votes the CIA tax benefits first. Lisbon does not work yet: capped rent there yields under 1%.

The pilot buys an existing or vacant building. Renovating vacant stock adds homes back to the market, and Phase 3 targets new building on leased public land under the CIA regime.

Pedro Correia, who owns and manages 15 rental apartments in Portugal. Counsel, auditor, valuer, bondholders' representative and platform are being selected and will be named when appointed. Team and contact.

Not yet, because nothing is offered yet. The offer itself will run through a crowdfunding service provider licensed under the EU ECSP Regulation, with a Key Investment Information Sheet. This website is information and a waitlist only.

Portugal's 2026 housing law created two regimes that make affordable rent workable: an income-tax exemption for capped rents (RSAA) and purchase and property-tax relief for long-term rental investment (CIA). Its securities law also allows bonds to be registered on a blockchain. And it is Pedro's home market.

A pooled fund needs a licensed manager and costs more to run at this size. A single-building bond fits EU crowdfunding today, lets you choose the building you fund, and keeps you a secured creditor. Pooling comes later, opt-in, once 3 to 5 buildings are running.

A working name: "lar" means home in Portuguese. It may change after trademark checks.