Mr. Jerry Morgan, RCIC, M.B.A., President of Mercan Group

Following our announcement of TIMC expanding our products to cover many of our esteemed customers' beliefs, we are delighted to launch the first approved Shariah-Compliant Investment Fund for the Portugal Golden Visa Program!

On this occasion, we are honored to share our interview with our partner Mr. Jerry Morgan, President of Mercan Group of companies, a pioneer of the Portuguese Shariah-Compliant Program.

TIMC: Dear Mr. Morgan, thank you for this exclusive interview.
Can you please explain Mercan’s Hospitality Investment Equity Fund and how it functions as a vehicle for our investors to obtain European residency with a clear path to citizenship?  

J. M.:  We have set up a fund focused on investing in companies that will manage and operate the latest hospitality projects that we are developing. This will allow investors to not only apply for the Golden Visa, but to do so with a buyback and stable returns. This offers peace of mind while focusing on one of Portugal’s most stable and fastest growing industries.

Investors in this fund can apply for the Golden Visa, and after 5 years will be eligible to apply for citizenship. Afterwards they can exit and get their investment back alongside their citizenship. For all our projects, we partner with the largest and most successful international hotel and hospitality brands worldwide. This provides additional security and helps ensure the long-term success of the projects.

TIMC:  Why did you choose to offer a Shariah-Compliant Portugal Golden Visa Program?

J. M.:  This is of great importance to some of our clients and we wanted to ensure that there was a product that they could also be able to participate in. Our certification of Shariah Compliance offers Muslim customers peace of mind and assurance that they are following the teachings of their faith whenever they consider investment options.

TIMC:  As a pioneer of the Shariah-Compliant Portugal Golden Visa Program (First to Market), what impact do you think this offer will have for our esteemed customers?

J. M.:  This offering provides an opportunity for investors who adhere to Islamic principles to participate in the PGV while ensuring their investments are Shariah-Compliant.

By being the first to market, we can attract a new segment of investors who value ethical and religious considerations in their investment decisions. This move not only demonstrates our commitment to diversity and inclusivity but also positions us as leaders in providing tailored solutions that meet the specific needs of our clientele. 

TIMC:  Can you explain how this offering fits in and aligns with Shariah principles?  

J. M.:  The Mercan Private Equity Fund I aligns with shariah principles as Class A1 shares are based on the Sukuk Al-Ijarah model providing fixed return on limited investment. It's like a rental agreement for investors that follows Islamic finance rules. As for Class A2 shares, being based on the Musharakah model with profit/loss sharing after completing five years of the project. Musharakah (sharing in Arabic) is a joint-partnership arrangement in Islamic finance in which profits and losses are shared. Profits from interest are not permitted in Islamic practice, necessitating the need for Musharakah (sharing).

TIMC:  What would be the main differences with the regular Program?

J. M.: There will be no differences in how the program is done itself. It does require a few things on our side with regards to compliance with the requirements for the designation, but it is something we are happy to comply with in order to help our clients take advantage of this great program.

TIMC:  How does this offering fit with TIMC's holistic approach of geographically diversifying family’s assets and citizenship to better withstand global uncertainties?

J. M.: We believe that this offering is perfectly in line with TIMC’s holistic approach to wealth preservation, and this will help an ever-growing network of families to diversify their global footprint in this ever-changing world.

TIMC:  We would like to take this opportunity to congratulate you on Mercan's 35th anniversary! In a few words, can you share with us your thoughts on this major milestone?

J. M.: It has been an incredible ride! On this particular year, with such an important milestone, we reflect on all the amazing work our team has done, all the families we have helped, and all the amazing things we have achieved.

And we take this opportunity to look forward to the future with many new projects on the way and many more families and clients we will continue to be able to help.

TIMC:  Thank you Mr. Morgan for your answers.

If you would like to learn more about our Shariah-Compliant offering for the Portugal Golden Visa Program, CLICK HERE.