More than three decades after its founding, Mercan Group has evolved into an international company operating across investment immigration, hospitality and skilled recruitment, with offices spanning Canada, Portugal, Greece, Panama and several countries across Asia and the Middle East.

Today, the Montréal-headquartered company continues to expand its global footprint while building on more than a decade of experience in Portugal.

Growth in Portugal

Mercan’s breakthrough in Portugal came in 2015 when the company entered the country’s Golden Visa programme, becoming among the first to develop group investment projects that allowed multiple investors to participate in the same development.

The concept was new, and Portuguese authorities had no previous experience with the investment model, while potential investors questioned whether the concept would work in practice.

Founder and CEO Jerome Morgan says: “Frankly speaking, at the time, nobody knew what we were doing or how it would work. That was true for us, for the government and for the customers. So, we ventured where nobody had gone before.”

Although the first projects took time to gain momentum, Morgan says they established the foundation for Mercan’s continued expansion in Portugal.

The company experienced its strongest period of growth during the COVID-19 pandemic, when virtual meetings transformed the way it connected with international investors. Today, Mercan has developed a portfolio of 32 hotel projects across Portugal, with 15 already operating and the remainder under development. “We have a presence throughout the country, and we’re proud of that,” Morgan says.

Portugal also marked an important stage in the company’s development, expanding beyond investment immigration into hospitality ownership and operations while continuing to build on its original expertise in international mobility.

Building a trusted business

Morgan attributes Mercan’s growth not only to business strategy, but also to the people who helped build the company: “As we grew, the thing that really struck me was getting people that are better than you to work with you. The smarter and better the people you bring on board, the better the company will be.”

In an industry where clients are often making life-changing decisions in unfamiliar countries, confidence in the company is essential: “We’re dealing with people in many different countries, maybe some of them don’t even speak your language, and they’re having to trust you with their futures.”

Morgan says maintaining strong ethical standards has contributed to the company’s continued growth, with referrals becoming one of its most valuable sources of new business: “Our business runs on referral… A referral really is a signal of your success.”

Expanding internationally

Following its success in Portugal, Mercan continued to broaden its international footprint, identifying new opportunities in Greece and Panama while reinforcing its long-term commitment to the Portuguese market.

In Greece, the company expanded its investment offering through Keranis Residences, a large residential development in Piraeus that reflects Mercan’s strategy of applying its experience to new markets while responding to evolving investor demand.

In Panama, Mercan became the strategic partner for the country’s Qualified Investor Program. Its presence in the market is further strengthened through the redevelopment of the Pullman Hotel and Residences, combining international hospitality standards with a diversified real estate offering. “So, we continue to diversify, which in any business is always good,” Morgan says.

Portugal, however, remains central to the company’s long-term strategy. Through Mercan Private Equity Fund II, the company remains active in Portugal’s hospitality and tourism sectors, building on more than a decade of experience in the Portuguese market.

Together, Pullman Hotel and Residences in Panama, Mercan Private Equity Fund II in Portugal and Keranis Residences in Greece reflect the company’s evolution from a single-market investment immigration business into an international group with hospitality, residential and investment activities across several markets.

Despite expanding into new markets and sectors, Morgan says Mercan’s approach has remained consistent: “We really structure our projects with security in mind. We don’t make grand promises or tell wild stories of high returns. We present things as they are, and that’s what people appreciate.”

As Mercan continues to grow internationally, Portugal remains one of the company’s strategic priorities, with Morgan emphasising that expansion into new markets has strengthened, not replaced, Mercan’s long-standing commitment to the country.

“We haven’t forgotten Portugal, and we’re still actively promoting the country and continue to go back to our roots,” Morgan concludes.