D2 VISA, D7 AND GOLDEN VISA

D2 VISA

Better known as a residence visa for entrepreneurs, the D2 visa is an interesting option for foreigners who are citizens of outside the European Union and who want to start a business in Portugal or work as a liberal professional.

Start a business:

For those wishing to start a business, it will be necessary to form a company to apply for a D2 visa, with most D2 visa applicants choosing to form a limited liability company (with one or more partners) as a means of obtaining this visa.

In Portugal, the minimum share capital for a limited liability company is €1 (one euro) per shareholder. However, for the D2 visa to be successful, ideally, the candidate for the D2 visa should have a social contribution of at least €5,000.00 (five thousand euros) and that this amount should have been deposited in the account company bank.

Independent worker:

For those who intend to carry out an activity as a self-employed person/liberal professional, it will be necessary to have a contract for the provision of services in Portugal and, depending on the profession in question, prove qualification for the exercise of that profession.

D7 VISA

The D7 visa is an interesting option for foreigners who are citizens from outside the European Union and who have their own income from a retirement pension (retirement), movable or immovable property, intellectual property or financial investments.

To apply for the D7 visa, it will be necessary to prove that the monthly income is equivalent to at least one Portuguese minimum wage (currently €760.00).

However, if the intention is to apply for family reunification, the calculation of the amount to be received monthly should take into account the following:

For each adult to regroup: Add another 50% of the Portuguese minimum wage;

For each child to regroup: Add another 30% of the Portuguese minimum wage.

Therefore, the number of family members who go to Portugal through family reunification will directly affect the final amount that must be proven by an applicant for a D7 visa.

GOLDEN VISA

Unlike the options mentioned, the Golden Visa or residence permit for investment activity (ARI) is not a visa, but a residence permit requested directly in Portugal from the Foreigners and Borders Service.

The Golden Visa is an interesting residence permit for foreign citizens from outside the European Union who wish to invest in Portugal. But it is not just any investment that will allow the application for this residence permit.

To become eligible for the Golden Visa, the applicant must meet one of the following conditions:

Capital transfer in an amount equal to or greater than €1,000,000.00;

Creation of at least 10 jobs, and corresponding enrollment of workers in Social Security;

Acquisition of Real Estate with a value equal to or greater than €500,000.00;

Acquisition of real estate, whose construction has been completed at least 30 years ago or located in an urban rehabilitation area and carrying out rehabilitation works on the acquired real estate, in a global amount equal to or greater than € 350,000.00;

Capital transfer in an amount equal to or greater than €350,000.00, which is applied in research activities carried out by public or private scientific research institutions, integrated in the national scientific and technological system;

Capital transfer in an amount equal to or greater than € 250,000.00 that is applied in investment or support to artistic production, restoration or maintenance of national cultural heritage;

Transfer of capital in an amount equal to or greater than €350,000.00, intended for the acquisition of participation units in investment or venture capital funds;

Capital transfer in an amount equal to or greater than €350,000.00, intended for the formation of a commercial company based in Portugal, combined with the creation of five permanent jobs.

WHAT ARE THE DIFFERENCES BETWEEN THE D2 VISA, THE D7 VISA AND THE GOLDEN VISA?

Visa x Residence Permit

The visa is an authorization that allows foreigners to enter Portugal and is issued by the Consulate/Embassy of Portugal (or that represents the Embassy of Portugal). In the specific case, the D2 visa and the D7 visa are part of the long-term visas/visas to obtain a residence permit, which have the clear objective of allowing foreigners to enter Portugal to obtain a residence permit. Therefore, it is a prerequisite for the application for a residence permit.

The residence permit allows the foreigner to reside in Portugal and is requested from the Foreigners Services in Portugal. The Golden Visa is a residence permit that does not presuppose a prior application for a residence visa.

Procedure

Both the D2 visa procedure and the D7 visa procedure start at the Consulate/Embassy of Portugal with the submission of the visa application. After approval, the visa is affixed to the applicant's passport with a validity of 120 days, allowing up to two entries into the country. During this period, the applicant must travel to Portugal to personally apply for the residence permit.

The Golden Visa procedure, in turn, begins at the Foreigners and Borders Service with the submission of the necessary documents for a pre-analysis and continues with the face-to-face interview for the application for a residence permit.

With the entry into force of the 2020 State Budget, the first residence permit will be valid for two years and renewable for three years. These deadlines are valid for the D2 visa, the D7 visa and the Golden Visa.

Minimum stay in Portugal

After obtaining the residence permit based on the D7 visa or the D2 visa, the foreign citizen must not be absent from Portugal for more than 6 (six) consecutive months or 8 (eight) interspersed months.

In the case of the Golden Visa it is different. Foreign citizens holding a residence permit based on the Golden Visa must be in Portugal for 7 (seven) days in the first year and for 14 (fourteen) days in the two subsequent years.

Documentation

All visa and residence permit applications depend on the presentation of a series of documents. Depending on the reason for the request, the main documents will be different.

In the case of the D2 visa for an independent worker (liberal/self-employed professional), it will be necessary to present the contract for the provision of services and, depending on the profession, the proof of qualification for the exercise of that activity.

In the case of the D2 visa to start a business, it will be necessary to prove that you have carried out investment operations through the incorporation of a company in Portugal.

In the case of the D7 visa, it is essential to prove the income received abroad, and the documentation may be different depending on the type of income. Therefore, it may be necessary to file income tax returns, bank statements, etc.

In the case of the Golden Visa, it is essential to prove that the investment in one of the options mentioned above has been made, using funds from abroad for this purpose. Here too the documentation will vary according to the type of investment. For example, in the case of property acquisition, it will be necessary to present, among other documents, the public deed or the promissory contract of purchase and sale and the permanent certificate of the property.

Exercise of professional activity

The D2 visa and the Golden Visa have always allowed the exercise of professional activity, and, in the case of the D2 visa, work is intrinsic to the application made.

In the case of the D7 visa, it is not allowed to work during the validity of the visa. However, after obtaining the residence permit, the holder of a residence permit based on the D7 visa will be able to carry out a professional activity, if he so wishes or deems it necessary.

COMMON BENEFITS RELATED TO THE D2 VISA, D7 VISA AND GOLDEN VISA

There are many benefits of the D2 Visa, the D7 Visa and the Golden Visa, the main ones being:

Possibility of entering Portuguese territory without a visa;

Circulate freely in the Schengen Area, made up of 26 European countries, without a visa;

Live and work in Portugal (Remembering that, in the case of the D7 visa, only after obtaining the residence permit);

Benefit from family reunification, including the spouse; minor children; single adult children who are dependent and are studying in Portugal, except in the case of the Golden Visa, in which the adult child can study anywhere in the world; 1st degree ascendants of the applicant or dependent spouse; and younger siblings who are under the resident's guardianship;

Become eligible for permanent residence after five years of temporary residence, in compliance with the legal requirements currently in force;

Become eligible for Portuguese nationality after five years of residence, complying with the legal requirements in force.

Note that the Golden visa also has one more very interesting benefit that embodies the reduced obligation of a minimum stay in Portuguese territory, since the applicant will have to stay a minimum of 7 days during the first year after obtaining the residency, and 14 days in the subsequent two years.