Portugal D2 Visa: Entrepreneur Visa

What is D2 Visa in Portugal?

The Portugal D2 Visa is a viable means of becoming a permanent resident and citizen in Portugal. This visa is for entrepreneurs, freelancers, and independent service providers who plan to move to Portugal.

The Portuguese government offers D2 visa to encourage foreign entrepreneurs to invest and create businesses contributing to the Portuguese economy, technology, and culture.

Eligibility Requirements for Portugal D2 Visa

You are eligible for this Portuguese entrepreneurship visa if you are a citizen from countries outside the EU/EEA or Switzerland. Moreover, you must intend to relocate and operate a business in Portugal by:

• Starting a new business
• Setting up a branch of an existing foreign business; or
• Investing in a current Portuguese company

Required Documents for the Portugal D2 Visa

Your visa approval depends mainly on the Portuguese immigration authorities’ interpretation of your submitted documents. So, having credible applications and supporting documents is critical in securing a favourable decision.

You must submit the following documents with your D2 visa application:

Proof of Financial Resources

Applicants for the Portugal D2 visa must prove that they have enough resources to sustain themselves and their families during their stay in Portugal.

You can prove this by showing bank documents validating 12-months savings equivalent to Portuguese minimum wage. The Portuguese minimum wage is €870 per month, or €10,440 per year for the main applicant.

Existing Business Plan

The Portugal government’s primary objective in offering this visa is to raise external resources for developing the country’s economy.

This means entrepreneurship visa applicants must have a solid business plan and investment commitment.

The D2 visa applicants will use the business plan to prove the viability of their business. They must also show that the company has economic, social, scientific, technological, or cultural relevance to the country.

An entrepreneurship visa is an attractive option for business owners looking to immigrate to Canada as it does not limit the type of business to launch in Portugal.

Criminal Record Certificate

You must also secure a Certificate of Criminal Record from the competent authority of any country you’ve lived for more than one year. The Portugal immigration authorities require the document to be not more than three months old.

Valid Travel Medical Insurance

You are entitled to Portuguese state healthcare once you get your residency permit. The authorities require you to secure valid travel insurance to serve as your protection in instances of delay in the insurance of the resident permit.

Proof of Accommodation in Portugal

Proof of accommodation refers to documents proving that you have a place to stay while in Portugal. Some examples of proof of accommodation include a rental contract and deeds to the property. It can also be a letter of invitation from a legal resident of Portugal, inviting you to stay with them.

Benefits of the Portugal D2 Visa

Visa Exemption and Travel Rights in the Schengen Area

A holder of a Portugal D2 Visa may travel not only in the Portugal territory but also to the other 26 Schengen countries by just presenting your immigrant entrepreneur visa.

The visa exemption is perfect for entrepreneurs looking to travel across Europe to build a network and business connections.

Family Member’s Residency Rights

The approval of your D2 visa allows you to bring your family to Portugal. However, you may need to submit credible documents to prove your relationship with a family member included in the family reunification grant.

D2 Visa Leads to Permanent Residency

The D2 visa is valid for only 120 days. You must immediately book an appointment with the Foreigners and Borders Service (SEF) to secure a residency permit. You can apply for a permanent residency in Portugal after a 5-year mark period.

D2 Visa Leads to Portuguese Citizenship

You can apply for Portuguese citizenship after 5 years of being a legal resident in Portugal. It would be best if you learned the Portuguese language with an A2 proficiency, have a clean criminal background and prove an active connection to the country.

Tax Incentives under the Non-habitual Tax Regime (NHR)

Holders of Portugal D2 Visa and holders of Portugal Golden Visa and Portugal D7 Visa enjoy the benefits of being non-habitual residents (NHR).

D2 visa holders from countries with a Double Taxation Agreement with Portugal may not pay any taxes on persons, rental income, real estate gains, or income obtained from non-Portuguese sources.

However, they remain liable to pay corporate tax for their companies and social security fees on top of the monthly wage of their employees.

Portugal D2 Visa Application Process

The application process for the D2 visa is as follows:

1. Obtain a Portuguese taxpayer identification number (NIF)
2. Open a bank account in Portugal and transfer funds. Around €12,000 is recommended, with an additional €6,000 if you have a spouse/partner and an additional €3,600 per child
3. Obtain long-term accommodation in Portugal, such as a property lease or rental
4. Secure the required documents and submit them to the Portuguese Embassy in your home country.
5. Attend an interview if asked and provide additional documents if necessary.
6. Await your visa decision.

The next step after securing your D2 visa is transacting with the immigration authorities in Portugal.

Upon your arrival in Portugal, your main goal is to book a SEF appointment immediately. Note that you should still schedule an appointment regardless of whether the only available dates are beyond the 4-month D2 visa duration.

It may take a long time to book an appointment with the immigration authorities in Portugal.

However, you are still considered legal in Portugal even after the expiration of the four-month visa, provided you have already booked an appointment with the SEF.

Application Cost for a D2 Visa

The typical application cost for a D2 visa will be around €110.

However, note that individual embassies or consulates may charge differing amounts so you should always check first to confirm what the exact figure will be from your local Portuguese authority.

Minimum Stay Requirements for D2 Visa

You will normally have to meet some minimum stay requirements in Portugal for the D2 visa to stay valid. Generally speaking, this will be at least 4 months in the first year of your visa’s validity and then 6 months a year during each subsequent 3-year period.

Validity and Renewal of the D2 Visa in Portugal

The D2 visa itself is only valid for a period of one year initially.

However, once you enter Portugal, you will be able to apply for a long-term residence permit, which is renewable for periods of up to 2 years, as long as you continue to meet all of the necessary requirements for your visa and residency in Portugal.

After staying in Portugal for at least 5 years on your residency permit, you may become eligible to apply for Portuguese citizenship.

How Can IAS Help with Portugal D2 Visa Application?

Thinking of moving to Portugal?

IAS can help you with the process! The immigration law in Portugal is ever-changing, with the integration of new procedures and policies. IAS immigration specialists are highly skilled and up-to-date on matters relating to immigration and border services.

As experts in immigration law, our team will assist you with your visa application. IAS offers a package that includes all the necessary services to make a move as smooth as possible.

Moving to Portugal is an exciting but challenging opportunity – let IAS help make the process easy for you. With our assistance, you can relax and focus on making a move.

Contact us today at +44 (0)333 414 9244 or contact us online, to learn more about how we can help you move to Portugal!