Why acquire a D2 visa in Portugal? Well, if you are a foreign citizen, you will be able to live in the country on a long-term basis, freely move within Schengen countries, obtain citizenship, and also benefit from a wide range of tax benefits (like those associated with the status of a Non-Habitual Resident (NHR). You will get a visa for yourself and your family members if you comply with a number of requirements that we will discuss in this post. If you need more information on the Portuguese D2 Visa or other Portuguese visa opportunities available, simply click on the link to explore the portal!
D2 Visa: What Is It?
This document is also known as the Entrepreneur’s Visa, and it was developed for sole proprietors and company owners. The residence permit is valid for 2 years and can later be extended for 3 more years. When these 5 years are over, a foreign citizen can apply for permanent residence and even obtain a local passport shortly.
Here are the applicants who qualify for the D2 visa:
- Sole proprietors
- Founders of new companies in mainland Portugal or on Madeira
- Foreign entrepreneurs that buy a ready-to-use business in the country
- Founders of a foreign company branch in Portugal
- Applicant’s spouse, relatives, and dependents under a family reunification program
There are two more visa offers for investors in Portugal which are called D7 Visa and Golden Visa. However, the D2 Visa is different as it offers minimal financial provision and investment requirements. Keep in mind that if you want to receive a residence permit, you need to have sufficient money to live in Portugal and conduct business activities for a year ahead.
You will get a preliminary D2 Visa that will be valid for 4 months. This is the time required to collect the documents, enter the country, and apply for the local residence permit. This stage is not necessary if you have a valid Schengen visa.
Portuguese Residence Permit: Benefits
Here are the main advantages of the D2 Visa:
- You can have a business in Portugal and enjoy attractive tax benefits on Madeira or in the Azores.
- You will get a residence permit in a safe European country with a well-developed infrastructure that will give you the right to travel to other EU states without restrictions.
- You will be entitled to European citizenship after you reside in Portugal for 5 years.
- You will be able to obtain residence permits for the whole family.
- You can enjoy a preferential tax regime referred to as NHR. You are eligible if you have not been a tax resident in Portugal over the past five years and you are not an EU or Swiss citizen. The NHR covers pension tax, rent tax, rent tax, and income tax, and is valid for 10 years.
- If you get a residence permit in Portugal, you will have access to free and paid education, the state healthcare system, and the European market where you can sell products and provide services.
Requirements for Potential D2 Visa Holders
Here are several stages an entrepreneur will need to pass before obtaining a local residence permit:
- Provide proof of rented or owned accommodation in the country
- Open a branch, buy a ready-to-use business, or incorporate a company in Portugal
- Fill out and submit an application supported with required documents
- Provide evidence of subsistence funds sufficient for himself and dependents who will also obtain Portuguese residence permits
- Finally, prove income received from business activities
Documents To Be Provided
A potential Visa D2 holder will have to provide both personal and business information. The documents have to be translated into Portuguese or English if they are made up in other languages, notarized, and apostilled.
Businesses and Sole Proprietors
Here is a list of documents they will have to provide:
- An investment declaration that contains information about the amount invested in the local business, as well as the funds to be invested in the future.
- A detailed business plan.
- Proof of capital available to develop commercial activities in the country during the expected term of stay (no less than one year).
- Documents related to business incorporation, including invoices, contracts, financial reports, and a bank statement.
- Share capital. Keep in mind that the investments at the initial stage amount to no less than 500 euros for small businesses.
- The number of employees and workspaces you will need.
Personal documents to be submitted:
- Proof of personal financial capabilities. You will need to deposit at least 9,120 euros per sole proprietor or company owner, 4.560 euros for the spouse, and 2,376 euros per dependent.
- Certificate of criminal record. Make sure the document is issued by the law enforcement agency in the country of your current residence no more than 6 months before you submit an application or the residence permit. You will need to get a relevant certificate in each country where you lived for 1 year or more over the past years.
- Citizens of non-EU countries will be required to appoint a tax representative in Portugal.
- Proof of residence in Portugal that you can obtain by buying real estate, concluding a long-term rental agreement, or providing an invitation letter from your relative or friend who is a resident of Portugal.
- Medical insurance. In the case of a primary D2 Visa, a tourist insurance policy is enough on the condition that it covers at least 6 months of stay in Portugal.
- International passport scan with a valid tourist Schengen visa. Your passport should expire no more than 6 months after the primary visa expiration (it is issued for 4 months).
- Two color photos of passport size.
- Taxpayer’s identification number.
- A bank account with a Portuguese bank.
- Certificate of registration with the Social Insurance Fund.
Interested in obtaining a D2 Visa? Please follow the above link to get information about the prices and the step-by-step procedure or communicate with a specialist who will answer all your questions and give recommendations.
