Portugal Entrepreneur Visa – (Portugal D2 Visa)
Portugal D2 Visa provides a pathway for self-employed professionals, including entrepreneurs, freelancers, and independent service providers to attain Portuguese residency and citizenship. This visa is particularly suitable for individuals aiming to establish and manage their businesses within Portugal.
While there is no explicitly stated minimum investment required by law for the D2 visa application, applicants must showcase their ability to cover direct expenses in Portugal for at least one year. Additionally, they should demonstrate financial capacity to sustain the proposed business outlined in the business plan submitted with the visa application.
Although setting up a company in Portugal is not mandatory, in certain instances, it may provide an advantage. Establishing a company can serve as a tangible commitment to operating the business within Portugal. Notably, Portugal D2 visa does not impose a specific requirement for job creation in Portugal, as seen in the Golden Visa job creation route. However, a meticulously crafted business plan outlining the proposed business’s value addition to the Portuguese economy, be it in social, technological, environmental, or economic terms, including potential job creation, can significantly strengthen the applicant’s case.
D2 Visa Overview
The Portugal D2 visa is a four-month, dual-entry visa issued by the Portuguese Consulate, allowing holders to travel to Portugal during its validity to complete biometrics with AIMA (Portuguese immigration authority). Typically, the visa comes with a predetermined appointment date, and on that day, the holder must present the required documents and submit their biometrics. Upon approval, the applicant receives a temporary residence card valid for two years, renewable based on residency conditions.
Following residency approval, applicants can pursue family reunification, facilitating the relocation of immediate family members (such as spouse or partner, children, and parents) to Portugal.
Compared to the Golden Visa, the government fees for the D2 Visa are relatively insignificant. The local consulate’s D2 Visa application costs approximately EUR 100, and the residency card application at AIMA costs less than EUR 200 per applicant. However, it’s essential for applicants to consider the overall costs associated with this visa, encompassing professional fees for engaging a qualified firm like My Golden Pass, along with expenses related to obtaining a tax number, opening a bank account, buying health insurance, securing rental, and other necessary requirements.
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Who can apply for Portugal D2 Visa?
The D2 visa is tailored for non-European Union (EU) citizens with entrepreneurial aspirations.
Perfect for those with a passion for entrepreneurship, eager to establish and manage their business ventures in Portugal, from tech startups to traditional enterprises. Moreover, entrepreneurs with existing businesses in another country, aspiring to open a branch in Portugal, are also eligible to apply.
Freelancers and self-employed individuals can benefit from the D2 visa, provided they meet financial requirements and contribute to Portugal’s growing economy. In such cases, applicants will need to submit a written service provision contract demonstrating predictable earnings as a supporting document for the visa application.
How to apply for Portugal D2 Visa?
- Schedule a Professional Consultation with My Golden Pass:
- Schedule a consultation with our experts at My Golden Pass to address your queries.
- Complete an initial assessment of your situation to determine the suitability of the visa.
- Based on this assessment, make an informed decision about continuing your application and selecting the specific visa category.
- KYC and Engagement Letter:
- Fulfill our Know Your Customer (KYC) procedures.
- Sign the engagement letter and engage our services to assist you throughout your application process.
- Document Preparation:
- Begin preparing the required documents as per the checklist provided by our legal team.
- We assist in the application for a tax number and the opening of a personal bank account in Portugal.
- Company Incorporation and Business Plan:
- If applicable, complete the incorporation of your company and obtain all necessary licenses and registrations for operating your business in Portugal.
- Open a company bank account and engage the services of an accountant, either from our recommendations or your own selection.
- Our team can also assist in crafting comprehensive business plans tailored for the visa application.
- Financial Means Evidence:
- Transfer sufficient funds to your Portuguese bank account. Remember, this is your bank account, and funds herein will be under your control. You are never required to share login credentials or transaction rights with any third party.
- Apartment Rental:
- Secure an apartment in Portugal that meets your requirements.
- Depending on the local consulate requirements, the rental agreement may need to be registered with stamp duty paid. We can recommend registered property agents for this purpose.
- Purchase Health Insurance:
- Acquire valid health insurance with a minimum medical cover of EUR 30,000.
- Note that travel insurance may not be sufficient for this purpose.
- D2 Visa Application at Local Consulate:
- Attend an in-person appointment for document submission and a visa interview.
- Receive a decision on your D2 visa within the legal requirement of 60 days (though this timeline may vary depending on the consulate’s workload).
- AIMA Appointment:
- Receive the D2 visa with a 4-month validity and a printed schedule for your biometrics appointment.
- In some cases, you may need to schedule the appointment yourself within the visa’s validity.
- Our lawyer will accompany you to the AIMA office on the scheduled day.
- Post approval, receive your residency card.
General requirements for the D2 Visa
- Portuguese tax number (NIF) and a Portuguese bank account
- For entrepreneurs, incorporation of a company in Portugal or clear intent to start a company in Portugal. For freelancers, at least one signed contract with sufficient value to justify sufficient earning capability to sustain oneself in Portugal.
- Proof of funds supported by adequate documentation to justify financial subsistence.
- Proof of accommodation and health insurance.
- No criminal records or police clearance certificate for all adult applicants
- Adherence to residency requirements, maintaining residency of at least 4 months in 1st year and at least 16 months in each subsequent 2 year period, except for valid professional or force majeure reasons
- At end of 5 years, Investors have the option to obtain permanent residency or citizenship at their discretion.
- Language test (A2 level proficiency – beginner level) is necessary to obtain citizenship. There are exemptions to this requirement.
Benefits of the Portugal D2 Visa
- Main applicant is granted the right to live and operate his business from Portugal. Family members have the privilege to live, work and study in Portugal.
- Visa-free travel within EU Schengen area.
- Eligibility to apply for citizenship after 5 years. As a Portuguese citizen, eligibility to live, work and study in the Schengen area plus visa free travel to 170+ countries.
- Portugal allows dual citizenship
- Favorable tax regime as a non-habitual resident.
- High quality of life, stable democratic country and low crime rate
- Universal health coverage through National Health Service
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