Portugal D2 Visa: A Comprehensive Guide to Portugal's Entrepreneur Visa
26 June 2024 | Portugal
Portugal D2 Visa: A Comprehensive Guide to Portugal's Entrepreneur Visa
The Portugal D2 Visa is a type of long-stay visa that was introduced in 2018 and is intended primarily for business owners who wish to establish or purchase a company in Portugal.
After submitting an application for a residence permit, non-citizens of the European Union are granted a four-month visa to remain in Portugal. After receiving a D2 Visa, a Portuguese residence permit is good for two years before being extended for a further three years, provided the applicant’s professional activities continue. Following five years of lawful residency, the person is eligible to petition for Portuguese nationality.
The D2 visa, sometimes referred to as the “Entrepreneur Visa” or the “Business Visa,” is granted to people who want to establish their own business in Portugal or invest in a Portuguese company. The purpose of the visa is to encourage the development of creative, long-term businesses that can boost Portugal’s economy.
Key Points:
- With conditions on staying in Portugal for a specific amount of time, the Portugal D2 Visa allows non-EU entrepreneurs to establish businesses in Portugal and provides a pathway to citizenship or permanent residency after five years.
- For a D2 Visa application to be approved, applicants must submit a strong business plan, demonstrate financial sustainability with minimum funding and income requirements, along with maintaining a clean criminal background.
- In order to start a business and build a life in Portugal, holders of D2 visas can take advantage of tax benefits under the Non-Habitual Resident regime, travel throughout the Schengen Area without a visa, and choose to reunite with family members.
Who can apply for the Portugal D2 Visa?
- Entrepreneurs looking to establish a business in Portugal.
- Business owners who already own a business in their home nation but wish to establish a branch in Portugal.
- Professionals that are independent or liberal who already have a written employment offer or contract and would like to work in Portugal.
Benefits of Portugal D2 Visa
Schengen Visa
Enjoy free entry and circulation rights within the Schengen Area, which includes 26 European countries.
Access to Healthcare system
Living in Portugal gives you access to primary and secondary healthcare through National Healthcare, popularly known as SNS (Serviço Nacional de Saúde).
Opportunities for Entrepreneurship
The entrepreneur route gives you the chance to create your own company in Portugal, boosting the regional economy and encouraging innovation while giving you access to the larger EU market, which can be beneficial for trade and business growth.
Pathway to Citizenship
You are eligible to apply for citizenship or permanent residency after five years of lawful residence. You will, however, need to pass a Portuguese language exam in this case.
Non-Habitual Resident tax regime
Access to the NHR (Non-Habitual Resident) special tax regime is one of the advantages of the D2 Visa. You either pay no taxes at all or very little in taxes on any income from foreign sources under this arrangement.
Family Reunification
You are allowed to bring dependent family members, such as your spouse or partner, parents, siblings, and children under the age of eighteen who are dependent on you or your spouse, as well as your own parents or the parents of your spouse or partner, if they are dependent on you.
Requirements for the Portugal D2 Visa
To be eligible for the Portugal D2 visa, applicants must meet certain requirements. Here are the key criteria:
Business Establishment:
- Purchase a Portuguese company or its shares.
- Establish a new company in Portugal.
- Open a branch of an existing company in Portugal.
Business Plan:
- Submit a detailed business plan outlining the proposed venture’s economic and social benefits for Portugal.
Nominal Business Capitalization:
- Provide proof of existing company in Portugal or sufficient financial resources to open a branch or invest in a Portuguese company.
- It is recommended to prove a minimum of €5,000 in loans from a Portuguese bank.
Personal Funds:
- Demonstrate sufficient funds to sustain yourself and your family in Portugal if you have dependents.
The minimum funds required are as follows:
- Principal applicant: 100% of the annual minimum salary (€8,460).
- Spouse: 50% of the annual minimum salary (€4,230).
- Dependent child: 30% of the annual minimum salary (€2,538).
Solid Business Plan:
- Present a viable and achievable business idea that contributes to Portugal’s economic growth.
Reason for Choosing Portugal:
- Explain why you have chosen Portugal as your business location, focusing on the positive impact your business will have on Portugal and its residents.
Comprehensive Health Insurance:
- Purchase health insurance for yourself and your dependents that is usable throughout the EU.
- Ensure the policy covers the entire duration of your residency permit.
- The cost of health insurance may range from €300 to €1000 per year.
D2 Residency Minimum Duration:
- Meet the minimum stay requirement to qualify for residency permit renewal under the Portugal D2 Visa.
Required Documents for Portugal D2 Visa
It is usually necessary to submit a combination of personal and business documentation to support your application when applying for a Portugal D2 Visa, whichever option you choose. An outline of the different kinds of documentation you will require is provided below:
Required Personal Documents
- Personal NIF and Bank Account
You must open a bank account in Portugal and have a Portuguese Tax Number (NIF) before you can apply for a D2 Entrepreneur Visa. You can apply in person at a Portuguese tax office or online to receive an NIF. You can open a bank account from a distance. In Portugal, you must additionally designate a tax representative. - Proof of Accommodation in Portugal
In order to obtain a D2 Business Visa, you must provide proof that you have secured residence in Portugal. This could take in the form of a certificate of property ownership or a rental agreement that has been signed for at least a year. - Personal financial resources
The Portuguese authorities also confirm that you have enough money to live in the nation for a minimum of one year.A minimum of €9,120 must be deposited into a Portuguese bank account before submitting the application. The amounts that follow must be contributed to the application if family members are being added: €2,740 per year for each child and €4,560 per spouse.
- Visa Insurance
Visa insurance especially meets the requirements imposed by visa authorities in order to obtain a visa. It is sometimes referred to as travel medical insurance or Schengen insurance. covers emergency medical costs, hospitalizations, medical evacuations, and repatriations for the duration of the visa, which is four months until you can access the public health care system.
Required Business Documents
- Letter of Investment
A letter of intent or endorsement from a prospective client, business associate, or investor in Portugal may be submitted by the applicant.
The letter should demonstrate the potential market for the proposed firm in Portugal as well as its likelihood of success.
- Business Plan
A third-party expert, such as a lawyer or accountant, can analyze an applicant’s business plan to determine its viability and practicality.
- Financial assets
The applicant may demonstrate that they have enough money to pay for the start-up expenses of their firm while they are visiting Portugal.
Bank statements, investment portfolios, or evidence of income from employment or other sources could be examples of this. - Capital Shares
This initial outlay of funds ensures that the business can function even in the event of a loss. It is important to consider that small firms in Portugal have an average social capital of €5,000 when completing your application. - Proof of Business Formation
This includes any official documentation attesting to the fact that you have established a limited company (LDA) in Portugal, which may have one or more partners, or that you possess the necessary funds to do so. - Open a Business Bank Account in Portuguese
It is necessary to move the initial social capital specified at company registration to the firm bank account. - Agreements or Contracts
Written agreements outlining the services that independent suppliers will deliver are necessary.
Duration of Portugal D2 Visa Processing
You should expect a decision from the Portuguese embassy or consulate on your D2 visa application within 60 days of filing it. You will need to reapply when the visa expires if you don’t enter the country within the 120 days after it is approved.
You need to apply for a residence permit at AIMA (previously SEF) after you arrive in Portugal. Depending on the ongoing workflow at AIMA, the processing period for the application for a residence permit may extend up to ninety days.
Frequently Asked Questions (FAQs)
For those looking to get a long-term residency visa, independent professionals, immigrant entrepreneurs, company owners, and shareholders can apply for the D2 visa.
Up to 60 days should pass after submitting an application for a D2 visa at the Portuguese consulate.
No, company owners or partner shareholders are the main recipients of the D2 visa. Applications for family reunification fall under the D6 Visa category, which requires the D2 visa holder to get a valid resident permit before proceeding with the family application.
Yes, you must give a Portuguese representative, attorney, consultant, or any other resident of Portugal legal power of attorney.
The Ministry of Foreign Affairs or the Portuguese consulate in your place of residence must certify the power of attorney.
In order to prove that the business plan is feasible, potential D2 visa applicants must submit a strong business plan together with a definite investment commitment. The company’s importance in terms of its contributions to the nation’s economy, society, science, technology, or culture must also be shown.
The D2 is a 120-day valid visa. Once in Portugal, you will need to go to the AIMA (The Agency for Integration, Migration and Asylum) to have your biometric data collected in order to get a two-year residency permit.
Absolutely, you can work in Portugal in different legal jobs as long as you have a D2 visa.
Indeed, however in order to incorporate those people, you will need to secure a new visa because the hiring standards differ from those of the D2 visa.
It can take one working day to create a company when the required paperwork is submitted.
To Learn more about Portugal D2 Visa & want help applying to this immigration program, Contact us today!
Latest Immigration News
- All Posts
- Immigration News
- Latest News
- Uncategorized
- 最新动态
- 最新動態
- 未分类
- 未分類
- 移民新聞
- 移民新闻
Share this post:
GET IN TOUCH WITH US
Simard & Associates helps clients apply for citizenship and residence under the applicable programs. To schedule an initial free consultation, get in touch with us.
GET IN TOUCH WITH US
Simard & Associates helps clients apply for citizenship and residence under the applicable programs. To schedule an initial free consultation, get in touch with us.
