If you plan to start a business in Portugal or buy a Portuguese business, you can apply for a Portugal D2 Visa. Entrepreneurs can get a residence permit through the D2 Visa and benefit from the right to live in Portugal, as well as having visa-free travel access to other Schengen countries. You may wait around 3 months or more to obtain your D2 Visa.
To be eligible for this D visa type of Portugal, you need to prove that you meet the requirements. However, there are not many for entrepreneurs aiming to get a D2 Visa. For instance, you will be expected to open companies in any sector, but you will not need to get approval from Portuguese business incubators. When you complete all the processes, you will be able to live in Portugal through Portugal D2 Visa.
What else will you discover about Portugal’s D2 Visa in this article?
- What is the Portugal D2 Visa?
- Portugal D2 Visa Requirements
- How to Obtain a Portugal D2 Visa: Explained Step-by-Step
- The Benefits Of The Portugal D2 Visa
- And much more!
What is the Portugal D2 Visa?
A D2 visa is a residence visa of Portugal and is shaped for entrepreneurs and foreign nationals. If you see yourself as one and establish your professional independent activity in Portugal, you can apply for a D2 Visa. In addition, you can be eligible for this visa type if you have been hired as a service provider by a service provider or a company in Portugal.
Portugal D2 is a different program compared to, for instance, Portugal’s passvisa option. However, both are considered the Portuguese government’s residency by investment programs. They attract different types of investors, and their mechanisms work differently. The goal is ultimately to attract foreign capital to the Portuguese economy in exchange for residency in Portugal.
You can keep your D2 Visa valid for two years. Then you can renew it for three years. After you keep your residency for five years, it will be possible to apply for citizenship or permanent residence in Portugal.
Your family can immigrate to Portugal when you get the entrepreneur visa (D2 Visa), and your family can get a residence permit so you can have family reunification. You, as business people and your relatives need to stay in Portugal for more than 6 months each year to retain residency.
Portugal D2 Visa Requirements
If you are a non-EU/EEA/Switzerland freelancer, entrepreneur, or independent service provider aiming to live in Portugal, you may be eligible to apply for the Portuguese Entrepreneur Visa.
The Portuguese government expects several eligibility requirements apart from the factor we mentioned above.
Nominal Business Capitalization
You will need to prove having an existing company in Portugal, having enough financial resources in Portugal for opening a branch or investing in a Portuguese company.
You are expected to provide a proof of a loans from one of Portuguese banks. The amount is not set generally, however, it would be good to prove a minimum of €5,000.
Your Personal Funds
You will be required to show that you have sufficient funds to sustain yourself and your family in Portugal if you have dependents with you.
Here are some of the details in case this is your situation while getting a Portugal D2 Visa:
- As the principal D2 Visa applicant, proving you’ll have 100% of the minimum salary (€8,460) annually
- Your spouse, proving that 50% of the annual minimum salary (€4,230)
- Your dependent child, proving that 30% of the annual minimum salary ((€2,538)
So, imagine if you are applying for Portugal D2 visa, and you’re a couple with one kid, you are expected to have at least €15,228 to be eligible.
Solid Business Plan
When it comes to the business idea you will add to your application, it must be first achievable as evidence of your business viability. In addition, it should be a plan to contribute to Portugal’s economic growth.
So, while getting prepared for your business idea, please remember there will be a review by the officer, and the assessment will be based on your business idea’s impact on Portugal’s economic, social, and cultural status.
A Reason for Choosing Portugal for Your Business
Adding an explanation in your D2 Visa application on why you chose Portugal as your business location is important. It is also better to focus more on how your business will have a positive impact on Portugal and help satisfy the needs of its residents rather than only mentioning the good weather and cost of living in Portugal as your motivations.
Comprehensive Health Insurance
You need to purchase health insurance for yourself as the main applicant and if you have one for your dependents. Make sure your health insurance is usable throughout the EU.
Remember to pay for such policies to cover the entire duration of your residency permit. For health insurance, you may need to pay €300 – €1000 per year.
D2 Residency Minimum Duration
It is essential to meet the minimum stay requirement to be a qualified applicant for residency permit renewal under the Portugal D2 Visa. Therefore, remaining in Portugal for at least 4 months in the first year is needed in this process. Also, you need to stay 6 months in the second, third, and fourth years.
How to Obtain a Portugal D2 Visa: Explained Step-by-Step
How much time do you need to spend obtaining a Portugal D2 Visa? Usually, it takes around 2 – 3 months if you already have a business plan or a company in Portugal. Then, you wait for some time to get a residence permit. Let’s discover the steps you need to take while applying for your D2 Visa in Portugal.
Step 1. Gather Necessary Documents
For the first step, you will prepare your business plan, along with documents to prove you have enough money to start a business. Remember to add the required personal documents and forms within.
Step 2. Apply for a D2 Visa
The second step you will take is scheduling an appointment in a Portuguese consulate in the country where your residence belongs or the country of your citizenship. Then, you can come and submit your application.
Step 3. Wait for Approval and Get the Visa
It usually takes 60 days for your visa application to be processed. Then, you will have your visa to be pasted into your passport.
Step 4. Obtain a Portugal Residence Permit
The visa that is on your passport will be valid for four months. So, you need to come to Portugal during this time to submit a residency application and biometrics to the Agency for Integration, Migrations and Asylum of Portugal (AIMA) by appointment. You will find yourself at the end of the fourth step while waiting for the approval and receiving the residence permit card.
Portugal D2 Visa Eligibility Requirements
When it comes to eligibility, the first requirement is that you need to be an entrepreneur or a foreign national who is aiming to establish a professional independent activity in Portugal.
Let’s see who is eligible for Portugal D2 Visa:
- Entrepreneurs
- Independent professionals
- Start-ups
- Investors
- Company owners
- Shareholders
- Business partners
- Directors and share-holder partners
- And more professionals.
Those who can receive a D2 visa for Portugal, including those mentioned above, are also non-EU citizens.
It is important to note that this visa does not cover an entrepreneur’s family members. That means that the entrepreneur’s spouse, children, and parents can apply for a temporary Portugal resident visa through family reunification. However, children over 18 and their parents must demonstrate being financially dependent on the principal applicant, a D2 Visa holder.
Spouses of D2 visa holders must also be legally married or in a civil partnership approved by the state. This covers civil unions and other contractual arrangements between two persons who live together.
If the entrepreneur decides to move to Portugal with his family, he will need a larger bank account balance. For example, in addition to the €9,120 necessary, €4,560 would be required for each adult family member and €2,736 for each kid.
Why Do UK Nationals Apply for a Portugal D2 Visa?
After Brexit, you can still work in the Schengen zone, and getting a D2 Visa from Portugal is a way to do it. You can establish your business and work in Portugal by getting your visa. Remember, you will also have free entry and circulation within 26 European countries.
The Benefits Of The Portugal D2 Visa
Here are the brief but efficient benefits of the Portugal D2 Visa:
- Living in Portugal
- Establishing a business in Portugal
- Working in Portugal as an independent professional
- Getting free entry and circulation right within the Schengen Area
- Having travel rights of Europan Union citizens
Visa Exemption
After you become a holder of a Portugal D2 Visa, you can travel both in Portugal territory and other 26 Schengen countries. Those other countries become reachable by just showing your immigrant entrepreneur (D2) Visa. As an entrepreneur, you may have the opportunity to travel across Europe to build a network and business connections. So, this visa becomes a perfect way to broaden your opportunities in European countries.
Family Perks
D2 Visa is a fast and efficient option for obtaining residency within the European Union. The visa comes with many benefits, such as family reunification and visa-free travel over the Schengen zone. It can also become a cost-effective path to citizenship in the EU when you are able to meet all the requirements.
What are Portugal’s D2 Visa Fees and Processing Times?
Portugal D2 visa processing takes up to 60 days. On the designated day, the applicant submits visa applications and pays a €90 consular fee. Following acceptance, the applicant obtains a passport with a stapled visa, which is valid for 4 months.
As an applicant, you can face many charges, the most significant of which is company investment. There is no minimal barrier, but an entrepreneur must prove that they have the funds to conduct their business.
In addition, you must demonstrate that they have sufficient means to reside in Portugal. The necessary amount is counted based on Portugal’s minimum wage. Starting January 1, 2024, the national minimum wage increased from €760 to €820. So, the minimum annual amount is around €9,840.
Renting or owning accommodation in Portugal is also required; however, there are no minimum unit costs or square footage restrictions. Furthermore, government fees and health insurance are less costly than the prior expense components.
The Wrap Up
In this article, we focused on what an entrepreneur needs to get a D2 Visa in Portugal. Let’s summarize: before you begin the process of obtaining the Entrepreneur Visa Portugal, make sure you have a solid business concept or an established firm, enough financial means to support your living in Portugal for a year, and enough housing. You should also prepare the necessary papers for the visa application and verify that all of the data in your business plan are correct and clear.
Moreover, investigate the Portuguese market, comprehend the current startup ecosystem, and assess the viability and scalability of your unique company endeavor or concept in Portugal. Becoming acquainted with Portugal’s culture, legislation, regulations, and potential commercial problems is also beneficial. We hope you discover the necessary steps to follow while applying for your Portugal D2 Visa.
Frequently Asked Questions
What is the difference between Portugal’s D2 and D7?
Portugal D7 Visa is tailored for individuals who have a stable passive income, such as pensions, rental income, or investments. On the other hand, the D2 Visa caters to entrepreneurs interested in starting or growing a business in Portugal, thus contributing to the Portuguese economy.
What is the D-category visa in Portugal?
Long-stay visas, or type D visas, enable visitors to stay in Portugal for lengthy periods of time. They are, therefore, suitable options for people who want to work, study, or visit relatives. Portugal D7 Visa and the Portugal passvisa program are some of the D-type visas in Portugal.
How long is a D2 visa?
To be eligible for the renewal of your resident visa, you must meet the minimum stay requirement for the Portugal D2 Visa. Consequently, you must stay in Portugal for at least four months during your first year and 6 months throughout the subsequent years. The processing of a D2 visa might take up to 60 days. Your visa is valid for a period of four months.
What is the difference between a D2 and a D3 visa in Portugal?
This visa is intended for aspiring company owners who want to launch creative ventures in Portugal. The Highly skilled Activity Visa, or D3 Visa, is a type of visa that serves highly skilled foreign people working in a variety of fields.
Can I make an investment in Portugal and receive permanent residency?
After five years of maintaining your investment, you can become a permanent resident in Portugal. If you hold a permanent residency status, you can stay and work in Portugal permanently and travel to other EU nations without a visa.
Does the Portugal D2 Visa lead to Residence?
One of the primary motivations for obtaining a D2 Visa is to become a Portuguese resident as an entrepreneur or foreign individual seeking to create a professional independent business in Portugal. In addition, you may also look for employment as a service provider in Portugal.
Does the Portugal D2 Visa lead to citizenship?
You may be eligible for Portuguese citizenship after receiving the D2 Visa, which is a type of residence by investment program. After five years of Portuguese residency, you can apply for permanent residency or citizenship as an investor.
How can an entrepreneur benefit from a Portugal D2 Visa?
The Immigrant Entrepreneur Visa (D2) permits international entrepreneurs to reside, work, and invest in Portuguese territory. While Portugal has a favorable corporate tax rate, it is important to analyze all factors of doing business there before applying for a visa. To be eligible for the D2 Visa, applicants must not be European Union citizens and demonstrate that they have adequate finances to sustain themselves. This can be accomplished by shifting capital investment to a Portuguese bank account with a Portuguese financial institution. The D2 Visa is an excellent choice for entrepreneurs looking to start a new business in Portugal, but it is equally appealing to those looking to purchase and manage an existing business.
