Portugal D2 Entrepreneur Visa

Qualifying for the Portugal D2 Visa

In order for the D2 Visa to be successfully granted, the evaluators consider the conditions and the potential of the company’s contribution to the country. You must prove your organization’s value and present the following elements:

Declaration of Investment

A declaration that you have made or intend to make an investment in Portugal, indicating its nature, value, and duration. The Visa application will be assessed by considering, namely, the economic, social, scientific, technological, or cultural relevance of the investment, not to mention the creation of jobs in Portugal which will count heavily in your favour.

Company Set Up

Proof that you have set up a company operating in Portuguese territory or that you have the financial resources in Portugal that demonstrate you can set up a company in Portugal.

Business Plan

A structured business plan that will be reviewed for its social, economic, and cultural impact. This plan should prove that your business will thrive and lead to economic growth.

Financial Capacity

Demonstrate that you have the financial capacity to sustain your company and that it is viable during the time you intend to live in the country.

Personal Financial Means

Proof that you have the financial means to live in the country for a year, regardless of your business’ income. You, as the main applicant, must have 100% of the minimum annual salary which is €9,870. A spouse, requires an additional 50% of this value (€4,935) and for each dependent child, you must add 30% more (€2,962). Therefore, a couple with one child would need around €17,767 a year to be eligible for the D2 Visa.

Share Capital

This is an initial capital that ensures that the company can function, even if it’s not making profits. In Portugal, small companies have an average social capital of €5,000, a reference value to consider in your application

Health Insurance

You will be required to have comprehensive, EU-wide health insurance cover, both for you and for any dependent applicants. Upon receiving your residence card, you will have access to the Public Healthcare System.

Service Contract

Liberal professionals must apply with a written contract or proposal to provide their services.

Tax Representative

Non-EU citizens applying for the D2 Visa are legally required to appoint a Tax Representative in Portugal or choose to be notified by the Portuguese Tax Authority through the tax authority portal (Portal das Finanças) or through an official electronic mailbox (v.g. Via CTT).

Benefits of the D2 Visa

• The right to establish a business or work as an independent professional and live in Portugal.
• Free entry and circulation within the Schengen Area, comprised of 26 European countries, without a Visa. The D2 Visa essentially grants you the travel rights of all European Union citizens. This is perfect for entrepreneurs who want to travel through Europe to network and build corporate connections.
• The possibility of family reunification in Portugal: The family (including partners, children, parents, or siblings dependent on either partner) of the holder of a Portuguese residence permit can also live in the country.
• The option to apply for Portugal’s Non-Habitual Resident (NHR) tax regime, which is open to anyone who has the right to reside in Portugal (an EU/EEA/Swiss citizen or a holder of a residence permit) and has not been a tax resident of the country in the previous 5 years.
• Qualification for permanent residence or citizenship in Portugal: After 5 years of being a legal permanent resident, you may be eligible for permanent citizenship in the country, as part of Portugal residency program. Please note that citizenship is subject to a basic Portuguese language test.
• Portuguese residency rights, including education and health care: As a Portuguese resident you and your family will have access to the Public Healthcare System and your children to the Public Education System.

The Portuguese tax regime for non-habitual residents is nearing termination, with the deadline for benefiting from it set at the end of 2023. Discover how you can take advantage of this unique opportunity.

How to renew the D2 Visa

With the D2 Visa, you can apply for and receive the Portuguese Residence Permit, which will allow you to live and work in Portugal for 1 year. This permit can be renewed every 2 years, if the applicant proves the continuity of their professional activities. After 5 years of legally authorized residence, you can request Portuguese nationality.

Minimum stay requirements

The minimum requirement to continue residing in Portugal is that you spend at least 4 months in the country during the first year and at least 6 months per year during each 3-year subsequent period.

How to apply to the D2 Visa

The application should be kick started by:

01 Obtaining a Portugal taxpayer identification number (NIF)

02 Opening of a banking account in Portugal and transferring funds thereto. We recommend €12,000.00, plus €6,000.00 for the spouse and €3,600.00 per child.

03 Securing long-term accommodation in the country by either buying or renting a property long term (we recommend 1 year, even if there is an early break clause).

04 Applying online through the E-Visa Portal in the Portuguese Consulate of your home country or in Portugal if you happen to be in the country.

Documents you will need

As a rule, the applicant will be required to have the following documents when applying for a D2 Visa:

• A passport that is still valid for at least 6 months after the expiry date of the Visa you are applying (which will expire after 4 months).
• Two recent passport-size colour photos.
• A declaration outlining the reasons for the Portugal residency.
• A Health Insurance Plan valid in Portugal or else an affidavit stating that one will be bought in Portugal within 90 days of arrival.
• A criminal record certificate or Police clearance letter (FBI report in the case of US residents) issued no more than 90 days before the date of submission to the Consulate.
• Documentary evidence of having accommodation in Portugal (property title deed or tenancy agreement).
• Documentary evidence of having sufficient funds available to the applicant’s subsistence in Portugal (e.g., a local bank statement).
• In the case of a freelance professional the copy of a contract and, if applicable, proof of professional qualifications; or, in the case of an entrepreneur, the business plan and proof of either having made the investment, or of having access, in Portugal, to the necessary funding to do so.

How can Velorum assist you with obtaining a Portugal D2 Visa?

We provide full assistance in obtaining a Portugal D2 Visa. As a comprehensive, non-biased party, Velorum Partners is able to understand and advise on which solution works best for your particular case. We will assist you every step of the way, from acquiring a Portuguese bank account to helping with your relocation, including finding the perfect property either for buying or letting.