Table Of Contents
If you are considering starting a business or purchasing an existing business in Portugal, you may be eligible for the Portugal D2 Visa. This entrepreneur visa allows you to obtain a residence permit, granting you the right to live in Portugal and travel freely within the Schengen Area. The process for obtaining a D2 Visa typically takes around three months or more.
To qualify for the D2 Visa, you will need to demonstrate that you meet the necessary criteria, though the requirements for entrepreneurs are relatively straightforward. For example, you must plan to establish or invest in a business in Portugal, but you do not need to seek approval from a Portuguese business incubator. Once all processes are completed, you will be granted the ability to live and work in Portugal under the D2 Visa.
What is the Portugal D2 Visa?
The Portugal D2 Visa is a residence visa designed for entrepreneurs and foreign nationals looking to establish a professional independent activity in Portugal. If you plan to start a business or work as a service provider for a company in Portugal, you may be eligible to apply for the D2 Visa.
Unlike Portugal’s Golden Visa, the D2 Visa is specifically geared towards entrepreneurs and professionals seeking to contribute to the Portuguese economy through business activities. Both visas are part of Portugal’s residency-by-investment programs, but they cater to different types of investors and work through distinct mechanisms.
The D2 Visa is initially valid for two years, after which you can renew it for an additional three years. After maintaining residency for five years, you can apply for Portuguese citizenship or permanent residency.
Your family members are eligible to join you in Portugal through family reunification. They will also receive a residence permit, provided they meet the residency requirement of spending more than six months per year in Portugal to maintain your residency status.
Portugal D2 Visa Requirements
If you’re a non-EU/EEA/Swiss freelancer, entrepreneur, or independent service provider looking to live in Portugal, you may be eligible to apply for the Portuguese Entrepreneur Visa.
In addition to your professional status, the Portuguese government has several other eligibility requirements that applicants must meet.
Nominal Business Capitalization
You will need to demonstrate that you either own an existing company in Portugal or have sufficient financial resources to establish a branch or invest in a Portuguese business.
Additionally, you may be required to provide proof of a loan from a Portuguese bank. While there is no fixed amount, it is recommended to show a minimum of €5,000 to strengthen your application.
Your Personal Funds
You will need to demonstrate that you have sufficient financial resources to support yourself and any dependents accompanying you to Portugal under the D2 Visa.
Here are the minimum income requirements for different family members:
- Principal applicant: Must show 100% of the annual minimum salary (€8,460).
- Spouse: Must show 50% of the annual minimum salary (€4,230).
- Dependent child: Must show 30% of the annual minimum salary (€2,538).
For example, if you are applying for a Portugal D2 Visa as a couple with one child, you would need to show a total minimum of €15,228 in annual income to meet the financial requirements.
Solid Business Plan
When preparing your business idea for the D2 Visa application, it must be both realistic and feasible, demonstrating the potential for success. Additionally, your business should contribute to Portugal’s economic growth.
Keep in mind that your business plan will be reviewed by immigration officials, and the evaluation will consider how your business could impact Portugal’s economy, society, and culture. It’s important to present a plan that aligns with Portugal’s development goals and provides clear value to the country.
A Reason for Choosing Portugal for Your Business
In your D2 Visa application, it’s essential to explain why you’ve chosen Portugal as the location for your business. Instead of focusing solely on factors like the pleasant climate or low cost of living, emphasize how your business will positively impact Portugal. Highlight how it will meet the needs of local communities, contribute to the economy, and align with the country’s long-term development goals. This approach will strengthen your application by demonstrating a clear commitment to Portugal’s growth and prosperity.
Comprehensive Health Insurance
As the main applicant, and for any dependents you include, you will need to secure health insurance that is valid across the EU. Ensure that the policy covers the full duration of your residency permit. The cost for health insurance typically ranges from €300 to €1,000 per year, depending on the coverage and provider.
D2 Residency Minimum Duration
To qualify for residency permit renewal under the Portugal D2 Visa, it is crucial to meet the minimum stay requirements. In the first year, you must spend at least 4 months in Portugal. For the second, third, and fourth years, you are required to stay a minimum of 6 months each year.
How to Obtain a Portugal D2 Visa: Explained Step-by-Step
The process of obtaining a Portugal D2 Visa typically takes about 2 to 3 months, provided you already have a business plan or a company established in Portugal. Afterward, there is an additional waiting period to receive your residence permit. Let’s go through the key steps involved in applying for your D2 Visa in Portugal.
Step 1. Gather Necessary Documents
The first step is to prepare your business plan, which should outline your business idea and how it will contribute to the Portuguese economy. Along with this, you’ll need to provide documents demonstrating that you have sufficient funds to start and sustain the business. Don’t forget to include the required personal documents and forms as part of your application.
Step 2. Apply for a D2 Visa
The second step is to schedule an appointment at the Portuguese consulate in your country of residence or citizenship. Once your appointment is confirmed, you can submit your application in person.
Step 3. Wait for Approval and Get the Visa
The processing of your visa application typically takes around 60 days. Once approved, your visa will be affixed to your passport.
Step 4. Obtain a Portugal Residence Permit
The visa affixed to your passport will be valid for four months. During this period, you must travel to Portugal and schedule an appointment to submit your residency application and biometric data to the Portuguese Agency for Immigration, Integration, and Asylum (AIMA). After completing this step, you will wait for approval and receive your residence permit card.
Portugal D2 Visa Eligibility Requirements
To be eligible for the Portugal D2 Visa, applicants must be entrepreneurs or foreign nationals seeking to establish an independent professional activity in Portugal.
Eligible applicants for the Portugal D2 Visa include:
- Entrepreneurs
- Independent professionals
- Start-ups
- Investors
- Company owners
- Shareholders
- Business partners
- Directors and shareholder partners
- And other professionals
Applicants must be non-EU/EEA citizens.
It is important to note that the D2 Visa does not automatically cover family members. The entrepreneur’s spouse, children, and parents can apply for a temporary residence visa under family reunification. However, children over 18 and parents must prove they are financially dependent on the primary applicant (the D2 Visa holder).
Spouses of D2 Visa holders must be legally married or in a civil partnership officially recognized by the state. This includes civil unions or other legal arrangements between individuals living together.
If the entrepreneur is relocating to Portugal with their family, they must demonstrate a higher bank account balance to meet the financial requirements. In addition to the required €9,120 for the main applicant, €4,560 is needed for each adult family member and €2,736 for each child.
Why Do UK Nationals Apply for a Portugal D2 Visa?
After Brexit, UK nationals can still work in the Schengen zone, and obtaining a Portugal D2 Visa is one way to do so. With this visa, you can establish your business in Portugal and work freely within the country. Additionally, the D2 Visa grants you the right to enter and move freely across all 26 European countries in the Schengen Area.
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
Once you hold a Portugal D2 Visa, you can travel freely within Portugal and across the 26 Schengen countries. Your D2 Visa allows you to visit these countries with ease, making it an excellent opportunity for entrepreneurs to expand their networks and forge business connections throughout Europe. This visa provides a valuable gateway to broaden your professional opportunities across the continent.
Family Perks
The D2 Visa offers a fast and efficient route to obtaining residency within the European Union. It comes with numerous advantages, including the ability for family reunification and visa-free travel across the Schengen Area. Additionally, it can serve as a cost-effective pathway to EU citizenship, provided you meet all the necessary requirements.
What are Portugal’s D2 Visa Fees and Processing Times?
The processing of a Portugal D2 Visa typically takes up to 60 days. During the process, applicants must submit their visa application and pay a €90 consular fee. Upon approval, the applicant will receive a visa stamped in their passport, which is valid for 4 months.
As part of the application, entrepreneurs must show proof of sufficient funds to run their business, although there is no minimum investment threshold. It is essential to demonstrate financial capability to support the business and living expenses in Portugal.
In addition to business funds, applicants must show that they have sufficient means to reside in Portugal. This amount is calculated based on the national minimum wage, which as of January 1, 2024, is €820 per month. The minimum annual income requirement is therefore around €9,840.
Applicants must also secure accommodation in Portugal, either by renting or purchasing a property. While there are no specific cost or size requirements for the property, proof of suitable living arrangements is necessary. Additionally, government fees and health insurance costs are generally lower compared to other expenses.
The Wrap Up
In this article, we’ve outlined the key steps for entrepreneurs seeking a D2 Visa to Portugal. To summarize: before beginning the application process for the Portugal Entrepreneur Visa, ensure that you have a well-defined business idea or an established company, sufficient financial resources to support yourself in Portugal for at least one year, and suitable housing.
You’ll also need to gather the required documents for your visa application and ensure that all the information in your business plan is accurate and well-presented.
Additionally, it’s essential to research the Portuguese market, understand the startup ecosystem, and assess the viability and scalability of your business idea in Portugal. Familiarizing yourself with the country’s culture, legal framework, regulations, and potential business challenges will also be highly beneficial.
We hope this guide provides clarity on the steps to take when applying for a Portugal D2 Visa and sets you up for success in your entrepreneurial journey in Portugal.
Frequently Asked Questions (FAQs)
What is the difference between Portugal’s D2 and D7 visas?
The Portugal D7 Visa is designed for individuals with stable passive income, such as pensions, rental income, or investments, who wish to reside in Portugal. In contrast, the D2 Visa is specifically for entrepreneurs looking to establish or grow a business in Portugal, contributing to the country’s economy through their ventures.
What is a D-category visa in Portugal?
D-category visas are long-stay visas that allow individuals to reside in Portugal for extended periods. These visas are ideal for people wishing to work, study, or join family members in Portugal. The D7 Visa and the Portugal Golden Visa are both examples of D-category visas.
How long is a D2 visa valid for?
The Portugal D2 Visa is initially valid for four months. To maintain your residency, you must meet the minimum stay requirements: at least four months in the first year, and six months in subsequent years. The processing time for a D2 visa is typically up to 60 days.
What is the difference between a D2 and a D3 visa in Portugal?
The D2 Visa is intended for entrepreneurs who want to start or manage a business in Portugal, whereas the D3 Visa, also known as the Highly Skilled Activity Visa, is designed for foreign nationals with specialized skills who are looking to work in specific fields in Portugal.
Can I make an investment in Portugal and receive permanent residency?
Yes, after maintaining your investment for five years, you can apply for permanent residency in Portugal. Once you have permanent residency, you can live and work in Portugal indefinitely and travel freely within the EU.
Does the Portugal D2 Visa lead to residency?
Yes, the D2 Visa allows you to establish residency in Portugal as an entrepreneur or independent professional. It provides the right to live, work, and invest in Portugal, offering a pathway to permanent residency.
Does the Portugal D2 Visa lead to citizenship?
Yes, after five years of continuous residence in Portugal, you can apply for permanent residency or citizenship, depending on your situation. The D2 Visa serves as a residency-by-investment pathway, making it a potential route to Portuguese citizenship.
How can an entrepreneur benefit from a Portugal D2 Visa?
The Portugal D2 Visa allows entrepreneurs from non-EU countries to live, work, and invest in Portugal. With a favorable business environment, low corporate tax rates, and the opportunity to reside within the EU, Portugal offers an attractive option for entrepreneurs. Applicants must demonstrate sufficient financial means to support themselves and their business in Portugal, which often involves depositing capital into a Portuguese bank account. Whether you want to start a new business or manage an existing one, the D2 Visa provides a viable option for entrepreneurs seeking to establish a foothold in Europe.
Best Consultancy Agency
