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Portugal D2 Visa: Entrepreneur Visa
The D2 Visa, also known as the entrepreneurship visa, is perfect for immigrants who want to start their businesses in Portugal. This article will provide information about the D2 Visa, including how to apply and what requirements you’ll need.If you’re considering moving to Portugal, speak to our expert immigration lawyers today at +9714-584-9553 or contact us online for immediate assistance.
The Portugal D2 Visa
The Portugal D2 Visa is a viable means of becoming a permanent resident and citizen in Portugal. This visa is for entrepreneurs, freelancers, and independent service providers who plan to move to Portugal.
The Portuguese government offers this visa to encourage foreign entrepreneurs to invest and create businesses contributing to the Portuguese economy, technology, and culture.
You are eligible for this Portuguese entrepreneurship visa if you are a citizen from countries outside the EU/EEA or Switzerland. Moreover, you must intend to relocate and operate a business in Portugal by:
- Starting a new business
- Setting up a branch of an existing foreign business; or
- Investing in a current Portuguese company
Eligibility Requirements for the D2 Visa
Your visa approval depends mainly on the Portuguese immigration authorities’ interpretation of your submitted documents. So, having credible applications and supporting documents is critical in securing a favorable decision.
Below are the requirements for the D2 or entrepreneur visa:
- Proof of Financial Resources
Applicants for the Portugal D2 visa must prove that they have enough resources to sustain themselves and their families during their stay in Portugal.
You can prove this by showing bank documents validating 12-months savings equivalent to Portuguese minimum wage. The Portuguese minimum wage is €705 per month, validating under €8,000 for each applicant.
- Existing Business Plan
The Portugal government’s primary objective in offering this visa is to raise external resources for developing the country’s economy.
This means entrepreneurship visa applicants must have a solid business plan and investment commitment.
The D2 visa applicants will use the business plan to prove the viability of their business. They must also show that the company has economic, social, scientific, technological, or cultural relevance to the country.
An entrepreneurship visa is an attractive option for business owners looking to immigrate to Canada as it does not limit the type of business to launch in Portugal.
- Criminal Record Certificate
You must also secure a Certificate of Criminal Record from the competent authority of any country you’ve lived for more than one year. The Portugal immigration authorities require the document to be not more than three months old.
- Valid Travel Medical Insurance
You are entitled to Portuguese state healthcare once you get your residency permit. The authorities require you to secure valid travel insurance to serve as your protection in instances of delay in the insurance of the resident permit.
- Proof of Accommodation in Portugal
Proof of accommodation refers to documents proving that you have a place to stay while in Portugal. Some examples of proof of accommodation include a rental contract and deeds to the property. It can also be a letter of invitation from a legal resident of Portugal, inviting you to stay with them.
Benefits of the Portugal D2 Visa
- Visa Exemption and Travel Rights in the Schengen Area
A holder of a Portugal D2 Visa may travel not only in the Portugal territory but also to the other 26 Schengen countries by just presenting your immigrant entrepreneur visa.
The visa exemption is perfect for entrepreneurs looking to travel across Europe to build a network and business connections.
- Family Member’s Residency Rights
The approval of your D2 visa allows you to bring your family to Portugal. However, you may need to submit credible documents to prove your relationship with a family member included in the family reunification grant.
- D2 Visa Leads to Permanent Residency
The D2 visa is valid for only 120 days. You must immediately book an appointment with the Foreigners and Borders Service (AIMA) to secure a residency permit. You can apply for a permanent residency in Portugal after a 5-year mark period.
- D2 Visa Leads to Portuguese Citizenship
You can apply for Portuguese citizenship after 5 years of being a legal resident in Portugal. It would be best if you learned the Portuguese language with an A2 proficiency, have a clean criminal background and prove an active connection to the country.
- Tax Incentives under the Non-habitual Tax Regime (NHR)
Holders of Portugal D2 Visa and holders of Portugal Golden Visa and Portugal D7 Visa enjoy the benefits of being non-habitual residents (NHR).
D2 visa holders from countries with a Double Taxation Agreement with Portugal may not pay any taxes on persons, rental income, real estate gains, or income obtained from non-Portuguese sources.
However, they remain liable to pay corporate tax for their companies and social security fees on top of the monthly wage of their employees.
The D2 Visa Application Process
Many applicants often feel overwhelmed thinking about the different requirements and stages of securing a D2 visa. However, there are only a few stages to the application process.
The initial step is to secure the required documents and submit them to the Portuguese Embassy in your home country. Collect and submit complete documents, including a properly structured business plan.
The immigration authorities will review your documents and invite you for an interview at the embassy once your visa is approved. If the interviewer finds you qualified, you’ll be issued your Portugal D2 visa.
The entrepreneur visa is valid for four months, and you can use it to travel to Portugal to apply for resident status.
The next step after securing your D2 visa is transacting with the immigration authorities in Portugal.
Upon your arrival in Portugal, your main goal is to book a AIMA appointment immediately. Note that you should still schedule an appointment regardless of whether the only available dates are beyond the 4-month D2 visa duration.
It may take a long time to book an appointment with the immigration authorities in Portugal.
However, you are still considered legal in Portugal even after the expiration of the four-month visa, provided you have already booked an appointment with the AIMA.
How can Baker and Co Associates Help? Thinking of moving to Portugal?
Baker and Co can help you with the process! The immigration law in Portugal is ever-changing, with the integration of new procedures and policies. Baker and Co immigration lawyers are highly skilled and up-to-date on matters relating to immigration and border services.
As experts in immigration law, our lawyers will assist you with your visa application. Baker and Co offers a package that includes all the necessary services to make a move as smooth as possible.
Moving to Portugal is an exciting but challenging opportunity – let Baker and Co help make the process easy for you. With our assistance, you can relax and focus on making a move.
Contact us today at +9714-584-9553, or contact us online, to learn more about how we can help you move to Portugal!
What is the difference between a golden visa and a D2 visa?
A golden visa holder may only need to spend a minimum of 7 days per year in Portugal. The golden visa is ideal for people who want to secure a Portuguese passport but still wish to enjoy the flexibility of travelling to other places.
The travel flexibility afforded to golden visa holders does not apply to D2 visa holders. The holders of a D2 visa must stay inside Portugal for either six consecutive months or eight non-consecutive months. In addition, D2 visa holders must inform Portugal’s immigration and border service agency of their plan to leave the Portuguese territory.
What is proof of subsistence?
Proof of subsistence means you have enough resources to pay for your expenses, including accommodation, food, and other incidental costs. You may present bank statements and other financial documents to prove financial sufficiency.
You can also submit a statement of responsibility as proof of subsistence. The statement must be signed by a Portuguese citizen or a foreign national legally resident in Portugal.
How to get a temporary residency in Portugal?
You can secure a temporary residence permit if you have regular, passive income from investments and wish to reside in Portugal.
The Portuguese Immigration and Border Service grant a temporary residence permit to applicants who can provide proof of monthly income of not less than EUR 1,070.
Other requirements to get a temporary residency in Portugal includes:
- A completed application form
- A valid passport or travel document
- Two recent passport photographs
- A criminal background check from your country of residence
- Proof of health insurance
- A return ticket or proof of onward travel plans
The Portugal immigration authorities will review your application after you have submitted all the required documents.
If your application is approved, they will issue a temporary residency permit valid for one year. You can renew your temporary residency permit for another two years, provided you still meet the requirements for temporary residency.
Is it necessary to know Portuguese to apply for a D2 visa?
It is not necessary to know Portuguese to apply for a D2 visa. However, passing at least the A2 language examination is essential if you decide to apply for citizenship in Portugal.
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