What exactly is the Portugal D2 Visa?
Unlock the Door to Your Portuguese Business Dreams with the Portugal D2 Visa - An Underrated Path to Residency & Citizenship for Entrepreneurs and Freelancers.
Are you a non-EU/EEA/Swiss citizen looking to start or relocate your business to Portugal? Look no further, the Portugal D2 Visa is your solution!
The Portuguese government created this visa to attract external resources and investments to boost the Portuguese economy. Whether you're starting a new business or investing in an existing one, the D2 Visa offers a lesser-known but viable route to permanent residency and citizenship for those pursuing self-employment in Portugal. Don't miss out on this opportunity, take control of your future and launch your business in beautiful Portugal today.
"Portugal is not a place to be born, but a place to be reborn." - Henry Fielding
Requirements for Obtaining a D2 Visa in Portugal
Attention all non-EU entrepreneurs, freelancers, and independent service providers!
If you're seeking a new business venture or relocating your existing one to Portugal, the Portugal D2 Visa may be your ticket to permanent residency and citizenship in the country.
To be eligible for the D2 Visa, you must show proof of having established a company operating within Portuguese territory or that you have the financial means to set up a business in Portugal. Additionally, you must have sufficient funds to support yourself and any dependents. The main applicant must have a minimum salary of 100% of the annual minimum salary, which is €9,120. This amount increases by an additional 50% for a spouse and 30% for a dependent child. Therefore, a couple with one child would require around €16,500 per year to meet the eligibility criteria.
Your business plan must also meet the approval of the Portuguese authorities by demonstrating its social, economic, and cultural impact. The plan should clearly show how your business will not only thrive but contribute to the growth of the Portuguese economy.
Finally, to strengthen your application, you should explain why you have chosen Portugal as the location for your business. Rather than solely focusing on factors like the cost of living and climate, also highlight how your company will positively impact the country and its citizens. This could include creating jobs or addressing an unmet need in the Portuguese market.
Advantages of Portugal's D2 Visa Explored
Visa-Free Travel: The Portugal D2 Visa provides you the privilege of visa-free travel within the Schengen area, a 26-nation EU bloc. This visa grants you the same travel rights as any EU citizen.
Family Reunification: You can apply for family reunification once you have obtained the D2 Visa, granting your family members the same residency rights as you. This includes your partner, children under 18, dependent children over 18 who are studying, parents, your partner's parents, and minor siblings. All family members are allowed to reside, work, travel within the Schengen area and enjoy the visa's benefits.
Path to Permanent Residency: The D2 Visa provides a pathway to permanent residency in Portugal. You can attain legal residency in the first year and renew it for two consecutive years. After five years of legal residency, you may apply for permanent residency.
Option for Citizenship: The Portugal D2 Visa may also lead to citizenship. After six years of legal residency, you can apply for Portuguese citizenship, which requires an A2 Portuguese language certificate, proof of a Portuguese bank account, and a clean criminal record. Find out more about the Portugal Citizenship here.
Tax Benefits through Non-Habitual Tax Regime: By becoming a non-habitual resident (NHR) in Portugal, you can enjoy the incentives of this tax regime, allowing you to transfer your tax residency to the country. Find out more about the NHR here.
Corporate & Social Security Tax in Portugal However, please keep in mind that as a NHR resident, you will not be exempt from paying the standard Corporate Tax (IRC) in Portugal. The standard IRC rate on the Portuguese mainland is 21%, but small to medium-sized companies can enjoy a lower rate of 17% on the first €25,000 of taxable profit. Additionally, it is important to note that you will need to cover the Social Security Tax (TSU) for your employees. Companies are required to pay 23.75% TSU for each monthly salary and an additional 11% is taken directly from the employee's salary. For example, for a €2,000 monthly salary, the company would pay €475 per month for social security while the employee would pay €220.
Portugal D2 Visa - Application Process Guide
Discover how to obtain a D2 Visa in Portugal in less than 6 months, unlike the Portugal Golden Visa which can take 9 to 12 months to process. Here is a step-by-step guide to the application process.
Opening your business in Portugal Establish your business in Portugal or open a subsidiary office, secure all necessary licenses, and transfer capital to a Portuguese company bank account.
Submitting your application Gather all the necessary documents, fill out the application form, and submit it to a Portuguese Embassy.
Preparing a Business Plan Prepare your business plan and the supporting documentation: - Portuguese company certificate - Bank Account in Portugal with share capital duly received - Personal and company NIF (Tax Identification Number) - NISS (Social Security Number) - Passport - Two identical passport size photos - Employment contract - Social contribution receipts for the last three months - Criminal Record certificate - Valid medical insurance
Residential Address Find your home in Portugal in order to have a residential address. You can rent or purchase, the decision is entirely yours.
Arriving to Portugal Upon receiving your D2 temporary visa, travel to Portugal and schedule an in-person appointment with SEF (the Foreigners and Borders Service) within the 6-month timeframe.
Receiving your Visa Upon successful completion of your SEF appointment, you will receive your D2 visa and a valid Portuguese residence permit.
Becoming a Citizen After 5 years, you can become a permanent resident of Portugal and after 6 years you can become a Portuguese citizen.
At first glance the process of obtaining a Portugal D2 Visa can seem overwhelming, but with the right guidance, it can be a smooth and simple experience. At Relo.PT we are dedicated to helping individuals navigate this process and make their dream of living in Portugal a reality. With our expertise and personalized approach, we can ensure a stress-free experience from start to finish. Contact us today to schedule a consultation and get started on your journey to Portuguese residency and citizenship!