Easy Portugal Residency with D7 Visa
Portugal, due to a favorable investment climate, clear and transparent tax rules, a stable political and social environment, and an excellent quality of life, has been the leading destination for individuals and families seeking residence within the European Union for many years.
Portugal offers applicants various types of visas including Schengen visa, Work visa, Tech visa, Start-up visa, Study visa, Golden visa, D2 visa, and finally D7 visa.
Here, we will completely introduce Portugal Passive Income visa, its requirements, benefits, and procedures.
What is Portugal D7 Visa?
Portugal D7 Visa, also known as Passive Income Visa, offers residency to non-EU citizens who seek to relocate to Portugal with their own regular and sufficient funding and income during their stay in this country.
D7 Visa of Portugal is suitable for retirees, entrepreneurs, freelancers, remote workers, and pensioners living off their monthly income and who desire to live in Portugal without making an economic investment. In other words, those retired foreign citizens, regardless of age and with a recognized stable income, such as intellectual property (Intellectual property is a category of property that includes intangible creations of the human intellect such as copyright, patents, trademarks, and trade secrets), real estate, financial investments, and movable property can apply for D7 Portuguese Visa to get a residence permit.
Eligibility requirements for Portugal D7 Visa
Many people with sufficient financial resources are reluctant to migrate through work and study and do not intend to invest a large amount of money in the destination country. D7 Visa of Portugal is the best option for people who are looking for a pathway which is neither temporary like tourist visa, nor expensive such as immigration through investment.
To be qualified to obtain Portugal D7 Visa, the applicants must be a non-EU national with no criminal records. They also need to have recognized and sufficient monthly income to support their life during their stay in Portugal.
Procedures of applying for Portugal D7 Visa
Naturally, there are pre-determined steps and rules for obtaining Portuguese Passive Income Visa, in fact, self-sufficiency is one of the fastest and easiest ways to obtain permanent residency in Portugal.
In order to receive this visa, the applicants must prove that they will not have any problems paying the living expenses in Portugal without having to work in this country.
Portugal Passive Income Visa, is first issued in the form of a short-stay visa. After receiving a 4-month visa and entering the country, the applicant sets an appointment with the Portuguese Immigration and Borders Service, and will be granted a one-year residence permit. This permit will be extended twice, each lasting for two consecutive years, and after 5 years it will be possible to obtain permanent residence in Portugal.
Shortly, you need to:
- Apply for the temporary D7 Visa,
- Attend your appointment and enroll your biometric data,
- Get your D7 Residency Visa.
The minimum stay requirements for Portugal D7 Visa
After getting your D7 Residency Visa for 1 year, you need to follow the timeline as below:
Required documents to obtain Portugal Passive Income Visa (D7 Visa)
- D7 application form,
- Your passport or other travel document,
- Valid travel insurance,
- Tax number,
- Proof of accommodation to live in Portugal,
- Proof of a recognized regular or passive income,
- Proof of eligibility for applying residency of Portugal,
- Criminal Record consultation by Portuguese Foreigners and Borders Service (SEF),
- Criminal background check issued by the applicant home country or the country where he/she resided for more than one year.
Income requirements to obtain Portugal D7 Visa in 2021
To be eligible for Portugal D7 Visa, the applicants must prove that he/she has enough income for living in Portugal as mentioned in the following table:
Benefits of Portugal D7 Visa
The Retirement Visa or D7 Visa is much faster and more cost-effective than any other Portuguese visas. Here are some of the most important benefits of the D7 Visa:
- Live, work, and study in Portugal,
- Fast visa process,
- No need to make an investment in Portugal,
- Eligibility of the entire family members,
- Tax benefits via NHR (Non-Habitual Tax Regime)
- Access to the National Health Service Care,
- Permanent free entry and circulation in the Schengen area (26 countries),
- Portugal citizenship after 5 years,
- Access to the National Education service and school in Portugal,
- Access to vocational schooling in Portugal,
- Work as an independent professional in Portugal,
- Benefit from the Portuguese law and legal system.
Tax Benefits of Portugal Passive Income Visa (D7 Visa)
The holders of D7 Visa of Portugal can benefit from the Non- Habitual Tax (NHR) Regime. This generous tax program offers tax-free incentives on certain conditions for 10 years.
The following types of income can go under the NHR program:
- Real estate income,
- Occupational pensions,
- Capital gains from real estate disposal,
- Profits derived from eligible business or self-employment occupations.
Differences between Portugal D7 Visa and Portugal Golden Visa
Portugal D7 Visa is ideal for foreign Non-EU citizens who have stable passive income sources and seek to get Portuguese residency and finally citizenship without making any definite investment in the country.
The table below shows some key differences between the D7 Visa and the Golden Visa of Portugal:
Now, if you are ready to change your living style and to start a new life in Portugal, the D7 Visa offers you Portugal residency in as little as 4 to 6 months.
For more detailed information on the requirements for obtaining Portugal’s passive Income Visa, please contact one of our advisers in the UAE, Denmark or Canada, we will accompany you and your family until you obtain a residency permit in Portugal.
If you have any questions or comments about the Portugal Residency Visa, you can share them with us in the comments section.