January 10, 2024

Portugal D2 Business Visa

With a D2 visa, business owners, independent contractors, and service providers can reside in Portugal. According to the Portuguese government, the aim of this visa is to draw in international funds and investments in order to develop the Portuguese economy. This visa is only available to non-EU/EEA/Swiss nationals who intend to start a business in Portugal or relocate an existing one. You can also choose to put money into an existing Portuguese business. Although the Portugal D2 Visa is less well-known than the D7 and Golden Visas, it can still be a viable choice for those who desire to work for themselves in Portugal and gain citizenship.

D2 Visa Requirements for Portugal

You can be qualified for a Portugal D2 Visa if you're an independent contractor, freelancer, or business owner from outside the EU/EEA/Switzerland who wants to live in Portugal. You must provide evidence that either you have established a business that operates on Portuguese soil or that you have the financial means to do so in Portugal. A bank in Portugal can provide you with proof of loan so you can get these funds. Although there is no set amount that you must have, it is advised that you have at least €5,000.

You'll also need to demonstrate that you have the resources to support yourself. You, as the primary applicant, must possess 100% of the annual minimum wage of €8,460. You must increase this by 50% (or €4,230) for a spouse and by 30% (or €2,538) for a dependent kid. In order to qualify for the D2 visa, a couple with one child would therefore need to earn about €15,300 annually. Additionally, candidates must submit a strong business strategy, which will be evaluated for its effects on society, the economy, and culture. This strategy should demonstrate how your company will succeed and stimulate the economy.

Finally, candidates must justify why Portugal is their preferred location for their firm in their application. Instead of concentrating solely on the cost of living and climate—basically, why the country would be advantageous for you—consider how your company would affect Portugal and meet the requirements of the populace. It's possible that you'll be generating lots of jobs in Portugal or resolving a specific problem that the nation hasn't yet dealt with.

Who can obtain a D2 visa for Portugal?

For company owners, freelancers, and independent service providers from outside the EU and Schengen Area who want to start (or transfer) a business or startup, or who have already invested in a business, in Portugal, there is the D2 or Immigrant Entrepreneur Visa. If your application is accepted, Portugal will offer you residency. You'll have the right to do both if you do this in Portugal. You can also travel for business or leisure inside the Schengen region (but not relocate).

Why Should UK Citizens Apply for a Portugal D2 Visa After Brexit?

With the Portugal D2 Visa, UK business owners who previously had no access to the European market are in luck. After five years and six years, respectively, you can apply for citizenship to regain the privileges you lost as a result of Brexit. The D2 Visa would greatly simplify your life after Brexit, enabling you to travel throughout the Schengen region and live and work in any EU nation.

Cryptocurrency D2 Visa for Portugal

Due to Portugal's lax or nonexistent cryptocurrency legislation, many cryptocurrency traders use resident visas from that country, such as the Portugal D2 Visa. One of the last crypto tax havens in Europe is Portugal. Portugal does not have a capital gains tax, unlike in nations like the US, anyone who sells bitcoin is subject to one that can be as high as 37%. Making the move to Portugal meant paying no taxes on your cryptocurrency gains. No income tax, capital gains tax, or VAT will be due when you convert your cryptocurrency to fiat money.

The Portuguese Tax & Customs Authority (PTA) formally declared in 2019 that purchasing or selling cryptocurrencies in Portugal is tax-free, despite the fact that many people were unaware of these rules. This is due to the perception of cryptocurrency as a payment method rather than an asset. Businesses that offer cryptocurrency-related services, meanwhile, must pay between 28% and 25% in taxes on their profits. You will also be responsible for paying this tax if trading cryptocurrency is your major source of income or your principal occupation. Make sure to speak with a tax professional in Portugal as it can be difficult to tell whether this is the case. If this is the case, a specialist will examine your profit and trading frequency.

Portugal D2 Visa: Portuguese healthcare

You must acquire health insurance for your stay in Portugal while requesting a D2 visa. As soon as you move in, you can register with your neighborhood medical facility to use the Public Health Care System (SNS) without having insurance. All Portuguese nationals and foreign residents have access to the SNS, which was founded in 1979 and is largely free. According to the Euro Health Consumer Index, it has significantly improved over the past ten years and now ranks 13th for the best healthcare in Europe. Nearly all services in the SNS are free, but you might have to pay, often between €5 and €20, for particular exams. However, there are no expenses for anyone under the age of 18 or who is beyond the age of 65 because every service is totally free. The SNS offers a wide range of services, from maternity care to psychiatric care.

D2 Visa and Important Information

The authorities can only learn about you and your plans through your application and supporting documentation, therefore it is crucial that you navigate the procedures with the aid of experts with plenty of knowledge in this particular field. Many applicants are denied a visa because they lack the necessary documentation or have a weak and potentially harmful application structure.

Make a note of the requirements outlined in this article or contact Pelican migration consultants who are knowledgeable in such matters if you want to prevent any delays or problems with your visa application (especially the Portugal D2 visa, which demands great precision).

Process for Applying for a D2 Visa

Make your company strategy first, then collect all the required paperwork. The Portuguese Embassy or Consulate in your country must then be contacted, and a D2 Visa application must be submitted.

You will require the following paperwork to support your application:

  1. Visa application form for a visa (minimum 3 months validity for the duration of the stay)
  2. Two recent, high-quality passport photographs
  3. Adequate medical coverage that includes emergency medical help and repatriation, as well as legitimate travel insurance
  4. You must show proof that your status is legal if you don't have citizenship in the country where you are living.
  5. Criminal history certificate produced within the last three months for you and any dependents who are at least 16 years old.
  6. Evidence of the ability to survive. This often translates to an annual minimum full income + €2,160 for each child and €500 for your spouse. Portugal's minimum salary is approximately €7,200, however, it varies annually.

Residency Permit

Similar to the D7 and Golden Visa, the D2 provides a path to Portuguese citizenship as well as a method of remaining in Portugal. The initial validity period for Portuguese residency permits given under the D2 visa is one year. They are then renewed every two years after that.

A D2 visa holder may apply for permanent residency in Portugal after five years of residing there (renewed every 10 years). They are also eligible to seek Portuguese citizenship if they have a Portuguese passport.

For the duration of those five years, you must remain in Portugal for at least six months straight (or eight months if there are breaks) in order to preserve your residency and qualify for permanent residency. However, there is some latitude provided if your line of employment necessitates that you travel outside of Portugal for business.

Would you love to migrate to Portugal?

Pelican Migration Consultants can assist you with planning and management for your immigration to Portugal. We offer professional one-on-one advice to make sure you present yourself to the Portugal Immigration Department in the best possible way. Each of our cases is handled by knowledgeable and skilled immigration consultants. Our experts are skilled and totally knowledgeable about the Portuguese immigration procedure.

We also help our clients with the areas of their immigration applications that they need to complete as well as the required paperwork by making sure the papers are checked. Finally, we work hard to help our clients from the start with every aspect of Portuguese immigration.