Are you an aspiring entrepreneur outside the EU with dreams of relocating to Portugal? If so, the D2 Visa could be your gateway to making your permanent residence dreams a reality.
Known by various names such as the Entrepreneur Visa Portugal, the Start-Up Visa, and the Freelancer Visa, the D2 Visa is tailored for individuals looking to establish a new business in Portugal or expand their existing enterprise to Portuguese territory.
Securing the Portugal D2 Visa brings several advantages for successful applicants, including a residency permit in Portugal and visa exemption when traveling across Schengen countries, among other benefits.
Understanding this visa’s requirements and application process can be complex, so we’ve compiled a comprehensive guide highlighting all the essential information you need to obtain the D2 Visa Portugal. We’ll cover key aspects such as:
- What is the Portugal D2 Visa?
- Benefits of the Portugal D2 Visa
- Who can apply for the D2 Visa Portugal?
- Portugal D2 Visa Requirements
- A step-by-step guide to the D2 Visa application process and more.
What is the Portugal D2 Visa?
The D2 Visa is a Portugal residency visa for entrepreneurs who are not European Union citizens. The Portuguese government introduced the visa to attract businesses or investors who aim to contribute to and grow the Portuguese economy by purchasing existing companies or developing startups.
In contrast to visas such as the Golden Visa or the D7 Passive Income Visa, the Portugal D2 Visa sets itself apart by not necessitating a substantial investment or a steady passive income.
Instead, the Portuguese entrepreneurship visa emphasizes the importance of business investment and the presence of a viable business concept. The D2 Visa Portugal offers versatility, catering to various business types, spanning from cozy cafes to expansive real estate agencies.
There’s no minimum investment requirement for the D2 Visa, but you must have sufficient financial resources to establish and run your business while sustaining your livelihood in Portugal for a year. The D2 Visa is valid for four months, during which the entrepreneur must enter Portugal and apply for a residency permit.
The residence permit post-D2 Visa is valid for two years and can subsequently be extended for three years.
After five years of residency, applying for Portuguese citizenship and/or permanent residence is possible.
Types of Portugal D2 Visa
The Portugal D2 Visa encompasses two distinct categories to accommodate the different types of entrepreneurs.
Entrepreneur route
This pathway is suitable for individuals who intend to establish a new business or expand an existing Portuguese business. To qualify for the D2 Entrepreneur Visa Portugal, certain requirements must be met:
- Obtaining an NIF number (Portuguese tax number)
- Opening a business bank account with a Portuguese bank
- Establishing a Portuguese limited company (LDA)
- Employing an accountant well-versed in the Portuguese tax system
Additionally, it is necessary to demonstrate sufficient financial means to initiate and manage the company, which includes fulfilling obligations such as paying annual corporation tax and social security contributions.
Entrepreneurs may be considered for the Portugal D2 Visa under one or more of the following criteria, namely:
- The acquisition of a Portuguese company
- Having a pre-existing company abroad
- Provide proof of intention to invest in a Portuguese territory duly described and identified in a business plan
All applicants must demonstrate their business’s potential economic and social contributions to Portugal.
Independent service provider route
The second category, known as the independent service provider route, is specifically designed for individuals, such as freelancers, offering services to local or global clients. This route entails fewer requirements compared to the entrepreneur route.
Here are the key aspects of the D2 Freelancer Visa:
- Obtaining a NIF
- Opening a bank account in Portugal
- Demonstrating the existence of a self-employment agreement, or promise of a self-employment agreement, with a Portuguese-based company.
Suppose the services provided by your company are delivered remotely to clients located outside Portugal. In that case, alternative options such as the D7 Visa or the D8 Digital Nomad Visa are worth considering. These options might be more suitable in such cases. For the D7 Visa, you’ll need income equal to the Portuguese minimum wage of €820.
For the D8 Visa, your income must be four times the Portuguese minimum salary, which is €3,280.00
What are the benefits of the Portugal D2 Visa?
Acquiring the Portugal D2 Visa offers numerous benefits such as residency in a developed and safe European nation, the opportunity to establish a business in Portugal, a residency permit for non-EU/EEA citizens, visa-free travel across the Schengen countries, and a few additional EU countries, access to the European market, tax incentives, and the possibility of applying for citizenship and/or permanent residence permit after five years of residency.
Below are some of the key advantages of the Portugal D2 Visa.
Opportunities for entrepreneurs
The D2 Visa authorizes you to set up a business or function as an independent professional in Portugal, opening doors for your entrepreneurial ambitions. Major cities like Lisbon and Porto offer an array of affordable, modern co-working spaces. Furthermore, long-term commercial space rentals in Lisbon can be up to 80 percent cheaper than startup locations in London, reinforcing Portugal’s appeal for startups.
Visa exemption across the Schengen Area
The D2 Visa permits unrestricted entry and movement within the Schengen Area, including 27 European nations, without needing another visa. This privilege provides you with the same travel freedoms as European Union citizens, facilitating easy networking and the development of business relations across Europe and the Schengen Area.
Family reunification
The D2 Visa also provides for family reunification in Portugal. This means your family members, including your spouse, children, parents, or dependent siblings, can join you and reside in the country.
Non-Habitual Resident (NHR) tax regime
Important Note: As of 2024, the NHR program is no longer available for new applicants. Read more here: Is The Portugal NHR Program Ending?
Non-Habitual Residence (NHR) status in Portugal refers to the process by which individuals can establish their tax residency in the country, granting them significant tax incentives for ten years. As a holder of the D2 Visa, you become eligible to apply for Portugal’s Non-Habitual Resident tax benefits if your home country has a Double Taxation Agreement (DTA) with Portugal.
In January 2024, the NHR ended, with a transitional regime being implemented until the first quarter of 2025. Before the legislation was changed, the tax regime was open to individuals to allow foreign nationals preferential tax treatment on income tax, rental income, pension income, etc. With your registered tax residency in Portugal, members would benefit from tax incentives for non-Portuguese sourced income and wouldn’t pay taxes at the usual rate.
In line with the new legislation, individuals who have the right to reside in Portugal (citizens of the EU/EEA/Switzerland or holders of residence permits) and have not been tax residents in Portugal in the past five years can still apply until 31 March 2025, provided that they meet at least one of the following requirements:
- Having an employment contract signed/to be signed by 31 December 2023
- Having a lease agreement or other contract for the use/possession of property signed by 10 October 2023
- Having a contract to buy property in Portugal signed by 10 October 2023
- Having children enrolled or registered in a school in Portugal by 10 October 2023
- Having a residence visa or a residence permit valid from 31 December 2023
- Having an application for a residence visa or residence permit initiated by 31 December 2023
- Being a member of the household of anyone who meets the above criteria
Anyone who qualifies under these conditions will have NHR status from the date that they become a tax resident — whether that’s in 2024 or in the first quarter of 2025 — until December 31, 2033.
Non-habitual residents must maintain residency for up to 183 days a year in Portugal or show proof of accommodation (either a rental contract or purchased property) inhabited as if it is their primary residency.
Route to permanent residency and citizenship
After five years of legal residency in Portugal, you may be eligible to acquire a permanent residence permit and Portuguese citizenship under the country’s residency program. It’s worth noting that citizenship usually involves passing a basic test in the Portuguese language and culture.
This is one of the top benefits for non-EU citizens, including Americans moving to Portugal.
Residential rights and service access
With Portuguese residency, you and your family members gain access to the public healthcare system, and your children can register in the public education system, providing essential services for your family’s well-being.
Required Documents for Portugal D2 Visa Application
Application for the Portugal D2 Visa requires both business and personal documents.
Required business documents
Business plan
A meticulously crafted and comprehensive business plan is required, which will be rigorously evaluated based on its social, economic, and cultural implications. Your business plan must demonstrate how your business will prosper, stimulate the Portuguese economy, and aid Portugal’s economic growth by paying corporate tax.
Your business plan also needs to include:
- Personal and company NIF number
- Social Security number
- Business certification
- Social Security tax receipts
- Your Portuguese business bank account details
- Bank statement with proof of capital transfer
- Employment contracts
Investment declaration
A declaration indicating that you have invested or intend to invest in Portugal, detailing the investment’s type, worth, and timeframe, is required. Factors such as your investment’s economic, social, scientific, technological, environmental, or cultural value will be considered when assessing your visa application. Plus, creating job openings in Portugal will significantly enhance your application.
Financial ability
Proof of having the financial capability to support and maintain your company throughout your planned stay in the country is essential, particularly to prove you can pay corporate tax. Demonstrating the financial viability of your business and its capability to prosper during your stay in Portugal is crucial.
Share capital
The share capital is the minimum initial investment needed to ensure the business operates smoothly, even when it may not profit. In Portugal, small businesses usually have an average share capital of €5,000, a benchmark worth considering when applying.
Company establishment
Evidence of having set up a company within Portuguese jurisdiction or of having adequate financial resources in Portugal, as well as documents indicating your ability to establish a company in the country, are required.
Service contract
Independent service providers must include in their applications a written contract or proposal outlining their service provision.
Required personal documents
NIF and Portuguese bank account
To apply for a D2 Visa in Portugal, you must secure a Tax Identification Number (Número de Identificação Fiscal or NIF) from the Portuguese tax authorities. You’ll also have to open a personal and business Portuguese bank account. These two steps are essential for the D2 Visa application process.
Criminal background check from country of origin
A clear criminal record certificate from every country you have lived in for over a year is typically required. This document should be no more than three months old when applying. Although many people believe otherwise, having a criminal record does not automatically exclude you from visa eligibility requirements—it depends on the nature and severity of the crime. A criminal record that includes crimes that would lead to a prison sentence in Portugal could potentially cause an issue with your application. In these cases, it’s best to consult an immigration specialist.
Designation of a tax representative
Non-EU citizens are required to appoint a tax representative in Portugal as part of the D2 Visa application process.
Personal financial requirements
You must provide proof of sufficient financial resources to support yourself and your dependents for a year, such as bank statements separate from your business earnings. The primary applicant is required to maintain a minimum balance of €19,680.00 (which is double the annual minimum salary in Portugal) in a bank account in Portugal throughout the application period (2 years).
To meet the Portugal D2 Visa financial prerequisites, This balance increases with each family dependent:
- An extra 50 percent €9,840.00) is needed for a spouse or any other family member over 18,
- An extra 30 percent(€5,904.00) is needed for each family member under 18.
For example, a family of four with two adults and two minors must meet minimum income requirements and maintain at least €41,488.00 in their Portuguese bank account during the family reunification period.
Proof of accommodation in Portugal
Proof of secure accommodation in Portugal must be provided. This can take the form of a rental contract, property ownership documents, or a letter of invitation from a friend or relative who is a legal resident of Portugal.
Travel insurance cover for at least six months
You should have at least six months of travel insurance coverage, which covers the initial four-month Portugal D2 Visa and the waiting period for registering as a resident with AIMA (former SEF, the Portuguese immigration and borders service). Once you receive your temporary residence permit, you’ll be eligible for Portuguese state healthcare.
While legal residents can benefit from Portugal’s public healthcare, many also opt for private health insurance. Private health insurance prices range between €30 and €150 per month, depending on the coverage and the individual’s age.
Empower yourself with our comprehensive guide, ‘Healthcare in Portugal – A Complete Guide for Expats. Packed with critical information, it demystifies the healthcare landscape in Portugal for expats. This indispensable resource is your key to confidently navigating the Portuguese healthcare system.
Other personal documents required are:
- Completed D2 Visa Portugal application form
- A valid passport and a certified copy of it – which must be valid for at least six months after your visa expires
- Two color photographs (3×5 cm)
- Proof of financial resources
- Health insurance
Applying for a Portugal D2 Visa
The process of acquiring a Portugal D2 Visa, also known as the Immigrant Entrepreneur Visa, typically takes about two to three months if you already have a business plan or a company in Portugal. Following the acquisition of the Portugal D2 Visa, the applicant can then apply for a Portuguese residency permit.
To apply for a D2 Visa Portugal, consider the following steps:
- Obtain a Portuguese Taxpayer Identification Number (NIF)
- Open a personal and business bank account in Portugal and deposit funds into it
- Arrange for long-term accommodation in the country by either buying or leasing a property for a suggested minimum of one year, even if the agreement includes a provision for early termination
- File the application online via the E-Visa Portal or VFS. This can be done through the Portuguese Consulate or Embassy in your home country.
The Portugal D2 Visa application process occurs in two separate phases. In the first phase, most of your documents, including your business plan, are submitted to the Portuguese Embassy or Consulate in your country of residence. Upon approval of your application, you will be asked to attend an interview. If successful, a four-month Portugal D2 Visa will be granted, enabling you to travel to Portugal and enter Portugal to apply for residency.
The second phase happens in Portugal with the Agency for Integration, Migration, and Asylum (AIMA). AIMA schedules an appointment for you, and you’ll be sent an appointment date with your visa. Suppose all available AIMA appointment slots exceed your visa’s validity. In that case, your legal status in Portugal remains unaffected past the four-month visa term as long as an appointment has been scheduled.
Costs of Obtaining a Portugal D2 Visa
While there’s no predefined amount for business investment, entrepreneurs must demonstrate their financial capability to operate the intended business. In addition, proof of adequate funds to sustain yourself in Portugal for a year, equal to at least €10,640, and proof of rented or owned accommodation in Portugal are necessary.
Other costs include government fees, which are €90, health insurance, and legal services.
Portugal D2 Visa vs. the D7 and Golden Visas: What option to choose?
A comparison of the D2 Visa, D7 Visa, Startup Visa, and Golden Visa in Portugal
Each visa serves a different purpose depending on an individual’s intentions and capabilities. The choice largely depends on an individual’s financial situation, business ideas, and immigration goals.
For example, the D7 Visa is suitable for those with a steady passive income who wish to live in Portugal without necessarily starting a business.
The Startup Visa is ideal for individuals or teams with a disruptive business idea who intend to scale their innovative startup from Portugal. Alternatively, the Golden Visa requires a substantial investment into a designated government program but provides a swift path to residency, making it appealing to high-net-worth individuals.
All of these visas allow temporary residence permits of two years, which can be further renewed.
An additional visa is the Portugal HQA Visa, or the Portugal Highly Qualified Visa, which aims to attract workers with high professional qualifications. It is also a two-year contract designed for those with the promise of a work contract or self-employed contract.
Take a look at our Portugal Golden Visa Ultimate Guide by local experts
How to get Portugal Citizenship or Permanent Residency After the D2 Visa
Once you’ve resided legally in Portugal for five years on a Portugal D2 Visa, you can apply for citizenship and permanent residence.
Permanent residence requirements
To apply for a permanent residency permit through the Portuguese entrepreneur visa, you will need to fulfill several key criteria:
- Permanent residency requirement: You must have lived in Portugal for at least five years. This period doesn’t have to be continuous. Still, there should not be any gaps longer than six consecutive months or eight non-consecutive months within the validity of the residency permit.
- Financial stability: You must prove that you have stable and regular resources sufficient to maintain yourself (and any dependents).
- Accommodation: You must demonstrate that you have a place to live in Portugal. This could be proof of property ownership or a rental agreement.
- Clean criminal record: You must have a clean criminal record. This generally means that you have not been convicted of any crime with a prison sentence of more than one year in Portugal.
- Social security: You need to register with the Portuguese Social Security and demonstrate regular contributions over the period of your residence. This will require getting an NISS number, which is essentially the same as a social security number in the US.
- Health insurance: Although you will have access to the national healthcare service as a legal resident, you must possess valid health insurance until you become a permanent resident.
- Integration into Portuguese society: This could include factors like language proficiency, community involvement, or other evidence of your commitment to living and integrating into Portuguese society.
After gathering the necessary documents according to the aforementioned, you must book an appointment with AIMA to submit your permanent residency application.
Portuguese citizenship requirements
One of the crucial requirements to become a Portuguese citizen is to prove proficiency in the Portuguese language.
Language proficiency is required only for applicants who come from non-Portuguese-speaking countries. They must demonstrate a minimum proficiency in the Portuguese language, equivalent to level A2 or higher.
Final Notes and Checklist for Obtaining a Portugal D2 Visa
Before you begin the process of acquiring the Entrepreneur Visa Portugal, ensure you have a viable business idea or an existing company, enough financial resources to sustain your life in Portugal for a year, and proper accommodation. You also need to prepare the required documentation for the visa application and ensure all the details in your business plan are accurate and clear.
Conducting initial due diligence is crucial. This involves researching the Portuguese market, understanding the existing startup ecosystem, and determining the feasibility and scalability of your innovative business venture or idea in Portugal. It’s beneficial to familiarize yourself with Portugal’s culture, laws, regulations, and potential business challenges.
Consider legal immigration advice for a seamless process, and always stay informed about the latest updates in immigration law and procedures.
Why choose Global Citizen Solutions for your Immigration Visa?
GLOBAL APPROACH BY LOCAL EXPERTS
- GCS has offices located across Portugal.
- Members of the US-Portugal and UK-Portugal Chambers of Commerce in Portugal, and the Investment Migration Council (IMC).
- Our expert team can help you throughout your journey to secure your Visa.
100% APPROVAL RATE
- Our successful track record in applications provides reassurance to applicants.
- We have helped clients from more than 35 countries secure residency in Portugal.
ALL-ENCOMPASSING SOLUTION
- With a single channel of communication, our approach ensures that you have complete clarity on your application.
- Our BeGlobal® Onboarding System allows for a total flow of information.
TRANSPARENCY AND PRIVACY
- Our pricing is clear and detailed, you will not face any hidden costs.
- All data is stored within a GDPR-compliant database on a secure SSL-encrypted server.
Frequently Asked Questions about the Portugal D2 Visa in 2024
What is a D2 Visa in Portugal?
The Portugal D2 Visa is a long-term visa for entrepreneurs, freelancers, and independent service providers. This startup visa is a viable route for you to immigrate to Portugal to start a business/startup, open a branch of an existing business in the country, or invest in one already existing in Portugal.
The Portugal D2 Visa was introduced by the Portuguese government to attract foreign investment and raise external resources to stimulate economic growth in Portugal.
The Portugal D2 Visa allows opportunities for family reunification, low-income tax, a temporary residence permit, and the opportunity to acquire a Portuguese passport after five years.
Can family members join under the Startup Visa program?
When you receive a Portugal Startup Visa, one of the key benefits is the possibility of family reunification. This allows your family to join you in Portugal while you establish your business. Your spouse, dependent child/minor children, or financially dependent parents can apply for their own Portuguese residency permits. The application for family reunification can be made concurrently with your visa application. However, it’s crucial to note that the approval of their visas is contingent on your visa being granted.
Once in Portugal, your family can live their regular lives, which includes pursuing professional activities. This means your spouse or adult children can work, study, or start businesses.
To apply for family reunification, certain documentation requirements must be fulfilled. These may include proof of family ties, such as marriage or birth certificates, and evidence that you have enough money to support them.
Remember, after five years of legal residency in Portugal, you and your family may apply for permanent residency. This Startup Visa program is thus an excellent opportunity to visit Portugal, establish a thriving business, and potentially become permanent residents.
How do I get a Startup Visa for Portugal?
You must meet the eligibility criteria to get a Startup visa for Portugal. These include intending to develop innovative products or services, creating qualified employment, and having the potential for significant business growth.
You’ll then need to gather necessary documents such as a motivation letter, CV, project presentation, valid passport and copy, and proof of financial means. The application is submitted online via the IAPMEI website.
Can a US citizen start a business in Portugal?
Yes, a US citizen can start a business venture in Portugal. They can do so either by moving their existing business or starting a new one. In both cases, they would need to obtain a visa, such as the Startup Visa, specifically catering to entrepreneurs. This would allow them to live and work in Portugal and establish their business.
What are the benefits of the D2 visa?
The benefits of the D2 Visa are numerous. It allows for residency in Portugal with relatively low costs and provides visa-free travel to the Schengen Area. This visa offers opportunities for starting a business venture in Portugal and offers potential tax benefits through Portugal’s Non-Habitual Residency Tax Regime.
Additionally, it provides a pathway to permanent residency and becoming a Portuguese citizen after five years of legal residency.
The country’s thriving startup ecosystem, high English proficiency, and quality of life make it a desirable location for entrepreneurs.
What are the income requirements for the D2 Visa?
There are no income requirements for the Portugal D2 Visa. However, the applicant must prove to have funds to start and run their business. Also, housing and money to live in Portugal for a year are required. The visa validity period is four months.
How much does it cost to get a Portugal D2 Visa?
When applying for the Immigrant Entrepreneur Visa (D2), entrepreneurs must demonstrate their financial capability to operate the intended business. They also have to provide proof of funds to live in Portugal for a year, equal to at least €10,640. Other costs include Portuguese government fees, which are €90, medical insurance, and legal services.
What is the Portugal D2 Visa processing time?
The Portugal D2 Visa is usually issued in around 60 days. Once you have the visa, you’re allowed to enter Portuguese territory and apply for a temporary residence permit.
What is the Portugal Entrepreneur Visa?
The Portugal D2 Visa or Entrepreneur Visa is a long-term visa for entrepreneurs, freelancers, and independent service providers. The D2 is a viable route for those seeking to immigrate to Portugal to start a business/startup, open a branch of an existing foreign business in the country, or invest in one already existing in Portugal.
Golden Visa, D2 Visa, or D7 Visa, which one to pick?
The choice between the Golden Visa, D2 Visa, and D7 Visa depends on your specific circumstances and objectives.
If you seek residency through investment, the Golden Visa is your best option.
Opt for the D2 Visa if you aim to start a business in Portugal. Alternatively, if you have passive income (such as rental income, pensions, and dividends) and desire residency, consider the D7 Visa.
Assess your investment capabilities, entrepreneurial aspirations, or passive income sources to determine which visa aligns best with your goals and needs for residency in Portugal.
How does the D2 Visa differ from the Portugal HQA Visa?
D2 Visa:
- Focuses on entrepreneurs with innovative business ideas.
- Requires a solid business plan and proof of concept for a new, innovative business.
HQA Visa:
- Ideal for highly skilled professionals in specific industries.
- Can be obtained through a job offer with a high salary or by holding relevant qualifications.
