You would instead pay taxes in your country of origin. Can I get to the USA or the EU with a third-country passport? Once you become a resident, you can access the Public Health Care System (SNS) without insurance by registering with your local health care center. To be eligible, you cannot have been taxed in Portugal during the five years before the application. Acontract forthelease or sale ofan apartment inPortugal. New tax residents ofthecountry can obtain Non-habitual Resident status for10 years. Attaining Portuguese citizenship also necessitates a basic proficiency in the language, currently set at an A2 level. Forexample, you can refer tocreating jobs inaregion withahigh percentage ofunemployment among locals. 2023 Update: Portugal's Golden Visa Coming to an End Santa Maria, The Sunshine Island of the Azores, Terceira Island, The Festive Island of Azores. Aflat income tax rate of10% applies topension payments fromother countries. Independent service providers must submit a written contract or proposal detailing the provision of their services as part of their application. It also offers the standard benefits of residency that everyone wants: ability to apply for Portuguese citizenship after 5+ years, access to the Portuguese health system, easier travel within the Schengen Area, and family reunification. It is required foropening abank account. On the other hand, if you are an entrepreneur that wishes to have a nice, peaceful life in Portugal, this is one of the ways. It requires a significant investment in Portugal, such as purchasing property worth at least 500,000, investing 1 million in capital, or creating at least ten jobs. Portugal D2 Entrepreneur Visa 2022 - 2023 Terms and fees The program Today marks 49 years since the Carnation Revolution of April 25, 1974, and among almost fifty years of democracy, we may ask ourselves, what a non-habitual resident (NHR) and enjoy the incentives of this fiscal regime. In short, some of your priorities should focus on: As said previously, it is really important to show the Portuguese government that your business is viable. Preparing a Business Plan FR | DE | ES, The D2 Visa: Portugals Residency Visa for Entrepreneurs & Independent Service Providers, https://www.lendingtree.com/business/small/failure-rate/, https://www.vfsglobal.com/one-pager/portugal/india/english/pdf/Residence-visa-independent-profissional-activity.pdf, A Guide to Portugals Different Residence Permits (D1-D9). 500,000 fornew residential or commercial property; 400,000 forreal estate built less than 30 years agoinasparsely populated area; 350,000 forproperties over 30 years located inareas forrestoration; 280,000 forold properties inan area withlow population density. This is because crypto is viewed as a form of payment, rather than an asset. The Portugal D2 Visa allows you to enter Portugal and the Schengen area (26 EU countries). You need to provide evidence that you have the necessary financial capacity to support and sustain your company throughout the duration of your intended stay in the country. This includes employment and self-employment income from activities of scientific, artistic, or technical character performed in Portugal. WithaPortugal D2 business visa, theapplicant obtains aresidence permit forthemselves and their family members. Links to external websites do not constitute an endorsement. 69.163.216.121 A professional will look at your profit and frequency of trade to determine if this is the case. The D2 Visa, also known as the Immigrant Entrepreneur Visa for Portugal, is a type of visa for those outside the EU and Schengen Area who would like to open an investing activity in Portugal. The small print: Portugalist may generate a commission from mentioned products or services. 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. Today, we will be talking about the D2 Visa for Portugal (for entrepreneurs). Portuguese authorities must be assured that your venture or service activities will generate sufficient income to support your stay in Portugal. As well as meeting this requirement, some of the more specific application requirements include: You do not need to speak Portuguese in order to be accepted for the visa, although its obviously recommended that you learn especially if you plan to do business with Portuguese companies or with Portuguese customers. In case you already have your own company in Portugal, you can also apply for Portugals D2 Visa. It's acontractual relationship betweentwo people living together. The D7, the Golden Visa, or the D2: Which Is Right For You? Often referred to as the Entrepreneur Visa, the Portugal D2 Visa is intended for non-European Union and non-European Economic Area citizens. Your business plan must also meet the approval of the Portuguese authorities by demonstrating its social, economic, and cultural impact. You will renew your residency until the 5-year mark when you can apply for permanent residency. 250,000 tosupport thecultural heritage ofthecountry. In case you already own a company in Portugal and now you are interested in living in Portugal and making Portugal your primary residence, you can do so. 1. 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. To be eligible, you cannot have been taxed in Portugal during the five years before the application. We will send the guide to your email address. Curious about investing in Portugal? The process might take a while since its necessary to validate your business idea/concept. See instructions. The Portuguese government will allow you to bring all those who depend on you, as you as you prove means of provide for them here in Portugal. It's perfect for those that want to move to Portugal, but still want to be able to travel (other visas require you to spend 8+ months of the year in Portugal). Portugal D2 Entrepreneur Visa Program 2022 | Ultimate Guide PDF, 12 pages, 392 kb. I am from Pakistan and have been living and running an international trading company in China since 2016. Who can get Portugal residence permits withaD2 business visa holder? 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. The D2 visa essentially grants you the travel rights of all European Union citizens. Therate applies if theforeigner obtains thestatus ofanon-permanent resident afterApril 1st, 2020. In fact, owning a company and having the proof that it is viable and a good asset to the Portuguese system will only increase your chances of getting the much desired D2 Visa. Portugal Visa Program | THINC | The In-house Company Companies inPortugal pay income tax atarate of21%. Portugal Digital Nomad Visa: Should I get a D2 or D7 visa? Ive already running a business in the field of Grain market. The country needs to see value in your activity and that you really have the means to open your activity. Adeveloped railway network provides access toEuropean economies. Afterfive years ofliving inthecountry, they can apply forpermanent residence or citizenship. UK entrepreneurs who can longer access the European market are in luck with the Portugal D2 Visa. Ease ofstarting abusiness. Below youll find some information about another type of Entrepreneur Visa for Portugal, the Portugal Start-up Visa. - Personal and company NIF (Tax Identification Number) Access to an ecosystem of startups and competitive companies; Highly qualified employees (for an affordable cost); Long waiting time until you get your residency (and become 100% legal). If thecompany is already open, founding documents and financial statements. The whole process of obtaining Portugal citizenship after acquiring a residence permit by investment, a D7 or D2 visa, takes about 6 years and either a minimum initial contribution of 250,000 or 8,460 of minimum annual permanent income for the main applicant. The D2 Visa is a Portugal residency visa for entrepreneurs. It also offers the standard benefits of residency that everyone wants: ability to apply for Portuguese citizenship after 5+ years, access to the Portuguese health system, easier travel within the Schengen Area, and family reunification. One thing you could also consider is opening your company before applying for the Visa. This is lal Muhammad from Pakistan and I have small business here in Pakistan Know all the requirements and benefits. After 5 years, you can become a permanent resident of Portugal and after 6 years you can become a Portuguese citizen. Lawyers specialized in Immigration Law. 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. Costs associated with a Portugal D2 visa. Can I open acompany withaPortugal D2 visa? Submit documents and get aD2 visa. - Employment contract Join Us for This Webinar on the Portugal Golden Visa Changes 2022! SA (Sociedade Annima) is thestandard format forcompanies withan authorised capital of50,000 or more. Hi! Some of the requirements for independent service providers include: In the past, many independent service providers were able to apply for the D7 instead and were advised by their lawyers to do so. Becoming a Citizen The plan should clearly show how your business will not only thrive but contribute to the growth of the Portuguese economy. Free medical. Recommend it to your best friend, your mom, the stranger you met at Starbucksor maybe even your arch-enemy? The Portugal D2 Visa is less known than the D7 Visa and the Golden Visa but can be a viable route to permanent residency and citizenship for those looking to work for themselves in Portugal. All our articles are written by expats that live (or lived) in Portugal. As part of the Portugal D2 Visa application process, non-EU citizens are obligated to designate a Tax Representative in Portugal. professionals. Buying aproperty inPortugal is among the7 investment options and is most often chosen byapplicants. From getting permanent residence to tax incentives, family reunification grants all the same rights to your family. D2 Visa for Portugal - What is it? Your IP: In this sense the employee pays 11% and the employer pays 23.75%. If youre just looking for a way to live in Europe, it might not be the most efficient way. The country attracts . It's a Schengen visa that allows you to travel to the Schengen zone countries (27) freely. Investments inreal estate are thefollowing: Investments inscience and culture imply: Theinvestor can include family members intheapplication: spouses, children and parents over 65. This visa type offers a unique investor-entrepreneur residency pathway, partnering entrepreneurial investors with Portuguese universities to develop a research-driven startup. 3. When applying for the D2 Visa for Portugal you are basically asking to be allowed to live in Portugal and enjoy the benefits of the country, as well as the benefits of being part of the EU and Schengen Area. Afterapproval, theapplicant receives thepassport withapasted visa. - Bank Account in Portugal with share capital duly received Family members can live, work and study in Portugal. We are talking about a small or medium company with some relevance in a social, economic, technological, scientific or cultural area. Additional costs foraD2 visa include health insurance costing atleast 400. Tomaintain thestatus ofaresident, you must spend 6 months continuously inPortugal duringtheyear, or 8 months intotal. You might be thinking that you need to open a giant company and employ dozens of people, but thats not the case for this type of Visa. Portugal Citizenship by Investment 2023: How to Get Portuguese Passport The plan should demonstrate how your business will flourish and contribute to economic growth in Portugal. If your pension income is taxed in Portugal, it will be at a flat rate of 10%, including retirement savings and insurance. Ontheappointed day, theapplicant submits documents foravisa and pays aconsular fee of90. If successful, you will be issued a four-month Portugal D2 Visa to travel to Portugal to apply for residency. We can help you get your NIF and satisfy the mandatory tax representative requirements. Portugal D2 Visa: A Path to Citizenship for Entrepreneurs The D2 Visa provides a pathway to permanent residency in Portugal. This process takes place after you get to Portugal. Obtaining a tax identification number (NIF) and opening a bank account in Portugal are crucial steps in the D2 Visa application process. Afterfive years ofliving inthecountry, they can apply forpermanent residence or citizenship. You should correct this. The Portugal D2 Visa is segmented into two distinct categories, each catering to different types of entrepreneurs. APortugal Startup Visa is issued foropening an innovative startup based onabusiness incubator. Get a fee concession for School going Children. Therefore, a couple with one child would require around 16,500 per year to meet the eligibility criteria. This alternative is designed for those offering services to local or global clients, with fewer requirements than the entrepreneur route. Despite common misconceptions, prior criminal records do not automatically disqualify you from visa eligibility, depending on the nature and severity of the offense. And, because youre opening a company, youll probably need an accountant as well. There is also a new type of visa that allows foreign citizens to travel to Portugal in order to look for work. Therelaxed environment and Portuguese friendliness attract investors tothecountry. Residential Address Themain applicant over 18 years ofage provides acertificate ofnocriminal record and documents forthecompany and confirms theavailability of9,120. WithaD2 business visa inPortugal, theapplicant obtains aresidence permit forthemselves and their family members. Lets delve deeper into the key documents required in your Portugal D2 Visa application: You must submit a declaration stating that you have already made or plan to invest in Portugal, providing details about the nature, value, and duration of the investment. I will be very grateful to you. All rights reserved. Save my name, email, and website in this browser for the next time I comment. - NISS (Social Security Number) This income could come from a locally incorporated company or contracts with clients. 90. Is there documents should I bring to the SEF appointment besides visa and passport? Prepare your business plan and the supporting documentation: This means you have to find the Portuguese embassy or consulate in your country, make an appointment and then make your case. Its designed specifically for non-EU/EEA/Swiss entrepreneurs or self-employed individuals who want to start a business or invest in Portugal. Each source ofincome and country oforigin is considered toqualify fortax exemption. Tomaintain residency, theentrepreneur must spend 6 months continuously duringtheyear, or 8 months intotal inPortugal.