If you are considering the Portugal D7 Visa for 2023, it is important to familiarize yourself with the income requirements and application process.
The Portugal D7 Visa: Explained
The Portugal D7 Visa, also known as the Passive Income Visa, was established in 2007 by the Portuguese Government as a means for non-EU/EEA/Swiss citizens to apply for temporary residency in Portugal. This visa serves as a pathway to obtaining a permanent residency permit and, potentially, citizenship.
The D7 Visa grants legal residence in Portugal to applicants and their family members, with the aim of attracting affluent foreigners to contribute to the country’s economy. It is commonly utilized to participate in Portugal’s Golden Visa Program.
Furthermore, the D7 Visa can be sought by freelancers who wish to establish Portugal as their operational base. However, in order to qualify, freelancers must earn a minimum wage as determined by the Portuguese Government. Detailed information on this can be found in our article on obtaining a Digital Nomad Visa for Portugal.
Eligibility for the D7 Visa is open to all, provided they meet the minimum requirements for passive income. These income requirements will be discussed later in this article.
Upon successfully obtaining the Portugal D7 Visa, it will be valid for a period of 2 years, with the possibility of renewal for an additional 3 years. After a total of 5 years, applicants can choose to apply for Portugal Residency.
It is important for approved applicants to spend a minimum of 183 uninterrupted days per year in Portugal to comply with the visa’s requirements. Alternatively, applicants may opt for an 8-month stay with intermittent breaks throughout the year.
Eligibility for the D7 Visa Application
The D7 Visa is available to individuals of all backgrounds. As long as you are 18 years or older, meet the necessary requirements for the Portugal D7 Visa, and fulfill the eligibility criteria of getting € 760 as monthly passive income.
The Essential Requirements for the Portugal D7 Visa
It is crucial to meet the general requirements for the Portugal D7 Visa application. Below are the key requirements for the Portugal D7 Visa:
Obtain a Portuguese NIF (Tax Number):
Securing a Portuguese tax number is mandatory. This can be accomplished remotely through a power of attorney, without the need to physically be in Portugal. A Portuguese tax number is necessary for any fiscal activities within the country. The most convenient and cost-effective method is to utilize Border.
Have a Portuguese Bank Account:
Once you possess a Portuguese tax number, you can proceed to open a Portuguese bank account remotely. The applicants are required to have a minimum deposit of € 9,120 in their bank account.
Demonstrate Financial Self-Sufficiency: Applicants must prove their financial capability to sustain themselves and any dependents while in Portugal. Specific income requirements exist, and it is recommended to consult the relevant authorities or consulate for the most up-to-date information.
Provide Proof of Accommodation:
Evidence of suitable accommodation is essential. This can be in the form of a rental agreement, property ownership documents, or a housing declaration.
Provide a Travel Insurance:
Having comprehensive travel insurance coverage is mandatory for D7 Visa applicants. It is necessary to ensure you have adequate travel insurance that covers your trip in Portugal.
Possess a Clean Criminal Record:
Applicants must provide documentation proving a clean criminal record from their country of origin or any country where they have resided for an extended period. This is to demonstrate good character and compliance with Portuguese immigration requirements.
Meet the Minimum Stay Requirement:
To maintain the validity of the D7 Visa, applicants must comply with the minimum stay requirement, which generally entails spending a specific number of days in Portugal each year. The exact duration may vary, and it is advisable to consult the relevant authorities for the most accurate information.
Please note that these requirements are subject to change anytime.
Proof of Accommodation is Necessary
Prior to your travel to Portugal, it is essential to secure suitable accommodation. While property ownership is not mandatory, you must have a long-term rental lease with a minimum duration of 12 months.
What Happens once after the Portugal D7 visa is approved?
- Initially two years of Residency.
- The Residency is renewable for another three years.
- Then the process of Permanent Residency to Citizenship & passport.
The Minimum Passive Income Requirements?
To meet the minimum passive income requirements for the Portugal D7 Visa, it is necessary to demonstrate € 760 monthly passive income.
How Can Reliance Immigration Services assist you?
Reliance Immigration Services in Dubai is a trusted immigration consultant in Dubai that specializes in executing end-to-end immigration solutions.
We are among the top-licensed immigration consultancies that are operating with all the necessary approvals required by regulatory bodies. As a seasoned immigration services provider.
We are well-versed in the industry and are proficient in analyzing and adapting to the ever-evolving landscape of immigration law, which helps us provide quality services to our clients, without any hassles or delays.
We are more than happy to assist you to make your Portugal Residency dream come true for you and your family.
