D2 Visa Portugal: Ultimate Guide for Entrepreneurs

Portugal’s D2 Visa is a popular choice for entrepreneurs, freelancers, and independent workers who wish to start a business or offer professional services in Portugal. This visa is intended to attract foreign nationals interested in investing in or establishing a small to medium-sized business in the country.

In this article, we’ll explore the finer details and benefits of the D2 Visa, what is required for a successful application, and go through all the documents you need to get your Portugal resident visa and eventual Portuguese citizenship.

What is Portugal's D2 Visa?

Often referred to as the Entrepreneur Visa, Portugal’s D2 Visa is designed for individuals outside the European Union (EU) or European Economic Area (EEA) who wish to start a business, invest in the country, or have been hired as service providers by a company in Portugal.

It caters to entrepreneurs, freelancers, and independent service providers, offering them a pathway to reside in Portugal while pursuing their business ventures. Eligibility under EU regulations places qualifying occupations as “liberal professions that provide intellectual services based on a specific professional qualification or skill.”

One of the main requirements is to submit a detailed business plan outlining your proposed venture. The Portuguese authorities will assess this plan to ensure the business is viable and beneficial to the country’s economy.

After the visa has been granted and you have lived in Portugal for at least five years with temporary residency, you can apply for permanent residency or even Portuguese citizenship, which would grant you the benefits of living, working, and traveling freely across the EU.

Portugal D2 Visa Application Requirements

As with any visa for Portugal or another EU country, you must meet several requirements to be granted access to the country for business purposes.

There are three separate routes that you can take when applying for a D2 Visa, each with differing requirements:

Independent professional activity

• You must have a contract or written service provider proposal for liberal professions.
• If applicable, a declaration by competent authorities certifying professional competence for the referred activity.

Entrepreneurs

• You must prove that investment operations have been concluded, such as investing in a particular and qualifying business.
• You must prove that your financial means are available in Portugal, including those obtained through a financial institution in Portugal.
• If applicable, prove your intention to invest in the Portuguese territory.

Startup Visa program

• With your application, you must include a declaration issued by the Agency for Competition and Innovation (IAPMEI) certifying the signing of an incubation contract with a certified incubator.

D2 Required Documents

Together with the proof required for your chosen route, there are additional documents that must accompany your application.

Business plan and finances

It is important to create a thorough and well-developed business plan that will be carefully assessed based on its social, economic, and cultural impacts. Your business plan should show how your company will thrive, contribute to the Portuguese economy, and support the economic growth of Portugal by paying corporate taxes.

In addition to your business’s financial statements, you must also provide proof of sufficient financial resources to support yourself and your dependents for a year, such as bank statements separate from your business earnings.

You are 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, and an extra 50 percent (€9,840.00) is needed for a spouse or any other family member over 18.

NIF and Portuguese bank account

To apply for a D2 Visa in Portugal, you must secure a Tax Identification Number (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.

Non-EU citizens must also appoint a tax representative in Portugal as part of the D2 Visa application process.

Travel insurance cover for at least six months

It is recommended that a minimum of six months of travel insurance coverage be provided, including the initial four-month Portugal D2 Visa period and the waiting period for registering as a resident with AIMA (Agency for Integration, Migration, and Asylum). After obtaining your temporary residence permit, you will be eligible for Portuguese state healthcare.

Although legal residents are entitled to Portugal’s public healthcare, many foreign nationals prefer to have health insurance. The cost of private health insurance varies between €30 and €150 per month, depending on the coverage and the individual’s age.

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.

Finding the perfect apartment when renting in Portugal can be daunting – especially if you’ve never been to Portugal before. Naturally, a great place to initially put down your roots is in Lisbon.

The capital city offers a wide range of rental properties in different sizes and price ranges, so you should be able to find a suitable property that fits your needs and budget. However, keep in mind that apartments in the city center tend to be more expensive than just outside the city boundaries.

But with some tenacity and a keen eye for a bargain, finding the perfect house for rent in Lisbon should be a breeze.

The market for buying property in Portugal has experienced significant steady growth and has become an attractive and profitable investment option in recent years. Factors such as a stable economy, affordable prices, and a high quality of life have contributed to its appeal among both domestic and foreign buyers.

How to Apply for a D2 Visa

Acquiring a Portugal D2 Visa typically takes two to three months if you already have a business plan or a company in Portugal. Once you have successfully applied, you can lodge an application for a Portuguese residency permit.

While the steps required can vary depending on where you apply, the general conditions for a successful application are:

• Obtain a Portuguese Taxpayer Identification Number (NIF)
• Open a personal and business banking 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 minimum of one year, even if the agreement includes a provision for early termination.
• Apply online via the eVisa Portal or VFS. This can be done through the Portuguese Consulate or Embassy in your home country.

The D2 application process occurs in two 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 D2 Visa will be granted, enabling you to travel to Portugal and enter the country.

The second phase happens in Portugal, where you apply for residency through AIMA. AIMA schedules an appointment for you, and you’ll be sent an appointment date with your visa.

If all available AIMA appointment slots exceed your visa’s validity, your legal status in Portugal remains unaffected past the four-month visa term as long as an appointment is scheduled.

D2 Visa application costs

There is a €90 government fee to apply for the D2 visa. You must also demonstrate your financial capability to operate the intended business.

Also, you need to provide proof of having at least €10,640 to sustain yourself in Portugal for a year, as well as evidence of rented or owned accommodation in the country. Other costs that you’ll incur include health insurance and legal services.

How to Apply for Permanent Residency After the D2 Visa

After living legally in Portugal for five years on a Portugal D2 Visa, you can apply for citizenship and permanent residency. To apply for a permanent residency permit through the Portuguese entrepreneur visa, you will need to meet several specific criteria.

• Residency: You must have lived in Portugal for at least five years.
• Financial stability: You must prove that you have stable and regular resources sufficient to support yourself.
• Accommodation: You must demonstrate that you have a place to live in Portugal.
• Clean criminal record: You must have a clean criminal record.
• Social Security: You must register with Portuguese Social Security and demonstrate regular contributions throughout your residence.
• 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.

If you meet the requirements and gather the necessary documents as proof, you must book an appointment with AIMA to submit your permanent residency application.

The same requirements must be met when applying for Portuguese citizenship through the Civil Registry. However, to become a Portuguese citizen, you must prove proficiency in the Portuguese language. This is only required for applicants from non-Portuguese-speaking countries.

Benefits of the D2 Visa

In addition to living in a beautiful country with amazing culinary treats, there are other benefits that come with having a D2 Visa.

Opportunities for entrepreneurs

The D2 Visa allows you to establish a business or work as an independent professional in Portugal, providing opportunities for your entrepreneurial endeavors. Major cities such as Lisbon and Porto offer a variety of affordable, modern business spaces. Additionally, long-term office rentals in Lisbon can be up to 80 percent cheaper than in startup locations in London, making Portugal an attractive option for startups.

Visa exemption across the Schengen Area

The D2 Visa allows unrestricted entry and movement within the Schengen Area, which includes 27 European nations, without requiring an additional visa. This privilege gives you the same travel freedoms as European Union citizens, making it easier to network and develop business relations across Europe and the Schengen Area.

Family reunification

The D2 Visa also allows for family reunification in Portugal, meaning that family members, such as spouses, children, parents, or dependent siblings, can reside with you in the country.

Route to permanent residency and citizenship

After living in Portugal legally for five years, you may qualify to obtain a permanent residence permit and Portuguese citizenship through the country’s residency program. It’s important to note that obtaining citizenship typically requires passing a basic test in the Portuguese language and culture.

Residential rights and service access

With Portuguese residency, you and your family members gain access to the public healthcare system. Your children can also register in the public education system, ensuring essential services for your family’s well-being.

Goldcrest: How We Can Help You 

Goldcrest is a buyer’s agent that is based in Lisbon. We provide expert, impartial advice on real estate investments and how to buy property in Portugal. From scouting out the perfect property through to property acquisition, we have you covered throughout the process.

If you are looking to purchase property in Portugal, don’t hesitate to get in touch. Our team of skilled experts is available to solve all your real estate doubts, helping you with the property search and offering insightful expertise and strategic advice.

Why choose Goldcrest?

• Local knowledge: With offices located across Portugal, our presence nationwide allows us to assist you personally across the country.
• Independent service: As an independent buying agent, we do not represent any development or project. Our service is entirely tailored toward each individual client, providing you with everything you need to secure the perfect property at the best possible price. As an impartial advisor on the market, we work solely on behalf of our client and provide a service tailored to your needs and requirements.
• Streamlined process: Our real estate agents speak English and Portuguese, and our service is completely focused on providing you with a hassle-free buying experience, saving you time.
• Experienced team: Our expert real estate team has a vast local knowledge of the Portuguese property market. We have cutting-edge technology and metasearch tools at your disposal to provide full market coverage, ensuring the best investment choices and negotiated prices.
• Network of partners: We have a close network of partners, including lawyers, property management services, builders, architects, designers, and landscape gardeners, again saving you time and hassle by providing you with trusted experts in their field of work.