Curious about investing in Portugal? Today, we will be talking about the D2 Visa for Portugal (for entrepreneurs). We will give our best to explain what is it, who is it for, some advantages, some of the necessary documents and processes and more. Interested? Keep on reading.
D2 Visa for Portugal – What is it?
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. This is one of the many types of Portugal Visa you may apply for in order to get your residence permit, live in Portugal and benefit from all the advantages that may bring you.
What do you mean by investing activity?
You might be thinking that you need to open a giant company and employ dozens of people, but that’s not the case for this type of Visa. It is true that the Portuguese government has the ability to issue the Golden Visa Portugal for those who wish to invest a lot of money.
In this case, however, all you need to do is to show to the Portuguese government that you have intentions of being an entrepreneur and hosting your activity in Portugal. We are talking about a small or medium company with some relevance in a social, economic, technological, scientific or cultural area.
In case you already have your own company in Portugal, you can also apply for Portugal’s D2 Visa.
Essential requirements for the D2 Visa
There are some things you need to be able to prove in order to convince the Portuguese government that you really deserve the chance to become part of the Portuguese system.
The country needs to see value in your activity and that you really have the means to open your activity.
In short, some of your priorities should focus on:
- 1. Proof of business viability
- 2. A solid business plan
- 3. The social capital
- 4. Reasons you choose Portugal
1. Proof of business viability
As said previously, it is really important to show the Portuguese government that your business is viable. What we mean by that is that you need to prove that your business can thrive in the field you are aiming for.
Try being different
Whether you are going to embrace a more social and cultural path, or something more technological and scientific, it would really help to be able to show that you won’t just open yet another company that will be doing exactly the same as hundred others.
Try being a bit different and think outside the box in order to guarantee your success and be able to convince the government that you should really get the D2 Visa.
2. A solid business plan
This is one of the most important things you have to nail in order to maximize your chances of getting your Visa.
Create the best business plan you can and make sure you have every step covered and show your A, B and C plans.
The more determined and reliable you are, the best are your odds of being accepted as an Immigrant Entrepreneur.
3. The Social Capital
As you probably know, the Social Capital of a company is a solid indicator of the amount of money the founders of a company invest in the said company.
Knowing that at the beginning of any company there are no profits entering right away, the social capital is important in order to give an idea of how big and solid will the company be.
Concerning the D2 Visa for Portugal, there are no minimum requirements for the Social Capital.
That doesn’t mean that you may ignore this step. The more you allocate to your company, the better your chances of receiving the Visa.
4. Reasons you choose Portugal
An interesting point of focus is your choice of country.
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.
You must be able to justify your choice.
It might help to focus on the needs your company will satisfy in Portugal, as well as talking about the cost of living, climate and way of living.
The most difficult part will be choosing the reasons you will be presenting, trust us.
It can also help…
One thing you could also consider is opening your company before applying for the Visa.
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.
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.
Step by step to apply for the D2 visa for Portugal
Applying for the D2 visa Portugal is hard, but it’s not impossible.
There are several steps you’ll need to complete until you finally get your visa. Below we will explain each step and the requirements you must keep in mind.
Where can you apply for the D2 Visa for Portugal?
In order for you to be able to live in Portugal legally, you have to fulfill two processes:
- Applying for the D2 Visa for Portugal;
- Getting your residence permit in Portugal.
Don’t worry, we will explain both points.
1. Applying for the D2 Visa for Portugal
Once you have all the requirements for the D2 Visa fulfilled, i.e. you know perfectly where and what company you will open, what’s your business plan, why Portugal, it is you who has to apply for your D2 Visa for Portugal.
This process takes place in your country of residence. This means you have to find the Portuguese embassy or consulate in your country, make an appointment and then make your case.
You can find out more about the embassy or consulate in your country in Portuguese foreign affairs website:
Documents you need to present
If you are wondering about the documents you need, we got you covered.
Directly from the External Affairs Ministry website, this is the general documentation you need in order to apply for the D2 Visa for Portugal:
- Official form;
- Passport or additional travel document valid for 3 months after the duration of the stay;
- Two passport photos, up-to-date and with enough quality to identify the applicant;
- Valid travel insurance, allowing medical coverage, including medical emergencies and repatriation;
- Proof of being in a regular situation when from a different nationality than that of the country where the visa is being applied for;
- Request for criminal record inquiry by the Immigration and Border Services (SEF);
- Criminal record certificate from the country of origin or the country where the applicant is residing for over a year (children under the age of 16 are exempt from producing a criminal record);
- Proof of means of subsistence as stipulated by law;
- Proof of subsistence means can be made through a statement of responsibility, signed by a Portuguese national or by a foreign national legally resident in Portugal.
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2. Getting your residence permit
This process takes place after you get to Portugal. Your D2 Visa is available for 4 months. This means that you have 4 months to move to Portugal and get an appointment at the Immigration and Border Services (SEF) to get a valid Portuguese residency.
It can take a while.
But don’t stress if you get your appointment after 6 months, for example. The important thing is that you carry with you that proof of your appointment. That’s enough in order for you to be considered a legal citizen in Portugal
Take into consideration that during this period, can’t leave the country at the risk of being deported from EU area.
Once you get your appointment, make sure you bring all information and documents related to your application for residency.
If you have some doubts about the process of getting a Portuguese visa, it might be useful to consult the non-profit institution that helps foreigners in Portugal legalize themselves – CNAIM (Oporto), CNAIM (Lisboa).
Frequent questions about Portugal D2 visa (entrepreneur visa)
Below you’ll find the most common questions everyone has about Portugal D2 Visa.
And the answers, of course.
Is the D2 Visa extensible to your family?
Shortly said, yes. It depends on a number of things but your spouse/partner, children under your charge, dependent parents, and minor siblings are some of those who also get D2 Visa for Portugal after you.
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.
See also an article we wrote: 5 Incredible Business Events in Portugal.
Is it good or bad?
Well, that really depends. But in our point of view, the D2 Visa is one of the best ways to get yourself in Portugal and pursue your dream.
If you’re just looking for a way to live in Europe, it might not be the most efficient way.
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.
The process might take a while since it’s necessary to validate your business idea/concept.
Advantages of having your business in Portugal
- Access to an ecosystem of startups and competitive companies;
- Government support and incentives;
- Highly qualified employees (for an affordable cost);
- Access to the European Market.
It might also be interesting to know the kind of jobs available for foreigners in Portugal.
Disadvantages of having your business in Portugal
Take into consideration also some of the disadvantages of establishing your business in Portugal:
- High Corporate Tax Rate;
- Language barriers;
- Long waiting time until you get your residency (and become 100% legal)
And now you know what you need to know about Portugal Visa D2, but wait!
Below you’ll find some information about another type of Entrepreneur Visa for Portugal, the “Portugal Start-up Visa”
What about the Start-up Visa?
Although they are very similar, both for entrepreneurs, the D2 and Start-up Visa are a bit different.
The main difference is that in order for you to get a Start-up Visa is that you have to have your project accepted by the Agency for Competition and Innovation (IAPMEI).
Start-up Visa has a different target and is more complicated
In short, the D2 Visa is less complicated, but it usually requires a more solid business idea and investment.
The start-up visa is targeted at those who have a business idea, but the business is still at a very early stage. In fact, by applying to the Portugal start-up visa, you may also apply to be incubated in one of the accredited incubators.
So, there you have it. If you are an entrepreneur, thinking about living in Portugal and growing your idea by building a business, the D2 Visa may be your way in.
Think about it!
We wish you the best of luck!
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