With the upcoming termination of some of the most popular parts of the Golden Visa Program, namely in real estate investment, it becomes more pressing looking at other alternatives to that Program.
The main advantage and a key reason for the success of the Portugal Golden Visa Program is the relatively pleasant requirement of duration stay in Portugal. For every two years of residency, you only need to stay 14 days consecutive or non-consecutive in Portugal.
Also, compared with other countries, the path from resident to citizen is also quite competitive. You only need to have a resident card for 5 years to apply for citizenship.
The alternative visas, namely D2 (entrepreneur), D7 (passive income) and D8 (digital nomad) also require only five years to apply to become a Portugal´s citizen and the timeframe for obtaining the card will be probably shorter than with the Golden Visa.
Also, and contrary to the Golden Visa, D7 and D8 also don´t require any major investment in Portugal. The D2 for entrepreneurs willing to invest in Portugal, might require or not a material investment, depending on the business plan linked with the investment.
However, those visas have a stay requirement in Portugal much more stringent than the Golden Visa. They will require that for each residence permit (the initial will be 2 years and the second will be for 3 years) you cannot be away from Portugal more than 6 consecutive months or for more than 8 non-consecutive months.
What are, in a nutshell, the main differences between the alternative visas?
The Visa D2 objective is attracting entrepreneurs who want to invest in Portugal through the creation of companies operating in the country.
The main requirement of the D2 application is to present a credible business plan that could convince the Portuguese authorities of the merit of the project.
The D7 Visa (or Passive Income Visa) is a specific type of visa aimed to foreign citizens who intend to live in Portugal and have a stable passive income.
The passive income could be, for instance, from rental properties, pensions, remote job, intellectual property, or own job.
The minimum passive income varies according to the number of family members of the applicant´s household:
- – Main applicant: minimum salary in Portugal.
- – Other household adults: 50% of the main applicant.
- – Underage and dependent children over the age of 18: 30% of the main applicant.
The Digital Nomad Residence Visa (D8 Visa) is a specific type of visa aimed to foreign citizens who intend to live in Portugal.
The applicant must be employed by a company outside of Portugal or self-employed.
The main applicant needs to make at least 3, 040 Euros/month, four times the minimum wage in Portugal.
To consider other adults and children dependent on the main applicant, the income requirement is 50% of 4 times minimum salary for adults and 30% for children.
What are the similar requirements for the different visas?
First, they all require to obtain in the Portuguese consulate of the country where the applicant lives, a 2-entrance visa for 120 days followed by a residence permit to be obtained in Portugal.
All the residence permits will be initially for 2 years and later for 3 years.
Also, all the visa options will require you priorly to obtain a tax ID number and a Portuguese bank account.
The requirement of stay in Portugal is also similar. The holder of a resident permit cannot leave the country for more than 6 consecutive months or 8 non-consecutive months during the validity of each residence permit.
Finally, all visas have the following benefits:
- 1. Access to the Portuguese National Health.
- 2. Access to the Portuguese National Education.
- 3. Exercise of any work activity as an independent professional.
- 4. Access to the Non-Habitual Tax Residence scheme with very favorable tax benefits.
- 5. Family reunification, allowing spouse, dependents, and parents to live in Portugal.
- 6. Apply for permanent residency or citizenship after 5 years of residency.
- 7. Visa-free entry in the Schengen countries.
The Blue Portugal has a unique insight in this area, because our lawyers have a long and successful experience in the immigration area, having handled thousands visa and resident permit cases.
Don´t hesitate to talk with us on these visa alternatives. You won´t regret it!