28 de July, 2022
Want to set up a business in Portugal or plan to be self-employed in the country? Then you need to know about the D2 Visa, aimed at entrepreneurial immigrants! Through it you can obtain a Residence Permit to live and work legally in the country.
Portugal already stands out worldwide for its public policies to attract foreign investment and highly qualified immigrants to the country. In this article we explain how the D2 visa works, who can get it and what are the main requirements to succeed in your application.
In exchange for the possibility of legal residence, and of course all the direct and indirect benefits that the foreign citizen will enjoy with this, Portugal benefits from the attraction of people capable of generating wealth and creating employment, and consequently with the movement of its economy.
With this objective, Portugal created some types of Visas and Residence Permits specifically for the creation of companies by foreign citizens, among these the best known is the D2 Portugal Visa – Visa for Entrepreneurial Immigrants.
Do you meet the requirements to obtain it?
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The D2 Visa is a special visa created for citizens who intend to carry out an activity or investment in Portugal, with the creation of small and medium enterprises of economic, social, scientific, technological, or cultural relevance to the country.
This visa allows its holder, and respective family member, to enter Portuguese territory in order to apply for the subsequent Residence Authorization. This residence permit will initially be valid for 2 years, and can be renewed for periods of 2 more years, as long as the business and its respective activities continue in activity.
Also see: D7 visa, the visa for passive income holders.
Among the basic necessary requirements is the demonstration of the business viability, the seriousness of the investment, its economic, social, scientific, technological or cultural relevance to the country, as well as the background of its promoters, which must be compatible with the investment activity to be promoted.
Since this is a decision that depends on the interpretation by the judging Portuguese authority, naturally the more structured and credible the business, the more impactful and the more relevant it is, the greater the chances the applicant has of succeeding with his D2 Portugal Visa application.
In this sense, the development of a good Business Plan becomes essential not only for the proper planning and organization of the project, especially considering that the business will be put into practice in another country and context, but also to confer more credibility and facilitate the decision-making process of the visa application by the Portuguese Government.
Although there is no legal obligation to form a company before applying for a visa, the fact that the applicant already has his business formally established in Portugal is a favorable factor in the analysis of his D2 Portugal visa application (and depending on the Consulate a mandatory factor!).
And an important piece of information: in Portugal companies can be legally incorporated by foreign partners who are not resident in the country.
There is no minimum share capital requirement when applying for a D2 Visa. In Portugal companies can be established with a share capital of up to €1.
However, obviously serious companies must have a share capital consistent with their activities, which will also be observed when analyzing the D2 Portugal Visa application.
It is important to demonstrate how the entrepreneur will maintain himself in the country and how he will finance the business, in case there is an investment forecast (this includes the means that were obtained through a financing made in a Portuguese financial institution).
No. The law does not foresee a minimum number of jobs to be created, and the company can be formed by its partners only.s. However, creating jobs can increase the chances of success of your application.
In the case of the D2 visa application for self-employed professionals, it is essential to have an employment contract or a written proposal for a contract to provide services within the scope of a liberal profession. Additionally, it is recommended that you already have a Portuguese tax identification number and have issued invoices.
You also have to be qualified to be self-employed. Depending on the profession, you must have your diploma revalidated and be registered with the Order.
What about the Gold Visa? How does it work? Learn all about it by clicking here.
The procedure is composed of two steps: the first at the Portuguese Consulate or Embassy in the country where the applicant resides, and the second at the AIMA, in Portugal.
You must gather the necessary documentation for the D-2 Visa application, as well as fill out the forms, declarations and authorizations indicated for this purpose, and present them along with your application at the Consulate, Portuguese Embassy or VSF.
If your application is approved, your Passport will be stamped with the Visa, which will allow you to travel to Portugal and apply for the RA.
Once in Portugal, the applicant must gather complementary documentation and present it to the AIMA at his interview.
If the complementary documentation is complete, the AIMA will grant the application, and then a Residence Card will be prepared for the applicant.
The holder of a residence permit is entitled to bring to live in Portugal family members who lived with him/her in another country, who depend on him/her, or who cohabited with him/her, regardless of whether the family ties were prior or subsequent to the resident’s entry. Thus, they may live together with the holder of the residence permit in Portugal, for as long as the residence permit remains valid:
The application for family reunion is made in Portugal, at AIMA, and the applicant must prove his/her relationship with the holder of the residence permit, as well as that he/she has housing and means of subsistence.
If the application is accepted, the family member will also receive a Residence Card for the same duration as the resident.
There is no doubt that the D2 Portugal Visa is an excellent opportunity for those who wish to undertake in Portugal and, at the same time, enjoy all the security and quality of life that the country has to offer.
Although the procedure is relatively complex and requires some time, meeting all the prerequisites and steps with attention the applicant has good chances to get the desired visa and residence, along with your family, and then can enjoy all the benefits that this country offers today to its nationals and residents!
Are you interested in starting a business or working as a freelancer in the country? Request your D2 visa and guarantee a safe and smooth journey to Portugal. Atlantic Bridge has experienced professionals that can help you with that.
Author:
Atlantic Bridge
