As part of our commitment to providing comprehensive information for international relocation, we would like to share insights into the D7 and D8 Visas, which are relevant for those considering residency in Portugal.
D7 VISA
The D7 visa is designed for individuals with a stable income who wish to reside in Portugal for a longer duration. Here are key points regarding the D7 Visa:
- Purpose: the D7 visa is suitable for retirees, individuals with investment income, or those with stable passive income sources.
- Financial Requirement: applicants are required to provide evidence of a net regular passive income of at least €12,000.00 per year. Additional income percentages are considered for spouses (50%) and dependent children (30%).
For your reference, examples of passive income:
1. Dividends and Investments:
- Dividends from stocks and shares in publicly traded companies.
- Returns from investment portfolios, including bonds, mutual funds, and exchange-traded funds (ETFs).
- Profits from real estate investment trusts (REITs).
2. Rental Income:
- Income generated from renting out residential properties.
- Rental income from commercial real estate, such as office spaces or retail units.
- Profits from vacation rentals or Airbnb properties.
3. Pensions and Annuities:
- Regular pension payments from employer-sponsored pension plans.
- Income from government or state pensions.
- Annuity payments from financial products purchased during one's working years.
4. Interest Income:
- Interest earned from savings accounts or certificates of deposit (CDs).
- Returns from lending money through peer-to-peer lending platforms.
- Bond interest payments from government or corporate bonds.
5. Royalties and Licensing Fees:
- Royalties from intellectual property, such as books, music, or patents.
- Licensing fees for the use of trademarks or copyrighted material.
- Income from franchise agreements.
6. Passive Business Income:
- Profits from a business in which the individual has a passive ownership stake.
- Income from investments in start-ups or small businesses.
- Returns from a business partnership without active involvement.
7. Digital Products and Online Businesses:
- Passive income from the sale of e-books, online courses, or digital products.
- Affiliate marketing commissions from promoting products or services.
- Revenue from automated online businesses, such as dropshipping or affiliate marketing.
8. Real Estate Crowdfunding:
- Returns from participating in real estate crowdfunding platforms.
- Profits from crowdfunding investments in residential or commercial properties.
- Distributions from real estate investment groups.
9. Retirement Savings Withdrawal:
- Withdrawals from retirement savings accounts.
- Income generated from annuitized retirement accounts.
- Distributions from pension plans or retirement savings plans.
10. Farming and Agriculture:
- Income from owning agricultural land and leasing it to farmers.
- Returns from investments in agricultural ventures.
- Profits from agribusiness without active involvement.
11. Investments in Cryptocurrencies:
- Holding Bitcoin.
- Ethereum.
- Other cryptocurrencies and earning returns through price appreciation or dividends.
12. Staking and DeFi (Decentralized Finance) Income:
- Staking Ethereum to earn staking rewards or participating in lending protocols to earn interest.
13. Mining Income:
- Operating mining rigs for Bitcoin.
- Oher proof-of-work cryptocurrencies and earning mining rewards.
D8 VISA
The D8 visa is designed for individuals involved in either subordinate work or independent professional activities, specifically those working remotely from Portugal. Key aspects of the D8 visa include:
- Purpose: tailored for individuals who are either engaged in subordinate employment or pursuing independent professional activities, particularly those working remotely while based in Portugal.
- Subordinate Work: requires submission of a work contract or a declaration from the employer confirming the labor relation.
- Independent Professional Activity: requires documentation such as a society contract, contract of services provision, or proof of services provided to entities. If work can be performed remotely, proof must be provided (e.g., work contract or employer declaration).
Regarding the preparation for your upcoming appointment at the Portuguese Consulate or VFS of the jurisdiction of the applicant for the D7 or D8 Visa application process, it is importante to carefully review the following list of required documents. The thorough preparation and timely submission of these documents will expedite the visa application process.
General Requirements (Applicable to both D7 and D8 Visas):
- Passport: valid for at least 6 months beyond the visa expiry date (which will be valid for 4 months).
- Two recent passport-size color photos.
- Declaration of Intent for Residency: a standard declaration introducing yourself and explaining the reasons for intending to reside in Portugal. Ensure you mention sufficient funds to support your life, including accommodation, a Portuguese bank account, and valid health insurance.
- Health Insurance: a health insurance policy valid in Portugal (e.g., "Medis" or "Medicare").
- Travel Insurance: valid for a minimum of 4 months from the intended arrival in Portugal, providing medical coverage, including emergencies and repatriation.
- Criminal Record Certificate: issued no more than 90 days before submission, duly legalized.
- Accommodation Proof: property title deed or tenancy agreement as evidence of having accommodation in Portugal.
- Authorization for Criminal Record Check in Portugal.
- Financial Proof: documentary evidence of sufficient funds available for subsistence (e.g., bank statements from both abroad and in Portugal.)
- Residency Form.
It is crucial to note that opening a bank account in Portugal is a prerequisite for applying for the D7 or D8 Visa. Additionally, obtaining a Portuguese Tax Identification Number (NIF) is mandatory for these purposes.
Specific Requirements for D7 Visa/Residency:Income Documentation:
- Documentary evidence of a net regular passive income of at least €12,000.00 per year. Include 50% of this amount for the spouse and 30% for each dependent child (e.g., annual tax return copies for the last 3 years).
Specific Requirements for D8 Visa/Residency:Subordinate Work:
- Work contract.
- Declaration by the employer confirming the labor connection.
Independent Professional Activity:
- Society contract.
- Contract of services provision.
- Document attesting to services provided to one or more entities.
- Proof that the work can be performed remotely, if applicable (work contract, declaration from the employer, etc.).
- Proof of an average monthly income of the last three months equivalent to the Portuguese Minimum Wage multiplied by 4 (approximately €3,040).
Regarding D7 and D8 Visas, we have succinctly outlined a step-by-step guide for all procedures:
Step 1 - Acquire the NIF Number: obtain the Portuguese Tax Identification Number (NIF) as the initial step.
Step 2 - Open a PT Bank Account:
- Remote account opening takes approximately 1-2 months.
- In-person account opening directly in Portugal requires approximately 2 working days for full activation.
Step 3 - Secure Long-Term Accommodation: arrange accommodation in accordance with the terms specified in this article.
Step 4 - Schedule Consulate/VFS Appointment:
- Obtain an appointment at the Portuguese Consulate/VFS in the applicant's jurisdiction (appointment scheduling may take 1-2 months due to limited slots).
- After the appointment, Portuguese Authorities have 60 days to issue the visa.
- It is advisable to schedule the appointment after having a fully activated PT bank account.
- On the appointment day, provide evidence of completing the first three steps, ideally including bank statements from the PT bank with available funds.
Step 5 - Apply for Residency in Portugal: once the visa is granted, it is valid for 120 days. During this period, applicants must come to Portugal to apply for residency by attending a new appointment at the Immigration Office (AIMA).
Step 6 - Post AIMA Appointment:
- After scheduling an appointment with AIMA, it takes approximately 2 months to receive the residence permit.
- The residence permit is initially valid for 2 years and can be renewed for an additional 3 years in subsequent cycles of 3 years.
- After completing 5 years, it becomes possible to apply for permanent residency or Portuguese citizenship.
We trust that this article has been adequate in addressing inquiries pertaining to the requirements, procedures, and documentation related to the D7 and D8 Visas.
