Portugal’s D7 Visa | 2023
The D7 visa, also known as the Retirement Visa or Passive Income Visa, is a long-term residency visa that allows non-EU citizens to live in Portugal by demonstrating sufficient financial means to do so. This visa is suitable for retirees, digital nomads, remote workers, and anyone earning passive income.
Unlike the Golden Visa, which requires an initial investment, the D7 visa does not require you to make any investments. Instead, you only need to demonstrate that you have enough financial means to support yourself while living in Portugal.
Who Qualifies for the D7 Visa?
The D7 visa is for non-EU citizens who wish to reside in Portugal and have sufficient financial means to do so. These financial means can be presented in the form of passive income, such as rental income, financial investments, pensions, or dividends.
What Are the Requirements for the D7 Visa?
To obtain a D7 visa, you will need to meet the following requirements:
Application for a national visa
Passport that is valid for at least 6 months
Clean criminal background check
NIF number, your tax ID number in Portugal
Proof of private travel insurance with medical benefits and COVID coverage for at least 120 days (duration of the D7 visa)
A funded Portuguese bank account. It is recommended to fund it with more than the minimum amount required to ensure a stronger application.
Proof of financial means to reside in Portugal:
1st adult (applicant): 100% of the current minimum wage (760€/month) = 9120€/year
2nd or more adult(s): 50% of the current minimum wage (380€/month) = €4560/year
Children or people under 18 that are dependents of the adults applying: 30% of the current minimum wage (228€/month) = 2736€/year
Proof of residence in Portugal for at least one year. This can be a rental contract or deed.
Personal statement explaining your reasons for wanting to move to Portugal.
Getting a Residence Address
If your intention is to rent an apartment or a home, you will need to have legal proof of accommodation in Portugal before applying for the D7 visa. This means having a deed or rental agreement that is at least one year and registered with finanças. Portuguese consulates and embassies no longer accept AirBnB reservations as proof of residence.
How Long Do I Need to Stay in Portugal for the D7?
Unlike the Golden Visa, where you only need to spend 7 days per year in the country for the first year or 14 days combined in two years, the D7 requires you to move and live in Portugal as you will need to spend at least 183 days in one year or 16 months every 2 years in the country. This means you would become a tax resident in Portugal, but the good news is that you can combine your D7 visa application with the NHR tax regime that offers you a very competitive taxation.
What are the benefits of the D7 visa?
Long-term residency: The D7 visa grants non-EU citizens the right to live in Portugal for an extended period of time. The visa can be renewed for two additional periods of two years each, for a total of five years. After five years, visa holders can apply for permanent residency or citizenship.
No initial investment: Unlike the Golden Visa program, which requires a significant investment in Portuguese real estate or business, the D7 visa does not require an initial investment.
Access to the Schengen Area: The D7 visa allows for free travel within the Schengen Area, which includes most of the European Union, without the need for a visa.
Family reunification: Once granted the D7 visa, you can apply for family members to join you in Portugal. This includes partners, parents, children under 18 (or over 18 if they are studying), and minor siblings.
Tax incentives: As mentioned earlier, Portugal has an attractive tax regime for non-habitual residents (NHRs). NHRs can benefit from tax exemptions or reduced rates for foreign-sourced income, as well as other tax advantages.
High quality of life: Portugal is known for its beautiful landscapes, mild climate, friendly people, and high quality of life. With the D7 visa, you can enjoy all that Portugal has to offer on a long-term basis.
How can we help you with the D7 visa?
At MOL Portugal, we specialize in the Portuguese property market and can assist you with finding and purchasing a property or securing a rental contract for your D7 visa application. We can also guide you through the visa application process and provide support throughout your stay in Portugal. If you're interested in working with us, please don't hesitate to send us an email or schedule a call with our team.
In conclusion, the D7 visa is an excellent option for non-EU citizens looking to live in Portugal on a long-term basis. Whether you're a retiree or someone with passive income, the D7 visa offers many benefits, including access to the Schengen Area, family reunification, tax incentives, and a high quality of life. With our expertise and support, we can make your move to Portugal a smooth and successful one.
Até já,
Mia and Rafael
**Disclaimer: Please regard what we shared as a general guide. For professional advice or specific details please consult with a lawyer or the SEF authority.