Portugal
Portugal offers attractive tax regimes and residence permits to people who wish to invest or simply to relocate permanently. Portugal has attractive tax policies for these who plan to live and work indefinitely, as well as attractive residence and employment permits for investors and others. Portugal ranked third among all countries worldwide with an economical health system, according to the World Health Organization, which had Portugal at number twelve with the world’s best accessibility. On average, the cost of living in Portugal is considerably less than in various other countries in Europe.
What is the D7 Visa?
- Portuguese Residency can be obtained under the Portugal D7 Visa program with a lower processing duration and quicker approval rate, provided you’re in fact intending to reside in Portugal.
- The application starts in the consulate of Portugal where the candidate has a primary address.
Applicants are entitled to:
Live in Portugal, reunite their family, work, and access public schools and colleges. Access the Portuguese Social Security System, which includes the National Health System. Use the judiciary system and access the Portuguese laws.
Benefit from a special Tax Regime – the Non-Habitual Resident (NHR) regime, in which specific sources of income are exempt of taxation.
Who can apply?
Non-EU members of the European Economic Area in Switzerland who desire to move to Portugal and are able to perform a professional activity remotely and anywhere, or are retired and are entitled to a pension, or are living from personal revenue, such as bank account savings, rents, dividends, interests.
Requirements:
- Obtain a Portuguese Tax Number (NIF).
- Open a Portuguese bank account.
- Submit an on-line visa application and schedule an appointment at the Portuguese Consulate of the current country of residence.
- Have a Travel and Health Insurance, or a declaration stating that such insurance will be contracted in Portugal up to 90 days after arrival.
- Have a Clear Criminal Record.
- Sign a declaration specifying:
- The purpose of the Visa request
- The intended length of stay in Portugal.
- The address in Portugal, including, if applicable, name(s), address(es), and phone number(s) of any family or friends residing in Portugal.
- Prove to have enough income to reside in Portugal for at least 24 months. which can be done through:
- Pension applicants: a document proving retirement status, income received, or other income obtained in Portugal.
- Passive income applicants: an annual tax return, indicate owned real estate and financial assets, and show availability of such resources in Portugal.
- Digital Nomads: Salary receipts, bank account statements, annual tax return
- Prove to have a domicile in Portugal by:
- Acquiring, renting, or borrowing a property.
- Invitation letter written from a citizen with a legal residence in Portugal, providing accommodation for the applicant.
Validity and possible opportunities in the future:
- The Passive Income Visa is intended for fiscal durations of 2 years, renewed for periods of 3 years. The visa is valid for a minimum amount of 6 months a year and 2 months during each period of its validity (provided that the holder does not travel more than 6 consecutive months anywhere outside the country). However, longer absences are allowed if due to professional, cultural, or personal reasons.
After a minimum period of 5 years, the applicant may apply for a Permanent Residence Permit, which requires basic knowledge of the Portuguese language, a Portuguese address, and a clean criminal record or apply for Portuguese citizenship, with the same requirements as the former with an additional demonstration of existing connections and ties within the Portuguese Community.
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