D2 Visa for Entrepreneurs

Renowned for its strategic location, high quality of life, and favorable business environment, Portugal has emerged as a dynamic and thriving hub for entrepreneurs in the past few years.

Lisbon and Porto, particularly, have become magnets for innovation and investment. The Portuguese government actively fosters startup hype and attracts international talent and investment through various initiatives, tax incentives, and visa programs.

Portugal’s Entrepreneurial Scene

Portugal’s strategic location in Europe offers numerous advantages for entrepreneurs and freelancers. Being Europe’s westernmost point, Portugal gives entrepreneurs easy access to major markets and cities within the continent and has a well-developed transportation infrastructure, facilitating efficient travel and logistics. Additionally, as Portugal is part of the European Union, you’ll be able to freely move goods, services, and capital, meaning expanded opportunities to diversify your venture across the EU. 

Thanks to its pleasant climate, beautiful landscapes, and rich cultural heritage, Portugal offers an excellent quality of life. This, combined with a relatively low cost of living (when compared to other European countries), makes it an attractive destination for entrepreneurs and freelancers looking for the perfect balance between work and a rewarding lifestyle.

Last but not least, the Portuguese government is quite welcoming to entrepreneurs, having implemented several programs to encourage the creation of new businesses in the country. One notable initiative is the Startup Portugal program, which offers various funding opportunities, tax benefits, and support services to entrepreneurs coming to Portugal.

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Applying for D2 Visa: A Guide for U.S. citizens

As a U.S. entrepreneur wishing to start or invest in a business in Portugal, the D2 Visa, also called the Immigrant Entrepreneur Visa, is the best option. This visa is an excellent opportunity for those looking to benefit from all that Portugal has to offer.

Eligibility Criteria

To qualify for the D2 Visa, you must meet several requirements:

1. Submit a detailed business plan demonstrating your business’s viability and potential economic impact. 
   1. This plan must outline the business idea, market analysis, investment strategy, and financial projections.
2. Show evidence of sufficient financial resources to support yourself and any dependents during your stay in Portugal – pensions, rental income, investments, or savings can be used.
   1. The minimum income requirement is typically the Portuguese minimum wage, currently around €760 per month for the main applicant. Additional amounts are required for dependents.
   2. You must include proof of funds for both personal living expenses and the initial investment in the business.
3. Provide evidence of relevant professional qualifications or experience to support your business venture. 
   1. This may include educational certificates, professional licenses, or proof of prior business experience.
4. Incorporate your company (if already existing) and obtaining a Portuguese tax number (NIF).
5. Provide proof of address in Portugal, such as a rental agreement or property ownership – short-term rentals or hotel bookings may not be accepted as proof.
6. Have valid health insurance coverage in Portugal that covers your stay in the country.
7. Provide a certificate of clean criminal record from your home country and any country where you have resided for more than one year.

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Visa Application Process

There are several steps you need to follow for applying for a D2 Visa in Portugal:

1. Gather the Required Documents
   • Valid passport (with at least two blank pages and valid for at least three months beyond the intended stay).
   • Completed visa application form.
   • Two recent passport-sized photographs.
   • Proof of passive income (e.g., bank statements, pension statements).
   • Proof of accommodation in Portugal.
   • Health insurance coverage.
   • Clean criminal record certificate.
   • Declaration of intention to reside in Portugal.
2. Submit Your Application
   • Submit your application at the Portuguese consulate or embassy in your jurisdiction. Check the specific consulate’s website for detailed instructions and any additional requirements.
   • Pay the visa application fee—The application fee for the D2 Visa for U.S. citizens is around €90, which is relatively low compared to other visa programs around Europe. Bear in mind that, once in Portugal, there is an additional fee for obtaining the residence permit, which is approximately €160​ m per person.
3. Attend a Screening Interview
   • During your application process, you may need to attend an interview at the consulate. Be prepared to share your reasons for moving to Portugal, your financial situation, and your accommodation plans.
4. Register Your Business in Portugal (after Visa approval)
   • Register your business (if you haven’t already), open a Portuguese bank account, and transfer the necessary funds for your business.
5. Apply for a Residence Permit in Portugal(after Visa approval)
   • Upon arrival in Portugal, you must apply for a residence permit at the Serviço de Estrangeiros e Fronteiras (SEF). For this, you must schedule an appointment with SEF and bring the necessary documents, including your visa, proof of income, accommodation, and health insurance. 
     1. Remember that Portugal is a very attractive country, and the scheduling might be difficult or take some time, so do this in advance.

Benefits of the D2 Visa in Portugal

As a D2 Visa holder, you have access to several benefits:

• The right to live and work in Portugal.
• Bringing your spouse and dependent children with you under the family reunification scheme.
• Access to visa-free travel within the Schengen Area for short stays (up to 90 days within 180 days).
• Portuguese citizenship after five years of continuous residency with a D2 visa.

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Frequent Questions

1. What is the D2 Visa?

The D2 Visa, also called the Immigrant Entrepreneur Visa, allows entrepreneurs to start or invest in a business in Portugal.

2. Who is eligible for the D2 Visa?

Entrepreneurs with a viable business plan, sufficient financial resources, relevant professional qualifications, and a clean criminal record are eligible.

3. What must be included in the business plan for the D2 Visa application?

The business plan should include the business idea, market analysis, investment strategy, and financial projections.

4. What are the financial requirements for the D2 Visa?

Applicants must show evidence of financial resources to support themselves and any dependents, meeting at least the Portuguese minimum wage of €760 per month.

5. Do I need to prove my professional qualifications for the D2 Visa?

Yes, applicants must provide evidence of relevant professional qualifications or business experience.

6. Is a Portuguese tax number (NIF) required for the D2 Visa?

Yes, you need to obtain a Portuguese tax number (NIF) as part of the application process.

7. Do I need proof of address in Portugal for the D2 Visa?

Yes, you must provide proof of address in Portugal, such as a rental agreement or property ownership.

8. Is health insurance required for the D2 Visa?

Yes, you must have valid health insurance coverage in Portugal.

9. Do I need a clean criminal record for the D2 Visa?

Yes, you must provide a certificate of a clean criminal record from your home country and any country where you have resided for more than one year.

10. Where do I submit my D2 Visa application?

You submit your application at the Portuguese consulate or embassy in your jurisdiction.

11. What is the application fee for the D2 Visa?

The application fee for U.S. citizens is around €90, with an additional fee of approximately €160 for the residence permit.

12. Will I need to attend an interview for the D2 Visa?

Yes, you may need to attend a screening interview at the consulate as part of the application process.

13. What happens after my D2 Visa is approved?

After approval, you must register your business, open a Portuguese bank account, and transfer the necessary funds for your business.

14. How do I apply for a residence permit after arriving in Portugal?

You must apply for a residence permit at the Serviço de Estrangeiros e Fronteiras (SEF) with the necessary documents.

15. What are the benefits of holding a D2 Visa?

Benefits include the right to live and work in Portugal, family reunification, visa-free travel within the Schengen Area, and eligibility for Portuguese citizenship after five years.

16. Can my family join me on a D2 Visa?

Yes, you can bring your spouse and dependent children under the family reunification scheme.

17. How long can I stay in the Schengen Area with a D2 Visa?

You can stay visa-free for up to 90 days within a 180-day period.

18. Can I apply for Portuguese citizenship with a D2 Visa?

Yes, you can apply for citizenship after five years of continuous residency with a D2 Visa.

19. Is the cost of living in Portugal favorable for entrepreneurs?

Yes, Portugal offers a relatively low cost of living compared to other European countries, which is attractive for entrepreneurs.

20. Are there government programs to support entrepreneurs in Portugal?

Yes, programs like Startup Portugal offer funding opportunities, tax benefits, and support services for entrepreneurs.

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