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D2: A Portuguese Visa for Individual Entrepreneurs

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If you’re on the lookout for a business visa in a European state without hefty investment demands, the D2 visa offered by Portuguese authorities seems to be a promising alternative. Its appeal lies in its accessibility, allowing even sole proprietors with modest businesses to be eligible. This flexibility has made it particularly popular among digital nomads, freelancers, and similar specialists. Moreover, the D2 may serve as a springboard towards procuring an EU passport in due course, as it grants eligibility for a stay permit for the applicant along with his/her family. Take the chance to gather comprehensive information about sole proprietorship in Portugal and seize an opportunity to embark on this path towards residence and probably even citizenship.

D2 Visa: Basics

Tailored for entrepreneurial people in Portugal, including independent entrepreneurs, the D2 Visa offers a stay permit that is initially valid for two years, giving you an opportunity to extend it for three years more. Subsequently, holders acquire the right to submit an application and become permanent residents of the state. 

Here are the categories that can apply for the D2 Visa:

  • Founders establishing a subsidiary of an overseas company in Madeira/Portugal.
  • Individual entrepreneurs initiating commercial firms.
  • Foreign investors that become owners of ready-to-use companies in Portugal.
  • Business people that launch enterprises in Portugal/Madeira.
  • Dependent members of the main applicant’s family, husband/wife, and relatives subject to the family reunification program regulations. 

Although Portugal proposes other business visas, for instance, the D7 Visa and the Golden Visa, the D2 stands out due to its modest financial prerequisites. Keep in mind, though, that a prospective residence card holder is required to possess (and prove the possession of) enough money for basic subsistence and business development for at least one year. 

Initially, successful candidates acquire a provisional D2 Visa effective during four months. Over this period, the applicants must cross the Portuguese border, compile a dossier of mandatory documents, and file an application for a stay permit. Notably, this stage is exempt for individuals possessing an effective Schengen visa. 

Residence Card: Requirements

Prior to securing a residence card, a few essential steps must be accomplished:

  • Housing Arrangements: Make sure you can prove to the authorities that you have accommodation in the country that can be procured through purchase or rental.
  • Business Setup: Form your business entity, whether beginning from scratch, setting up a branch of an overseas company, or buying a ready-made business in the country.
  • Income Confirmation: Check whether your company generates profit, giving evidence of its operational feasibility.
  • Financial Sufficiency: Show sufficient financial assets to get by and support your dependents included in the stay permit application.
  • Application Submission: Carefully collect and file your application with all requisite papers, adhering to the specified guidelines and policies.

Residence Card in Portugal: Why Strive to Become its Holder

Review the benefits of the D2 Visa listed below that are able to influence your decision-making process:

  • Entry to European Market: As a D2 Visa holder, you gain entry to the EU market for products and services, along with access to fee-based and free education and the municipal healthcare system.
  • Non-Habitual Resident (NHR) Status: Have you paid taxes to Portugal in the past five years? Are you a citizen of a European Union state or Switzerland? If the answer to both statements is negative, don’t miss a chance to make use of the NHR program. This specific fiscal regime for foreigners has a 10-year validity term, and it encompasses taxes paid on retirement benefits, lease income, profits obtained on a regular basis, and so on. 
  • Family Inclusion: D2 Visa holders have the right to extend stay permits to their entire family, along with spouses, kids, parents, and even financially dependent siblings, provided they are able to demonstrate dependency on the main candidate. 
  • Becoming a Citizen: If you have successfully acquired your D2 Visa and lived in Portugal for 5 years, you can obtain a local passport. 
  • Europe is Open to You: Becoming a residence card holder in Portugal opens the way to numerous advantages associated with residing in a respected country. 
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D2 for Business Proprietors and Individual Entrepreneurs: Package of Papers

You will find below an approximate list of mandatory documents for D2 Visa categorized into business/personal documents. Each document must be in Portuguese/English, with notarial certification available. Additionally, they should be apostilled (legalized). 

Personal Papers:

  • Confirmation of a bank account in Portugal.
  • Certificate of registration with the Portuguese Social Insurance Fund.
  • Taxpayer’s identification number (NIF) procured in advance.
  • 2 passport-sized photos (color).
  • Scanned copy of your travel passport.
  • Valid medical policy. 
  • Proof of accommodation, for instance, an invitation letter from a local resident, a lease agreement entered into for no more than 1 year, or proof of being a property owner.
  • For non-EU citizens, a local tax representative appointed before applying for the visa. 
  • No-conviction certificate provided by authorities in your country of residence at least half a year six months prior to applying for the residence card. This document must be available from each country where you have resided for at least a year.
  • Evidence of personal financial means:
    • Sole proprietor/company owner: €9,120
    • Spouse: Half of the amount (€4,560)
    • Dependent (child or other): 30% of the amount (€2,376)

These papers play a central role in the application process and stay permit acquisition. Ensure they are accurate and duly certified to expedite the processes.

Below is a breakdown of the principal business documents for the visa:

  • Expected number of workers and workplaces, if any.
  • Business incorporation documents, such as accounting records, agreements, and a bank statement.
  • Information on authorized capital (just €500 for small-sized businesses).
  • Proof of capital to sponsor business operations for 1 year.
  • Investment declaration outlining your current and future investments in the business.
  • Comprehensive business plan, regardless of whether it’s for a company or individual entrepreneur, along with complete reports. 

These papers are crucial for showing the viability and sustainability of your business project in Portugal. Check whether they are comprehensive, accurate, and well-prepared to strengthen your application.

If you’re interested in becoming a D2 Visa holder, you can get more information through the provided link or seek guidance from an expert, free of charge. Utilize the available communication channels, such as live chat during business hours, to discuss your specific situation and receive professional assistance. If any aspect of the application process seems challenging, assistance is available to help navigate through it. Wishing you success with your Portuguese business endeavor!

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