How to get a D2 entrepreneur visa in Portugal: conditions and terms

Life and work: Opportunities Provided by the Portuguese D2 Visa

The Portuguese D2 visa allows foreigners to reside in the country and engage in active entrepreneurial activities. The main requirement for obtaining it is to create or acquire an existing company on the country's territory or provide services as a self-employed professional. The legislation does not establish minimum limits regarding the value of the company or its turnover. The only requirement for visa applicants is to demonstrate that they can support themselves financially with a minimum of €9840 in their bank account for annual living expenses.

Who the D2 visa conditions apply to, besides business owners

The D2 visa allows not only the entrepreneur but also their close relatives to reside in the country. The right to family reunification comes into effect. Residence permits can be obtained by:

1. Spouse or partner. Relationships must be documented, with a marriage certificate or civil partnership recognized by law.
2. Children and parents. Documentary evidence that the main applicant supports them financially is required.

When it comes to relocating the entire family to Portugal, in addition to €9840 for the main applicant's own maintenance, there must be €4920 for each adult family member and €2952 for each child in the main applicant's account.

Documents required for obtaining D2 visa for Portugal

The list differs for the main applicant and their relatives. Entrepreneurs of legal age need:

• A criminal record certificate, translated, and apostilled.
• Incorporation documents for the business they own and international reporting forms for the latest period.
• Contract or written offer from the client for self-employed professionals, and a declaration from competent authorities confirming professional competence if required.
• Bank confirmation that the applicant has sufficient funds in their account to cover personal expenses for one year.
• Completed application form and color photographs in the specified format.
• Original and copy of the passport for foreign travel.
• Agreement confirming the rental or purchase of accommodation in Portugal.
• Consent for the criminal record check in Portugal.
• Round-trip tickets.
• Mandatory health insurance policy.

For those in the planning stage, about to register their company, a business plan with detailed calculations is required. A bank certificate of the account balance is also needed, with sufficient funds to form the share capital during registration.

Procedure for obtaining a Portuguese visa

First Legal Portugal company is ready to assist anyone planning to obtain a D2 visa in Portugal and conduct business activities in Portugal. Our lawyers accompany the applicant at each stage, typically four:

1. Preliminary client check immediately after applying for services. The applicant and their business undergo analysis for potential issues that may hinder visa issuance. This step reduces the risk of refusal at the embassy.
2. Formation of a complete document package. The applicant provides all personal documents and papers of the existing company. In the absence of an existing business, a business plan needs preparation, and a bank account opening and individual tax number acquisition are required. First Legal Portugal lawyers will assist if necessary.
3. Buying or renting accommodation in Portugal. The location of the property doesn't matter, but a contract must be formalized, and a bank account opened to conduct all transactions.
4. Direct contact with the Consulate of Portugal in the applicant's country of residence. First Legal Portugal staff schedules the visit in advance, reserves the date and time. It is necessary to strictly adhere to deadlines, take the entire document package, and pay the consular fee. The request processing takes from 60 to 90 days. If the application is approved, the passport will be returned with the visa. Its validity period is 4 months.

Once the right of entry and residence in the country is obtained, one can proceed to the next step – obtaining a residence permit in Portugal. Immigration services in Portugal handle its issuance. The residence permit is issued for 1 year. After the first year, the residence permit can be extended for 2 years, with the possibility of further extension for another 2 years.

Why D2 is so popular among migrants

The D2 visa opens up numerous privileges, requiring no significant financial or time expenditures. It allows:

1. Living and doing business in a country with beautiful landscapes, clean air, and a moderate climate.
2. Transferring an existing company or creating a new one without tying to a specific type of activity.
3. Applying for a residence permit, thereby gaining free movement within the Schengen area.
4. Registering in areas with favorable tax regimes – in Madeira and the Azores.

An attractive prospect for anyone holding a residence permit is obtaining Portuguese citizenship. This opportunity arises after just 5 years of continuous residency, with the legislation allowing for dual citizenship. The Portuguese passport serves as a key to visa-free travel worldwide and legal residence in EU countries.

How to Obtain a Portuguese Visa without Investing in the Country's Economy

Portugal offers many opportunities to live and work on its territory, even without investments. Any option takes effect from 3 months, granting the right to obtain other permits for long-term stays. There is a requirement for minimal residence in the country within six months. Other options include:

1. Visa for the entire team of an innovative company, even if the startup is in the development stage.
2. D3/HQA Visa - offers the chance for highly qualified professionals to move to Portugal and work for local companies under contract. Mandatory requirements include a diploma in a relevant field and income of €1530 per month.
3. D7 Visa for applicants meeting specific conditions: they have a source of passive income (from rent, bonds and securities, intellectual property, dividends, pensions), and the income amount is at least €9840 per year.

Each of these visas entitles the entire family to enter Portugal. Upon request and compliance with a set of requirements, close relatives of the applicant can also obtain residence.

Current Conditions for Entrepreneurial Activity Taxation

The corporate taxation system in Portugal operates based on the following principles:

1. The standard corporate tax rate is 21% of profit.
2. Individuals pay taxes based on the source of income:
   1. A progressive tax scale applies to all residents' incomes, ranging from 14.5% to 48%, also relevant for pension payments.
   2. For NHR status holders, the rate is 21%, regardless of whether they work as employees or not.
   3. Pensions received from abroad are taxed at 10% only for those who became residents after April 2020.

If Portugal has a valid international agreement, incomes may be taxed in the country where they originated, presenting an excellent opportunity to optimize the budget by avoiding double taxation.

Choosing the Right Business Form in Portugal

Legislation in the country provides for several organizational and legal forms of enterprises to cover various types and scales of work, regardless of capital and business directions:

LDA or Sociedade por Quotas - requires a small initial capital, can be organized even by one person.

For large enterprises, SA or Sociedade Anónima is better. Their statutory capital starts from €50,000 and involves the participation of at least five shareholders. The operating principle is similar to a public limited company.

To encourage entrepreneurship in all its forms and scales, company registration in Portugal is quick and without unnecessary bureaucratic procedures, taking only 24 hours.

Opportunities Unveiled by Entrepreneurship in Portugal

The country and its citizens make every effort to create a favorable business climate for non-residents. The first advantage is the absence of language barriers; English, French, and Spanish are freely spoken here. Secondly, the country ranks as a leader globally in personal and business safety. Thirdly, its friendly citizens are always open to new ideas and initiatives.

Additional business opportunities in Portugal include:

• Over 300 coworking spaces equipped with the latest technology operate throughout the country.
• High-level internet coverage.
• Access to the Atlantic Ocean.
• A well-developed transportation network.
• International agreements on cultural and economic cooperation.
• EU membership and participation in free trade zones.

A company owner is not obliged to live and work directly at the place of registration, which expands opportunities and allows for business management without constant attachment to one location.

Tax incentives and investment attractiveness of regions

Tax incentives are in effect in the Azores and Madeira. Here, one can not only relax and enjoy the landscapes but also advantageously conduct their own business. This is explained by the fact that local authorities are doing everything possible to increase the economic level of these autonomous units. Their goal is to approach the levels of business activity seen in the capital. Tax breaks are an advantage for the rapid development of the region.

The island is an excellent place to establish a company. Possible options include:

• Provision of services (consulting, legal and tax support);
• Maritime freight transportation;
• Production of goods and/or their storage.

The corporate income tax rate in Madeira is only 5%.

Path to Citizenship Through Investments

The Golden Visa program is a proposal for investors willing to invest their savings in the country's economy. The conditions for obtaining it are among the softest, excluding requirements for the investment amount:

• Residence permits are issued for all family members supported by the investor.
• Compulsory residence in Portugal is only two weeks every two years.

Although in 2024 the most popular direction for investment, real estate, is no longer available in the program, other opportunities for investment remain. Additionally, funds can be invested in research activities and the development of the region's culture. Such investments of €250,000 grant the right to a residence permit.

For those who prefer financial investments, there is a choice among such objects as:

• Commercial banks.
• Capitalization of companies with terms of at least 5 years.
• Expansion of local companies, creation of new jobs.
• Establishment of a new enterprise with vacant positions.

First Legal Portugal lawyers are always ready to provide consultations on obtaining Portuguese citizenship and assistance in the implementation of one of the directions for obtaining a visa, conducting business, and effective investment in Portugal.

Frequently Asked Questions About Portuguese Visas

Does the Portuguese D2 visa grant the right to conduct business activities?

Yes. It's more of an opportunity to obtain it than a right. Documentary evidence that the company is already operating or confirmation of the intention to establish it in the near future is required. Then the likelihood of refusal to obtain the D2 visa is minimized.

What tax regime operates in the country?

There are several options for business taxation in Portugal. The corporate income tax rate is 21%. There are special conditions for new residents for the first 10 years of work (although currently the conditions for new applicants are significantly limited). Incomes from sources outside the country are not exempt from taxation

What areas of activity are guaranteed to bring profits?

Portugal is a territory with favorable conditions for the development of manufacturing and service industries. Information technology, light and food industries, metallurgy, mechanical engineering, and many other sectors will provide income if business is conducted competently

What is needed to obtain a residence permit?

Portuguese legislation has created favorable conditions to attract as many qualified personnel and investments as possible, thereby developing the country's economy and enhancing its scientific and cultural potential. A residence permit can be obtained through investment and non-investment methods. The main thing is to justify one's benefit for the good and development of Portugal, prove the value of one's knowledge, skills, or make financial investments in the development of one of the economy's sectors. To obtain a residence permit with entrepreneurial visas, it is necessary to comply with the conditions regarding the minimum length of stay in the country. Turnover investments grant the right to apply for a residence permit immediately for all family members, without strict additional requirements.