How you can retire in Europe with Portugal’s passive income D7 visa?

Highlights: Plan you retirement in Europe with a Portugal D7 visa

• The Portugal D7 visa is an excellent opportunity for those with a stable passive income to get permanent residency in Portugal.
• The Portugal Passive income visa is ideal for remote workers and retirees who want to settle in Europe.
• The applicant must earn a monthly passive income of at least €1,000 and an annual income of €12,000.
• Dependent children and adults with a higher passive income requirement can be included in the D7 visa application.

 

*Looking to apply for a Portugal D7 visa? Get in touch with experts at Y-Axis to help you with the process. 

 

What is Portugal D7 visa?

The Portugal D7 visa, also known as the passive income visa, allows you to reside in Portugal and visit the countries in the EU region. It is mainly for non-EU citizens earning a stable passive income and looking to settle in Europe. The D7 visa offers a permanent residency pathway, even offering citizenship after the completion of 5 years in the country with a D7 visa. The application fee for a D7 visa costs around €90 and takes up to 60 days to process.  

 

Why apply for a Portugal D7 visa?

Here are some of the reasons why you should consider Portugal for your retirement:

 

• Freely travel within the Schengen area
• Have your family accompany you to Portugal
• Reside for 2+3 years in the country
• Get a permanent residency pathway
• Qualify for citizenship in Portugal after five years
• Retire and lead a relaxing life in Portugal   

 

Who can apply for a Portugal D7 visa?         

You can apply for a Portugal D7 visa if you are:

 

• A non-EU citizen
• Have a monthly income of €1000 and an annual income of €12,000
• Have a criminal clearance certificate
• Show proof of accommodation in Portugal  
• Retirees or remote workers with a stable passive income

 

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How to retire in Europe with a Portugal D7 visa?

The D7 visa can be applied for at the nearest Portugal embassy. The application fee is €90 for single applicants.

 

Given below is a D7 application guide to help you understand the process better:

 

Step 1: Get a NIF number and open a bank account in Portugal

Before starting the application process, the first thing to do is to acquire an NIF number (taxation number) that authorizes you to carry out tax-related activities. Once the NIF number is released, you are required to open a bank account in Portugal.

 

Step 2: Look for accommodation

As proof of your accommodation in the country, you can either rent or purchase a property in Portugal for a maximum of 12 months.

 

Step 3: Schedule an appointment at the nearest local Portuguese embassy 

You can now book an appointment at the nearby Portuguese embassy and submit the checklist of D7 requirements. If approved, you will be granted a double-entry visa with a validity of 4 months.

 

Step 4: Fly to Portugal and apply for a residence permit

You can enter the country with a multiple-entry visa and then apply for a residence permit in Portugal by attending an interview at the (Agency for Integration, Migration, and Asylum) AIMA. You will be asked to submit the required documents and complete the biometrics.  

 

Step 5: Get the residence permit

Once the application is approved, you will receive your D7 visa. With the Portugal passive income visa, you can live in the country for an initial period of 2 years, with a renewal of 3 additional years.

 

Note: The D7 visa holder must remain in Portugal for at least 28 months and cannot exit the country for 6-8 continuous months during the 3-year residency period.

 

*Want to migrate to Portugal? Let Y-Axis assist you with the process. 

 

Working rights and Tax implications for Portugal D7 visa

Below are the working rights and the tax implications that will apply to D7 visa holders.

 

Working Rights for Portugal D7 visa

The passive income visa is granted to individuals who can financially support themselves without employment in Portugal. With a D7 visa, you cannot work in the country for any of the local companies. However, those who qualify for permanent residency in Portugal will gain eligibility to be employed by Portuguese companies. Permanent residency is granted to D7 visa holders who have completed five years in the country.

 

*Want to work in Portugal? Let Y-Axis guide you with the process.

 

New Portugal NHR Tax Regime

The Portugal D7 visa has tax implications that visa holders must follow. Individuals with a D7 visa must reside in the country for over 183 days to become a legal tax resident. The tax regime in Portugal was recently updated in 2024 and is known as the Fiscal Incentive for Scientific Research and Innovation (IFICI) Program. Under the new NHR regime, individuals can get special tax status, not requiring paying taxes for a minimum of 10 years. Individuals are given time until the 31st of December 2024 to apply for the NHR status.

 

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