The Portugal D2 was created with the objective of attracting foreign entrepreneurs who want to invest in Portugal, creating small and medium sized companies with economic, technological or cultural relevance to the country. The high standard of living, safety, lower cost of living, pleasant climate, well-educated workforce, lower labor costs, and lower corporate tax rate compared to many other EU countries have made Portugal an attractive destination for people who wish to launch their business or start-up or want to travel and trade more easily within the EU market. Portugal is also an ideal location for digital or technology-focused businesses due to its world-class infrastructure.
The D2 or the Immigrant Entrepreneur Visa is for entrepreneurs, freelancers, and independent service providers from outside of the EU and Schengen Area who wish to start (or transfer) a business or startup, or have already invested in a business, in Portugal. If your application is approved, you will be granted residency in Portugal. This will entitle you to live and work in Portugal.
The D2 has several advantages as compared to other European entrepreneurship visas. Unlike the Golden Visa, there are no minimum amount requirements. Although, most immigration firms would advise you to invest at least €5,000 worth of capital to demonstrate the credibility and viability of your proposed business plan. The more money you put into your company, the better your chances of getting a visa. Although this is not a free investment, it is a reasonable amount for many entrepreneurs. The D2 visa is directed at small and medium-sized businesses. Since the main objective of this visa is to raise external resources to help the Portuguese economy develop, you must have a solid business plan. Your business plan will be evaluated in terms of its financial viability as well as its economic, social, scientific, technological, and cultural relevance. Unlike the Start-up Visa, which is only appropriate for technological or startup-type businesses, the D2 Visa has no limitation on the type of business you decide to launch in Portugal. It could be anything from a café, restaurant, or guest house to a tech startup to an import or export business. You can even set up a Portuguese branch of your existing foreign business.
Who Is Qualified to Apply?
The D2 Visa is open to non-EU/EEA/Switzerland citizens who:
- Either want to start a business in Portugal
- Or already have a business running in Portugal, but have not yet applied for the visa
Requirements for the D2 Visa
You must meet all requirements that are set by the Portuguese Government. Your application will be thoroughly and carefully reviewed by experts.
So, you must have:
- A solid, well-structured Business Plan
- A viable business
- Sufficient capital
- A solid business reasoning for the creation of the business
- Proof of the financial resources to support the setup and growth of the business
- Proof of means of subsistence. This normally means a minimum full wage annual value, plus half of that amount for your spouse and €2,160 for children. The minimum wage in Portugal is around €7,800, but this changes every year.
Family Members and Dependents
You can apply for a Family Reunification Visa to bring your spouse, your children, and your parents (considered dependents) to Portugal after receiving your initial residency permit. You must demonstrate that you not only have the financial resources to support yourself, but also each family member. However, the amount for spouses and children is not as high as the amount for supporting yourself.
Eligible Dependents
The main applicant is entitled to include the following dependent family members within their application:
- A spouse or partner
- A minor or incapacitated child
- Children older than 18, who are single and studying in an educational establishment in Portugal
- Dependent parents of the main applicant or their spouse
- Minor siblings, who are legally deemed to be in the care of the main applicant
Citizenship
Like the D7 and Golden Visa, the D2 provides a path to Portuguese Citizenship as well as a way of living in Portugal. Under the D2 visa, Portuguese residency permits have been granted for an initial period of 2 years.
After 5 years of residence in Portugal, those on the D2 are eligible to apply for settlement(Citizenship).
During those 5 years, you must spend at least 90 days living in Portugal to maintain your residency and be eligible for settlement. If, however, your business requires you to travel outside of Portugal for work, there is a certain amount of flexibility given.