Portugal Freelancer of Retirement (Passive Income) Visa: Essential 2022 Guide For Successful Applications
In this article, we’ll go through everything you need to know about the Portugal Freelancer and Retirement visa, as well as how to make your application a success. Many people have benefited from our assistance in applying for their Portugal Freelancer and Retirement visas, so you may rest assured that we are experts in the field.
What is the Portugal Freelancer and Retirement (Passive Income) and how does it work?
The Portugal Freelance or Retirement visa is available to non-EU, non-EEA, and Swiss citizens outside of the EU, EEA, and Switzerland who have sufficient income from abroad to reside permanently in Portugal. It’s ideal for people who want to live fulltime in Portugal for freelance work as a digital nomad, for retirement or for other reasons.
Although this visa type is sometimes known as a “passive income visa” or a “retirement visa”, remote work salary (in many cases) counts as a valid source of money for this visa application.
In many other countries, remote work is more difficult to obtain and does not generally qualify. Countries such as Spain are usually more strict about remote work when it comes to granting visas, like the Non Lucrative Visa, and don’t typically permit remote working.
The Portugal D7 visa, which now includes the option to work remotely, has skyrocketed in popularity among digital nomads and retirees.
You might also come across chatter about Portugal’s digital nomad visa, which is once again the case in point.
The Freelance and Retirement (Passive Income) visa’s name emphasizes its flexibility as a path to Portugal residency. Its straightforward criteria are appropriate for a wide range of individuals. You’re certainly already eligible, or you can quickly become so.The name “D7” refers to the D7 visa’s flexibility as a method to obtain Portuguese residency. Its easy standards are suitable for a wide range of individuals. You’re likely already qualified or can quickly obtain qualify if not.
The Portuguese government has a policy of encouraging immigration in order to revitalize the country’s economy, and that is why the Portugal D7 visa is so flexible.
As a result, when compared to countries like the United Kingdom or the United States, Portugal’s immigration procedures are quite simple.
Advantages of the Portugal D7 Visa
With a D7 visa, you may live and work in Portugal for up to five years with the following privileges:
- If you come from a country that requires a Schengen visa, this type visa allows you to travel freely throughout the Schengen area for up to 90 days within every 180-day period.
- By living in this state, you have access to some of the best healthcare available at little to no cost.
- The EU family reunification program makes it possible for you to bring your family members to Portugal.
- Without investing a lot of money like Golden Visa, you can get full Portugal residency rights.
- The minimum monthly passive income required in any EU country is one of the most minimal.
- You can take advantage of Portugal’s NHR (non-habitual residency) scheme, a special tax program designed to benefit residents.
- You can study, work, or launch a business in Portugal.
- Living costs in Europe are some of the most reasonable in the world.
- If you’re looking for a secure and gentle place to live, Portugal is one of the safest countries in the world.
- After five years of residency, you may apply for Portuguese citizenship.
Portugal Freelancer of Retirement (Passive Income) Visa: A Step-by-Step Guide for Approaching 2022 with Confidence
In this article, we’ll go through everything you need to know about the Portugal Freelancer and Retirement visa, as well as how to make your application a success. Many people have benefited from our assistance in applying for their Portugal Freelancer and Retirement visas, so you may rest assured that we are experts in the field.
What is the Portugal Freelancer and Retirement (Passive Income) and how does it work?
The Portugal Freelance or Retirement visa is available to non-EU, non-EEA, and Swiss citizens outside of the EU, EEA, and Switzerland who have sufficient income from abroad to reside permanently in Portugal. It’s ideal for people who want to live fulltime in Portugal for freelance work as a digital nomad, for retirement or for other reasons.
Although this visa type is sometimes known as a “passive income visa” or a “retirement visa”, remote work salary (in many cases) counts as a valid source of money for this visa application.
In many other countries, remote work is more difficult to obtain and does not generally qualify. Countries such as Spain are usually more strict about remote work when it comes to granting visas, like the Non Lucrative Visa, and don’t typically permit remote working.
The Portugal D7 visa, which now includes the option to work remotely, has skyrocketed in popularity among digital nomads and retirees.
You might also come across chatter about Portugal’s digital nomad visa, which is once again the case in point.
The Freelance and Retirement (Passive Income) visa’s name emphasizes its flexibility as a path to Portugal residency. Its straightforward criteria are appropriate for a wide range of individuals. You’re certainly already eligible, or you can quickly become so.The name “D7” refers to the D7 visa’s flexibility as a method to obtain Portuguese residency. Its easy standards are suitable for a wide range of individuals. You’re likely already qualified or can quickly obtain qualify if not.
The Portuguese government has a policy of encouraging immigration in order to revitalize the country’s economy, and that is why the Portugal D7 visa is so flexible.
As a result, when compared to countries like the United Kingdom or the United States, Portugal’s immigration procedures are quite simple.
Advantages of the Portugal D7 Visa
With a D7 visa, you may live and work in Portugal for up to five years with the following privileges:
- If you come from a country that requires a Schengen visa, this type visa allows you to travel freely throughout the Schengen area for up to 90 days within every 180-day period.
- By living in this state, you have access to some of the best healthcare available at little to no cost.
- The EU family reunification program makes it possible for you to bring your family members to Portugal.
- Without investing a lot of money like Golden Visa, you can get full Portugal residency rights.
- The minimum monthly passive income required in any EU country is one of the most minimal.
- You can take advantage of Portugal’s NHR (non-habitual residency) scheme, a special tax program designed to benefit residents.
- You can study, work, or launch a business in Portugal.
- Living costs in Europe are some of the most reasonable in the world.
- If you’re looking for a secure and gentle place to live, Portugal is one of the safest countries in the world.
- After five years of residency, you may apply for Portuguese citizenship.
Visa Requirements for the D7 Visa
The Portugal D7 visa is available to anyone who meets the following minimal requirements:
- Having a passport that is non-EU/EEA/Swiss
- Having a clean criminal background check
- In Portugal, having a passive or remote source of income that can sustain you without having to work constantly is a must.
- It is critical to have at least one year’s worth of living expenses saved up, both for yourself and any dependents.
The necessary amount of income
Passive income
The bare minimum requirement for passive income is the Portuguese equivalent of €705 per month.
Keep in mind that Portugal is expensive, especially if you’re planning to live in one of the larger cities. To increase your odds of a successful application, it’s advised that you have €1,000 per month saved up.
For a dependent spouse, add 50% of this sum. For each dependent child under 18, add 30%.
Savings
You will need to show that you have enough money saved up to support yourself and your family for the first year after you move to Portugal.
Before you send in your application for a Portugal D7 visa, be sure to deposit these funds into your Portuguese bank account.
The minimum amount is 12 x the minimum monthly income level. So, for example, if the minimum monthly income level is €705, then 12 x €705 = €8,460. If you have a dependent spouse, you should add 50% of this amount to your total. For each dependent child under 18, you should add 30% of this amount to your total.
Accepted forms of income
- The Portugal D7 visa application requires applicants to verify they have a consistent income, which can come from the following sources:
- Pensions
- Rental properties
- Investment or limited company dividends
- Remote work salaries
- Royalties
- Intellectual property
Additional Essential Requirements:
NIF (Portuguese tax identification number)
The NIF is a fundamental aspect of Portuguese life. It’s important for your Portugal D7 visa application, as well as a variety of other things while you reside in Portugal.
Before you start your D7 application, you’ll need to obtain your NIF.
You can accomplish it yourself using an internet service, but we strongly recommend working with a lawyer for your D7 application since they will be able to obtain it for you as part of the process. As Liberto Global, we have a fantastic legal team that will assist you at each step of the application procedure.
A Bank Account in Portugal
You’ll need to open a Portuguese bank account before submitting your D7 application.
This is where you deposit your savings for the first year.
Just like the NIF, open a bank account either remotely through Bordr or through your lawyer. In addition to being required for Portugal D7 visa application, having a Portuguese bank account will facilitate your daily life in Portugal from day one.
This is where you deposit your savings for the first year.
You can open a bank account in Portugal remotely using a service or through your lawyer.
Apart from being necessary for the Portugal D7 visa application itself, having a Portuguese bank account will make your daily life in Portugal easier.
Proof of income from passive or remote work
The key document you’ll need to show the Portuguese government for your D7 visa is proof that you can support yourself and your family financially. There are two components to this documentary evidence. First, bank statements from the past six months demonstrating income deposits into your account (It’s okay to use a home country bank account) . Second, documentation of where this income originates.
For example, you might use payslips for a remote employment compensation package. For dividends, you could provide dividend vouchers or a statement from your investment account. You may show proof of a contract with your tenants if you have rental income. If you’re receiving a state pension, you could show your pension eligibility letter from the government.
Proof of savings
Simple as that – simply deposit the required amount into your new Portuguese bank account.
Accommodation must be shown.
Previously, many Portuguese embassies would accept a booking through Airbnb or another accommodation site as part of a D7 visa application.D7 visa application.
Unfortunately, that is no longer commonly the case.
With more people applying for the Portugal D7 visa, embassies are now able to be more selective with their criteria.
Before they will accept your D7 application, many embassies now ask for proof of a 12 month rental agreement with a landlord or property deeds in Portugal. If you need assistance securing rental properties remotely, the team at Liberto Global would be happy to help you out.
Developing an understanding of when the rental agreement starts is important. It can be difficult to determine the correct start date, but it’s crucial that you do so in order to avoid any confusion or problems down the road.
The contract should ideally begin before you submit your D7 application since it will serve as proof of your residence in Portugal. However, this is frequently a less-than-ideal scenario for most individuals.
The contract should ideally begin before you submit your D7 application, since it serves as proof of residency in Portugal. However, this is typically not the case for most people.
We advise that for most Portuguese embassies’ D7 processing timelines, you start your 12-month rental agreement 60 days after your ideal appointment date at the closes embassy or consulate.
Insurance coverage for Health and Medical expenses
You can use the Portuguese state healthcare system once you become a Portugal resident. But while you wait for your residency permit, you’ll need comprehensive health insurance to safeguard yourself in the event of an emergency.
We generally suggest obtaining an insurance policy with one of the insurance firms. You’ll want to make sure that everyone in your family is covered. It’s a good idea to get coverage for at least six months, although twelve months would be ideal if you can afford it.
Certificate stating that an individual has no criminal record
If you want to apply for the Portugal D7 visa, it is suggested that you live in the country in which you are applying for at least two years. Depending on your location, different processes may be required.
For example, if you’re applying from the United States, then normally an FBI level certificate will suffice instead of a state level one; whereas those applying from the UK need either a DBS (Disclosure and Barring Service) check or an ACRO police certificate. As requirements vary by country, Applicants from other countries should confirm local requirements prior to beginning their application – which can be found on Portugal’s embassy website.
Portugal is an example of a country that has immigration laws that are strict. Portugal strictly requires all visa applicants to have a clean criminal record. However, it is still possible to apply with a minor crime on your record if Portuguese law would only sentence you to less than one year in prison. If this describes you, we highly advise working with an experienced Portuguese immigration firm like us to handle your application. Please contact us for our professional advice.