Comprehensive Guide to the Portuguese D2 Visa

 Miguel Taveira Silva | Solicitor

The D2 Visa, also commonly known as the Entrepreneur Visa is a visa that grants permission from Portugal for citizens of non-EU/EEA/Swiss countries to start a business in Portugal, develop entrepreneurship activities, or invest in Portugal. It was designed to develop foreign investment and bring in freelancers, entrepreneurs, and independent professionals to contribute to the Portuguese economy. An in-depth view of the D2 Visa will be provided in this insight, including the purpose of the D2 Visa, who may apply, how to apply, and the benefits that can be accrued from the visa.

This is a residence visa for foreign investors, entrepreneurs, and independent professionals who generate economic activity, contribute to job creation, and innovate in Portugal. It is addressed to:

• People who want to establish a new business in Portugal.
• Business owners or shareholders looking to expand their existing business abroad to the Portuguese State.
• Freelancers and independent professionals willing to practice their activities in Portugal.

The candidates for the D2 Visa need to fulfil certain conditions that slightly differ for each applicant category: entrepreneur, business owner, or freelancer. Generally speaking, the following requirements are common for all the applicants:

• Business Plan: This is the most important document to be presented, which should include information on the business model, economic viability, and predictable contributions it will bring to the Portuguese economy, such as job creation, innovation, or impact on the local market.
• Capital Investment: Most applicants are required to demonstrate an adequate level of capital to fund their venture. There is no minimum threshold; instead, this should be the amount needed to realize the proposed business. Capital can come from personal savings, investment capital, or third-party finance.
• Proof of Means of Subsistence: Entrepreneurs must prove that they can maintain themselves and any dependents during the residence period in Portugal. This may be shown through a bank statement, contracts, or proof of income.
• Professional Qualification (for freelancers/independent workers): Freelancers and independent professionals must provide proof of professional qualification and experience that is relevant to the exercise of their profession, along with contracts or work offers from entities or clients with headquarters or residence in Portugal.
• Company Registration: The business must be registered or be in the process of being registered with the relevant Portuguese authorities at the time of application.
• Contribution to Portuguese Economy: Applicants should demonstrate that their activity would contribute to the development of the country's economy. That can be testified by the intention of creating at least some employment opportunities, innovation, or responding to a certain market need (more adequate for the Start-Up Visa).

The process of application for the D2 Visa involves several steps both in the home country and in Portugal:

1. Application Submission: The application should be submitted to the Portuguese Consulate in the applicant's country of residence. Normally, this will be complemented with an application form, a business plan, proof of means of subsistence, proof of accommodation in Portugal, and any other relevant documentation.
2. AIMA Approval: The application will be forwarded to the immigration authority in Portugal, the Agency for Migration, Integration and Asylum (AIMA), for verification. AIMA will assess the viability of the business plan, applicant's financial situation, and contribution to the economy.
3. Temporary Residency Permit: Once the D2 Visa is approved, the applicant may enter Portugal and apply for a Temporary Residency Permit at AIMA. The permit will be granted for 2 years and may be renewed on the condition that the business is active and viable.
4. Renewal and Permanent Residency: D2 Visa holders can apply for permanent residency after five years of maintaining a valid residency permit and can apply for Portuguese citizenship after five years, given they meet the necessary legal and language requirements.

Below is the list of some of the common documents to be presented during the application of a D2 Visa:

• Valid passport.
• Business plan, including investment, job creation, market studies, etc. 
• Proof of financial means to sustain oneself and the business: bank statements, savings, etc. 
• Proof of housing in Portugal: rental agreement, property deed. 
• Proof that the business exists or company registration documents, if any. 
• Professional qualifications and experience: freelance professionals. 
• Health insurance that covers you in Portugal. 
• Criminal record certificate, issued by your home country.

• Access to the Portuguese Market: Allows entrepreneurs and freelancers to establish and conduct business legally in Portugal - this acts as a gateway to the wider EU market.
• Family Reunification: Holders of the D2 Visa have a chance for family reunification, bringing in the spouse, dependent children, and other qualified family members into Portugal.
• D2 Residence Permit and Citizenship Path: As indicated above, residence via the D2 Visa paves the way to permanent residency and further Portuguese citizenship.
• Access to Healthcare and Education: Holders of this type of visa and their families are entitled to use all the public healthcare and educational institutions of Portugal.
• EU Mobility: In the case of D2 Visa holders, once they obtain a residence permit, they also acquire rights to travel to any country within the Schengen Area visa-free for up to 90 days in any period of 180 days.
  

• High Competition: Due to the popularity of Portugal among entrepreneurs, applicants tend to be high in number. For any applicant, ensuring an effective and detailed business plan can make all the difference between approval and denial;
• Bureaucracy: Much like many other visa processes, getting a D2 Visa can be quite bureaucratic, hence taking more time and being really challenging to work through the different steps, hence why legal support from a qualified law firm is extremely important;
• Language Barrier: While most Portuguese speak English, as in much of the world in metropolitan centres and professional spaces, learning the Portuguese language certainly aids in integrating and communicating, especially if looking to live long-term or apply for citizenship.