The D7 Visa, most commonly known as the Retirement Visa or Passive Income Visa was introduced in 2007 by the Portuguese Government. This Visa allows non-EU/EEA/Swiss citizens to apply for temporary residency in Portugal, conditioned on the applicant being in receipt of a reasonable and regular passive income.
What Benefits Can Applicants Expect From The D7 Visa
1 - Permission to live, work and/or study in Portugal
2 - Applicant can extend process for children and parents
3 - Non Visa dependant travel in the Schengen Area
4 - The opportunity to either establish a business or accept an employment in Portugal
5 - Eventually take advantage of the tax benefits when applying for either the Non-Habitual Residency Scheme
6 - After a period of 5 years in which a renewal of visa applications has been followed, the applicant is eligible to qualify for
a permanent residency or Portuguese citizenship
7 - Resident rights in Portugal, which include healthcare and education
What Are The Requirements For The D7 Visa Eligibility?
1 - Are a Non-Eu/EEA/Swiss Citizen
2 - Proof of funds to be financially self sustaining during stay in Portugal
3 - A clean criminal record
4 - Proof of a residency address in Portugal
5 - Spend a minimum of 16 months in Portugal within the first 2 year period of application
What Are The Passive Income Requirements For The D7 Visa Eligibility?
1 - Proof of a regular passive income, derived from either a pension, rentals, dividend or financial investments
2 - There are minimum income requirements. However these are dependant on the number of dependents included in the
application. The applicant must show proof of a minimum passive income of €8,460 per year (+50% for a spouse and
+30% for a child)
3 - It is advisable that the applicant hold an amount equal to as 12 months income in a Portuguese bank account
Could The D7 Passive Income Visa Be The Answer For UK Nationals After Brexit? Given the latest investment alterations for the application of a Golden Visa, the D7 Visa could be the answer for British nationals who either cannot afford the property investment or do not find their home in the right location.
The D7 Visa allows for UK nationals to gain back EU rights that were lost after Brexit, where after the 6 years either a permanent residency or possible citizenship can be obtained. Not only does this offer freedom when travelling to Portugal, but also for an travels throughout the Schengen area, alongside being given the right to work, study and live in any EU country.
Whether for real estate investment or for the freedom to travel in Europe, we would be happy to help with the acquisition of your home in the Algarve, a beautiful and luxurious nook in Portugal.
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