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Which residence visa is best for retirees moving to Portugal?

For retirees considering a move to Portugal, the D7 Residence Visa is an excellent option designed specifically for individuals living off personal revenue. This visa is ideal for those who can demonstrate a reliable source of passive income, be it through pensions, investments, or rental properties. To qualify, you need to prove an income equivalent to the current minimum wage in Portugal for yourself and a proportional lower amount for dependents. A rental contract or proof of property ownership in Portugal is also required. This visa not only facilitates residency but also allows retirees to enjoy Portugal’s beautiful climate, culture, and healthcare system. After an initial visa period of 120 days, you can apply for a residence permit for one year, which can be renewed every two years. Additionally, after five years of residency, you may apply for permanent residency, offering even greater stability. Portugal’s welcoming lifestyle and affordable living make it an attractive destination for retirees. As you consider this life-changing decision, gathering necessary paperwork and understanding requirements can ensure a smooth transition. Discover the joys of living in one of Europe’s most charming countries while enjoying security in your retirement. Contact us today to discuss your retirement visa options!

Monday, 11 December 2023 - Fiscal
Which residence visa is best for retirees moving to Portugal?

As the very successful ‘Golden Visa’ for Non-Europeans to achieve residency in Portugal came to an end this year, only ‘Golden Visas’ for investments and companies are still possible. Please ask for further information.

We introduce to you, this quick and easy guideline to entering Portugal and the options to stay.

 

You are a Non-Resident in Portugal:

 A Temporary Stay Visa is used for stays of over 90 days and up to 1 year, with multiple entrances allowed into Portugal.

A Residence Visa is for applicants that wish to stay in Portugal for more than 1 year. The applicant will initially be granted a visa valid for 120 days with up to two entrances into Portugal, followed by an appointment with SEF (Portuguese Immigration and Border Agency) in Portugal, to acquire a Residence Permit.

The Visa application must be submitted in person at the Consulate/VFS Global Services that serves the applicant´s legal area of residence.

 

Here are a few of the more popular categories listed below and some of the main qualifying criteria:

1. RESIDENCE VISA FOR SUBORDINATE WORK ACTIVITY - D1 is suitable for employees (the client needs to have a working contract or a promise of working contract with a company).

2. RESIDENCE VISA FOR INDEPENDENT WORK ACTIVITY OR MIGRANT ENTREPRENEUR - D2 is suitable for entrepreneurs, freelancers or independent service providers, entrepreneurs who want to start a business in Portugal, or who have a business in their own country and want to open a branch in Portugal. (Non Europeans could obtain a visa if they buy a rental property and reside there and work on an employment contract as they run a business. This can also apply to hotels and guesthouses, but requires an official rental licence).

3. RESIDENCE VISA FOR TEACHING PURPOSES, HIGHLY QUALIFIED AND CULTURAL ACTIVITY - D3 is suitable for highly qualified activities, such as research.

4. RESIDENCE VISA FOR RESEARCH, STUDY, STUDENT EXCHANGE, INTERNSHIPS, VOLUNTEER WORK - D4 and D5

5. RESIDENCE VISA FOR FAMILY REUNIFICATION - D6 is for family reunification, for those who already live in Portugal and want to bring their family. This is applied for in person at a SEF office by the resident of Portugal on behalf of their family member/s.

6.  RESIDENCE VISA FOR FIXED RESIDENCY FOR RETIREMENT PURPOSES, FOR PEOPLE LIVING OUT FROM PERSONAL REVENUE, FOR RELIGIOUS PURPOSES -D7 is the visa for retired people, or those who live off their own passive income.  You need to prove a passive income of the current minimum wage in Portugal for the first applicant and 50 % of that amount for a partner or parents plus 30 % for each child. The income can come from rentals, retirement, dividends, or investment. You also need either a rental contract or own a property in Portugal that you intend to reside in. After the first period of 120 days an applicant can obtain a residence permit for 1 year which can be renewed every 2 years. After 5 years it is possible to apply for permanent residency. You can travel throughout the Schengen territories. This program has relevant minimum stay requirements (more detailed information can be obtained from the SEF/VFS Global website).

7. RESIDENCE VISA FOR THE EXERCISE OF A PROFESSIONAL ACTIVITY DONE REMOTELY - “DIGITAL NOMADS” - D8 can be temporary or a residence visa, suitable for professionals who work remotely on their own account or for others in a foreign country and do not need a physical office.  Its main requirement is to have a monthly income of approx. € 3,040.

 

Sources: Portugal immigration guide: visas and residency permits | Expatica

Extending Stay/Visa – Website of Portuguese Immigration (sef.pt) / https://www.msn.com/en-xl/news/other/goodbye-sef-hello-aima-find-out-what-changes-in-this-guide/ar-AA1kLTBV

VFS Global handles applications from submittance of applications, processing and issuing of the visa for all countries. Important for the initial temporary visa which is called a stage 1 visa, SEF/AIMA only handles stage 2 visas after the person has arrived in Portugal on their stage 1 visa – followed by SEF/AIMA for the stage 2 visa, but there are also some exceptions.   www.vfsglobal.com     

Immigration office SEF / AIMA   https://imigrante.sef.pt/  

Who needs a visa - General information - Short Stay Visas (Schengen) - Visa (mne.gov.pt)

Schengen Visa: Requirements and Eligible Schengen Countries (etiasvisa.com)

 

We can recommend law companies and accountants to support you with all important information about the VISA POSSIBILITIES in Portugal.

 

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