Is the D7 visa right for me?

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  • #19567 Reply
    Isa
    Guest

    Hey, I am 24 years old and I am a fresh graduate and I am interested to move to Portugal to live and work but I am wondering if the D7 is the right choice for me.

    1-I don’t have a passive income as I don’t work yet, but my family can deposit sufficient funds in my bank account, let’s say 100k Euros or more, so will that be acceptable without having a passive income?

    2-My main aim is to live and work in Portugal as an investor, so I will open my own company after moving to Portugal. Will the D7 visa allow me to open my own business later on? I read some articles but they are all vague, some say I can work as a freelancer only, some say I can’t work at all, and some say I can open my own business.
    So anyone knows if I’m allowed to open my own business? or I will need to convert my residency later on to a different type of residency?

    I was thinking about doing the Golden Visa, but due to it’ high cost and I will certainly live in Portugal for over 7 days a year, I am considering the D7. Do you think it’s the right visa type for me?

    Regards

    #19587 Reply
    James Cave
    Keymaster

    Hi Isa,

    The D7 could be an option with those kinds of funds, but it sounds like the D2 is more what you’re looking for. The D2, or entrepreneur visa, is specifically for those that want to move to Portugal to set up a business and establishing a company as an investor would fall under that.

    The terms of the D2 are pretty similar to the D7 in terms of residency requirements (+6 months per year) and it sounds like this would suit you a lot better than the Golden Visa. As you point out, the GV is best for people who don’t really want to live in Portugal.

    Have a read of this article: https://www.portugalist.com/d2-visa-residency/

    #19593 Reply
    Isa
    Guest

    Hey, thanks a lot for your reply, James! 🙂

    I have read about the D2 visa but I am not sure if it would suit me as I am a fresh graduate, and they may require experience for such types of visas or a detailed business plan and my business idea may get rejected.

    That’s why I thought the D7 could be easier and just require money in the bank account. So what do you think? do they easily accept the D2 visas?

    and anyways, would the D7 allow me to work as well or allow me to apply for it without having a passive income but just family support in my bank account?

    #19605 Reply
    James Cave
    Keymaster

    Hi Isa,

    It’s true that your age could be seen as a negative when submitting a business plan, but it could also be seen as a negative on the D7 too. SEF prefer other forms of income to savings, especially with younger applicants, as it would be very easy for you to either spend all of the money on a house or for your family to only be loaning it to you temporarily. So, it’s hard to say.

    If it’s okay with you, I’ll pass your details onto a relocation company that I work with here and they can better advise you!

    #19617 Reply
    Al
    Guest

    Hello. I am thinking of retiring in Portugal. I’m retired so I can show retirement income, I can qualify for the yearly savings required like $12k per year plus more.
    I have an Italian identity card, temporary Italian medical card with USA passport.

    I was thinking of renting for at least 3 months and leave because visa only allows USA passport holders for 90 days.

    Which way to go for residency?

    Thank you

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