Visa D7 – this is the year to move to Portugal

Forbes has ranked Portugal as the top country to live in due to its excellent security, affordable cost of living, pleasant climate, gorgeous beaches, rich culture, and delicious cuisine, among dozens of other factors.

Therefore, Portugal offers the best conditions for those seeking a peaceful retirement or those who want to take advantage of their passive income resources immediately. Additionally, obtaining a Visa is easy.

We explain everything you need about the Residence Visa for pensioners or other passive income holders, the so-called D7 Visa.

Who can apply for the D7 Visa?

This can be granted to any non-EU/EEA/Swiss citizen with a regular passive income.

This income can be from retirement or another source of passive income, whether through intellectual property, real estate investments, or financial investments.

According to Portuguese law, one of the main requirements is to prove that you have the minimum income, which allows you to reside in Portugal for no less than 12 months.

The applicant must prove an annual income of €760 x 12 months = €9,120 per year, plus 50% of said income for the spouse and 30% for each dependent child. You must also have documentary proof of having accommodation in Portugal (owning a property or having a lease). And have documentary evidence of having a reasonable net regular passive income (pensions, dividends, rents and more).

How does the procedure unfold?

There are only two phases: the first at the Consulate or Embassy of Portugal in the country where the applicant lives or has an official residence, and the second at the Foreigners and Borders Service (SEF) in Portugal.

What are some of the main benefits of the D7 Visa in Portugal?

• Allows you to enter and travel in the Schengen area without a visa.
• Allows you to obtain a residence permit in Portugal for one year. After that, you can extend it every two years.
• After five years of legal residence, you can apply for a permanent residence permit, or you can also apply for Portuguese citizenship by naturalization, provided you pass a Portuguese language test.

As a Portuguese resident, will I have access to health services or other rights?

After becoming a resident in Portugal, you acquire the right to certain benefits from the State:

• Family reunification;
• Access to the National Health Service;
• Self-employed professional activity;
• Access and protection of the Portuguese law and legal system;
• Access to the National Education Service and schooling in Portugal;
• Once you have the D7 visa, your family can accompany you to Portugal.

Possibility of becoming an RNH resident

Portugal has a special tax program known as RNH (non-habitual resident). Under this program, you will be tax-free or significantly reduced in paying taxes on your foreign-source income.