Portugal Visas 2024: Investment & Residency Opportunities
[Updated 30th October 2024]
Portugal remains one of Europe’s most sought-after destinations for those looking to live, invest, and thrive abroad. With multiple residency pathways tailored to different needs, Portugal’s visa programs offer a blend of opportunity and flexibility for entrepreneurs, retirees, remote workers, and investors. Here’s your guide to the latest residency options for 2024, including the new NHR 2.0 scheme for non-habitual residents.Table of Contents:
- New Non-Habitual Resident (NHR 2.0) Scheme
- The Golden Visa: Schengen Visa
- D2 Visa: Entrepreneurial Visa
- HQA Visa (Highly Qualified Activities): Fast Track Entrepreneurial Visa
- D7 Visa: Passive Income Visa
- D8 Visa: Digital Nomad / Remote Work Visa
- Your Pathway to Portugal: Residency, Real Estate & Financial Expertise
New Non-Habitual Resident (NHR 2.0) Scheme
Portugal’s updated Non-Habitual Resident program, officially called the Fiscal Incentive for Scientific Research and Innovation (IFICI) Program, or NHR 2.0, offers a 20% flat tax rate on eligible income for professionals relocating to Portugal. This scheme primarily targets individuals in high-value sectors, such as higher education, R&D, technology, strategic sectors, and Portuguese startups. Eligible applicants also include those in export-driven industries or positions endorsed by local economic agencies. Unlike the former NHR scheme, NHR 2.0 excludes foreign pension income from tax benefits. For further details, see our full article on the new NHR 2.0 Scheme.
The Golden Visa: Invest Your Way To Residency
The Golden Visa, also known as the Schengen Visa, allows foreign investors (non-EU citizens) to obtain Portuguese residency by making one of the following investments:- €250,000 minimum for cultural heritage restoration.
- €250,000 minimum donation to the arts.
- €500,000 minimum into venture capital or funds.
- €500,000 minimum in commercial property, creating 5 jobs.
- €500,000 minimum in tech startups or research institutes.
- 10 new jobs through a business venture.
This includes only having to spend a minimum of seven days a year in Portugal - granting unhindered exploration across Europe’s Schengen Visa area. An ideal choice for investors who desire both a European foothold and global mobility.
However you go about obtaining a Portuguese Golden Visa, the application process will go something like this:
Application Process
To apply for the Golden Visa, applicants need to:- Obtain a Portuguese tax number (NIF).
- Open a local bank account.
- Choose a qualifying investment and complete the necessary steps.
- Gather and legalise all required documents, ensuring translation into Portuguese.
- Submit the application with legal assistance.
- Pay the Golden Visa processing fee.
- Await preliminary approval from SEF (Portuguese Immigration and Borders Service).
- Schedule and attend a biometric appointment.
- Upon approval, receive the residence card.
- Renew every two years, with eligibility for permanent residency or citizenship after five years.
D2 Visa: Bring Your Start-Up to Portugal
The D2 Visa is ideal for entrepreneurs and business owners looking to establish or expand their businesses in Portugal. There is no minimum investment required, but applicants must provide a solid business plan and demonstrate financial viability.Requirements and Residency
To qualify for the D2 Visa, applicants must:- Have a minimum monthly income of €820.
- Present a comprehensive business plan detailing financial commitment and viability.
- Obtain an initial 120-day residency permit.
- Apply for a residency permit upon arrival in Portugal.
- Fulfil residency obligations to stay eligible for permanent residency or citizenship after five years
HQA Visa: Fast Track Your Way to Residency
The HQA Visa, or Highly Qualified Activities Visa, is designed for entrepreneurs and professionals engaged in research or innovation who partner with Portuguese universities or research institutions. This visa offers a fast-track residency process, with approval in as little as 30 days, and requires a minimum investment of €175,000.Who Benefits
The HQA Visa is ideal for individuals with strong business plans, particularly those focused on academic or research-driven initiatives. Unlike other investor visas, the HQA Visa requires active involvement in business or research, making it suitable for professionals seeking a more hands-on role in Portugal’s innovation landscape.Key Advantages
The HQA Visa provides flexibility to live outside Portugal while maintaining eligibility for citizenship after five years. This makes it attractive for global entrepreneurs who want the option of Portuguese residency without being permanently based in the country.
D7 Visa: Embrace Retirement or Relish in Passive Income Blissfully
The D7 Visa, or Passive Income Visa, is designed for retirees and those living off stable income sources. It’s suitable for individuals with reliable income streams such as:- Pensions
- Rental income
- Royalties
- Intellectual property earnings
- Financial investments (e.g., dividends, interest)
- Transferable equity and savings
- Income and Residency Requirements
To qualify, applicants must:
- Provide proof of accommodation.
- Meet minimum passive income thresholds:
- Single applicants: €9,840 annually (€820/month)
- Joint applicants: €14,760 annually (€1,230/month)
- Each dependent child: €2,952 annually (€246/month)
Residency Obligations
To maintain D7 residency, applicants must:- Spend at least 16 months in Portugal over two years for the initial permit.
- Meet extended stay requirements for renewal and permanent residency:
- Renewal: 30 months in Portugal every three years
- Permanent residency: 30 months in Portugal every five years
D8 Visa: Embrace Remote Work and Live Your Portuguese Dream
The D8 Visa, or Digital Nomad Visa, allows non-EU remote workers to live and work in Portugal for an extended period while earning income from outside the country. This visa is designed for tech-savvy professionals, freelancers, and entrepreneurs seeking a high quality of life in Portugal, along with access to the wider European Union. With options for renewal and eventual permanent residency, the D8 Visa offers a flexible pathway for remote workers interested in establishing a base in Portugal.
Eligibility Requirements
To qualify for the D8 Visa, applicants must:- Meet a minimum monthly income of €3,280 (as of 2024).
- Hold a valid remote work contract or proof of self-employment with non-Portuguese clients.
- Provide additional income documentation for dependents:
- Spouse/partner: an additional €410 per month
- Each dependent child: an additional €246 per month
Residency Path
D8 Visa holders can renew their visa annually or transition to a standard two-year residency permit, which may be extended. After five years of meeting residency requirements, visa holders become eligible to apply for permanent residency or citizenship, providing them with the opportunity to establish long-term residence in Portugal.Your Pathway to Portugal: Residency, Real Estate & Financial Expertise
Portugal’s diverse visa options open up exciting opportunities for residency, investment, and lifestyle in one of Europe’s most dynamic destinations. At Worldwide Property Co, we leverage our trusted network of legal, financial, and real estate professionals to streamline your journey. From selecting the right residency visa to securing your ideal property and arranging tailored financing, we’re here to ensure a seamless transition. Recent Economic Statistics: The real estate market in Portugal is flourishing magnificently; YoY housing prices have increased by 7.6% in 2023 (ceicdata). Investing in property within this thriving market can be a wise choice indeed. Source: https://www.ceicdata.com Contact us to begin your journey toward living, investing, and thriving in Portugal. Please Note: Visa rules can change, so consult an immigration attorney for the latest info.
