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Startup Visa

D2 Visa (Startup Visa) for Portugal

The D2 Visa, also known as the Entrepreneur Visa or Startup Visa, is a legal residency permit designed for non-EU/EEA nationals who intend to establish a business or entrepreneurial activity in Portugal. The purpose of this visa is to foster economic growth, innovation, and job creation within the country.

  • Criteria
  • Legal Process
  • Cost of Obtaining
  • Benefits
  • Conclusion

Criteria for Obtaining a D2 Visa

  1. Submission of a Comprehensive Business Plan: Applicants must submit a detailed business plan demonstrating the viability and potential economic impact of the proposed business. The plan should include financial projections, market analysis, and job creation potential.
  2. Proof of Financial Resources:Applicants are required to provide evidence of sufficient financial resources to support both themselves and the proposed business. This may include personal savings, business capital, or other income sources. The adequacy of these funds will be assessed based on the business plan and the type of business.
  3. Business Registration: The applicant must register the business with the Portuguese Commercial Registry (Registo Comercial). This can be done through the creation of a new company, the establishment of a branch of an existing company, or the formation of a startup.
  4. Initial Investment: While there is no statutory minimum investment amount, the investment must be substantial enough to support the business operations as outlined in the business plan. Typically, investments starts from €50,000, depending on the nature and scale of the business.
  5. Proof of Accommodation: Applicants must provide evidence of accommodation in Portugal, which may include a rental agreement or proof of property ownership.
  6. Criminal Background Check: Applicants must submit a clean criminal record certificate from their home country and from any country where they have resided for more than one year. This certificate must be issued within the last three months.
  7. Health Insurance: Proof of adequate health insurance coverage in Portugal is mandatory for the applicant and any accompanying family members.

Legal Process for Applying for a D2 Visa

  1. Preparation of Documentation: Applicants must gather and prepare all required documents, including the business plan, proof of financial resources, proof of accommodation, criminal background check, and health insurance.
  2. Business Registration: The business must be legally registered with the Portuguese Commercial Registry. This involves submitting the necessary forms and paying any applicable registration fees.
  3. Visa Application Submission: The completed visa application, along with all supporting documents, must be submitted to the Portuguese consulate or embassy in the applicant's country of residence.
  4. Consular Interview: Applicants may be required to attend an interview at the Portuguese consulate or embassy to further discuss their business plan and intentions in Portugal.
  5. Visa Approval: Upon approval of the visa application, the applicant will receive a D2 Visa, which allows entry into Portugal for the purpose of establishing the business.
  6. Application for Residence Permit: Upon arrival in Portugal, the applicant must apply for a residence permit at the local Immigration and Borders Service (Serviço de Estrangeiros e Fronteiras, SEF).

Cost of Obtaining a D2 Visa

The costs associated with obtaining a D2 Visa can vary based on individual circumstances, but the following is a general breakdown of potential expenses:

  1. Visa Application Fee: €90 - €180 (varies by consulate/embassy).
  2. Company Registration: Approximately €360 - €500, including registration fees and notary services.
  3. Initial Investments: Typically between €5,000 - €50,000, depending on the nature and scale of the business.
  4. Legal and Consulting Fees: €5,000- 15000, depending on the complexity of the application and the services required.
  5. Accommodation Costs: Monthly rental costs in Portugal can range from €500 - €1,500, depending on the location and type of housing.
  6. Health Insurance: €400 - €1,200 per year, depending on the coverage and provider.
  7. Miscellaneous Expenses: Including travel, document translation, and notarization, which can amount to €500 - €1,000.
Tentative Total Expense: €68,380

Benefits of the D2 Visa

  1. Residency Rights: The D2 Visa grants legal residency to the applicant and their immediate family members.
  2. Employment Rights: Visa holders are legally permitted to manage and work within their own business in Portugal.
  3. Schengen Area Travel: Visa holders can travel freely within the Schengen Area without the need for additional visas.
  4. Pathway to Citizenship: After five years of continuous legal residency, D2 Visa holders may be eligible to apply for permanent residency or Portuguese citizenship, subject to meeting all legal requirements.

Conclusion

The D2 Visa for Portugal is a legally robust option for entrepreneurs seeking to establish a business in Europe. By complying with the investment and business registration requirements, applicants can secure residency and contribute to Portugal's economic development while gaining access to the broader European market. Legal advice and assistance from immigration and business law professionals are highly recommended to ensure compliance with all legal requirements and procedures.

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