Introduction
Why Portugal? A Hub for Entrepreneurs
Over the past decade, the number of foreign citizens residing in Portugal has been steadily increasing. In 2023, Portugal had 262,691 more foreign residents compared to the previous year. Of these, 3,492 were self-employed professionals and/or entrepreneurs.
This growth can be attributed to the country offering numerous business opportunities, a high quality of life, and access to the European market.
Additionally, to boost the national economy through foreign entrepreneurship, the D2 Visa stands out. This visa was created to attract investments and foster economic development, enabling entrepreneurs to establish their activities in Portugal.
In this text, we will explore the requirements for obtaining the D2 Visa for those who intend to undertake entrepreneurial activities in Portugal.
D2 Visa Explained for Entrepreneurs
Although the D2 Visa is not exclusive to entrepreneurs, it is the ideal choice for those looking to engage in entrepreneurial activities.
This visa allows the establishment of businesses in Portugal, making it particularly attractive to those seeking to benefit from government incentives and the country’s growing business ecosystem.
The D2 Visa is valid for four months and allows two entries into Portugal. Among the formal requirements for obtaining it, the presentation of a well-founded business plan or documents proving a contractual relationship with Portuguese entities is essential.
Thus, the D2 Visa is consolidated as a strategic legal pathway for expanding business or professional activities, allowing integration into a favorable and legally stable economic environment.
How and Where to Submit Your Application?
The process of obtaining the D2 Visa involves two main stages: applying for the residence visa at the Portuguese Consulate or VFS Global in your area of residence and obtaining the residence permit through AIMA.
Stage 1 – Consulate: Application for Residence Visa
The applicant must start the process at the Portuguese Consulate or the Consular Section of the Portuguese Embassy in their country of origin or residence. Depending on the jurisdiction, the application can be submitted in person or through the E-Visa portal. In some cases, Consulates delegate part of the visa process to VFS Global, a company that receives applications before forwarding them to the Consulate for analysis.
During the application submission, various documents must be provided, such as a partnership agreement or a written proposal for a service contract if the applicant is a freelancer. When applicable, a statement from the competent authority confirming the applicant's qualification to perform the activity in Portugal must also be included.
Once submitted, the Consulate has up to 60 business days to issue the residence visa upon payment of a €90 fee. With the visa issued, the applicant is authorized to travel to Portugal and begin the residence permit application process.
Stage 2 – AIMA: Application for Residence Permit
Upon arriving in Portugal, the second stage begins, involving scheduling an appointment with AIMA, I.P., to formally submit the application for the residence permit.
Portuguese immigration law stipulates that the residence visa should be issued with the AIMA, I.P., appointment details, including the date and location. If the visa is issued without this information, the applicant must schedule the appointment by phone after arriving in Portugal.
On the day of the appointment, the applicant must present the mandatory documents, such as a Tax Identification Number (NIF), proof of issuance of a Social Security Number (NISS), proof of accommodation, proof of subsistence means, among others.
Once these stages are completed and the residence permit is granted, the applicant will be fully regularized in Portugal and will wait to receive their residence card while enjoying their rights and access to public services in the country.
Benefits of the D2 Visa
This visa is the first step in obtaining authorization to live and work in Portugal.
Once in Portugal, with the residence permit approved, the applicant gains access to the National Health System, public education, and other structures of the Portuguese welfare state. Additionally, it allows free movement within the Schengen Area, facilitating business or leisure trips without additional visa requirements.
Another important benefit is family reunification for spouses, children, and legal dependents. Access to the European market is also a major highlight. Portugal serves as a gateway to an integrated and innovative business network, where entrepreneurs can explore new opportunities, establish strategic partnerships, and participate in international events.
Furthermore, after five years of continuous and legal residence, it is possible to apply for Portuguese citizenship or permanent residency, creating additional opportunities for business and entrepreneurship in the future.
Business Plan: The Cornerstone of a Successful Visa Application
A robust business plan is crucial for the approval of the D2 Visa. This document must demonstrate the viability and positive impact of the project in Portugal, addressing aspects such as job creation, economic contribution, and social relevance.
An effective plan includes a clear vision of the business, a detailed analysis of the Portuguese market, realistic financial projections, and strategies for sustainable growth. Additionally, it is essential to highlight the entrepreneur's experience and qualifications, evidencing their capacity to implement and manage the project successfully. This is the time to demonstrate to the authorities that the business will not only be viable but also beneficial for the local economy and society.
A well-structured business plan should include:
Executive Summary: Overview of the project, highlighting the value proposition and main objectives.
Company and Industry Description: Details about the nature of the business, entrepreneurs’ experience, and market positioning in Portugal.
Market Analysis: Research on the target market, competition, demand, and identified opportunities in Portugal.
Financial Projections: Estimates of revenues, expenses, profits, and potential for local job creation.
Growth Strategy and Local Impact: Sustainable expansion plans, highlighting the positive impact on the Portuguese economy and community.
Final Considerations
Portugal stands out as an attractive and strategic destination for entrepreneurs, offering unique opportunities for personal and business development.
The D2 Visa is an important legal pathway for those seeking to integrate into the Portuguese ecosystem, combining a straightforward process with significant benefits, such as family reunification, access to the European market, and the possibility of applying for Portuguese citizenship after five years of legal residence.
It reflects Portugal’s commitment to attracting talent and investments, fostering an environment conducive to innovation.
The team at FiO Legal is prepared to provide the necessary legal assistance to entrepreneurs and their businesses. Schedule a consultation to learn more about the D2 Visa and other investment options in Portugal.
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