Not in a touristy, contrived way, but as the standard day to day life of the country. It exudes history, beauty, and slow-paced living. Portugal offers a good climate, stunning beaches, low cost of living and most importantly, security!

What is the D7 Visa?

The D7 visa is an affordable and attractive visa allowing non-EU citizens to get Portuguese residency provided they have sufficient funds to sustain themselves during their stay in Portugal.

This visa is ideal for retirees or entrepreneurs who want to live in Portugal without having to make a major economic investment. This is granted to individuals who can prove to have the means to sustain themselves for a period of no less than 12 months without being financially dependent on the Portuguese government. In this respect, a monthly income of approximately 1500 euros per month must be verified. In case the applicant is accompanied by an adult, 50% must be added to that amount, and 30% of the said amount must be added for each child under the age of 18.

Benefits of the Portugal D7 Visa

  • Permanent free entry and circulation in the Schengen area
  • Live, work and study in Portugal
  • Tax benefits via Non-Habitual Residency (NHR)
  • Benefit from the Portuguese health care system
  • Fast visa process
  • Entire family is eligible

Minimum stay in Portugal

The holder of a D7 visa, must remain in Portugal for 6 consecutive months or 8 non-consecutive months.
Main steps are the following:

  • Obtaining a tax number
  • Opening of a bank account in Portugal
  • Collating all the documents
  • Submitting at Visa Facilitation Services Centre (VFS)

OS Migration:

OS Migration will hold your hand from the beginning of the process in South Africa from obtaining a tax number, opening a bank account, collating all your necessary documents and accompanying you to VFS. OS Migration extends their services on your arrival in Portugal, with booking the appointment at the SEF office (Immigration and Border Services) for your residence permit.

The D7 visa is issued for up to two years, thereafter it can be renewed for a further three years and can be converted into a permanent residence permit after five years. In addition, after five years of holding the D7 visa, you’ll also be entitled to request Portuguese nationality, provided you fulfil the other requirements foreseen in the Portuguese nationality law.

Once in Portugal or when you are ready to make your move, Blacktower can assist in all your personal wealth and financial planning; assisting you in restructuring your portfolios and investments and finding the best solution to mitigate your tax in Portugal.

Congratulations, the first stage of arranging your new stress-free life in Europe is complete. With the peerless help and advice, you received from OS Migration, you should now be in full possession of everything you need to begin your life as a Portuguese resident. Tax number, bank account and visa all in hand, you can now confidently move to the second stage of the process, with Blacktower to guide you every step of the way.

Financial peace of mind

At Blacktower, we have been taking care of clients’ financial planning for 35 years. Our first-hand knowledge of the local market means we are ideally placed to help you put the right measures in place to protect your financial future in Portugal. If you have multiple revenue streams, pensions and assets located in or outside of your new home country, we can advise you on the best ways to access these whilst mitigating your tax burden.

Non-habitual residency (NHR)

The NHR tax regime is ideally suited to the needs of a South African expat; anyone who is not yet tax resident in Portugal, and who has not been tax resident in the previous 5 years, may be able to take advantage of this scheme. NHR confers special tax privileges on qualifying individuals whereby you can benefit from several exemptions. For instance – receiving dividends from a foreign source completely tax free, as well as pension income at a flat rate of 10%. For employment income the highest rate of income tax in Portugal is currently 48%, but under the NHR scheme it is capped at a very reasonable rate of 20%. So long as you commit to spending at least 183 days in Portugal per tax year, you are eligible for this preferential tax scheme for a period of 10 years.

Investing with tax-efficiency

At Blacktower, we can advise you on the best investment strategies to suit your long and short-term goals. We have a range of tax-efficient investment products available that are tax-compliant according to Portuguese law, which can ultimately benefit you and your family. Your investments can be combined into a life insurance policy which is linked to funds, thereby wrapping your capital in a tax-efficient structure, which provides benefits that the NHR scheme cannot give you. You could stand to make considerable savings on your tax liability as compared to what could be accrued by leaving your capital in your bank account. A further benefit on this type of structure is that it allows you to pass on your wealth to your family without liability to inheritance tax.

Why Blacktower?

In order to get your new life in Portugal off to the best possible start, it’s important to plan your finances before, during and after your relocation so that you mitigate your tax responsibilities and strengthen the performance of your assets. We can take the stress out of dealing with your financial planning in a new country and do so in a language which you understand. We operate in 20 countries worldwide and currently have $2 billion in assets under management.

Blacktower Financial Management has been providing expert, localised, wealth management advice in Portugal for the last 20 years. We can help with specialist, independent advice on securing your financial future. Get in touch with us on (+351) 289 355 685 or email us at
The above information was correct at the time of preparation and does not constitute investment advice. You should seek advice from a professional adviser before embarking on any financial planning activity.