VISA D2 - Residence Visa for a Sole Trader or an Immigrant Investor

By Dennis Swing Greene, in Business · 18-09-2020 01:00:00 · 0 Comments
VISA D2 - Residence Visa for a Sole Trader or an Immigrant Investor

The request for a Residence Visa to exercise an independent professional activity or to become an immigrant investor (visa D2) is normally issued to the applicant in his country of residence through the Portuguese Embassy or Consulate.

Once application has been made, the deadline for the decision is usually 60 days, starting from the day of submission of the application with all substantiating documentation. This period may vary depending on the country of origin. Alternatively, if approval is pending, applicants may enter Portugal with a Tourist Visa, and during their Visa term and a possible extension, treat their petition for a residence permit directly with “SEF” (Immigration and Borders Service) and start the business activity simu-ltaneously. In other cases, they use the tourist visa period to analyze and deal with their investment in Portugal, and then return to their home country with all necessary documentation to request a Residence Visa D2.

How to apply?

The following documents are normally required:

Visa Application Form from the Portuguese Embassy or “SEF”;

  • Passport valid for more than 3 months beyond the planned departure date;
  • 1 photo, size 3 x 4 cm, color and plain background, updated and in good condition to support the applicant’s identification;
  • Criminal Record Certificate, issued in the previous 3 months, in the country of origin or where the applicant has lived for more than a year, authenticated by the respective Ministry of Foreign Affairs;
  • Proof of medical insurance which covers any necessary medical expenses including emergency medical assistance and possible repatriation;
  • Application for Portuguese Criminal Record;
  • Proof of accommodation: property deed or
  • rental contract;
  • Proof of means;
  • Independent professional activity: contract for services with a company or Contract/Proposal for services with clients;
  • When applicable, a declaration issued by the competent authority for verification of the profession licensing requirements that are subject to special qualifications in Portugal.

Immigrant Investors

  • Declaration that you made or intend to carry out an investment operation in Portugal, indicating the nature, value and duration;
  • Proof that you have funds available in Portugal, including those obtained from any financial institution in Portugal, and the intention to carry out an investment operation in Portugal, properly described and identified.
  • At any time you can apply for your personal Tax ID Number in Portugal, so you can get started in your business activity or investment in Portugal.

Rights and Duties of a Resideny Permit Holder

A residence permit holder is implicitly entitled to:

  • Family reunification
  • Education and study
  • Undertaking remunerated employment
  • Pursuing activities as a self-employed

Professional

  • Professional guidance, training, improvement
  • and redeveloping
  • Health care
  • Access to the law and justice

The legal provisions securing equal treatment to foreign citizens, specifically in connection to Social Security, fiscal benefits, participation in unions, recognition of diplomas, certificates and other Professional qualifications, as well as the right of access to goods and services available to the public and the application of provisions granting them special rights, are secured.

Dennis Swing Greene is chairman and International Tax Consultant for euroFINESCOs.a. www.eurofinesco.com



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