Portugal D7 Visa: Income Requirements in 2024

Portugal is one of the most popular countries for foreigners to live in Europe. This is because the government of this state provides several visa options at once, which give the applicant a Portuguese residence permit and the opportunity to obtain citizenship after a while. One of the most advantageous visas is the Portuguese D7 visa. 

Portugal retirement visa D7 is available to citizens of countries not part of the EU or EEA if they receive passive income in Portugal of 705 euros per month. The applicant can also obtain a D7 visa for their family members, but in this case, the amount of passive income required will increase depending on the number and age of applicants.

Benefits of Portugal D7 visa

The D7 visa is ideal for those who are already earning passive income in Portugal and want to move to this country for permanent residence. This is one way to become a citizen after 5 years. Citizens of Portugal can travel to almost 190 countries of the world under a visa-free regime, as well as move to any EU country and work there and get an education.

Since the residence requirements are pretty strict and the visa applicant must spend a lot of time in the territory of Portugal, it makes sense to become a tax resident of the country and enjoy the benefits and other aspects of the tax regime.

If the application for a D7 visa is approved, the validity of this document is initially 4 months, during which it is necessary to obtain a residence permit. The residence permit is valid for a year. Then, it can be extended for another 2 years 2 times, after which you can apply for a Portuguese passport.

Requirements for Portugal D7 Visa

In 2022, a foreigner can apply for a D7 visa if their annual income is at least 8460 euros. If the applicant’s spouse also participates in the program, the amount increases by one and a half times since you need another 4,230 euros per year for an adult family member. Children under 18 can also participate in the program. Each of them will need another 2,538 euros per year. 

To obtain a Portugal retirement visa, the applicant must fulfil a few additional conditions:

• Pay fees for processing an application for a visa and residence permit.
• Get health insurance valid in Portugal.
• Be over 18 years of age.
• Get a Portugal tax number.
• Open an account in a Portuguese bank.
• Prepare documents confirming receipt of income.
• Confirm the availability of a place to stay for at least 12 months (for example, rental housing).
• Not have a criminal record.

All the necessary steps for applying can be done without visiting Portugal. The opportunity to open a bank account appears only after the applicant has received a tax number.

Income requirements for Portugal D7 Visa

To provide proof of passive income, the applicant must earn money in one or more of these ways: 

• Rent out real estate. 
• Receive a pension. 
• Receive dividends. 
• Receive interest on savings; 
• Profit from other investments in assets with a fixed rate. 
• Receive passive income from intellectual property.

How to get a Portugal D7 Visa?

1. Preparation of documents and filling in the application form

A foreigner should take care of obtaining medical insurance for all applicants in advance. All prepared documents must be carefully checked for errors. If there are problems during the application processing, the process can take a long time. 

2. Payment of fees and obtaining a D7 visa 

If all D7 visa requirements have been met, it will take approximately 4 months for the application to be approved. The applicant must pay approximately 100 euros for processing the application. Roughly the same will cost a residence permit.

3. Get a residence permit. 

Initially, the visa is active for 4 months. During this time, the applicant must visit Portugal and sign up for an SEF meeting, having previously prepared the necessary documents in Portuguese. After the approval of the application, the residence permit is valid for 1 year.

D7 visa requirements: Documents

How to obtain a D7 visa as quickly as possible? Prepare and check all documents in advance! According to the recommendations of expert Evgeniya Morozova from Immigrant Invest, a list of required documents was compiled: 

• Civil passport and several copies of the main page (must be notarized) 
• Completed visa application form 
• Proof of regular or passive income 
• Two passport photos 
• Proof of residence in Portugal 
• Certificate of criminal record 
• Medical insurance 
• A cover letter stating the reason for applying

Immigration to Portugal is impossible without a residence permit. Visa D7 not only allows you to get it but also travel around Schengen countries and retire in a developed country with a high standard of living.