Proving passive income is essential for a D7 visa application. Provide clear documentation like bank statements or pension payments and seek legal advice for support.
To qualify for the D7 visa, you must demonstrate sufficient passive income to support yourself and any dependents while living in Portugal. Here’s how you can prove your passive income:
1. Types of Acceptable Passive Income:
- Pensions:
- Regular pension payments from government or private pension plans.
- Rental Income:
- Income from renting out property.
- Investment Income:
- Earnings from investments, including dividends, interest, and capital gains.
- Royalties:
- Income from royalties, such as those from intellectual property like books or patents.
- Savings and Investments:
- Income generated from savings accounts, bonds, stocks, or other investment vehicles.
2. Documentation Required:
- Bank Statements:
- Recent bank statements showing regular deposits from passive income sources. These should be from the last 6-12 months.
- Income Statements:
- Official income statements or summaries from your investment accounts, pension plans, or rental agreements.
- Tax Returns:
- Copies of recent tax returns that detail your income sources and amounts.
- Contracts and Agreements:
- Lease agreements if claiming rental income, or contracts if receiving royalties.
- Proof of Investment:
- Documentation from financial institutions or investment firms that confirms the amount and source of income.
3. Certification and Translation:
- Certified Translations:
- If any documents are in a language other than Portuguese or English, you’ll need to provide certified translations.
- Notarization:
- Some documents might need to be notarized to verify their authenticity, especially if they are from foreign institutions.
4. Financial Statements:
- Proof of Income Continuity:
- Provide financial statements or letters from financial institutions that confirm the stability and continuity of your income.
- Affidavits:
- Affidavits or sworn declarations from banks or financial advisors confirming the nature and amount of passive income may be required.
5. Specific Income Amounts:
- Minimum Threshold:
- Ensure that your passive income meets or exceeds the minimum income threshold required by the Portuguese government. This threshold is subject to change and should be verified with the latest regulations.
6. Additional Considerations:
- Consistency:
- Demonstrate that your passive income is consistent and reliable, with sufficient funds to cover living expenses in Portugal.
- Financial Stability:
- Evidence of financial stability and the ability to support yourself and your dependents throughout the duration of the visa.
Summary:
To prove your passive income for the D7 visa application, provide comprehensive documentation such as bank statements, income statements, tax returns, and contracts related to your income sources. Ensure that all documents are up-to-date, translated into Portuguese if necessary, and meet the minimum income requirements set by the Portuguese authorities.