To transition from a D2 Visa to another residency, consult immigration authorities, gather required documentation, and consider working with legal advisors.
Transitioning from a D2 Visa (Entrepreneur Visa) in Portugal to other types of residency as your business expands involves evaluating your new circumstances and selecting the most appropriate visa option that aligns with your business growth and personal residency goals.
1. Assessing Your Residency Needs
As your business expands, your residency needs may evolve. For instance, growth could involve hiring more employees, increasing investments, or generating substantial income, potentially making you eligible for different types of residency permits that better suit your new status.
2. Transitioning to a D7 Visa (Passive Income Visa)
- Eligibility: If your business expansion leads to the generation of passive income (such as rental income or dividends), or if you have other sources of income like pensions or investments, you might consider transitioning to the D7 Visa. This visa is designed for individuals with a stable and sufficient income stream and offers more flexibility in terms of residency.
- Application Process: To apply for the D7 Visa, you will need to provide evidence of your passive income, continued business operations, and health insurance coverage to SEF (Serviço de Estrangeiros e Fronteiras). Meeting the financial criteria is crucial for the approval of this visa.
3. Transitioning to a Golden Visa
- Investment Focus: If your business expansion involves making significant investments in Portugal, such as purchasing real estate, creating jobs, or other qualifying investments, the Golden Visa might be an appropriate option. The Golden Visa provides a pathway to permanent residency and potentially citizenship.
- Application Criteria: To transition to a Golden Visa, you must meet specific investment thresholds, such as investing at least €500,000 in property or creating a certain number of jobs. The application is processed through SEF, and you must maintain the investment for a minimum period to remain eligible for this visa.
4. Applying for Permanent Residency
- Five-Year Residency Requirement: If you have been residing in Portugal for five years on a D2 Visa and your business has remained stable and successful, you can apply for permanent residency. Permanent residency allows you to live and work in Portugal indefinitely without the need for visa renewals, offering more long-term stability.
Summary
Transitioning from a D2 Visa to other types of residency in Portugal depends on your business's growth and your changing residency needs. Whether it's moving to a D7 Visa for passive income, applying for a Golden Visa through significant investments, or seeking permanent residency after five years, each pathway offers distinct advantages that cater to different stages of business and personal circumstances. It's essential to assess your situation carefully and choose the option that aligns best with your future goals in Portugal.