Selling your business on a D2 Visa may result in visa termination. Consult immigration authorities or legal counsel to understand consequences and requirements.
If you sell your business while holding a D2 Visa in Portugal, the impact on your visa will depend on several factors, including whether you plan to start a new business, maintain other businesses, or pursue a different residency option.
1. Immediate Impact on Your D2 Visa
- Primary Business Requirement: The D2 Visa is granted based on your commitment to operate a business in Portugal. If you sell the business that was the basis for your visa application, you could be at risk of losing your D2 Visa unless you take steps to replace the business with another qualifying venture.
- Reporting to SEF: You must inform SEF (Serviço de Estrangeiros e Fronteiras) about the sale of your business. Failing to report significant changes in your business status could result in non-compliance, which may jeopardize your visa.
2. Starting a New Business
- Option to Start a New Business: If you sell your business, one option is to start a new business in Portugal. By establishing a new enterprise that meets the D2 Visa requirements, you can continue to fulfill the conditions of your visa without interruption.
- Business Plan Submission: You would need to submit a new business plan to SEF for approval, outlining how your new venture will contribute to the Portuguese economy. The new business should align with the objectives set out when you originally applied for the D2 Visa.
3. Transitioning to a Different Visa Type
- Alternative Residency Options: If you do not wish to start a new business, you might consider transitioning to another type of residency visa, such as the D7 Visa (Passive Income Visa) or the Golden Visa, depending on your circumstances. This transition would require you to meet the eligibility criteria of the new visa category.
- Application Process: To transition to a different visa, you would need to apply through SEF and provide the necessary documentation to demonstrate your eligibility, such as proof of passive income or qualifying investments.
4. Consequences of Not Maintaining a Business
- Risk of Visa Revocation: If you sell your business and do not start a new one or transition to another type of visa, your D2 Visa could be revoked. The D2 Visa is contingent on your active involvement in a business in Portugal, and without it, you may no longer meet the criteria for residency.
- Planning Ahead: It’s important to plan ahead before selling your business to ensure that you either have a new business in place or an alternative visa pathway to maintain your residency in Portugal.
Summary
Selling your business while on a D2 Visa in Portugal can have significant implications for your residency status. To maintain your D2 Visa, you would either need to start a new business that meets the visa requirements or transition to another type of residency visa. Failing to do so could result in the revocation of your D2 Visa. Proper planning and communication with SEF are crucial to ensuring that your residency status remains secure after selling your business.