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The abolishment of real estate investment option from Portugal\u2019s Golden Visa scheme has led a significant number of internationals to turn their eyes to the D7 visa, known as the Retirement Visa.<\/p>\nThe abolishment of real estate investment option from Portugal\u2019s Golden Visa scheme has led a significant number of internationals to turn their eyes to the D7 visa, known as the Retirement Visa.<\/p>\n
Portugal\u2019s real estate investment option, which was among most famous options of the country\u2019s Residency by Investment Scheme, was terminated by Portuguese authorities in a bid to deal with the housing crisis, Schengen News reports.<\/p>\n
The abolishment of this route has brought into the spotlight the D7 visa. Established by the Government of Portugal in 2007, this kind of visa allows nationals from non-EU\/EEA and Switzerland to acquire residency in Portugal, provided they have sufficient passive income.<\/p>\n
Requirements to Benefit from Portugal\u2019s D7 Visa<\/strong><\/p>\n Among the requirements for benefiting from the D7 visa is to have a reasonable passive income.<\/p>\n To qualify for the Passive Income Visa, applicants should be aged 18 or older, have a clean criminal record and have private health insurance.<\/p>\n The passive income can come from movable property, real estate, rental income, financial investments or intellectual property. The minimum requirement income for the D7 visa is that applicants make at least \u20ac820.00 per month.<\/p>\n The Passive income visa is valid for two years and can be extended for an additional three years. After a five-year period of obtaining a residency permit, its holders can be required to be Portuguese nationals.<\/p>\n The processing time for the D7 visa is up to 60 days, provided applicants submit all the required documents.<\/p>\n Eligible Investment Options for Portugal\u2019s Golden Visa Program<\/strong><\/p>\n In October 2023, following the approval of the \u201cMore Housing\u201d bill by Portugal\u2019s President, Marcelo Rebelo de Sousa, two routes were abolished from the Golden Visa Program in a bid to deal with the housing crisis.<\/p>\n Following the changes that took effect on October 9, 2023, the real estate investment option to acquire residency and the option of transferring a total of \u20ac1.5 million into a Portuguese bank account in exchange for residency is no longer available.<\/p>\n However, wealthy foreign nationals can acquire residency in Portugal through the following options:<\/p>\n Over 11,000 Golden Visas Granted Since 2012<\/p>\n Since the introduction of the Golden Visa program, 11,535 golden visas have been issued to wealthy internationals, thus contributing significantly to the country\u2019s economy.<\/p>\n So far,\u00a0more than 18,000 foreign families have benefited from the Residency by Investment scheme.<\/a><\/p>\n The Golden Visa Program, along with the Non-Habitual Residents (NHR) program and B visas, are among the most famous options for internationals considering moving to Portugal.<\/p>\n Please do not hesitate to\u00a0contact us<\/strong><\/a>\u00a0if you need more information on the Tax current situation of the digital nomads and NHR in Portugal.<\/p>\n\n