Portugal residency visas explained: D7 visa, D2 visa, Golden Visa, EU citizenship & NHR (2021)

[@taxfinancialadviceinportug4745]

IMPORTANT - PLEASE READ REGARDING THIS CHANNEL The content on this channel is for educational and information purposes only. It should not be relied on as advice, and you should always take qualified advice before making any changes to your personal position. Whilst I have experience in the financial and tax industry, this channel is for recreational purposes and is not an advertisement for my business or services. Its purpose is to share quality information. Whilst every care is taken as to the accuracy of the information in these videos, the information provided is based on the understanding of the rules at the time, and rules can change with little or no notice. Whilst I cover a wide range of issues on the channel, in my professional role I specialise in tax efficient investments, UK and overseas pensions, estate planning, and wealth management for expatriates based in Portugal. Unfortunately, I do not offer visa or tax return services, nor can I assist US nationals. *Thank you for your support and understanding. I hope to continue to provide you with valuable information to help you with your life in Portugal. If you have any suggestions for content you would like to hear, please let me know*

[@cookmaster3626]

Under a D7 visa you say that by default you are a Portuguese tax resident. Understand that part and under teh dual Taxation treaty whatever i pay in Portugal can be recouped in US tax filing. Now one item you mentioned caught my attention that is Portugal depending on the filing may exercise the first right to collect taxes. Now can you clarify the following questions in a D7 Visa scenario, 1. Typically what Taxes are collected by Portugal. Do they consider my worldwide income for taxation filing and what are the rates. 2. Does Portugal charge a Wealth Tax on my worldwide Assets. Thanks

[@taxfinancialadviceinportug4745]

Hi Cook Master. 1. Income tax and capital gains tax on your worldwide assets 2. no. Best wishes. Mark

[@isaacmaarcus]

Thanks for all the information 👍👍

[@taxfinancialadviceinportug4745]

You're welcome Isaac :-)

[@itsalexbentley]

Brilliant, clearly articulated video. Thankyou

[@taxfinancialadviceinportug4745]

Thank you for your kind words Alex. Best wishes. Mark

[@All-Father88]

I'm a remote worker and have rental property in the UK. With the remote work, I sometimes need to visit construction site to carry out surveys etc within the Schengen area. Would the d7 or d2 visa allow me to do this?

[@taxfinancialadviceinportug4745]

Thank you for your comment. My understanding is that both will allow you to do this although just remember that, whilst you can spend unlimited time here in Portugal when you are legally resident, you will still be restricted to 90/180 rule for the rest of the Schengen area. Best wishes. Mark

[@cookmaster3626]

Is the Tie breaker rule on which country collects the Tax applicable for US and Portugal too?

[@taxfinancialadviceinportug4745]

The US is different to almost every country in the world as it imposes taxation not based on residency of the individual, but on the nationality so if you are a US citizen you must always pay tax in the US

[@karenmiller0417]

Thank you for another great video. I have been wondering if payments received from a personal loan in the USA would qualify as passive income in Portugal, but haven't found any information on this topic. Any insights would be much appreciated.

[@taxfinancialadviceinportug4745]

Thank you Karen. This is more an immigration law aspect rather than tax/financial aspect so it is out of my area of expertise. From personal experience, I've also seen different clients asked for different sources/proof of income so I would suggest you take guidance on this from a lawyer. I can refer you if needed. Best wishes. Mark

[@paulz6491]

Thank you for your very clear and easy to understand video. I’m a 58 year old Canadian that just retired with an employer pension that is taxed at 10%. With the D7 visa would I have to pay tax in Portugal in addition to the 10% that I pay in Canada?

[@rajmohamed4000]

Dear Paul honestly we have been trying to start business in Canada, but you are looking to settle in Portugal?😀😀😀

[@paulz6491]

@@rajmohamed4000 Hi Raj I plan on living 6 months in Portugal and 6 months in Canada. I love Canada but I’ve had enough of Canadian winters and now that I’m retired I have options. Good luck, I hope you make it to Canada and start your business 🙂

[@taxfinancialadviceinportug4745]

Hi Paul. Thank you for your comment and I'm really sorry for the delay in replying but I've been on vacation for the past couple of weeks. I am not a specialist in Canadian tax but I've looked at the double tax treaty between Portugal and Canada and it is possible that tax may have to be paid both in Canada and Portugal. Good luck in your move to Portugal. Best wishes. Mark

[@paulz6491]

@@taxfinancialadviceinportug4745 Thank you very much for your answer I appreciate it 🙂

[@taxfinancialadviceinportug4745]

@@paulz6491 You're welcome Paul

[@cookmaster3626]

With a D7 visa are you allowed to buy property in Lisbon, Porto or Algarve area since it is barred from purchase under the Golden Visa rule.

[@taxfinancialadviceinportug4745]

Yes you are :-)

[@khansaab3244]

Hi mr mark I want to ask if i apply d7 visa what about rental agreement in portugal for application is it nessasery document or no need plz reply me thanks.

[@taxfinancialadviceinportug4745]

Hi Khan. yes, you will need an official rental agreement here. Best wishes. Mark

[@khansaab3244]

@@taxfinancialadviceinportug4745 thanks And if some issue the visa d7 is reject so what about rent in portugal i allready paid

[@xpat3339]

Mark, Does your passive income ie UK pension have to physically be going through the bank at the time of your application or can it be projected (with proof) or can you show a lump sum in the bank of lets say 30,000 euro. I ask this because I want to apply for a D7 asap but my pension doesnt start going through the bank until Jan 22.

[@taxfinancialadviceinportug4745]

Hi xpat333. I've not come across that question to be honest, but I know they are getting more strict on the requirements so I suspect you will actually need to prove income flowing currently.. However, as the rules seem to be evolving, I would speak with a lawyer who can actually handle the visa process for you. Good luck and best wishes. Mark

[@motivationtonewgeneration7791]

Hi, well done nice video. But how we can apply for a d7 visa from India. As I don't know how to start the process first what we need. Like the application form, what should I do, what we should do first. Please explain it .

[@taxfinancialadviceinportug4745]

Hi Gurpeet. Thank you for your comment. The process is quite detailed and I will do a separate video about this shortly, but in short, the process with start at the Portuguese embassy in India so I would recommend you visit their site direct. I also include below a link to the Portuguese requirements that you will need. Good luck and best wishes. Mark vistos.mne.gov.pt/en/national-visas/necessary-documentation/residency#fixed-residency-for-retirement-purposes-religious-purposes-or-people-living-out-from-individual-revenues

[@karu2995]

I have enough money to retire on, but I’m not of retirement age. Can I satisfy the requirement simply with my remote work income or some kind of trust with distribution?

[@taxfinancialadviceinportug4745]

Hi KaRu. Thank you for your question. Yes, you can qualify for a D7 visa if you have passive income coming in the form of dividends, rent, pension income and certain forms of investment income. Best wishes. Mark

[@Footballfan-xz3ox]

Hello mark,Im interested on D2 visa, i live in Bangladesh Can you pls kindly tell how much euro i need spend for D2 Visa, if i spend 20000 Euro can do a bussines. pls reply

[@taxfinancialadviceinportug4745]

Hi Football Fan. Thank you for your comment. I'm a Financial Adviser and Tax Adviser, not an immigration specialist which is who you should speak to in order to get a definitive answer on this, however my understanding is that 20k eur would be sufficient. Good luck with you move and kind regards. Mark

[@InvadableHarmony]

Thank you so much for the helpful video. :) I’m a music composer and I make income from streaming platforms like Spotify. Do you think I would be eligible for the D7 visa?

[@taxfinancialadviceinportug4745]

Hi Invadable Harmony. The D7 requires that you have a passive income, the main categories of which are interest, dividends, pension or rent. However, my understanding is that the Portuguese are quite flexible in this regard, so it may be possible. Best wishes. Mark

[@katarzynagrygo1634]

hi Mark, Do you happen to know what is required for a UK passport holder who has civil partnership with EU passport holder to reside in Portugal? Based on my understanding, D7 is not needed? Is this correct? Thank you!

[@taxfinancialadviceinportug4745]

Hi Katarzyna. My understanding is that it is no required and that you can come based on your relationship with an EU citizen, but it is worth checking that point with a lawyer. Best wishes. Mark

[@katarzynagrygo1634]

@@taxfinancialadviceinportug4745 thank you, Mark. I’m doing my initial information gathering.

[@taxfinancialadviceinportug4745]

@@katarzynagrygo1634 You're welcome - please let me know if you need any more help. Best wishes, Mark

[@harshagunasekara7184]

Thank you for the video. I am thinking of a golden visa but my country has repatriation restrictions. Can I come to Portugal with a D7 visa and go for an option like investing in a golden visa with the funds I get from my Portuguese bank within a year while living in Portugal? I will hope to get your service. Thanks.

[@taxfinancialadviceinportug4745]

Hi Harsha. I am a Tax and Financial Adviser, not an immigration/legal specialist. I would consult a Portuguese lawyer who will be in a better position to help you. Good luck with your research. Best wishes. Mark

[@filcambayadcentertv7220]

Hi super helpful video thanks so much. And as a fellow youtuber, I appreciate the effort you put not only in the video, but replying to each comment with detail. Thank you for your generosity. Im from Manila and wanting to apply for the D7. (Great to read in the comments section that your partner and family are from Siquijor) My question to you is: what are usually the most difficult documents to obtain before sending them the the PT embassy? And also, can I avail of your services to help? How much and what could you assist me with? I currently have passive income from the family business, and a few more from other sources, to barely meet the requirement for myself, my wife and child. Thank you very much and mabuhay ka maraming salamat :) Looking forward to hearing from you :)

[@taxfinancialadviceinportug4745]

Hello and thank you for your message. I am a tax and financial adviser, so I don't really deal with the documents side of the process - that is more for lawyers to deal with. I would recommend that you speak with a Portuguese lawyer who will be able to help you :-) Good luck with your move here. Best wishes. Mark

[@iamaftabahmed]

Quick question: If someone under D2 Or D7 visa doesn't stay for minimum 183 days in Portugal due to the tour of duty of nature of the Job or because of any other reason(Let's say he/stays for 160-170 days in a fiscal year). Will he face any issue on renewal of visa? And how can he solve this issue?

[@taxfinancialadviceinportug4745]

Hi Aftab. Thank you for your comment. I would like to be able to answer, but that isn't really a tax/financial issue and is more of a question for a lawyer. Best wishes. Mark

[@kshazad01]

Hi Mark, I am UK national living in Spain since 2017 and I have 5 years TIE card can I get Portugal residency based on article 116?

[@taxfinancialadviceinportug4745]

Hi Khuram. It appears so, but this is more of an issue for a lawyer specialist in this area. Good luck with your move if you decide to proceed. All the best. Mark

[@michielsmets7285]

Great video! When we get accepted for the NHR do we get a portugal bank account and visa card, etc? Can you give me your website or details because you can help with moving to Portugal and applying for NHR if i'm right? :)

[@taxfinancialadviceinportug4745]

Hi Michiel. You must first get your tax number (NIF number), then get your residency certificate. If you are an EU citizen, this will be very easy as you can automatically qualify. However, if you are coming from outside the EU, then you need to go through a visa process. When you get your residency sorted, THEN you can apply for the NHR program. NHR is simply a special class of Portuguese tax payer that lasts for 10 years, so it will not grant you a bank account or visa card in itself. So the order is: 1. get NIF number 2. open bank account 3. get residency (EU certificate or visa) 4. apply for NHR. You can contact me at [e-mail] - I am an international tax adviser and financial planner and can help you in these areas, but I do not actually process NHR or visa applications but can refer you to somebody that can. Best wishes. Mark

[@michielsmets7285]

@@taxfinancialadviceinportug4745 Thanks for the great reply! Quick question: If i apply for NHR as a Belgium person do i need to stay in Portugal for 183 days a year if i don't buy any real estate? or can i travel outside Europe but still have the NHR?

[@taxfinancialadviceinportug4745]

@@michielsmets7285 Hi Michiel. You do not need to be here for 183 days each year. The important point then becomes ensuring you stay out of any other country's tax system and not exceeding their day limits. Kind regards. Mark

[@mekia02]

Did you talk about the D2 visa?

[@taxfinancialadviceinportug4745]

Only briefly as it is not a popular route for most of my clients. A Portuguese lawyer will be able to help you. Best wishes. Mark

[@WISERandHAPPIER]

If you pay 20% tax on UK property & stay less than 16 days in the Uk, do you pay double tax on the property?

[@taxfinancialadviceinportug4745]

Hi Wiser and Happier. You will not pay double tax, in fact you may not pay any tax at all. If you are a new resident to Portugal and apply for the Non Habitual Residence (NHR) scheme (see my separate video), then for the first 10 years there will be no tax here on any rental income. If you are a UK national, you will still enjoy your personal allowance to offset against the income. I have a rental property in the UK, but because the rental income is less than my personal allowance, I pay no tax there or here as I am a Non Habitual Resident. The position after the 10 year NHR period ends is different, as you will then pay tax here in Portugal on the rental income, but get a credit for any tax paid in the UK (so again you will not pay double tax). Just an aside, but it is unlikely (although possible) you have have a day count allowance as low as 16 days. Most clients I meet tend to have a 90 or 45 day allowance, but it depends on the number of ties and connections you have to the UK. I will be doing a separate video on this to explain the Statutory Residence Test 2013 which is the basis of these rules. I hope this helps. Best wishes

[@antons6335]

Thank you for your video. I have just a one question about D7 visa. In order to obtain the D7 Visa I need to provide a proof of funds having €7.980 for 1 year stay. Once it comes to my visa renewal for 2 additional years after a year of living in Portugal, do I have to show my banking account balance of €7.980 * 2 for the time period? Or it's enough just to meet the salary threshold?

[@taxfinancialadviceinportug4745]

Hi Anton. This is more of a question for a lawyer who is experienced in making D7 visa applications. But the important point is that you need to show a passive income, such as income from property rentals, bank interest, dividend payments etc. and not salary. Best wishes. Mark

[@antons6335]

@@taxfinancialadviceinportug4745 thank you for answering. You are saying it should not be a salary. But there's some information that remote workers whose employer is overseas also match this visa conditions. Or they only must work for them as contractors? Do you know anything about it?

[@taxfinancialadviceinportug4745]

@@antons6335 Hi Anton. Yes, I've heard that too, but it seems like the rules are changing and I would therefore recommend you consult with an immigration specialist or lawyer. Best wishes. Mark

[@kananazizli3840]

Am I allowed to work or start a business for additional income on D7 visa if i can satisfy all the income requirements from other passive sources?

[@taxfinancialadviceinportug4745]

Hi Kanan. Yes, you are :-)

[@simplemen3620]

Hi, I am a British citizen wanting to move to Portugal and receiving approx.£549 a month from universal credit. My husband who is a Bangladeshi citizen living in the UK with me have UK residency permit. I want him to join me in Portugal. How do we proceed? Your early and detailed response will be much appreciated.

[@taxfinancialadviceinportug4745]

Hi Simple Men. I would recommend you seek advice from a lawyer here in Portugal as this is an immigration question rather than a tax/financial planning issue. Good luck with your move here to Portugal. Best wishes, Mark

[@mnfoffical9921]

Hi Mark, you did great job , I am from pakistan and want to move Europe, my elder brother and his family settled in the UK and got British passport, what would you suggest me for getting D7 visa through my brother,is he need to settle or do start business or job in Portugal than can he invite me for D7 visa ,hope you will understand my questuon thanks .

[@taxfinancialadviceinportug4745]

Hi Anjum. Thank you very much. This is a good question, but I do not think you can come because of your brother. This is a question for a lawyer here, as it is not something I know a lot about. I am a financial and tax adviser, rather than legal adviser. I'm sorry I cannot be of more help, and if you need any names of lawyers to speak to, I can send them to you. Best wishes. Mark

[@billobrian2249]

I understand that if I obtain a D7 visa I must become tax resident in Portugal. Do my wife and daughter also have to become tax resident, or can they remain in the UK?

[@taxfinancialadviceinportug4745]

Hi Bill. Thank you for your comment and I'm really sorry for the delay in replying but I've been on vacation for the past couple of weeks. You are correct in that you would have to become tax resident here, but there is no requirement for your wife and daughter to become tax resident here (assuming they spend less than 183 days here). However, if your wife and daughter remain UK tax resident, it will have an impact on you in relation to the maximum days you are allowed to spend back in the UK under the Statutory Residence Test 2013. If you would like to talk through your situation in more detail, I would be happy to help. Best wishes. Mark

[@irfanvlog27]

@@taxfinancialadviceinportug4745 hi I'm living in ireland I'm trading in binance bitcoin... etc I'm making good money like more than required for d7 visa can I apply d7 visa for trading income? Thanks

[@geminiwanderer2209]

Hi Mark ,im a Malaysian and Philippines same sex Couple , not married , Ive a investment Property in Philippines with rental income almost Euro 1100/month . Will it be possible for us to apply for D7 visa ? My nearest Portugal embassy is in Thailand. Due to the pandemic and travel restriction would it be possible to apply now ?

[@taxfinancialadviceinportug4745]

Hi Gemini Wanderer. Yes, I believe you meet the minimum income requirement and people are still applying for the D7 visa during the pandemic, although things may be taking longer. Good luck in making your move here. My partner's family are from Siquijor :-)

[@injuredbird3557]

Hello, I would liketo know what is your consultation fee ? I am Canadian and I am interested into moving to Europe, ideally to Portugal Please advice Thank you Sam

[@taxfinancialadviceinportug4745]

Hi Sam. Thank you for your question. There is no initial consultation fee. We generally would have a free initial call and see how we can help and if so what the fee would be. If I am not the best person to help you, I can refer you on to the most appropriate person. Best wishes. Mark

[@injuredbird3557]

@@taxfinancialadviceinportug4745 thank you for getting back to me, I am interested definitely can we set up a consultation please.

[@taxfinancialadviceinportug4745]

@@injuredbird3557 Of course, if you email me at [e-mail] we can set up an initial call. I look forward to talking with you soon. Kind regards. Mark

[@subashs6944]

What is minimum age for d7 visa. If i have income from outside of portugal do i have to pay tax on that? Im 49 and my income is from trading stock options in India currently and will be trading stock options with US broker in the near future.

[@taxfinancialadviceinportug4745]

Hi Subash. I believe the minimum age is 18 i.e. the age of majority. Yes, you would have to pay tax here if you are applying for the D7 visa, but you can also apply for the 10 year tax incentivised scheme called Non Habitual Residence - I've done separate videos about this. Best wishes. Mark

[@MuhammadWaqas-fq1ct]

Interested portugal Type D2 kindly let me know

[@taxfinancialadviceinportug4745]

Hi Muhammad. I would speak with a Portuguese lawyer as this is their area of expertise. Best wishes. Mark

[@garycroft8213]

Great video - UK citizen here, post-Brexit looking at options and D7 looks like the best option now for a move to Portugal. Will you be doing any content on Capital Gains taxes particularly UK ISA treatment which would be one way to obtain D7 VISA. If Portugal is just taxing the gain as ISA is drawn down as income that isn't too much of an issue - although I understand that is at 28%. We are possibly looking to semi-retire pre-55 and the logistics of pension access are also a concern as the 25% tax free wouldn't be tax free in Portugal. We would therefore potentially delay taking this until we could change our residence back to the UK for a year or so. We intend to keep 2 homes in both countries- which I think is fairly common. Another aspect is we may work back in the UK for a bit of income and I think D7 permits that and remote working. Long term path to citizenship really appeals, and may help our kids too.

[@taxfinancialadviceinportug4745]

Hi Gary. Thank you for your comment and nice words. Yes, I am planning to do a new series of videos and articles which will cover in detail a lot of the areas you may be interested in. If you would like me to add you to my company newsletter, you can send me your email address to [e-mail] - or you can simply subscribe/keep an eye out on this channel and I will release further information as soon as possible. To answer your questions though: 1. on the ISA, there are ISA equivalents here in Europe and Portugal so you should investigate (as a general rule) those rather than keep the ISA in place. 2. you raise a good point on the pension and (again a general rule), but the idea would be to utilise and TFC before leaving the UK because it is taxable here as you already appreciate. Resuming UK residence for a short period will not work due to anti-avoidance provisions in the UK legislation. Good luck with your relocation to Portugal. Best wishes. Mark

[@garycroft8213]

@@taxfinancialadviceinportug4745 thanks Mark I'll drop an email to subscribe. I'm a bit torn as to whether to wait until 55 to make a move, I could probably semi-retire at 50 (in about 7 years) - at that point hopefully our eldest would be at University and our youngest would be approaching college - setting them up for a possibility of Portuguese life experience is something that appeals. I doubt we'd totally divide from the UK and will be keeping a 2nd home (that will become sole UK home) and as such we could divide time across the two countries. I understand initially D7 its 6 months plus in Portugal but once resident/citizen you are free to do what you like?

[@taxfinancialadviceinportug4745]

@@garycroft8213 Hi Gary, I've just replied to your email - please let me know if you do not received. All the best. Mark

[@garycroft8213]

@@taxfinancialadviceinportug4745 thanks Mark, yes recieved your email, Sorry for the delay responding been away for half term.

[@taxfinancialadviceinportug4745]

@@garycroft8213 No problem Gary - hope you had a good break

[@wepeople1444]

Hello sir i from Nepal. I am an entrepreneur . I visited many times in europe. Again i am coming in europe on type C visa so can i apply D-2 visa when i come in Portugal?

[@taxfinancialadviceinportug4745]

Hi We people. I am sorry for the delay in replying. I am not a lawyer so am not an expert on each visa, my expertise is in tax and financial planning so I would suggest you speak with a lawyer about this. I am sorry I can't be of any help on this occasion. Best wishes and good luck in your move to Portugal. Mark