October 19, 2020 - Comments Off on Residency for holders of Passive Income

Residency for holders of Passive Income

For many years now that Portugal has implemented friendly immigration policies, granting residency rights to Non-Eu/ EEA/Swiss citizens who wish to study, work, trade, invest or enjoy retirement in Portugal.

On this topic, one option for Non-Eu/ EEA/Swiss citizens who wish to relocate into Portugal is to show sufficient and regular net passive income (pension, rental, interest, dividend or intellectual property income). This way of residency is commonly referred to as “D7 Visa” or “Passive Income Visa”.

Unlike the other ways of residency referred above, this is the only option in which the Applicant does not have to create, beforehand and within Portugal, the necessary conditions for the residency permit to be granted – it does not require a prior enrolment, employment, company incorporation or capital/property investment. The fact that the
Applicant holds in his country regular passive income of a certain amount is sufficient
to entitle him/her to residency in Portugal.

The application for this way of residency starts with an application at the Embassy/Consulate where the Applicant has residency, which will result in a residency
visa. Under this visa, the Applicant will then have to come to Portugal to switch his/her
visa for a Residency Permit, which will initially be granted for 2 years, with the
possibility of renewal within the same passive income requirements.

The “Passive Income Visa” offers the same social and professional benefits to its
holders as the Portuguese citizens enjoy, such as family reunion, visa-free entry and
circulation within the Schengen Area, free healthcare and education, the freedom to
study and work in Portugal, protection in unemployment and applying for the Non-
Habitual Resident tax benefits regime.

October 2020