Portugal's appeal extends far beyond its renowned beaches, pleasant weather, friendly populace, and enviable quality of life. In recent years, the country has emerged as a hotspot for startups and tech ventures, offering a fertile ground for innovative ideas to flourish.
This vibrant ecosystem has positioned Portugal as an ideal destination for aspiring entrepreneurs seeking to realize their business ambitions. At the heart of this allure is the Portugal Startup Visa, also known as the D2 Visa. Tailored for non-EU entrepreneurs eager to make Portugal their home, this residence visa opens doors to a plethora of opportunities in the country's business landscape.
Recognized by various names such as the Entrepreneur Visa Portugal, Start-Up Visa, and Freelancer Visa, the D2 Visa caters to individuals looking to establish or expand their businesses in Portugal.
Securing the Portugal D2 Visa brings a host of benefits, including a residence permit in Portugal and visa exemption within Schengen countries.
However, navigating the requirements and application process for this visa can be daunting. To simplify this process, we've curated a comprehensive guide that outlines all the essential information you need to successfully obtain your D2 Visa for Portugal.
Here's what we'll cover bellow:
- Portugal Startup Visa requirements
- Portugal Startup Visa benefits
- The application process
- Portugal startup visa cost, and more!
What is the Portugal Startup Visa?
The Portugal Immigrant Entrepreneur Visa, also known as the D2 Visa, allows applicants to apply directly for residency in Portugal. Unlike the D7 Visa, which requires obtaining a special-purpose residence permit from the Portuguese Consulate in the applicant's home country, the D2 Visa application can be made within Portugal.
With a D2 Visa, individuals are granted a four-month stay in Portugal, during which they must schedule an appointment with AIMA (former SEF, Serviço de Estrangeiros e Fronteiras) to obtain a valid Portuguese residence permit.
The D2 Visa is open to various categories of individuals, including entrepreneurs looking to establish a business venture in Portugal, individuals who already operate a business in their home country and wish to expand to Portugal, and self-employed professionals such as freelancers, independent contractors, and digital nomads.
To be eligible for the D2 Visa, applicants must provide evidence of a work contract or written work proposal demonstrating the value and relevance of their services to Portugal.
It’s important that the Portuguese business venture is creating qualified employment that benefits the Portuguese economy. Foreign investors will have access to Portuguese and European markets and will join a host of other foreign entrepreneurs who want to realize the market potential for their Portuguese venture.
What’s more, foreign investors looking for permanent residence can also include their family and financially dependent parents on the application.
Portugal D2 Visa Types
The Portugal D2 Visa has two distinct categories. The first one is the entrepreneur route, which is suitable for individuals who intend to establish a new business or expand an existing business in Portugal.
The second category, known as the independent service provider route, is aimed at individuals, such as freelancers, offering services to local or global clients.
Below, we’ll give you a detailed breakdown of each of these categories.
Entrepreneur route
To qualify for the D2 Entrepreneur Visa Portugal, the following requirements must be met:
- Obtaining a NIF (Portuguese tax number)
- Opening a business bank account in a Portuguese bank
- Establishing a Portuguese limited company (LDA)
- Employing an accountant well-versed in the Portuguese tax system
Additionally, it is necessary to demonstrate sufficient financial means to initiate and manage the company, which includes fulfilling obligations such as paying annual corporation tax and social security contributions.
Entrepreneurs may be considered for the Portugal Entrepreneur Visa under several conditions, such as:
- The acquisition of a Portuguese company
- Having a pre-existing company abroad
- Intending to open a branch in Portugal or proposing a detailed business plan for a new company in Portugal.
The applicant must demonstrate their business’s potential economic and social contributions to Portugal.
Independent service provider route
This route has fewer requirements compared to the entrepreneur route.
Here are the key aspects of the D2 Freelancer Visa:
- Obtaining a NIF
- Opening a bank account in Portugal
- Demonstrating the existence of a self-employment agreement, or promise of a self-employment agreement, with a Portuguese-based company.
If the services provided by your company are delivered remotely to clients located outside Portugal, it is worth considering alternative visa options such as the D7 “Passive Income” Visa or the D8 “Digital Nomad Visa”. These options might be more suitable in such cases.
Benefits of the Portugal Startup Visa
The Startup Portugal program incentives are great, and the D2 Visa has many benefits, some of which we’ll outline for you below.
Portugal residency with relatively low costs
One huge benefit of the D2 visa is its relatively low upfront cost. To apply for a start-up visa, applicants are required to demonstrate possession of a minimum amount of €10,640 for the main applicant plus €5,320 for the spouse and €3,192 per dependent child. This covers the expenses for one year of residence in Portugal. The start-up visa program itself does not require any specific investment amount.
In comparison, obtaining a Portugal Golden Visa means making a minimum investment of €250,000.
Moving to Portugal
The Startup Visa gives people the opportunity to reside in Portugal, a safe country that ranks sixth on the Global Peace Index. It is also renowned for its pleasant climate, scenic landscapes, and exceptional quality of life. To maintain residency, it is necessary to spend a continuous period of six months or a cumulative total of eight months annually in Portugal.
Visa-free travel to the Schengen Area
The Schengen Area is a region in Europe consisting of 27 countries that have abolished internal border controls and established a common visa policy. It facilitates the free movement of people, allowing citizens from member states to travel within the area without passport checks.
The Schengen Agreement, signed in 1985, aimed to promote economic integration and enhance cooperation among participating countries. The area covers most EU member states, including countries like Germany, France, Italy, and Spain, as well as non-EU members like Switzerland, Norway, and Iceland. The Schengen Area has become an essential aspect of travel and commerce within Europe.
Holders of a Portugal residence permit can enjoy the benefit of spending up to 90 days within a 180-day period in other Schengen states without requiring additional visas. This may be of added value for business owners or investors with the potential to conduct business within the EU.
Starting a business venture in Portugal
To get your Portugal Startup Visa, it’s necessary to establish a start-up venture in partnership with a prominent Portuguese business incubator. Collaborating with a Portugal Startup Visa Incubator can greatly facilitate the process of working in a foreign country by offering assistance with paperwork and providing favorable terms for office space, among other benefits.
This collaboration can streamline the business and business operation of a startup business, making it more convenient and easier for aspiring entrepreneurs who are navigating the intricacies of starting a business in Portugal.
Applying for citizenship after five years
After living in Portugal for a duration of five years, expats have the opportunity to apply for permanent residency and obtain Portuguese citizenship. Acquiring Portuguese citizenship grants the privilege of traveling to 174 countries visa-free and the freedom to relocate to other European Union member states.
Most importantly, Portugal recognizes dual citizenship, meaning that applicants are not required to renounce citizenship from any other countries they hold citizenship. This flexibility allows individuals to enjoy the benefits of Portuguese citizenship while retaining their existing citizenship.
It’s worth noting that citizenship usually involves proving Portuguese language proficiency (A2 Level).
Family Reunification
The D2 Visa allows for family reunification in Portugal. This means your dependent family members, including your spouse, children, parents, or dependent siblings, can join you and reside in the country.
Tax optimization
Once an entrepreneur has resided in Portugal for 183 days or more in a given year, they become a tax resident and become eligible for a beneficial tax status known as the Non-habitual Resident (NHR) scheme. Under this scheme, individuals are exempt from paying taxes on income earned abroad if it is already taxed in a country that has a double tax agreement with Portugal.
This NHR status can be maintained for a period of ten years, offering entrepreneurs the advantage of reduced tax obligations and encouraging international tax optimization within the framework of established agreements between countries.
NHR Update
Portugal Startup Visa Requirements for Applicants
There are a number of requirements for eligible applicants that have to be met. Conditions also apply to any dependents you may have and want to include in your D2 Visa application. In the section below you’ll learn more about the requirements for applicants.
D2 Visa application for the entrepreneur
- Over 18 years old
- Not a permanent resident or citizen of the EU
- Enough money to live in Portugal for a year (€10,640 for the main applicant, plus additional funds for any dependents)
- Valid health insurance
- Clean criminal record
- Up to five business partners in the application
Requirements for the spouse of the main applicant
- In an officially recognized marriage or civil partnership with the investor
- Clean criminal record
- Main applicant must provide €5,320 for the spouse
Children under 18 years
- Can be included in the application without any requirements
- Main applicant must provide €3,192 for every dependent child
Children over 18 years
- Unmarried
- Financially dependent on the applicant
- They have to study in Portugal
Parents of investor
- Financially dependent on the main applicant
Portugal Startup Visa Costs
The main condition for being eligible for the Startup Visa is that the applicant will open a company in Portugal, together with an accredited business incubator. Although the total costs, including the investment, may vary from applicant to applicant, there are some general costs to bear in mind when considering your application for the Startup Visa.
Opening a company
There is no set investment amount. The applicant is investing money into the set up of a business venture project, transfers their business to Portugal, or finds a new venture.
Living in Portugal
The applicant has to prove that they have enough money to sustain themselves for a year in Portugal. The legal amount necessary is €10,640 for the main applicant and €5,320 for the spouse. If the applicant has children, then an additional €3,192 per child is needed. In addition to this, the applicant has to either rent or buy a property in Portugal for registration purposes.
Government fees
The Portuguese government charges €90 per person for a D2 visa and €85.05 for a residence permit.
Additional costs to consider
The investor needs to cover costs such as any legal services they use and also needs to pay for a visit to Portugal’s immigration service. What’s more, the applicant needs valid health insurance, which gives access to Portugal’s private health care. Costs of healthcare plans vary from person to person, but generally speaking, private health insurance in Portugal starts from around €400 but can go up to €1,000 per person per year.
Which company may be suitable for a Startup Visa?
To qualify for a Startup Visa in Portugal, individuals have the option to establish a new company or transfer their existing business venture to the country. It’s mandatory to collaborate with a Portuguese business incubator. Certain requirements are necessary for those projects:
- The project can be at the idea stage, but it must include a comprehensive and detailed business plan presentation and financial objectives.
- The company must have a focus on innovation and technology.
- The company should demonstrate a commitment to entering international markets.
- There should be potential for the creation of jobs for highly qualified professionals.
- The company must exhibit the potential to achieve an annual turnover or asset value of at least €325,000 after a five-year period.
The business venture plan undergoes evaluation by both the incubator and the IAPMEI (Portuguese Agency for Competitiveness and Innovation). If the business idea receives approval from the program, you can complete your application and submit it to the StartUp Visa Platform.
Differences Between the Startup Visa and the Golden Visa
Portugal’s Golden Visa has been a popular choice for many expats to gain residency in Portugal. However, the Portuguese government announced in February 2023 
that the Portugal Golden Visa would be coming to an end or changing its format, potentially eliminating the real estate investment option.
With the end of this current format imminent, a quick comparison of the D2 and the Golden Visa may be helpful for potential business investors.
To qualify for the Portugal Golden Visa, investors had the option to purchase real estate, securities, or other assets. The program requirements vary from those of the startup visa. For instance, the investment amount for the most popular Golden Visa options is €500,000. Investors are not obligated to start a business, and they have the flexibility to include their family members in the initial visa application.
The table below gives a comprehensive outline of the main differences between the two visas:
| Terms | Startup Visa | Golden Visa |
| Minimum Investment amount | Not defined | €250,000 |
| Obtaining period | Three to four months | Eight to ten months |
| Residence requirements | Six plus months a year | Seven days a year |
| Investment retention period | Five years plus | Five years plus |
| Family inclusion | Spouse, children (under the age of 18), parents. Children over the age of 18 can only be included if they study in Portugal | Spouse, children under 26 years of age, parents |
| Government fee for residence permit card | €156 per person | €5,340 per person |
From the above, it is evident that the D2 visa may be a more affordable option for many entrepreneurs.
Step-By-Step Procedure for Obtaining a Portugal Startup Visa
In the section below, we will give you a step-by-step procedure for getting your Portugal Startup Visa.
Preliminary due diligence
We’d strongly recommend that you get the help of a qualified consulting firm that can ensure everything during the application process runs smoothly. Before an entrepreneur finalizes a contract with an immigrant consulting firm, a certified anti-money laundering officer will conduct preliminary due diligence. This process helps identify potential difficulties and increases the investor's chances of obtaining a Portugal Startup Visa.
Gathering the documents
Applicants are responsible for preparing their business plans, motivation letters, and CVs. They also need to get police clearance certificates and provide bank statements confirming their financial resources to sustain themselves in Portugal. The applicant's consulting firm can assist with this in obtaining tax and social security numbers in Portugal and gathering all the necessary documents for the visa application.
Getting your NIF number
The first thing you should do when embarking on the Portugal Startup Visa program and even before you begin your Startup Visa application is to get your NIF number (Número de Identificação Fiscal). The NIF number is your tax contribution number and you’ll need this for your new Portuguese venture.
It’s easy to obtain and you don’t even have to visit Portugal. In fact, an agent can get your NIF number and your bank account for you. Our colleagues at GetNIF have the experience and knowledge to handle these transactions for you, so book a call with us to see how we can assist you.
Getting a Portuguese bank account
The Startup Visa Portugal also requires that you set up a bank account; in fact, this is one of the first things you should do. A Portuguese bank account is relatively easy and straightforward to set up, probably one of the easiest things to do in the Portugal Startup Visa program.
Of course, you’ll also need a bank account for your Portuguese business venture, which will get you a Portugal residence permit and, eventually permanent residence.
Applying to IAPMEI
The application, along with the project description and supporting documents, is submitted IAPMEI's online platform.
Finding a business incubator
To secure the visa, the entrepreneur must find a business incubator willing to develop their project. This involves contacting multiple incubators and undergoing interviews. Once an incubator approves the project, the consulting firm will assist in completing the application form on the IAPMEI website. The application then proceeds to the final stage and awaits approval.
Finding a business incubator needs a bit of planning, research, and pitching your new Portuguese venture, which could lead to a residence permit and permanent residency. A business incubator is an important part of your Startup Visa application, so make sure you spend some time on your application. The Startup incubator will support your innovative business venture application. You can find more information on the Startup Visa platform.
Consideration of the application
The IAPMEI reviews the application for a period of 30 days. The applicant can track the progress of their application through their account on the IAPMEI website.
Getting the visa
Upon approval, IAPMEI issues a declaration of participation in the startup visa program to the applicant. This declaration remains valid for four months. During this period, the applicant must apply for a visa at the Portuguese consulate in their country of residence and subsequently visit the AIMA office on the appointed date.
Alternatively, the applicant may enter Portugal with a Schengen visa and promptly submit the required documents to AIMA.
Applying for a residence permit
Working with an immigration lawyer can make this process easier. To apply for a residence permit, the applicant’s lawyers can arrange an appointment with AIMA, the Portuguese immigration agency, for the investor for them to submit the necessary documents.
Getting a residence permit card
Upon approval of the application, AIMA issues a residence permit card and sends it to the investor's address in Portugal. The initial residency card has a validity of two years and can be renewed for an additional three years. Once five years of continuous residency have been completed, the investor becomes eligible to apply for permanent residence or citizenship in Portugal.
In Summary: The Portugal Startup Visa
The Portugal Startup Visa is a great way for entrepreneurs who are not residents of the EU to start their business in Portugal and therefore gain access to not only Portugal but the rest of the EU and Schengen area.
The Startup Visa is a relatively affordable and straightforward visa for entrepreneurs to obtain and has the additional benefit of including dependents on the application.
If you want to find out more about this visa and your potential eligibility, contact GetNIF and book a non-committal call with us to explore your options.
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Frequently Asked Questions about the Portugal Startup Visa
How do I get a Startup Visa for Portugal?
To get your Startup Visa for Portugal, you must meet the requirements for eligibility, such as being a non-EU citizen, having a suitable business idea and plan, having enough money to sustain yourself and your dependents, having a clean criminal record, and having valid health insurance.
Can a US citizen start a business in Portugal?
Can a US citizen start a business in Portugal?Yes, US citizens can start a business in Portugal, provided they meet the requirements to apply for the D2 Visa or secure residency through another residency scheme.
How long does it take to get a Startup Visa in Portugal?
The whole application process takes between three to four months, depending on individual circumstances and how long it takes you or your agency to collect all necessary documents.
What is a Startup Visa in Portugal?
The Portugal Sartup, or the immigrant Entrepreneur Visa, is aimed at non-EU individuals who intend to establish a business in Portugal or move there to run an already existing business in the country.
What are the benefits of the Startup Visa Portugal?
The Portugal Startup Visa offers several benefits. It doesn’t require a large investment or proof of passive income, making it a popular choice for entrepreneurs and company owners. It is a pathway to permanent residency and even Portuguese citizenship after five years.
Does the Startup Visa lead to permanent residency in Portugal?
Yes. After five years of legal residency in Portugal through the Startup Visa, you may be eligible to acquire a permanent residence permit and Portuguese citizenship. Acquiring citizenship usually involves proving that you have a basic Portuguese language proficiency (A2 level).
