Business Visa to Portugal
Portugal can be the best country for your business. Enjoy the favorable Portuguese environment to make your business thrive.
With the D2 Visa you will be able to develop your business and even apply for the Portuguese nationality in five years.
The D2 Visa to Portugal
Designed for entrepreneurs who want to start a business, engage in independent professional activity, or invest in Portugal, offering them the opportunity to reside and work in the country.
Why the D2 Visa?
Listed below are the documents we will assist you in acquiring:
A valid travel document issued by your home country, confirming your identity and nationality. It must have a validity period extending beyond the duration of your intended stay in Portugal for the D8 Digital Nomad Visa.
An official document showing your current residential address, such as a recent utility bill, bank statement, or a lease agreement, to verify your place of residence before moving to Portugal for the D8 Digital Nomad Visa.
A unique identification number issued by Portugal’s tax authorities, necessary for various transactions in Portugal, including opening a bank account, signing a lease, and conducting other financial activities as part of the D8 Digital Nomad Visa application process.
An active bank account opened in Portugal, often required to manage financial transactions within the country. For the D8 Digital Nomad Visa, this account is used to demonstrate financial stability and the ability to support oneself while residing in Portugal.
Establishing a Portuguese company involves setting up a legal entity in Portugal to manage and grow business operations within the country.
Your business should not only be established but also demonstrate significant value or potential to contribute positively to Portugal’s economy.
A formal written statement prepared by the applicant for the D8 Digital Nomad Visa, outlining the reasons for seeking residency in Portugal, the nature of their remote work, and how they plan to support themselves financially while living in Portugal. This letter should also align with the visa requirements, demonstrating the applicant’s commitment to adhering to the stipulations of the D8 visa.
A document or official report issued by Portuguese authorities, indicating whether the applicant has any criminal records in Portugal. For the D8 Digital Nomad Visa, this serves as proof of the applicant’s good standing with the law within Portugal, ensuring they meet the character requirements for residency.
An official document from the applicant’s home country (or any country where they have resided for over a year) that certifies their criminal record status. For the D8 Digital Nomad Visa to Portugal, this certificate is necessary to demonstrate that the applicant has no legal issues or criminal history in their country of origin or previous residences, affirming their suitability for residency in Portugal.
A document confirming your living arrangements in Portugal, which is a key requirement for the D8 Digital Nomad Visa. This can be a lease agreement, ideally for a duration of at least one year, or documentation proving property acquisition in Portugal. This evidence ensures you have a stable and secure place to reside during your stay in the country.
How Can We Help You?
The initial step in the process and is crucial for proceeding further. This stage involves applying for a Número de Identificação Fiscal (NIF), which is essential for financial and legal activities in Portugal.
The subsequent essential step in your journey after obtaining your NIF. This phase involves setting up a Portuguese bank account, a fundamental requirement for managing your financial transactions in Portugal.
Following the bank account creation, the next critical phase in establishing your presence in Portugal is the incorporation of your company. This process entails registering your business with the appropriate Portuguese authorities, a key step in legally formalizing your commercial activities in Portugal.
A crucial phase in establishing your presence in Portugal. We collaborate closely with trusted real estate agents and landlords across Portugal to ensure a broad selection of properties that cater to your preferences and needs.
Our team conducts a thorough review of all the necessary documents to ensure they meet the stringent requirements for a successful visa application. We go beyond mere review; our services include drafting the Letter of Intent, guidance through the procedure for obtaining the local Criminal Record Certificate, and more.
Frequently Asked Questions
Choosing a business is complex, no matter where you’re planning to undertake. Portugal is no exception.
But, of course, some activities can help you in this challenging task, such as:
- Getting to know your audience. Depending on where you plan to undertake, different types of customers will be your focus, and you should consider this situation.
- If you are unfamiliar with the location where you intend to undertake, consider hiring professionals to do marketing research so that you have data to decide whether the venture is viable.
- Consider developing in an area where you have the expertise, even if it’s not essential to the business’s success.
- Building a Business Plan is extremely important. When you put your thoughts on paper, you can see the “big picture” and make better choices.
- Knowing the local rules related to business, as you can be punished for not following local procedures and even having your business ruined.
If you need guidance on developing a business in Portugal, whether by building a Business Plan, creating your company, or any other related task, Viv Europe can help you manage these activities.
There is no way we can ensure that your business will succeed, no matter where it is developed.
But you can certainly increase the chances of a success by doing some simple activities:
- Following the steps mentioned at the previous answer.
- Taking your time to develop a well-structured Business Plan. Many people say that the secret of success is not so much related to the idea itself, but in how it is put into practice.
- Considering searching for expert advice. In this first phase of the business, this will be a very important task.
If the country where you plan to develop your country is “business-friendly”, the chances of a successful business increase. This is the case in Portugal.
Yes, if you’re not an EU citizen, you’ll need to apply for the D2 Visa, also known as the Portuguese business visa.
It’s important to emphasize that the initial activities to develop the business, such as the creation of the business plan, the incorporation of the company, and the opening of the bank account, must be carried out before the visa application.
Therefore, you will need a representative in Portugal to manage these tasks before starting the process.
To learn about the D2 Visa, we strongly suggest reading our article: “All About Starting a Business in Portugal and Obtaining a D2 Visa“.
It’s hard to point out the most relevant documents for the D2 Visa application.
Those mentioned below are certainly important and must be obtained before the application:
- Shareholder’s Tax Number (NIF)
- Shareholder’s Social Security number
- Well-structured Business Plan
- Incorporated Portuguese company
- Portuguese bank account
- Company’s registry number
These are some documents that will be requested for your application.
There are some obligations that the entrepreneur must carry out before starting a business in Portugal; some of them are:
- Creating a Portuguese company
- Creating a personal and company’s bank account
- Transferring the share capital
- Hiring a local accountant
- Paying Social Security as a manager
- Dealing with the Corporate Income Tax annually
- Paying employees salaries
All of these costs can impact the business treasury, so be aware.
Creating a company is not an easy task.
Some business information is very relevant in this field and can influence the business and shareholders’ obligations, such as:
- The extent of shareholder’s liability
- The approvals that are required to conduct business
- The obligations related to the company itself
- The accounting obligations
Below, you can find some information that needs to be addressed in the Social Pact for the creation of a company in Portugal:
- Company’s name
- Social capital value
- Social capital shares
- Company’s object
- Shareholders’ obligations
The brand must be registered at the National Institute of Industrial Property (INPI).
A lawyer or solicitor must initiate this procedure.
After the approval of this process, the company can use its brand without breaking any laws.
But remember that this is not a mandatory procedure, not even to apply for a Business Visa.
Renting (or acquiring) a place is needed as you’ll need to appoint the company’s headquarter.
You’ll need to provide an address even if you have a digital business.
Many obligations may arise depending on where the business is located (such as inside a shopping center, in a public space, etc.).
Also, your Rental Agreement needs to be carefully analyzed to avoid the need to pay extra costs.
Therefore, the obligations related to where the business is located can vary greatly.
As a rule, payment of condominium, water, gas, and energy expenses are mandatory.
If you want more information about expenses related to a property, check out our article: “Complete Guide to Real Estate Market in Portugal.”
Hiring employees is one of the most critical tasks for the business’s success.
Also, there are many online solutions if you want to do this task yourself. Recruitee is one of them.
To give you a hint, here are the most relevant costs related to the staff for the employer:
- 14x Salaries per year
- Social Security (11%)
- Employees vacation period
- Food voucher
- Transportation voucher
An accountant must conduct the hiring procedure.
The development of a business in a country member of the European Union can be a big deal if you intend to expand its activities to other countries in Europe.
Therefore, buying and selling products within EU countries can be easier, as in most cases, no bureaucracy or tax-related costs will be considered.
That’s why importing beer from Germany or bringing cheese from Italy can become manageable.
You may face some struggles during this process, such as dealing with the language barrier, but the willingness to overcome them depends on your willpower.
Let’s face it; a Business Visa isn’t the cheapest way to obtain the Portuguese Residence Permit.
Those who apply for this visa are not so concerned with the cost of the procedure but with the chances for the business to succeed.
See below the approximate costs you’ll have to face if you decide to go for this route:
- Create a company in Portugal – from 220€ to 400€
- Funds to be transferred to your personal Portuguese bank account – around 8,500€
- Hire an accountant – 150 to 250€/monthly
- Pay company’s Social Security – around 250€/monthly
- Hire the assistance firm to apply for the D2 Visa – can vary
- Rent the business address – can vary
- Costs related to the development of the business – can vary
- Employee costs – can vary
- Public agencies fees to start the business – around 400€
Yes, there are some costs related to the development of the business. Still, depending on how you manage the company, the return on investment can be exciting, not to mention that in the end, you will receive your Portuguese Residence Permit.
As you may already know, Portugal is a very bureaucratic country; therefore, you may face difficulty complying with some procedures.
To create a company remotely you may need to come to Portugal, as your lawyer or solicitor must recognize your signatures in person, as stated in the law.
It is a pity that professionals have not been able to recognize signatures remotely until now.
In addition, opening your company’s bank account without being in Portugal can be a significant challenge.
Last but not least, developing a business in another country is always a big deal, so be prepared to gather as much information as possible to get started with this process.