A secure, safe, affordable country with a high quality of life, superb climate and good health and education systems, it is no wonder Portugal remains a popular destination to relocate to. However, as of January 2022 it will no longer be possible to obtain the Golden Visa. With only two months left for investors to seize this opportunity to qualify for permanent residency and Portuguese citizenship after 5 years, are there any alternatives?

D7 Visa verses the Golden Visa

Both the Golden Visa and the D7 Visa allow you to live in Portugal, travel within the Schengen area and apply for the Non-Habitual Residency (NHR) tax regime. They also both allow you to qualify for permanent residency and Portuguese citizenship after 5 years.

The Golden Visa is a highly sought after visa and residency permit given to those that invest in Portugal. The most popular route to obtain this visa is to buy an eligible property in Portugal between €350,000 and €500,000.

Essentially, the Golden Visa is aimed at those that a looking for a pathway to permanent residency and Portuguese citizenship but do not intend to spend the majority of their time in Portugal. If your current plans are to work in another country, or to travel for most of the year, this could be the right visa for you whilst providing an 'EU Passport'. On the other hand, the D7 Visa is aimed at those that are self-sufficient and have their own income, particularly passive. The 'passive income visa' or 'retirement visa' as it is also known, is eligible to those that have an income equal to or greater than the Portuguese monthly minimum wage, approximately €800 per month. Acceptable income sources include rental from properties, dividends, or a salary from working remotely online. A retiree’s pension would also qualify for this as it is seen as a stable, regular source of income.

The D7 requires you to live in Portugal for the majority of the year and be a tax resident here. There is not the same flexibility as the Golden Visa.

If you are still deciding whether to relocate to Portugal bear in mind that with the Golden Visa one is only required to spend 14 days in Portugal every two years whereas with the D7 visa it is required to permanently relocate to Portugal.

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