Thinking of opening a business in Portugal? What you Need to Know

Portugal is considered one of the top destinations for those looking to relocate, offering a desirable lifestyle characterized by charming surroundings, pleasant weather, safety, and welcoming hospitality.

It's no surprise that the number of foreigners interested in moving to Portugal is on the rise. The relaxed way of life, tax advantages, and the opportunity for non-EU citizens to quickly obtain Portuguese citizenship are all contributing factors to the growing number of residency applications each year.

The D2 Visa, also referred to as the entrepreneur's residence visa, is an excellent choice for individuals from non-EU countries who wish to establish a business or practice a liberal profession in Portugal.

According to a study by Forbes, Portugal is considered the best country in the European Union for foreign investors. The tax incentives in Portugal are the main reason for this high ranking, as well as the fact that the country has a strategy in place to combat the issue of an aging population in order to ensure economic stability.

The D2 Visa is targeted towards obtaining a residence permit in Portugal for non-EU Citizens from who are:

• Self-employed - individuals who plan to work in Portugal and already have a job offer or employment contract within a liberal profession;
• Investors (entrepreneurs) - business persons who wish to start or invest in a venture within the country.

The applicant must first obtain a Visa in order to be able to enter Portuguese territory. Once the Visa is granted, the applicant can then apply for the corresponding residence permit. Additionally, the applicant may simultaneously apply for a residence visa for their family members, under the residence permit for family reunion. This means that the applicant's spouse and children can also obtain a residence permit in Portugal.

The D2 Visa is a great opportunity for those who are looking to start their own business in Portugal or work as a liberal professional in the country. The residence permit allows for flexibility in terms of work and travel, and the tax incentives make it an attractive option for entrepreneurs and investors. Furthermore, the option to apply for a residence visa for family members makes it a good option for those who wish to move to Portugal with their family.