Portugal has turned out to be one of the most appealing long term residence destinations in Europe, which is stable, inexpensive, secure, and has a good gateway to permanent residency and citizenship.There are numerous options available in the country to acquire residency like Portugal golden visa and Portugal D type visas. Out of the various Portugal D visas, there are two programs which are the most notable, these are the Portugal D7 Visa and the Portugal D8 Visa.
Both visas are provided with a right of residency; however, they are focused on different profiles and lifestyle and financial demands. These programs have to be known to global investors prior to any decision being made to gain European residency.
What is the Portugal D7 Visa?
The Portugal D7 Visa which is also referred to as Passive Income or Retirement visa is a visa that was designed to accommodate people earning stable income from outside Portugal. This renders it the best choice of retirees, landlords, investors and remote-income earners.
Pakistani applicants often look to find out Portugal D7 visa requirements for Pakistani, particularly owing to the fact that this visa is one of the least challenging legal ways of attaining EU residency.
Who is the D7 Visa For?
Retirees with pensions.
Proprietors who receive rental income.
Those who have dividends or returns on investments.
Remote income earners who are earning constant monthly wages.
The route is also referred to as Portugal Retirement Visa and the Portugal retirement visa requirements have some criteria.
Portugal D7 Visa Requirements (Including for Pakistani Applicants)
The criteria is congruent to all nationalities, people who are filing the D7 visa from Pakistan or the Middle East must show:
Proof of passive or regular income.
Clean criminal record.
Good health.
Accomodation in Portugal.
Minimum mandated bank balance.
How Much Bank Balance is Required for Portugal D7 Visa?
The D7 Visa applicants should also have a minimum bank balance of 10440 that is equivalent to minimum salary in Portugal during 1 year. The applicants are allowed to add half of this amount so as to include the spouse and one-third of this amount so as to include the dependent children into the application.
Portugal D7 Visa Processing Time
The visa process of D7 to Portugal usually takes between 2-6 months depending on the documents and profile of the applicant. Portugal D7 visa consultants in Dubai or Pakistan usually deal with the applicants to avoid the delays in the documentation.
What is the Portugal D8 Visa?
The D8 visa, also commonly referred to as the Portugal digital nomad visa, is meant to be given to freelancers, remote workers, and entrepreneurs who make active income in other countries. It offers two categories:
Temporary Stay D8 Visa
Residency D8 Visa
The Residency D8 visa is the pathway that leads to long-term residency. Nevertheless, both the options enable the remote workers to live and work in Portugal legally.
Portugal D8 Visa Requirements
In order to be eligible for D8 visa, the applicant should show:
Remote work earnings or freelance earnings.
Evidence of service or contracts to the foreign customers.
Proofs of accommodation in Portugal.
Income 4X of Portugal national wage.
Clean criminal record.
The above requirements are included in the digital nomad visa Portugal conditions, which guarantee that the applicants will be able to sustain themselves without the use of the local employment. The D8 also has the name of Portugal freelance visa among the independent contractors and programmers.
Portugal D8 Visa Processing Time
The general processing time of the D8 visa is between 4-6 months depending on the country of application and documentation.
Minimum Stay Requirements for D8 Visa Portugal
The D8 Visa Portugal minimum stay requirements include spending at least 6 months per year or 8 months at a time in Portugal.
Portugal D7 vs D8 Visa: Which One Leads to Residency?
Both Portugal D visa options include D7 and D8 visas that lead to Portuguese residency but with different requirements and conditions. Both visa options offer different benefits to individuals seeking residency in Portugal.
D7 Visa Advantages
The D7 visa holders can travel to the Schengen zone including all member states without any visa.
It provides a strong path to permanent residency and citizenship in 5 years.
It is highly suitable for retirees and investors.
Individuals benefit from NHR (Non-Habitual Resident) in Portugal.
Individuals can enhance their lifestyle.
D8 Visa Advantages
The D8 digital nomad visa offers visa-free travel to all 29 Schengen countries.
The Portugal D8 visa includes 0% tax on foreign income through NHR (Non-Habitual Tax Regime).
It is highly suitable for remote workers and investors.
It allows family inclusion.
Portugal digital nomad visa holders can apply for Portugal citizenship by naturalization.
Conclusion
To secure Portuguese residency, both D7 and D8 visa options offer numerous advantages but the choice of choosing the visa option depends on the applicant's profile and needs. For individuals with rental income, passive income, dividends and a retiree, Portugal D7 visa is the best option. For individuals who are freelancers, remote workers, or digital nomads, the Portugal D8 visa is the ultimate choice for European residency.