The Portugal D7 Visa is perhaps best known as the most affordable Portugal retirement visa option of the two. Whereas the Portuguese Golden Visa requires a minimum investment of at least €280,000, there is no investment requirement to qualify for the D7 – although you will be required to have an address in Portugal.
In principle, the D7 Visa program seeks to compete with the Spanish Non-Lucrative Visa, the Greek Financially Independent Person (FIP) Visa and the Italian Elective Residence Visa in luring financially self-sufficient retirees to its shores.
And given its relatively low income and/or savings requirements and fast path to permanent residency and citizenship, and the ability to get a local job in Portugal, it is arguably the most attractive program of its kind in Schengen Europe.
As of May 2022, you will require stable recurring income AND substantial savings to apply for the D7.
NOTE: In the past, applicants have been successful by applying on the basis of significant savings only. However in 2022, you’ll realistically have to have both in order to qualify for this residency visa. We include the breakdown for savings and recurring income below.
|Stable recurring income requirements (2022)
|Additional Minor Dependent
|Additional Adult Dependent
|Family of 4 (2 x Adults, 2 x Dependent Minors)
Given that the Portuguese authorities will wish to know that you can support yourself for the entire 2-year period for which your D7 Visa is issued, they’ll wish to see that you have adequate savings to back up your recurring income. While the minimum required savings requirement is €7,500, there have been instances where applicants were not approved as SEF deemed this amount to be insufficient.
As such, it would be advisable to deposit more than the minimum amount in your local Portuguese bank account (e.g. €12,500+ instead of €7,500, if you’re applying as a single person. Treat the above income figures as the bare minimums also.)
The best part though..?
These programs are open to anyone who can meet the financial requirements – and not just retirees. Consequently, the D7 Visa has, in recent years, garnered increasing levels of interest from younger generations of remote workers and digital nomads hailing from across the globe.