The D7 Visa vs the Golden Visa to Portugal: key differences

Portugal Golden Visa and D7 Visa: an overview

The Portugal Golden Visa is one of the types of residence permits in Portugal. It is granted to foreigners in exchange for investment. They are not required to live in the country continuously but must visit Portugal for at least 7 days each year.

Under this program, there are five investment options: supporting arts and cultural heritage, financing research activities, purchasing investment fund units, opening a company, or investing in an existing one.

The investment amount starts at €250,000.

How to obtain Portugal residency

The D7 Visa, or a Passive Income Visa, is a residency permit for financially independent persons. Foreigners can obtain it if they have a monthly passive income of at least €820. Income can come from dividends, interest, royalties, pensions, and rentals. 

To be eligible for the D7 Visa, the applicant must rent or buy real estate that is large enough to accommodate the main applicant and their family. The minimum cost of a property is not established.

The first residence permit is issued for two years and can be extended if its holder lives in the country for 1.5 years in a row, or 16 months in total during the 2-year period.

Both visas allow their holders to apply for permanent residence or citizenship in Portugal in 5 years. They also grant the right to work in Portugal, access healthcare services across the EU, and travel visa-free within the Schengen Area.

Practical Guide

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Who can get the Golden Visa and the D7 visa to Portugal?

Any foreigner applying for the Golden Visa or the D7 Visa must:

• be over 18;
• have a clean criminal record;
• have no debts in Portugal;
• earn money outside Portugal and prove the legality of income;
• come from a non-EU country.

Both programs allow adding their close family members to the application: a spouse or a civil partner with no convictions, children, and financially dependent parents. 

To be included in the Golden Visa application, children aged between 18 and 26 must be financially dependent on the investor and live with them or study at a university. To participate in the D7 Visa application, an adult child must be under 21, unmarried, and have no job.

The Golden Visa program allows adding siblings, if they are under 26 and in the investor’s custody.

Required documents for obtaining the Portugal Golden Visa and the D7 Visa

The basic list of documents required for both visas is:

• a filled-out application form;
• an international passport;
• two photos;
• health insurance;
• a confirmation of no criminal record;
• a marriage or birth certificate, if applicable;
• a taxpayer number in Portugal;
• receipt of paying an application fee.

Additional documents for the Golden Visa are:

• a declaration confirming compliance with investment requirements;
• a declaration of source of funds;
• a statement from a Portuguese bank account;
• a confirmation of investment

To apply for the D7 Visa, the applicant provides the following:

• a confirmation of the availability of housing in Portugal, for example, a rental agreement;
• a statement from a bank account proving the applicant’s passive income;
• a statement from a Portuguese bank indicating the sufficient funds for living in Portugal.

The recommended bank balance for the D7 Visa is 12 minimum wages in Portugal, which is €9,840. When including a spouse, the amount increases by 50%, that is, by €4,920, and also by 30% for each child, by €2,952. Savings must be kept in the Portuguese bank.

The cost of obtaining the Golden Visa and the D7 Visa: expenses requirements

The Portugal Golden Visa Program has five investment options to choose from. The required sum for the four of them is the following:

• €500,000 — purchase of investment fund units;
• €250,000 — supporting arts and restoring cultural heritage;
• €500,000 — investment in research activities;
• €500,000 — business investment with the creation of at least 5 jobs.

The fifth option requires opening a company in Portugal and creating at least 10 jobs, but the minimum investment is not established.

The required sum of money is flat and doesn’t depend on the family composition.

Individual cost calculation for residence by investment in Portugal

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Under the D7 Visa Program, no investment is required. The applicant must have a passive income of at least €820, which is the minimum salary in Portugal. If the foreigner adds their family members, they must have an additional 50% for a spouse and each parent and 30% for a child.

The applicants also pay application and residence permit issuance fees and buy medical insurance for all family members.

Expenses on obtaining the Golden Visa and the D7 Visa

An application process for getting the D7 Visa in Portugal

In the beginning, the process of obtaining a D7 Visa is quite similar to the application procedure for the Golden Visa. The foreigner passes the preliminary Due Diligence, obtains a taxpayer number and opens a bank account in a Portuguese bank.

Compared to the Golden Visa procedure, the applicant for the D7 Visa rents or buys real estate of any sum. Choosing a property to purchase can take 2—3 months. Renting is faster, and the process can be finished in several days.

Then, the foreigner applies for the D7 Visa, valid for four months, which is later turned into a residence permit. During these four months, the applicant must come to Portugal and apply for a residence permit at the Agency of Integration, Migration and Asylum (AIMA). The process of consideration takes at least 2 weeks. Overall, the D7 Visa is obtained within 4 months.

Individual cost calculation for the Portugal Passive Income D7 Visa

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Permanent residence and citizenship after Portugal D7 Visa and Golden Visa

Holders of both the D7 and the Golden Visas in Portugal can apply for permanent residence or citizenship after five years of being a temporary resident. This type of citizenship is considered citizenship by naturalisation.

However, persons with a Passive Income visa must continuously reside in Portugal. They first get a residence permit for 2 years, which can be extended for 3 years. 

To be eligible for a 3-year residence permit, a foreigner must spend either 1.5 years in a row or 16 months in total during the 2 years in Portugal. The person must live in Portugal for either 2.5 years in a row or 28 months in total during these 3 years to extend their residence permit or turn it into permanent residency or citizenship.

The rules above don’t apply to the Golden Visa. Its holders are required to stay in Portugal for 7 days per year.

To apply for citizenship, both D7 Visa and Golden Visa holders must pass a Portuguese language proficiency exam. 

Differences between the Golden Visa and the D7 Visa in Portugal and which one to choose

The D7 Visa is suitable for people with a passive income outside Portugal, such as rentals, pensions, or dividends. They want to live in a warm and hospitable country near the seashore. While residing in Portugal, travelling within Europe is also relatively simple.

The Golden Visa is a good choice for investors who prefer to live in their own country but get freedom of travel within the Schengen Area. It is also suitable for people with children over 21 but under 26 and siblings that they want to add to the application.

Some differences include taxation, the application process, and required sums of money.

Taxation. The D7 Visa holders must live in Portugal, meaning they become Portuguese tax residents and must pay taxes.

At the same time, Golden Visa holders can choose not to live in the country and, therefore, either become a tax resident or not.

The application process for obtaining the Golden Visa is simpler than for the D7 Visa. Applicants for the D7 Visas must find accommodation and visit Portugal at least two times during the procedure. The Golden Visa applicants come to Portugal only once.

However, getting the D7 Visa is faster. It takes 4 months instead of up to 10. 

The expenses on the Golden Visa Program are much higher than under the D7 Visa Program. The applicant invests at least €250,000 in the Portuguese economy. But it might be possible to get an investment return, for example, when purchasing investment fund units.

The D7 Visa is much more affordable than the Golden Visa. Applicants must have €9,840 per year, which is €820 per month, in their bank account. When including a spouse, the amount increases by 50%, that is, by €4,920, and also by 30% for each child, that is, by €2,952.

Application and other fees are also higher for investors. The Golden Visa applicants pay €582 per person for considering their application and €5,812 per person for the issuance of a residence permit card. The D7 Visa holders spend €90 and €155, respectively.

The Portugal Golden Visa vs the D7 Visa: a comparison

Key takeaways

1. The Golden Visa is designed for investors who are ready to invest at least €250,000 in the Portuguese economy. They are not required to live in the country.
2. The D7 Visa is for people with passive income. To be eligible, they must have a passive income of at least €820 per month. To maintain their status, the D7 Visa holders must live in Portugal.
3. The visas differ in requirements, documents, the application process, and the obtainment time. 
4. A foreigner obtains the D7 Visa and the Golden Visa in 4 months and 10 months, respectively. Under the Golden Visa Program, a foreigner makes an investment but doesn’t prove their monthly income. When it comes to the D7 Visa, it is vice versa.
5. Both visas open a path to Portuguese citizenship in five years.

Frequently asked questions