Starting a business in Portugal in just 24 hours

The D2 Visa, also known as the Visa for Immigrant Entrepreneurs, grants resident status to immigrants wishing to start a company and invest in Portugal. The legal basis for this type of visa can be found in Article 60 (2) of Law No. 23/2007 of 4 July and regulated by Article 31 (2 and 3) of Regulation No. 84/2007 of 5 November and paragraph 2 of article 89 as amended by Law nº59 / 2017 paragraph 07/21 and the 4th Revision of the Immigration Law applied since August 1, 2017.

In short, the investment must be made in a way that the company to be established has a clear business plan. The plan will be evaluated based on the scale of investment and its relevance to the economy, society, science, technology and culture.

Why choose Portugal?

Forbes said that after the corona virus pandemic, Portugal was one of the best places to live in the world.

Portuguese entrepreneurship allows you to enter the higher-income consumer market-the European Union. Trade and negotiate with 27 other EU countries freely without border bureaucracy, special fees or any other fees. Portugal is actually a gateway to Europe.

Low labor cost

Although Portugal is part of the European Union, it still provides labor at very competitive costs and with good training and experience. The minimum wage is 635 €, reflecting the low cost of living in Portugal.

Low business tax

Real estate income is subject to 10% tax. Certain types of capital gains, such as those generated by commercial stock exchanges, are exempt in certain circumstances. The company tax in Portugal is 21%.

Opportunity

Portugal’s current economy is in full recovery and full of opportunity. Market areas with improved performance are food, hotels, tourism, automobiles, information technology, real estate, chemical industry and commerce. The Portuguese government provides various incentives for start-ups, and has formulated a number of policies to assist business development.

TOP INFRASTRUCTURES

Portugal has completed 100% of its TEN-T Core Road Network plan. Portugal’s roads are classified as one of the best infrastructures in the European Union. The same applies to airports, railways and ports.

Safe country

Compared with other EU countries, Portugal is a very safe country. The environment is friendly and foreigners are welcome. The crime rate is low and the safety of children and women is high.

Steps to obtain residence in Portugal

On Demand International provides assistance from start to finish for your D2 Visa Residency process. Our advice is customized and in the smallest details.

Ensure the TIN and social security number

Within several necessary documents, here are the essential ones to initiate your process; application form; copy of passport, proof of address, criminal record, proof of means of subsistence, business plan, financial plan and proof of investment capacity.

Waiting Time: The process will be divided into 3 phases, the first (D2 Visa Process), the second (Opening a company and other documents) and the third and last (Residence permit application). Due to the large number of applications, the immigration service in Portugal may take around 12 months to be accepted.

Opening of Personal, Corporate and Investment Account

The documents for opening accounts are as follows; the TIN (or proof of order or document), passport, work declaration, proof of address, IRS or salary receipts and CPF number.

Waiting Time: On Demand International assists the entire process of creating accounts from start to finish. The opening process will take just 7 days from the date of signing the contract and delivery of the documents to the bank branch.

For your safety, On Demand International informs you that it does not open accounts on behalf of the client, does not sign documents, does not participate in account management and does not have access to any channel, data or information on the client’s account, therefore, the opening is total secrecy between bank branch and client.

Opening a Company in Portugal

The required documents are; the TIN (or proof of order or document), copy of the passport (of all partners), proof of address of the company’s headquarters, Power of Attorney for the purpose of starting a company signed by all partners, value of the share capital that will be used and chosen name of the company name.

Waiting Time:: On Demand International establishes your company within 2 working days.

PREPARING DOSSIER FOR RESIDENCE PERMIT APPLICATION

As soon as the requested documents are delivered and the company is properly constituted, our team will gather all the elements for issuing / attaching them to the Foreigners and Border Service platform.

Waiting Time: The deadline for delivery and issuance of documents to request a residence permit is 20 working days.

SEF REPRESENTATION AND FOLLOW-UP

On the day of the appointment you can have the assistance of one of our lawyers to help you understand the process and present all the elements.

Waiting Time: After the interview and biometric data collection, you will have to wait 60 working days to receive the residence permit by CTT at the indicated residence address. The residence permit will be valid for 2 years and renewed for another 3 years.

Note: This waiting time may vary due to the large volume of residence requests.

FAMILY REUNIFICATION

After receiving your residence permit, you can apply for family reunification of your spouse and dependent children.

Waiting Time: After submitting the documents the appointment may take 90 days.

Do you want to know more about how to start a business and live with your family in Portugal?

On Demand International is an international company based in Portugal and the Netherlands, focused on developing solutions for companies, entrepreneurs, nomad capitalists and their families seeking freedom and opportunity in a new country, their new home.

We will help you to have a new start, new markets for your products or services, start a business, investing, live in Portugal or any other Schengen country.

Make contact with us via send us an email to support@ondemandint.com