Eternity Law International — News — Portuguese Residence Permit for Company (Sole Proprietorship) Registration in Portugal

Portuguese Residence Permit for Company (Sole Proprietorship) Registration in Portugal

Published:
December 14, 2023

Incorporating a firm in Portugal can be a strategic move for global businesspersons, and securing a residence permit (D2 Visa) is a crucial step in the process. The local authorities offer a streamlined mechanism for acquiring such permission for the business owners. This article aims to demystify the intricacies of this process for businesspersons looking to embark on this journey.

PT business formation for non-citizens

A D2 Visa is an official document that allows non-European citizens to reside and legally work within the jurisdiction. It is a key requirement for natural persons planning to establish a venture or invest in the jurisdiction. The permit grants multiple benefits, including access to health care, an educational system, and special incentives in some regions. For instance, Madeira, an autonomous region, presents enticing opportunities for firms due to its reasonable tax structure and supportive biz ecosystem. Hence, a businessperson can simultaneously secure company registration in Madeira while securing a visa. 

The terms for incorporation of the legal entity for non-citizens

The applicant must comply with a number of mandatory obligations such as demonstrating proof of a viable business plan, a local registered office, and a certificate of good conduct. Also, financial stability, evidenced through adequate funds or a sustainable income, is a key consideration. Legal experts advise thorough documentation to ensure a smooth application process.

How to apply for a D2 Visa?

Successfully navigating the preparatory process for aspiring businesspersons demands meticulous attention to detail. It entails submitting a comprehensive request to the SEF. To begin, applicants are required to obtain a preliminary visa, which grants them entry into Portugal for a duration of four months. During this time, it is crucial for applicants to diligently prepare all necessary papers and proceed with applying for a permit.

However, applicants who possess a Schengen visa can bypass this phase altogether. Indispensable papers such as a valid passport, proof of health insurance coverage must be furnished to ensure a smooth process. Also, the plan for activities and financial documentation must be presented in an articulate and persuasive manner.

To optimize your chances of success during this intricate process, consider engaging the support of a local legal attorney who can assist with preparing your appeal and ensure valuable assistance throughout the journey.

Overview of benefits

The D2 Visa simultaneously unlocks a plethora of advantages. Beyond the joy of experiencing the vibrant culture, businesspersons gain access to the EU market and enjoy the benefits of Portugal’s favorable tax regime. The permit also facilitates seamless travel within the Schengen, offering unparalleled business and leisure opportunities such as receiving citizenship, living in the country on a long-term basis, and taking advantage of a range of incentives, including those given by the status of an NHR. Furthermore, Portugal’s growing economy provides an optimal climate for growth and innovation.

How long is the D2 Visa valid?

Understanding the duration of the permit is vital for long-term planning. Generally, the initial permit is granted for one year, allowing businesspersons to establish their companies. Upon successfully implementing the biz plan, the permit can be renewed for two consecutive years. 

After residing in the country for five years, you can request a permanent residence permit in Portugal. This milestone not only provides long-term security but also grants you the freedom to travel within the Schengen Area. Furthermore, after residing in the country for six years, you may have the opportunity to apply for a citizen status. It is essential to consistently comply with legal terms and ensure the sustainability of your venture to secure extensions.

Conclusion

Summing up, acquiring a Portuguese residence permit is a strategic move for foreign businesspersons. Navigating the application process requires a thorough understanding of the legal terms and a careful paper package. The benefits, including access to the Euromarket and favorable living conditions, make Portuguese jurisdiction a first-choice place for commercial expansion. As legal professionals play a crucial role in this journey, their expertise can significantly enhance the likelihood of a successful application.

For detailed information about acquiring a visa, please contact:

Email: nikita.s@eternitylaw.com / Telegram: @nik_eternity

Please feel free to join our telegram channel to keep updated about new offers and ready-made companies for sale. Every week we have a new jurisdiction to offer ready-made turn-key solutions. We work worldwide. 

Please contact us to get more information regarding companies on sale. You can also see other offers in the category “Licenses for sale”.

You could be interested

Romania Authorised Crypto Companies

From a societal standpoint, the industry of virtual currencies and blockchain has undergone a well-defined progression. At the dawn of their existence, it was just an innovation which rapidly developed as an integral part of a modern world. Nowadays, recent emerging technologies evolved into new ways of convenient payments, a non-centralized substitute for the traditional...

The corporate tax system in Bulgaria

If you desire to have the ability to conduct entrepreneurship anywhere in the EU, Bulgaria is an excellent choice. Having the firm around enables you to utilize a variety of services on par with Bulgarian nationals. In this report, you can get more details on taxation in Bulgaria. So, does Bulgaria have high taxes? Is...

Reasons to choose Serbia for business

Launching a business is a serious and responsible step. You ought to know exactly what country is the best choice for you. One such promising country located in Europe is Serbia. Serbia is an appropriate country for your business activity. Why? Serbia has severe intentions to become a member of the EU. Moreover, it already...

UK’s FCA Approach to Forex and Crypto

FCA is a supervisory body which oversees monetary operations in Great Britain. Its powers encompass safeguarding clients, maintaining steadiness of the industry, and encouraging healthy competitiveness between FSPs. That regulator also set up a set of rules forex brokers must abide by. These regulations offer traders a secure trading atmosphere. What concerns crypto, the supervisory...

Taxation for IT

EFFICIENCY IMPROVEMENT Taxation for IT is one of the factors affecting the effectiveness of a given business. Not to pay taxes is prohibited at the legislative level. Taxes are an integral part of the business, and it is impossible not to pay them. However, these payments can be optimized. Any person with their own business...

UG vs. GmbH and the Pros and Cons of each: Which is right for you?

Among all legal forms in Germany it is necessary to emphasise two major of them: first one is UG, second one is GmbH. Every one of them is unique and has its pluses and minuses, so it is vitally important to comprehend which of them is most suitable for company activity. Here are some details...

Related posts

Ready-made company in Portugal

The option to buy shelf companies in Portugal is ideal solution for businessmen who intend to establish a firm abroad and enter global market-space. In the territory of this jurisdiction, entrepreneurs often choose firms that are created under the Trespasse scheme. Below we will take a closer look at what this scheme is and what...

Residence permit in Hungary

Introduction Hungary, a beautiful country located in the heart of Europe, has become an increasingly popular destination for foreigners seeking to live, work, or study abroad. If you’re considering relocating to Hungary, obtaining a residence license is an essential step in ensuring your legal stay in the country. In this article, we will supply you...

Company registration in Portugal

The Portuguese Republic is sited on territory of Iberian Peninsula. This state is in the tenth place in the rating of Europe regarding the procedure of “Companies Registration”. Portugal attracts a large number of entrepreneurs who are focused on doing commercial activities abroad. This happens for a number of the following reasons: low rates for...

Residence permit in Spain

Guide to Spanish Citizenship and Permanent Residence If you want to live in Spain for a long time or stay to live, you will need to obtain permanent residence or become a Spanish citizen. After you have been in Spain for five years, you are eligible for permanent residence, and after 10 years you are...

Permanent residence permit

Only by observing certain requirements, you can get a residence permit. They should be read in order to have an understanding of how to get a positive result in solving the resulting problem in the future. If you have any questions and need advice, you can contact a lawyer. He will help you understand this...

Temporary residence permit in Ukraine

Of the ways of legal residence, many prefer to get a temporary residence permit. It should be issued if you do not have the opportunity to obtain a permanent residence permit. ALGORITHM OF PREPARATION OF DOCUMENTATION FIRST POINT To acquire a temporary view of the place of residence, you must have certain grounds. All of...

Discover our services

The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.

Ready-made companies for sale

Companies with a bank account around the world

Banks for sale

Established Banks for sale

Ready-made licenses for sale

Forex, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Licensing

Forex licenses, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Offshore company registration

Expert advice on the acquisition of an offshore company

Open a bank account

Open bank accounts in more than 120 banks around the world
Fill the blank: