Capital: Lisbon.
GDP: $236.049 billion.
Language: Portuguese, Miranda.
Air temperature: average annual temperature in summer + 20°C, in winter + 6°C.

"Passive Income Visa" in Portugal (also known as "D7 visa") - residence visa followed by a residence permit is intended for non-EU citizens who have sufficient regular passive income.

The advantages of living in Portugal are the following:

• Free movement within the Schengen area, which includes 26 European countries;
• The country is among the TOP 10 safest countries in Europe;
• A stable economy and reliable banks;
• "Passive Income Residence Permit" does not exclude the possibility of professional activity in Portugal;
• The participant of the program is exempted from taxes on foreign income for a period of 10 years, given he was not previously a tax resident of Portugal;
• Access to other rights of residents of Portugal, such as the right to study, recognition of diplomas and qualifications, health, social security, etc.

Features of Passive Income Visa

It is important to point out that this is not just a visa, but a residence permit. At first, it is issued as a visa of category D7 valid for 4 months. This time is allotted for moving to the country. After the services of the country will make sure that the applicant has settled down, rented a place for a long time, or better purchased one, he or she is granted a temporary residence permit for 1 year. If everything is still in order, the document is renewed now and then throughout 2 years, and after 5 years the right for permanent residence is offered.

For a person intending to move to Portugal, this visa is a good alternative to the "Golden Visa": no investment is required, the processing of the application is faster and the state fees are relatively low (for a family of three, the savings of state fees will be about 30 000 euros).

Basic condition

Visa is for people of all ages. The main expectation is that an applicant constantly receives income from foreign sources. Under Portuguese law, the applicant must provide evidence of net regular passive income, such as pensions, rent, dividends or income from intellectual property, which is considered sufficient to maintain a stable income for his or her family in Portugal. This is a set minimum of €12,000 per year, plus 50% of this amount for spouses and 30% for each dependant.

The process of obtaining a visa includes the following:

• Opening a bank account (transfer to an account of at least 12,000 euros plus 6,000 euros for the spouse and 3,600 euros for the child);
• Accommodation in Portugal (securing long-term residence by buying or renting a property for a long period of time (we recommend from 1 year);
• Applying for a visa.

Visa extension

The residence permit is renewed at the end of the first year and every two years thereafter; however, if the Language Test for the "basic Portuguese language" is passed, the holder may apply for permanent residence and/or for Portuguese citizenship after five years.
The application for renewal of the residence permit shall be submitted within 30 days before its expiry.