Residency permit

Can I ask where did you get the 1070 euro thing from? As I understand, means of subsistence

https://www.vistos.mne.pt/en/national-v … ubsistence

is about 635 euros. So I guess you are okay. I may be wrong. As I understand, Portugal typically asks for 6 months financial history including bank statements.

The D7 visa is a residence visa for retirees or holders of income who wish to live in Portugal:

- Evidence of adequate accommodation: Documentary evidence of having accommodation in Portugal (property title deed, rental agreement or property loan agreement); 

- Evidence of health insurance coverage;

- Documentary evidence of sufficient finances available to the applicant in Portugal. Currently, the simplest way to comply with this requirement is by opening an account in a Portuguese bank with the transfer of these resources.

As this is a discretionary decision by the Portuguese judging authority, naturally the higher the proven earnings, the greater the chances of the applicant to succeed in his application for a D7 Visa.

Minimum Resources: Proof that the applicant has the minimum income provided for by law to enable him to reside in Portugal for a period of not less than 12 months, such as:
      First adult (applicant): 100% of the current minimum wage (635€) = 7,620€/year;

      Second adult (spouse or partner): 50% of the current minimum wage (318€) =
      3,816€/year;

      Children and young people under 18 and over-dependent children: 30% of the 
      current minimum wage (191€) = 2,292€/year.

      (These are current values for 2020)

- Documentary evidence of having a reasonable net regular/stable passive income: Proof of sufficient funds, i.e., bank statements for the last six months

- Income tax returns for the last three years.

JohnnyPT wrote:

The D7 visa is a residence visa for retirees or holders of income who wish to live in Portugal:

- Evidence of adequate accommodation: Documentary evidence of having accommodation in Portugal (property title deed, rental agreement or property loan agreement); 

- Evidence of health insurance coverage;

- Documentary evidence of sufficient finances available to the applicant in Portugal. Currently, the simplest way to comply with this requirement is by opening an account in a Portuguese bank with the transfer of these resources.

As this is a discretionary decision by the Portuguese judging authority, naturally the higher the proven earnings, the greater the chances of the applicant to succeed in his application for a D7 Visa.

Minimum Resources: Proof that the applicant has the minimum income provided for by law to enable him to reside in Portugal for a period of not less than 12 months, such as:
      First adult (applicant): 100% of the current minimum wage (635€) = 7,620€/year;

      Second adult (spouse or partner): 50% of the current minimum wage (318€) =
      3,816€/year;

      Children and young people under 18 and over-dependent children: 30% of the 
      current minimum wage (191€) = 2,292€/year.

      (These are current values for 2020)

- Documentary evidence of having a reasonable net regular/stable passive income: Proof of sufficient funds, i.e., bank statements for the last six months

- Income tax returns for the last three years.

Hi Johnny,
                   I have a question. when you say,
Proof that the applicant has the minimum income provided for by law to enable him to reside in Portugal for a period of not less than 12 months, such as:
      First adult (applicant): 100% of the current minimum wage (635€) = 7,620€/year;



It is okay to show 635 or more euro per month stable income for past 6 months or do we have wait a year to have earned that much money thru financial investments. For example, 635 *6=  3810 euros is fine?


The second question that I have is , when you say income tax returns for last 3 years. Is this a mandatory document?  I did a search and found, VFS India is requesting this document whereas, for example, VFS USA or VFS Egypt aren't.

https://www.vfsglobal.com/portugal/usa/ … cklist.pdfhttps://pt.vfsglobal.co.in/pdf/Residenc … people.pdf

Does this vary from consulate to consulate? where did you get the 3 years tax return requirement from?

Thank you.

1. Any income variation obtained in terms of periodicity, whether it is annual, quarterly, etc., I cannot tell you here. It has to be as shown above: stable, regular and obeying the following rule:

Minimum Resources for applicant only: Proof that the applicant has the minimum income provided for by law to enable him to reside in Portugal for a period of not less than 12 months = 7,620€/year;


2. Income tax returns for the last three years: Well, this information sometimes appears as part of the required documents, whereas sometimes is omitted, hence creating some doubts. If you check on the Schengen Visa website you will find that it is required to submit Income Tax Return (ITR) if you are employed or self-employed, but not as retired... What can I tell to you, is that you may not be asked to do so but you should be prepared to hand it over.

https://www.crownportugal.eu/d-7-visa-i … tugal-nhr-https://www.schengenvisainfo.com/portugal-visa/

JohnnyPT wrote:

1. Any income variation obtained in terms of periodicity, whether it is annual, quarterly, etc., I cannot tell you here. It has to be as shown above: stable, regular and obeying the following rule:

Minimum Resources for applicant only: Proof that the applicant has the minimum income provided for by law to enable him to reside in Portugal for a period of not less than 12 months = 7,620€/year;

Thank you so much for your answers. The least I can do is appreciate your time and effort  into  a reply.

I get the minimum 7620/year requirement. The question is, this of course varies from one year to another. People that are already on D7 in Portugal, when they do their renewals, 1st or subsequent, are applications decided on the minimum income amount that is current at the time of decision on a renewal or what they initially satisfied when getting their first D7.

Just asking, what if income requirements become ridiculously high in next 3-4 years, does that mean D7 residence permit would not be renewed.

Thank you once again.

I think the problem will be if the income falls below the minimum... As this is a discretionary decision by the Portuguese judging authority, naturally the higher the proven earnings, the greater the chances of the applicant to succeed in his application for a D7 Visa (or renewal).

In addition, it has also been a requirement of the Government of Portugal for the concession of the minimum values to be guaranteed for a period of not less than 12 months and to be available in Portugal. Currently, the simplest way to comply with this requirement is by opening an account in a Portuguese bank with the transfer of these resources.

Thankyou so much for your reply this has been most helpful, I think i saw the €1070 requirement i think it was online somewhere. So pleased to hear its not that much!
So grateful 🙏🙏🙏

Hi. Thanks for info. I can't get, why should I have a passive income if I've enough money for living and basically can not work. Why can't I just open a bank  account in Portugal, deposit enough money there for living expenses and that's it. U said that it's necessary of around 13,728 euro/annually for family of 3. If I deposit 100k euro on bank account, it means I can suit this criteria during 7 years. If I deposit 200k, it's for 14 for whole family and so on. The difference between the guy who has passive income at the moment and other one who has live money is that money is already exist and u can spend it whenever u want, but passive income can vanish in the thin air at any moment. For ex, the income from renting your apartment is very unstable, especially during pandemics. I've many acquaintances who got a good money before, but can't find the tenants now at all or renting rates fell down drastically. In other words, how do they treat the people who have enough money and don't need any passive income? In other hand, maybe they're interested  in passive income, rather than in real money, 'cause the first one is taxed, but money don't?

Hi Saimfish,
I think you misunderstand the concept:
bank deposit = passive income

Best Regards

JohnnyPT wrote:

Hi Saimfish,
I think you misunderstand the concept:
bank deposit = passive income

Best Regards

Maybe, that's why I wanna find it out. The point is why should I have a passive income if I've already have enough money(savings) in advance. Basically, what is passive income for? As declared, it's for that person can live in country without any needs and problems, paying for this and for that. Otherwise, such person can make some mess for the country. So, I wanna understand why should person gotta have some passive income if he already has an assets for 20-30 future years. He already saved it. It's better to have it now, than hope for some passive income in the future. Today it flows, but tomorrow can disappear. So, I can't get why it's not enough just to show, that u already have all necessary assets for future life in country.

Please read this:

https://www.portugalist.com/d7-savings/

A common question that gets asked with regards to the D7 visa is: can I apply with just savings? 
(...)

The problem with savings:

From the Portuguese government's point of view, savings are seen as less reliable than other forms of income like a pension, dividends, royalties, or even income from a remote job, all of which are typically paid out in regular installments, unlike cash savings, which you have immediate access to (and can spend in one big go).

If you were to spend all your savings and you didn't have any income, you would then become a burden on the Portuguese state and the goal of the D7 is to bring people who have sufficient means to live here and not become a burden.


There are a few different reasons that one person could be accepted with savings and another rejected:
(...)

What to do if you just have savings:
(...)

JohnnyPT wrote:

Please read this:

https://www.portugalist.com/d7-savings/

A common question that gets asked with regards to the D7 visa is: can I apply with just savings? 
(...)

The problem with savings:

From the Portuguese government's point of view, savings are seen as less reliable than other forms of income like a pension, dividends, royalties, or even income from a remote job, all of which are typically paid out in regular installments, unlike cash savings, which you have immediate access to (and can spend in one big go).

If you were to spend all your savings and you didn't have any income, you would then become a burden on the Portuguese state and the goal of the D7 is to bring people who have sufficient means to live here and not become a burden.


There are a few different reasons that one person could be accepted with savings and another rejected:
(...)

What to do if you just have savings:
(...)

Thanks a lot Johnny for valuable info. Now the picture is clear for me. As for the government's point of view, that savings are less reliable than other forms of income, it's at least ridiculous, but actually is a bullshit. The main point they insist on that is, I believe, 'cause they wanna get some profit, taxing u. If u live just on savings, they don't receive anything, but if u have an income, u're taxed of 28.5%, it's quite sensitive, so if u have a family of 3 and gotta show an income of around 12,960 euro/annually, for 6 years till permanent residence or citizenship u will waste of around 22,160 euro. By the way, as of your practice and experience, is it enough to show  12960/euro/annually as min income for family of 3 or they wanna more? Can u, for ex. show this income, get a residence for 1 year and then give it up and show it again only when u apply for the next 2 years, and so on, or they check your income out all the time and can quibble over it?

JohnnyPT wrote:

The D7 visa is a residence visa for retirees or holders of income who wish to live in Portugal:

- Evidence of adequate accommodation: Documentary evidence of having accommodation in Portugal (property title deed, rental agreement or property loan agreement); 

- Evidence of health insurance coverage;

- Documentary evidence of sufficient finances available to the applicant in Portugal. Currently, the simplest way to comply with this requirement is by opening an account in a Portuguese bank with the transfer of these resources.

As this is a discretionary decision by the Portuguese judging authority, naturally the higher the proven earnings, the greater the chances of the applicant to succeed in his application for a D7 Visa.

Minimum Resources: Proof that the applicant has the minimum income provided for by law to enable him to reside in Portugal for a period of not less than 12 months, such as:
      First adult (applicant): 100% of the current minimum wage (635€) = 7,620€/year;

      Second adult (spouse or partner): 50% of the current minimum wage (318€) =
      3,816€/year;

      Children and young people under 18 and over-dependent children: 30% of the 
      current minimum wage (191€) = 2,292€/year.

      (These are current values for 2020)

- Documentary evidence of having a reasonable net regular/stable passive income: Proof of sufficient funds, i.e., bank statements for the last six months

- Income tax returns for the last three years.

As for the evidence of health insurance coverage, what term it should be for? I've read, that if u get temporary residence via D7 visa, u can use public medical care service, as other citizens.
As for the income tax returns for the last three years, what about if u don't work, or work, but not regularly, only if u want to or there's some interesting job with attractive payroll?
As for the passive income, what kind of income it can be? Is there some official full list or it's not defined. As for the some conventional examples, it's probably real estate renting out, bank deposits interest. And what about income from car renting or other movable  property, capital gain from stock or currency trading, loan interest? In some article from your link I read, that even income from online job is accepted, but it's not a passive income, I feel they wanna tax as much as possible)

You should ask the Portuguese consulate in Malaysia (USA?...) for the information you want and about which you do not get an answer here. Some requirements may vary between consulates.

No one here has said that savings are not an income accepted by the consulate when granting a visa.

I am sorry, but I cannot help you any further.

Thank u soo much for ur reply and suggestion.