D2 vs Portugal Golden Visa: At a Glance

What is the Portugal Golden Visa?

The Portugal Golden Visa is the country’s most popular Residency by Investment program, though it’s not the only one.

With several options available, the one that stands out the most for potentially getting a return is the investment funds option.

With a €500,000 investment in regulated private equity or venture capital funds, you get:

• Visa-free travel in the Schengen Zone: You’re entitled to the same travel rights as other European citizens, even if you’re still bound by 90/180-day rule. You don’t have to get additional visas.
  
  
• Family Inclusion
  
  
• Pathway to EU Citizenship
  
  
• Low Physical Presence Requirements

You’ll be able to apply online, and will only have to come to Portugal, during the process, for the biometrics appointment.

Afterward, you’ll be issued your temporary residency permit, which you’ll have to renew 2 more times until you become eligible to apply for Citizenship.

In the meanwhile, a certified funds manager runs the entire investment for you, letting living in Portugal without having to check in constantly on your investment.

Read more:
Where to Get a Golden Visa with Low Physical Residency Requirements

What is the Portugal D2 Visa?

Also known as the Portugal Business Visa, the D2 Visa is the only real Residency by Investment alternative to the Golden Visa.

With this program, you have several options: you can start your own business in Portugal, or either partially or fully acquire an existing Portuguese business.

Whereas both are valid options, the former is the most difficult venture since it involves creating a solid business plan from scratch.

With no fixed amount set by law, you’ll get:

• Visa-free travel in the Schengen Zone
  
  
• Spouse Inclusion: You may add your spouse to your application under Investment Visa’s packages, with the further possibility of including more dependents on your application.
  
  
• Pathway to EU Citizenship: As with all residency visas, the D2 also begins the path to Citizenship. It takes a total of 5 years until you become eligible to apply for the Portuguese passport.
  
  
• Flexible Physical Presence Requirements
  
  
• Potential NHR 2.0 eligibility

D2 Visa vs Portugal Golden Visa: Main Differences

Capital Entry

There’s no minimum amount set by law for the D2 Visa, other than the share capital of the Portuguese company must be, at least, of €5,000.

However, this amount by itself is insufficient to start or invest in a viable Portuguese company, and the Portuguese authorities will request a substantial amount of documentation to verify the business’s legitimacy, including accounts.

Hands-On Level

Perhaps the most important difference between the two is that the Golden Visa is more suitable for passive investors who are simply satisfied with investing and letting the capital work for them.

The D2 Visa, on the other hand, fits better for active business on the lookout for profitable opportunities. However, Investment Visa’s curated D2 Visa packages also fit those with a more passive investment profile.

Time until Residency Permit

Since AIMA is currently dealing with a larger backlog of Golden Visa applications, it’s taking considerably longer to process than the D2 Visa.

Thus, the time to get a residency permit is shorter for those who apply for the D2 Visa.

Stay Requirements

The Golden Visa requires the applicant to stay 7 days in the first year, and 14 days each subsequent year, which is perfect for a holiday in Portugal.

The D2, on the other hand, has flexible requirements, though it ultimately depends on how you structure your business.

Income Source

You may potentially obtain a return on investment by going the Golden Visa route. However, this amount is never guaranteed, as it will depend on a number of factors outside your control.

With the D2 Visa, and operating a viable business, some degree of profitability is virtually guaranteed

D2 vs Portugal Golden Visa: The Application Process

The D2 and the Golden Visa have many differences, but also many similarities, especially in the application process. Namely, when it comes to the document gathering part. Both visas will ask for:

• A valid passport;
  
  
• A clean criminal record;
  
  
• A Portuguese NIF number;
  
  
• A Portuguese Bank Account;
  
  
• Private medical insurance.

However, each will have its own set of specific documentation.

A D2 Visa Application:

• A business plan;
  
  
• Company creation or acquisition-related documents;
  
  
• Proof of financial means;
  
  
• Other documents.

With a successful application, you should receive a four-month entry visa, which will require you to book and attend a biometrics appointment at AIMA in order to convert your visa into a residency permit.

A Golden Visa Application

• Chosen investment fund-related documentation;
  
  
• Proof of €500,000 investment and legitimate source of funds;
  
  
• Fund subscription certification;
  
  
• Other documents.

D2 vs Portugal Golden Visa: Cost Comparison

The bulk of the costs will pertain to the main investment part. In the case of the Golden Visa, that will be the €500,000 required for the funds.

For the D2 will largely depend on the business plan you have created. Bear in mind this may include "hidden" fees like staffing, licensing, and other operational costs.

Not to mention, all the costs related to health insurance, getting accomodation in Portugal, as well as application processing fees.

When it comes to the Golden Visa, the total investment amount can come considerably higher than initially expected, when you add in government and administrative fees.

On the other hand, Investment Visa’s exclusive Mátria Co-Work fully qualifies for the D2 Visa, and is a considerable more affordable option, starting at €280,000.

Request more details about our Mátria Co-Work D2 Visa Packages

D2 vs Portugal Golden Visa: Which Should You Choose?

You have to choose not what is overall the best program, but what works for you and your context.

Choose the Portugal D2 Visa if:

• You want to combine the hassle-free experience with the lowest investment amount possible;
  
  
• You want to invest in a Portuguese business;
  
  
• You already have your business and wish to expand into Portugal, including a plan and job creation goals.

• You have considerable amount of capital to invest in Portugal;
  
  
• You wish to have a hassle-free experience;
  
  
• You want to have a Plan B.

Why Investment Visa

• € 500 million in completed property and visa investments since 2017;
  
  
• €180 million in assets we own and manage, with several projects across Portugal and the United Kingdom;
  
  
• And most importantly... a 100% approval record on every residency or citizenship file submitted through us.

Our multicultural, multilingual team brings 30+ years of shared experience in every aspect related to invest migration, and whether your choice is the D2 vs the Portugal Golden Visa, we are determined to guide you and all of our clients to their brighter future.

With us, your file never leaves our offices, and the same team continues to guide you even before, during, and after the investment.

We guide you with your NIF, bank account, fund subscription, or company set-up. We draft your business plan, book biometrics, renew residency cards, and place your citizenship petition five years later.

We itemize everything up-front, promise expedited responses, and you’ll have your advisor’s direct WhatsApp from day one.