Portugal Retirement Visa For Indian Citizens

Residence Rights

One of the primary benefits of the Portugal Retirement Visa is the granting of residence rights. Indian retirees can reside in Portugal with ease, and this visa allows them to live, work, or study in the country. It offers a seamless transition to life in Portugal, ensuring a comfortable and fulfilling retirement.

Family Inclusion

The Portugal Retirement Visa is not limited to the primary visa holder. It also extends its benefits to family members. Retirees can include their dependent children, spouse, partner, or dependent parents in the application. This inclusive approach allows families to enjoy the Portuguese way of life together.

Visa-free Travel

Portuguese residents can travel visa-free to 26 Schengen states in Europe for up to 90 days within 180 days, making it easier to explore Europe. This means that retirees can easily explore the diverse cultures, landscapes, and experiences that Europe has to offer, making Portugal an excellent base for European adventures.

Business Opportunities

For retirees with entrepreneurial aspirations, Portugal provides opportunities to establish a business. The Portugal Retirement Visa doesn’t confine individuals to retirement alone. It encourages them to explore and invest in business ventures. This openness to business initiatives contributes to innovation and economic growth in the country.

Access to Resident Rights

As residents of Portugal, retirees and their families gain access to a strong social infrastructure. This includes access to quality education and healthcare services. Portugal’s healthcare system is renowned for its excellence, ensuring that retirees and their families receive top-notch medical care when needed.

Potential Tax Benefits

One of the most enticing aspects of retiring in Portugal is the option to apply for Portugal’s Non-Habitual Resident Scheme (NHR). The country offers tax benefits, including a flat 10% tax rate on foreign pension income for non-habitual residents, making it attractive for retirees. These tax advantages can make retirement income stretch further, enhancing the overall quality of life during retirement.

Golden Visa

The Portugal Golden Visa program allows retirees to secure Portuguese residency through qualifying investments in job creation, cultural heritage, or scientific research. It offers flexibility and numerous investment opportunities to meet your retirement goals.

D7 Visa

The D7 Visa, also known as the Passive Income Visa, is designed for retirees with regular passive income sources, such as pensions, rental income, dividends, or investments. This visa permits long-term residence and aligns perfectly with a peaceful retirement in Portugal.

Entrepreneur Visa

This visa is suitable for retirees interested in starting or investing in a business in Portugal. It requires a viable business plan and a commitment to job creation.

Investor Visa

The Investor Visa is an option for retirees willing to make significant investments in Portuguese businesses or job-creating projects. It can lead to residency and is suitable for those seeking active involvement in Portugal’s economy.

Family Reunification Visa

This visa allows retirees with Portuguese or EU family members to reunite with their loved ones in Portugal. It’s a suitable option for those prioritising family ties during their retirement years.

Retirement Income Visa

Some retirees may qualify for a visa based on their retirement income sources, even if they don’t meet the D7 Visa’s passive income criteria. This option can provide benefits to a broader range of retirees.

Income

To be eligible for the Portugal Retirement Visa, Indian citizens must demonstrate a reliable source of regular ‘passive’ income. This can include pensions, rental income, dividends, or investments. The specific income threshold may vary based on the visa category and the number of family members included in the application.

Accommodation

Securing long-term residential accommodation in Portugal is a fundamental requirement. This ensures retirees have a stable and comfortable place to live during their stay. Proof of accommodation can typically be provided through a lease agreement or property ownership documents.

Health Insurance

Health insurance is a mandatory requirement for the Portugal Retirement Visa. Applicants must provide evidence of a valid health insurance policy or submit an affidavit stating their intent to purchase health insurance within 90 days of arriving in Portugal. This requirement ensures access to healthcare services during their stay.

Criminal Background Check

Obtaining a criminal background check certificate from the country of origin or residence is crucial. This certificate confirms that applicants have a clean criminal record and pose no security threat to Portugal. It’s a standard procedure for visa applications and enhances the host country’s safety and security.

Fiscal Number and Bank Account

Retirees are required to obtain a Portuguese fiscal number (Número de Identificação Fiscal or NIF) for tax purposes and open a personal bank account in Portugal. These steps facilitate financial transactions, tax compliance, and effective financial management during their retirement in Portugal.

Additional Documentation

The Portuguese Consulate may request additional documentation based on individual circumstances or changes in immigration regulations. These additional requirements can vary and may include proof of a genuine connection to Portugal, language proficiency, specific financial criteria, and, in some cases, documents related to the applicant’s source of income.

Applicants need to stay informed about the latest documentation requirements and consult Total Law legal experts for specific details when applying for a Portugal Retirement Visa.

When applying for a Portugal Retirement Visa, there are several associated costs to consider:

1. Applicants are required to pay a fee of €90 at the Embassy or Consulate when applying for a national visa.
2. To process the residence permit application at the SEF (Immigration and Borders Service), an applicant needs to pay €83.
3. The residence permit itself carries a cost of €72.
4. Obtaining the Portugal D7 visa has a fee, which is approximately €100.
5. Upon arrival in Portugal, there is another fee, which is approximately €90, associated with obtaining the residence permit.

In addition to these fees, applicants should be aware of potential additional expenses, which can include:

1. Relocation costs if you are moving to Portugal.
2. Expenses related to renting or purchasing property in Portugal.
3. Professional fees may be payable if you seek legal or financial assistance.
4. It is highly recommended to have valid travel insurance that covers necessary medical expenses, emergency assistance, and repatriation.

While there is no specific age limit for the Portugal Retirement Visa program, applicants closer to retirement age may find it easier to meet the income requirements. Retirees over the age of 65 may also qualify for additional social security benefits in Portugal.

Gather the Required Documents

Start the application process by collecting all the necessary documents. These include:

• A valid passport with at least six months of validity remaining.
• A completed visa application form.
• Recent passport-sized photographs that meet Schengen visa requirements.
• Proof of income demonstrating financial stability during your retirement years. This can include pension statements, savings, or other legitimate sources of income.
• Details of your accommodation in Portugal, which could be an apartment rental or proof of property ownership.
• Valid health insurance coverage that includes necessary medical expenses, emergency assistance, and return home.
• A clean criminal background check to demonstrate a clean legal record.
• Obtaining a Portuguese fiscal number (NIF) is essential for various financial transactions.
• Bank account information to demonstrate your financial readiness.

Apply for a D7 Visa and Attend an Interview

Submit your visa application and accompanying documents to the Portuguese Consulate or Embassy in India.

As part of the application process, schedule an interview. During this interview, you’ll discuss your retirement plans and provide clear and honest answers regarding your financial stability and intent to retire in Portugal.

Arrange and Attend a Meeting with SEF

After receiving the D7 Visa, coordinate a meeting with the Immigration & Borders Service (SEF) in Portugal. SEF will offer further guidance and instructions related to your residence permit application.

During this meeting, be prepared to provide any additional documentation that SEF may request. You should also clarify any details related to your intended stay in Portugal.

Obtain the Special Visa

You will receive a special visa allowing up to two entries and a stay of up to four months. This visa serves as an interim measure while your residence permit is being processed, granting you entry into Portugal and temporary residence.

Apply for a Residence Permit

• Within the four months provided by the special visa, submit your residence permit application at the local SEF office in Portugal.
• Ensure that you have all the necessary documentation, including proof of accommodation, proof of financial stability, and valid health insurance coverage.
• Be aware that the residence permit process may take several weeks to complete, so it’s advisable to apply well in advance of the special visa’s expiration.