Montenegro

Country Profile

Montenegro gained independence very recently, in the year 2006. Because of its pre-independence social demographics, it is a multi-ethnic and tolerant community, and a great tourist spot. With sunny beaches and green mountains, the country offers a pro-business tax regime, which is also easy for the individuals.

Montenegro is a part of the EU which facilitates the country accessibility to multiple countries in the global market, as well as innumerable socio-political opportunities. Granting access to around 126 countries, its pristine ecology and general healthcare and academic opportunities make it an attractive destination for those looking to make it a second home. 

What is the D7 Visa?

The Portuguese government introduced a special visa type in 2007, known as the D7 Visa, the Retirement Visa, or Passive Income Visa. This residency visa permits any non-EU/EEA or non-Swiss citizens to apply for residency in Portugal, provided that they have a reasonable passive income.

Indeed, the D7 Visa is an affordable and attractive Portugal immigration visa allowing non-EU citizens to get Portuguese residency provided they have sufficient funds to sustain themselves during their stay in Portugal.

Pensioners, entrepreneurs who want to live in Portugal, retired foreign citizens, or other expats living off of a recognized stable income, such as movable property, real estate, intellectual property, or financial investments, may be eligible to apply for the D7 Portuguese Visa, and subsequently, apply for a residence permit. 

The residence permit granted through the D7 Visa can then be renewed after one year for two successive periods of two years and can be converted into a permanent residence permit after five years. In addition, after five years of holding a legal residence permit under the D7 Visa regime, you’ll also be able to request Portuguese nationality, provided you fulfill the other requirements foreseen in Portuguese law.

D7 Visa Portugal 2022 Requirements

The D7 Visa Portugal requirements are as follows. You must:

• Be a non-EU national
• Minimum income requirements: earn a passive income of at least €760 per month (your income can come from pensions, transferable equity, real estate, intellectual property, or financial equity)
• Show proof of a place to live in Portugal
• Be willing to reside for more than 183 consecutive days per calendar year in Portugal

D7 Visa required documentation

• D7 Visa application form
• Valid passport
• Two passport photos (passport sized)
• Proof of passive income
• Proof of adequate accommodation (12-month lease agreement)
• Criminal record background check
• Valid travel insurance with health coverage
• Six months of bank statements

Portugal D7 Visa Processing Time

Obtaining a temporary four-month visa in your home country can take up to 60 days, provided you submit all the required information.

When you receive your visa, you will also get an appointment with SEF, booked by the Portuguese Consulate, when they issue your visa.

Once SEF has collected your documents and biometric data, it will take about three weeks for them to send your residence card to your Portuguese address.

D7 Visa Application Process: Step-by-Step Guide

• Apply for The Temporary D7 Visa from Your Home Country

• Attend Your SEF Appointment and Enroll Your Biometric Data

• Get Your Residency Card

D7 Visa Application Timeline

• Get your residence permit for 1 Year
• Renew your residence Permit for 2 years
• Renew your residence permit for 2 additional years
• Apply for Portuguese permanent residency or for Portuguese nationality 

The cost of the Portuguese D7 Visa

• For your D7 Visa application, you can expect to pay €90
• For your residence permit, you can expect to pay around €160

Tax benefits

If you hold a residence card, you are entitled to benefit from Portugal’s Non-Habitual Tax (NHR) Regime. The NHR is a generous tax program with numerous benefits pertaining to your global income. It offers tax-free incentives on certain categories for a period of up to ten years.

Below are the types of income that may qualify under the NHR program:

• Dividends
• Real estate income
• Capital gains from the disposal of real estate
• Occupational pensions
• Royalties
• Business and self-employment profits derived from eligible occupations (but be mindful of relevant double taxation agreements)

As of 2020, pensioners registering for the NHR tax scheme are now taxed at a rate of 10 percent.

Benefits of the Portuguese Residence Permit Granted Through D7 visa

• Permanent free entry and circulation in the Schengen area
• Live, work and study in Portugal
• Tax benefits via NHR
• Benefit from the Portuguese health care system
• Fast visa process
• Entire family is eligible
• Once you’ve held residency for 12 months, your new born children can become Portuguese citizens