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Passive Income Requirement

UKMark

Hi,
I posted this a few days ago but didn't get a response. I would really appreciate to hear from anyone who managed to get the D7 visa with a lump sum rather than a regular passive income. This is the situation i'm in and can't find any information about whether this is acceptable or not for a D7.
Any advice very much appreciated...
Thanks
Mark

See also

Banking in PortugalOpening a Bank Account as a Non-residentAnyone recommend a good Accountant in Algarve for NHR / TaxTrying to Run a virtual PracticeOpen a bank account remotely
hazmog

Ideally you need a passive income. You could feed passive income from a savings account which would do the same thing...

hazmog

Just to say, what sort of lump sum is it? If it's a large amount why not invest in a buy to let property which would give you a passive income and an asset you can sell later if you want to.

UKMark

Thanks, the BTL is a good idea but it wouldn't fit with our current plans. The transfer from savings would work ok if this acceptable for a D7 though.
Thanks

JohnnyPT

ARTICLE 77, PARAGRAPH 1 – RESIDENCE PERMIT (GENERAL REGIME)



"Evidence of sufficient means of subsistence, as per the provisions of Order number 1563/2007, of 11/12"

Law 1563/2007 mentions this (need translation):

UKMark

Thanks for this. From reading through the links I think there could be some ambiguity around the terms being used but I think a regular transfer from a savings account where a lump sum is kept would be sufficient.
Hope i'm not wrong anyway  :)

hazmog

I did both. I also got a signed letter from my accountant showing my assets. Seemed to do the trick. Make sure you have a Portuguese bank account and NIF. Can be got online.

UKMark

Thankyou, I think we should be good from what you've said.

abbejena

@UKMark Hello Mark! I know this is quite an old thread, but did you manage to obtain D7 visa based on savings only?  Looking into this too, but can't find any official information. Many thanks!

Abe

ziegelaa2001

So you showed only your savings not the passive income required per month.


Have the rules changed per se


Thoughts

SimCityAT


    @UKMark Hello Mark! I know this is quite an old thread, but did you manage to obtain D7 visa based on savings only?  Looking into this too, but can't find any official information. Many thanks!
Abe
   

    -@abbejena


If you are from Finland why do you want a visa? You don't need one because you are in the EU.

JohnnyPT

@abbejena


You have to be truthful about your nationality. And "nationality" is not the country where you live in or any other. If you're not correct, how can you get accurate answers?

hbinder36

@abbejena things have tightened considerably, although no official changes. You must show actual passive income now and 3 months worth currently depositing into your account.

hbinder36

@hazmog no, actually it won't. I've seen the denial trying this route even off of $800,000 principal investment.