Passive Income Visa, also known as ‘D7’, provides residency rights to those including retirees so long as they have a reasonable and regular passive income from a pension, rental, dividends, or any investment income. The minimum income requirements differ based on the number of dependents that the main applicant wishes to take while relocating to Portugal. For instance, the main applicants are expected to have an income of €7,620 per annum, spouse, or parents of main applicant €3,810 per annum, and dependent children €2,292 per annum per person. Please note that these amounts are subject to change over time. But eventually, you must prove that you have held the minimum amounts per annum within a Portuguese bank account.
Unlike most countries, ‘dependent’ refers to a wider range of persons according to Portuguese authorities, and not only may you take your spouse and children under 18 with you but dependent parents of the main applicant or their spouse and minor siblings who are legally deemed to be in the care of the main applicant may benefit from this right.
In the first application, you will have granted a 2-year residency, and then, you may extend it by 3 years more. To be able to extend your visa though, you must spend at least six consecutive months or eight non-consecutive months in Portugal.