D7 Visa - Portugal bank deposit requirements for Visa - 18,000 euros?

Last activity 30 April 2022 by Youness1980inistanbul

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Andrew RockwellActive member12 April 2022 18:09:52

I have been told that for the approval process for the Portugal embassy in Washington, D.C. that I need the equivalent of 2 years of minimum income deposited in a Portugal bank, or approximately 18,000 Euros.

Does this match the experience of anyone who has gotten a D7 retirement Visa recently? If not, can you point me to something that clarifies this?

Please advise!

Thank you.

RobLaneMember13 April 2022 03:11:37

I have applied for D7 from the UK and my understanding is that they are more interested in a regular income than lump sums.

The requirement is at least the Portuguese minimum wage for the main applicant and 50% for the second which comes to around €1200 per month for a couple.

Having money in a Portuguese bank will help you but that alone may not meet the criteria for D7.

Andrew RockwellActive member13 April 2022 11:59:17

@RobLane

Thanks. I meet the income requirements, the deposit is above and beyond that.

That's why I'm asking for other's experience.

joeygrahamMember13 April 2022 12:42:37

Hi Rob,

I have only just had Visa approved, they were not too interested that the required money was in the Portuguese account but that I actually had a Portuguese bank account. I showed them the required amount of savings in my English account.

The monthly income is also important as is mentioned above

lindajyee57New member13 April 2022 13:00:56

If you join the Facebook page Americans and Friends PT they have absolutely all the information you need in the Files section.

They are also really happy to offer experience and advice 🙂

I have just had my D7 stage 1 approved from London.

My husband and I came to Portugal for 7 weeks to get a feel of where we would like to live and also obtain our NIF and open a bank account.

We deposited €13000 which was going to be for €8400 (me) and €4200 (husband).

In the end only I applied (long story) and husband will come in on family reunification.

It’s hard to know if having that extra in the account made a difference, they won’t tell you.

They did ask specifically to look at our Portuguese bank statement and the amount.

We also provided bank statements from our NZ bank with all the balances and evidence of our pension going in and the amount.

Good luck 😊

syetman750Member13 April 2022 16:02:54

@Andrew Rockwell ,

Hi Andrew

My husband and I received our D7 visas last August, 2021 through the SF Prt Consulate.. It was just before a couple of significant changes were made from what I have heard from expats who followed after us. We arrived to Prt in Nov.

What I was told (and read on a could of forums) from Americans who were also approved through San Fran, is the amount of money required to be deposited did indeed increase from one year to two years equivalence of the minimum wage for one person + 50% of that amount for a couple.

What DC is telling you is more than likely correct. While working on our visas I had also read that it was better to deposit more than the requirement because the chances of getting approved were better. Of course I don't know if that piece is true but we did it anyway. Our visas were approved in 30 days.

From my personal experience the agent was very interested in our Portuguese bank account, and the amount. We also more than met the passive income requirements but I think they really want to make sure expats have a back-up so as not to tax their social services system anymore than it already has been, especially with the cause and effects of Covid.

I would say, long story short, if you are speaking with an immigration agent from the US or the Prt Consulate they know what they’re talking about. If you need a reputable resource to help set up your account please let me know.

Best Regards,

Sharin

elliebennettMember14 April 2022 19:28:21

@RobLane Hi Rob, thanks for your post, I was just wondering whether you know what the situation is when a couple apply - I am working remotely but my partner is retired with no pension but fairly substantial savings. Do you know whether this would satisfy the Portuguese immigration requirements?

JohnnyPTPortugal Expert15 April 2022 07:30:12

4478

Hi Ellie,

There is not a specific programme (yet) that has been designed for digital nomads in Portugal. The D7 visa or the entrepreneur visa will probably be a good option for anyone who has an independent income - and wants to live in Portugal on a medium to long term basis.

Eg. You can both apply for the D7 visa. Or then, one of you can apply for the D7 visa and the other one can use the family reunification route.

Moving to Portugal after Brexit

https://www.expat.com/forum/viewtopic.php?id=908742#5077438

(Post #7 & following posts)

chrisschubert21Contributor15 April 2022 08:33:12

138

Hi JohnnyPT,

I've a question regarding the family reunification procedure: I as NHR as a German citizen, can do a family reunification for ms step dauther here in Portugal?

I'm waiting for your Feedback,

Thanks,

JohnnyPTPortugal Expert15 April 2022 09:22:28

#10

4478

Hi Chris,

If your stepdaughter is an EU citizen, she doesn't need it. Otherwise, please read this:

APPLYING FOR RESIDENCE IN PORTUGAL FOR LIVING IN PORTUGAL AND FAMILY REUNIFICATION (RELATIVE IN NATIONAL TERRITORY)

https://imigrante.sef.pt/en/solicitar/residir/art98-2/

chrisschubert21Contributor15 April 2022 11:44:34

#11

138

Thanks JP!

Can you also recommend some Low Offices, with experience in this field?

Cheers,

Youness1980inistanbulNew member30 April 2022 05:59:29

#12

This visa D7 is beneficial but complicated in terms of NIF bank account and yearly contract lease

About the income, I'm a shareholder of a company of 49% and the income is not fixed because depends on net income after tax deduction but as the last 6 months experience my part was between 10000 to 3000 euro a month

Youness1980inistanbulNew member30 April 2022 14:46:32

#13

any one can suggest a law firm which they don't charge imaginary costs?

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