The advantages of the D7 visa for retired and self-employed people in Portugal

Portugal has become a popular destination for retirees and self-employed people looking for a high quality of life and a welcoming environment. The D7 visa, also known as the ‘passive income visa’, offers a host of benefits for those wishing to settle in this picturesque country. This guide outlines the main advantages of this visa for retirees and self-employed people.

Tax advantages

One of the main attractions of the D7 visa is the advantageous tax regime offered to foreign residents. Click here for more information about this visa. Portugal offers ‘Non-Habitual Resident’ (NHR) tax status, which allows new residents to benefit from foreign income tax exemptions for a period of ten years. This means that pensioners can receive their pensions without being taxed twice, while the self-employed can take advantage of a more favourable tax regime for their international income.

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Pleasant climate and high quality of life

Portugal enjoys a mild climate throughout the year, with moderate winters and hot, sunny summers. This pleasant climate, combined with beautiful scenery ranging from the beaches of the Algarve to the rolling green hills of the north, makes it an ideal destination for those looking to escape harsher climates. What's more, Portugal is renowned for its safety, high-quality health infrastructure and relatively low cost of living compared with other European countries.

Freedom of movement within the Schengen area

The D7 visa allows residents to travel freely throughout the Schengen area without the need for additional visas. This freedom of movement is a major advantage for those wishing to explore Europe while having their base in Portugal.

Access to high-quality health services

Residents in Portugal have access to the Portuguese healthcare system, which is renowned for its quality and affordability. In addition, expatriates can choose to take out private health insurance for extra cover. Portugal has an excellent medical infrastructure and skilled health professionals.

In summary, Portugal's D7 visa offers a unique opportunity for retirees and self-employed people looking to live in a country with a high quality of life, a pleasant climate and considerable tax benefits. With its simple application process and numerous benefits, it's no wonder that more and more people are choosing Portugal as their new home.