As a top destination for retirees, Portugal offers an incredible mix of natural beauty, cultural vibrancy, and a welcoming atmosphere. The Portugal Passive Income/Retirement Visa allows you to experience everything from the scenic vineyards of the Douro Valley to the lively streets of Porto. This visa option makes Portugal an ideal place for retirees or anyone with the means to enjoy a blend of authenticity, community, and quality of life.
Portugal At A Glance
Retirees and other applicants should know these quick facts about Portugal:
Official Language: | Portuguese |
Capital City: | Lisbon |
Population: | 10 million |
Currency Conversion: | $100 (USD) = $93.34 Euros |
Average Cost of Living: | $3,686 (USD) per month |
(Numbers are approximate)
Quick Visa Facts
Here’s a snapshot of the Portuguese Passive Income Visa.
Temporary Stay Visa | |
Visa Length | 2 years |
Possible to Extend? | Yes |
Who Can Apply? | Non-EU/EEA/Swiss nationals |
Minimum Income Requirements | € 820 per month + savings |
Time for Visa Applications | 4 - 8 months |
Family Reunification | Yes |
Portugal Passive Income Visa Overview
The D7 Visa, established in 2007, allows non-EU/EEA/Swiss nationals to live in Portugal if they have stable passive income from sources like pensions, rental income, or investments. This visa is ideal for retirees, investors, and individuals seeking to enjoy a peaceful life in Portugal. The D7 visa can be renewed for a total of up to five years, after which you can apply for either permanent residency or even citizenship.
In order to apply, you must provide 3 months of bank statements to prove a consistent minimum monthly income of €820 per month (€9,840 per year). If you are bringing family members you will have to prove enough savings to support them for at least 12 months (about €4,920 for your spouse and €2,952 per child), a document certifying retirement income or a document certifying revenue from movable and immovable property; intellectual or financial assets or self-employment, travel insurance, clean criminal records, cover letter expressing intent, and proof of accommodation.
You first apply for the visa to enter Portugal, and this visa is valid for 4 months. Then once in Portugal, you apply for the Temporary Residency Permit (residency card) which is valid for 2 years and is renewable.
The Temporary Residency Permit grants you access to an official residence card known as the “Cartão de Residência”. This identification gives you access to all public benefits, provided that you will be a legal resident of Portugal. After holding the Temporary Residency Permit for 5 years (+ other requirements) you can apply for either Permanent Residency or citizenship.
Who can apply for the Portugal Passive Income (Retirement) Visa?
Anyone holding a non-EU/EEA/Swiss valid passport.
Some countries on this list include:
United States
Canada
Australia
New Zealand
United Kingdom
You can apply as a retiree or as someone able to live off of passive income. You will have to provide evidence of pensions, rental income, dividends, bank interest, etc. As opposed to other countries, here you are allowed to work for Portugal-based companies, as long as you meet the income requirement from a passive income source.
Your spouse and children are allowed to apply under the same application form, but you will have to prove enough money to support them.
Need help applying? Our visa experts are here to help!
How to Apply for the Portugal Passive Income (Retirement) Visa: Step-By-Step Instructions
Apply for the Portuguese D7 Passive Income/Retirement Visa by following these simple steps:
Step 1: Gather Required Documents
Before you can apply, you must collect all the necessary documents. Please refer to this list of required documents. Documents issued by the government, such as marriage and birth certificates and the criminal background check, must be apostilled or certified.
Depending on the country from where you are applying, these documents may be submitted in either English, Portuguese, or the language where the Portuguese consulate is located
Step 2: Fill Out the Visa Application and Cover Letter
Fill out the Application for National Visa form. You will have to provide detailed and accurate personal information and details about your trip and finances. Please, make sure that everything you say is in accordance with the supporting documentation.
Along with the application form, each applicant will have to provide a cover letter containing at least the following. The cover letter must be signed and dated by the applicant or legal guardian.
Your personal details
Reasons for applying for the temporary residence in Portugal
Any connection you have with Portugal (family, friends, property, etc.)
Where you plan to stay while in Portugal and the type of accommodation you will use
Means of financial support for yourself and any dependents during your time in Portugal
Also we advise to include a list and explanation of all the documents supporting your application
Each applicant will need their own cover letter, but cover letters for dependents are likely to be shorter and refer to the documentation of the principal applicant. All cover letters should be signed and dated by the applicant or their legal guardian.
Step 3: Submit Your Application
To submit your application you will have to schedule an appointment at the Portuguese embassy or consulate. For US-based applicants, you need to schedule an appointment in a VFS office within your area. The procedure for submitting your application may vary depending on your location, so please make sure you follow the instructions of your local embassy/consulate or VFS office.
On the day of the appointment, make sure you bring all the original supporting documents plus photocopies. For US-based applicants, you can find more information here about what to expect during your appointment.
At this point you will be required to pay a non-refundable visa application fee of around $100 USD.
Step 4: Wait for the Visa Approval
For US-based applicants it usually takes in between 3-4 months for a decision to be made regarding your application, though this may vary. You can track the progress of your application HERE. Once the decision is made, you will be notified by email.
After the visa is approved, your passport and visa can be collected from the same location where you submitted your application, or it will be sent by secure post to your home address if you requested this option at the time of your application.
Step 5: Residence Permit
From the day you enter Portugal, you will have 4 months to schedule an appointment and apply for your residence card at Agência para a Imigração e Mobilidade Académica (AIMA).
For the appointment you must bring all the documents that you submitted supporting your initial visa application. In addition, at this stage, you will also need to provide proof that you have a NIF and a Portuguese Bank Account. You must also submit a new application form, which is different from your original visa application form. This form is in Portuguese.
For this appointment you will be expected to pay a fee of $180 USD. Permits take about two weeks to process and will be sent to your home address in Portugal.
Need help applying? Our visa experts are here to help!
NIF (Número de Identificação Fiscal)
The NIF is a tax identification number necessary for many transactions in Portugal, including compliance with your tax obligations, opening a bank account, signing rental agreements, signing services contracts such as cell phone or internet and more. But more importantly, the NIF is essential for your residence permit application once you are in Portugal. You can do it remotely through a representative (we can assist you) or in person. If you opt to get it in person, this is how you do it.
Step-by-Step Process:
Visit the nearest Tax Office (Autoridade Tributária e Aduaneira):
Locate a local Tax Office. We advise making an appointment in advance if possible.
Required Documents:
Passport or EU ID card: Bring your valid identification.
Proof of Address: If you're from outside the EU, you might also need proof of address in your home country and in Portugal.
If you are applying as a non-EU/EEA/Swiss national who is not a Portuguese resident by law you will need to appoint a fiscal representative for your NIF application.
Submit Application:
Go to the Tax Office with your documents and request a NIF. You will fill out a form provided by the office.
Receive NIF:
The NIF is usually issued immediately and given to you on a piece of paper.
Need help applying? Our immigration experts are here to help!
Opening a Portuguese Bank Account
You must open a bank account in Portugal in order to get your residence permit, and you can open your bank account after you get your NIF. The process is not as difficult as it seems. Here's what you do:
How to Open a Bank Account in Portugal
Choose a Bank:
Choose a bank that aligns with your needs. Portugal offers a variety of banking options for both locals and foreigners, including traditional banks like Caixa Geral de Depósitos and Millennium BCP, as well as digital banks such as N26 and Activo Bank. Digital banks are gaining popularity in Portugal due to their convenience, lower fees, and innovative features. They offer easy online account setup, comprehensive digital banking services, and user-friendly platforms, making banking more accessible and efficient.
Gather Required Documents:
Identification: Passport or EU ID card.
NIF: Your Portuguese tax identification number.
Proof of Address: Utility bill, rental agreement, or official document showing your address.
Proof of Income: This can be a job contract, recent pay slips, or a declaration from your employer.
Residency Permit: If applicable.
Fill Out Application:
Complete the bank's account opening forms. Staff should be able to guide you through the process.
Initial Deposit:
Some banks require an initial deposit to open the account. This amount varies by bank.
Account Activation:
Once the application is approved, the bank will activate your account, and you will receive your bank details and debit card.
Required Documents for the Portugal Retirement (Passive Income) Visa
To apply for the Portugal Retirement (Passive Income) Visa, several documents are required.
National Visa Application - Filled and duly signed by applicant or legal guardian
Valid Passport – must be valid for at least 3 months after the estimated date of return
Photocopy of Passport – copy of the first page of your passport which includes personal information. Can be in color or black and white
Passport Photo – 2 recent passport photos in color, with white background, taken recently, head-on, wearing no accessories
Cover Letter – letter signed by applicant specifying reason for settling in Portugal, intended area of residency and type of accommodations (rental, purchase of private property, or family home.
Proof of Means of Subsistence - Proof of sufficient Foreign Passive Income. Provide the past 3 months bank statements including, evidence of pensions, rental income, dividends, bank interest, etc. Yearly minimum income 2024: €9,840 (single), €14,760 (couple), 17,712 (couple + child).
Proof of Sufficient Savings - Main applicant should maintain savings in a Portuguese bank account during the whole application process: €9,840 (single), €14,760 (couple), 17,712 (couple + child)
Criminal record certificate - issued by the competent authority of the country of the applicant’s nationality or of the country where the applicant has resided for over a year (except for applicants under sixteen). In the case of US-based applicants this certificate must be issued by the FBI. This document must be requested with an apostille. The certificate must be issued within the last 3 months prior to the visa application and If it is not in Portuguese or English, a certified translator must translate it.
Proof of accommodation - Deed or 1 year lease agreement.
Health Insurance – Valid health insurance that covers medical expenses in Portugal
Proof of Relationship to Dependents (if applicable) – birth certificates, marriage license (certified by apostille)
*Please note that many documents may require official translation and apostille. We provide these along with many other services to make the application process quick, seamless, secure and simple for you. Book your free consultation today!
Popular Cities for Retirees in Portugal + Statistics
All retirees should know the basic stats for these popular cities in Portugal.
 Lisbon Cost of Living: $3,700/mo Internet Speed: 121 Mbps Population: 550,000 |  Porto Cost of Living: $3,200/mo Internet Speed: 88 Mbps Population: 210,000 |  Portimão Cost of Living: $2,370/mo Internet Speed: 36 Mbps Population: 56,000 |
 Lagos Algarve Cost of Living: $2,370/mo Internet Speed: 39 Mbps Population: 22,000 |  Ericeira Cost of Living: $3,250/mo Internet Speed: 71 Mbps Population: 10,000 |  Madeira Cost of Living: $2,070/mo Internet Speed: 66 Mbps Population: 110,000 |
Cost of Living
Here’s a breakdown of typical costs in Portugal. These numbers are based on the average cost of living in Lisbon, the capital of Portugal.
1 Bedroom Studio Rent in the Center | $1,718 per month |
Airbnb | $89 per night |
Dinner | $12 |
Beer in a café (0.5L) | $2.68 |
Co-working desk rental | $255 per month |
Mobile Data (~10GB) | $15 per month |
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Need help applying? Our immigration experts are here to help!
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