Does the consulate deduct my monthly mortgage payment from my rental income when calculating my monthly passive income? Do they even care to know about my debt in the U.S.?
Hi @relaxmind6619 - Check our weekly sessions on Thursday evenings for updates about AIMA - “Moving to & Living in Portugal” Expert Answers to Your Questions - LIVE. Our Premium Members can attend and ask questions to our experts in law, immigration and more - expatsportugal.com/calendar-whats-on/ We also have a community forum where anyone can come and search for information or ask a new question to our other community members - expatsportugal.com/community/
Thank you for the video! I have a question: Can my passive income be from a family member who’s a sponsor if they write a letter to say that they will provide income for me?
I have one question: What if the d7 visa holder will be absent from Portugal for more than 6 consecutive months for serious reasons, would they renew the permit after 2 years? A genuine explanation of why he/she was away for a while would be considered?
@@OptikC The minimum amount of passive income is very low, the equivalent to the portuguese minimum wage, which is currently (in 2023) 886 Euros per month or 10,640 per year. If you don't transfer that minimum amount to Portugal each year, you'll be in trouble when renewing your visa. * Minimum wage goes up every year in January, so it will increase.
Hi, I would like to apply for a D7 visa with earnings from real estate income, is the requirement income only? Or is it the final profit after deducting expenses?
After expenses, the net amount you'd be left with to live in Portugal. The application process takes 5 years, so if you do not provide the correct information, or use creative ways... your deception will be seen by the immigration department, through the NIF number. They'd be able to see that the income you declared for your visa did not materialised, never entered Portugal, and was not declared in your tax declarations. Do you think your visa would be renewed??? Do you know WHY so many expats leave Portugal after 2 years??? Maybe they used creative ways to show passive income, but... they could not keep up the pretence when the visa was due to be renewed. Note: when you become a resident in Portugal, you'll also become a taxpayer in Portugal, and you'll have to declare all your income from anywhere in the world, in Portugal. If you tell the immigration services you have a certain income but it does not show on your tax file, how are you going to solve that puzzle???
@@donnacosta5633 I do not intend to cheat on my income to the Portuguese government. What I want to know is if it is income in real estate investments, is the income requirement just income or is it profit excluding expenses? Expenses here are things like loan repayments, advertising costs for vacancies, etc. If it is just income, then I will apply for a D7 visa, if they require profit excluding expenses, then I will not apply.
@@sosukekawasaki Apologies, I did not mean to imply you intend to cheat, I just got carried away with a comment from another post. As I see it: the portuguese government requires that you can show proof of minimum amount of passive income to live in Portugal, and that income has got to be comming into your bank account in Portugal, from outside Portugal. That minimum income is the equivalent to the portuguese minimum wage which is in 2023 is 886 Euros per month, or 10,640 Euros per year. Plus more for spouse & dependents. If you have to deduct expenses from your passive income, the net amount you are left with to transfer to your account in Portugal to live on, should still be equivalent to 886 Euros per month, or 10,640 per year at least. If you don't transfer that minimum amount to Portugal each year, you'll have problems renewing the visa.
Yes, where did that 50,000 come from? I haven't seen or heard this before??? Also, for the Portuguese bank account, most sources I've seen are the min. passive amount x 12 months, not x 24 months: that would be 9,120, not 18,000! Are these Ei! preferences or VFS preferences or really required by Portuguese law? Are these "leftovers" from the days when D-7 included both passive income and other (e.g., investment) income (now in D-8)?
@@maletu I have triple checked all of my other sources and have not been able to recieve any confirmation that 50,000 euros is needed in savings nor that a bank deposit of 24 mounts passive income is needed.
Hi, can I open a Portuguese bank account now, when not in Portugal and still in my home country of South Africa, even a few years before I intend to apply for the D7 Visa?
Hello am from Nigeria I have transport company,rental properties and into agriculture I make around 800k a month which is about 900euro per month can I apply for the D7 visa or am I qualified because I don’t need to be in Nigeria I can be anywhere and the money will still be coming thanks
What happens if I stay less than 6 months per year in Portugal after the visa is granted? Do you i lose it? Or is there any way to request a stay less than 6 months to avoid losing the Visa status?
Well, it looks it would cost a person at least $70,000 to move to Portugal That’s a bit out of reach for me- unless I inherited money or won the lottery.
I think it’s about the money that generates passive income. For example you may have multiple avenues to generate that passive income such as rent from property, or business income where you are not participating actively. So in the collection of such income streams one of the passive income stream should be the income coming from investment of cash for example placement in a bank and receiving interest. That’s my understanding.
Great information. Although, I think the team would benefit greatly if they hire an English speaking professional to write their material. There are English grammar mistakes in their content.
I disagree, on two counts. (1) They are speaking ad lib, in a conversation, not delivering a script. (2) In an English dominant culture, like the US, "professional" = perfect English. In a multilingual culture or where you deal with speakers of 4 or 5 or more languages, I think professionalism is more about being easily understood and conveying accurate information, less about perfection in any one of those languages.
![US Expat Taxes in Portugal - all you wanted to know [ Offshore Tax ]](http://i.ytimg.com/vi/sDG6B_cFC88/mqdefault.jpg)
Have an amount of $50,000 to put in the Portuguese bank. That’s a lot of money for many of us. Are you sure that’s correct?
SS in the US isn’t considered a pension but a benefit. That’s why people might ask that kind of question.
How do I get a zoom meeting with the immigration lady that first spoke ? I did t get her name . Thank you !
Does the consulate deduct my monthly mortgage payment from my rental income when calculating my monthly passive income? Do they even care to know about my debt in the U.S.?
Hi @relaxmind6619 - Check our weekly sessions on Thursday evenings for updates about AIMA - “Moving to & Living in Portugal” Expert Answers to Your Questions - LIVE. Our Premium Members can attend and ask questions to our experts in law, immigration and more - expatsportugal.com/calendar-whats-on/
We also have a community forum where anyone can come and search for information or ask a new question to our other community members - expatsportugal.com/community/
Hi Dear Team, Q. for my favorite lawyer & gentleman, Daniel. Do consulates process & decide on D7 applications or SEF in Portugal?
Thank you for the video! I have a question:
Can my passive income be from a family member who’s a sponsor if they write a letter to say that they will provide income for me?
Hi I have savings in the amount of 200,000€. Is this considered to be a passive income?
I have one question: What if the d7 visa holder will be absent from Portugal for more than 6 consecutive months for serious reasons, would they renew the permit after 2 years? A genuine explanation of why he/she was away for a while would be considered?
An issue for me too.
Did they renew? @@Garcia061
They'd loose the right to be in Portugal and would have to apply again. Fresh application for a new visa.
How many years tax return ?
Is passive income from a residential property gross profit? Would mortgage repayments have to be deducted?
If the latter is true, then somebody might get their D7 visa for the first two years, then not get a renewal because interest rates have increased.
@@OptikC The minimum amount of passive income is very low, the equivalent to the portuguese minimum wage, which is currently (in 2023) 886 Euros per month or 10,640 per year.
If you don't transfer that minimum amount to Portugal each year, you'll be in trouble when renewing your visa.
* Minimum wage goes up every year in January, so it will increase.
Hi, I would like to apply for a D7 visa with earnings from real estate income, is the requirement income only? Or is it the final profit after deducting expenses?
After expenses, the net amount you'd be left with to live in Portugal.
The application process takes 5 years, so if you do not provide the correct information, or use creative ways... your deception will be seen by the immigration department, through the NIF number. They'd be able to see that the income you declared for your visa did not materialised, never entered Portugal, and was not declared in your tax declarations. Do you think your visa would be renewed??? Do you know WHY so many expats leave Portugal after 2 years???
Maybe they used creative ways to show passive income, but... they could not keep up the pretence when the visa was due to be renewed.
Note: when you become a resident in Portugal, you'll also become a taxpayer in Portugal, and you'll have to declare all your income from anywhere in the world, in Portugal. If you tell the immigration services you have a certain income but it does not show on your tax file, how are you going to solve that puzzle???
@@donnacosta5633
I do not intend to cheat on my income to the Portuguese government. What I want to know is if it is income in real estate investments, is the income requirement just income or is it profit excluding expenses? Expenses here are things like loan repayments, advertising costs for vacancies, etc.
If it is just income, then I will apply for a D7 visa, if they require profit excluding expenses, then I will not apply.
@@sosukekawasaki Apologies, I did not mean to imply you intend to cheat, I just got carried away with a comment from another post. As I see it: the portuguese government requires that you can show proof of minimum amount of passive income to live in Portugal, and that income has got to be comming into your bank account in Portugal, from outside Portugal.
That minimum income is the equivalent to the portuguese minimum wage which is in 2023 is 886 Euros per month, or 10,640 Euros per year. Plus more for spouse & dependents.
If you have to deduct expenses from your passive income, the net amount you are left with to transfer to your account in Portugal to live on, should still be equivalent to 886 Euros per month, or 10,640 per year at least.
If you don't transfer that minimum amount to Portugal each year, you'll have problems renewing the visa.
Did she just said the minimum 50,000€ of savings and investment when you are already showing passive income? That is alot !
Yes!!! I need to know the answer to that question too. This is the first time that I've heard about a miminum savings requirement.
Yes, where did that 50,000 come from? I haven't seen or heard this before??? Also, for the Portuguese bank account, most sources I've seen are the min. passive amount x 12 months, not x 24 months: that would be 9,120, not 18,000!
Are these Ei! preferences or VFS preferences or really required by Portuguese law? Are these "leftovers" from the days when D-7 included both passive income and other (e.g., investment) income (now in D-8)?
@@maletu I have triple checked all of my other sources and have not been able to recieve any confirmation that 50,000 euros is needed in savings nor that a bank deposit of 24 mounts passive income is needed.
@@bark22Me, too.
That is a lot of money! Your average US citizen doesn’t typically have an extra $50,000 hanging around.
Does my wife’s name have to be on my Portugal bank account if I am the financial source for both of us while we apply for D7 visa ?
Yes.
Can you confirm if Ei support D7 visa for Indian Citizens ?
Hi, can I open a Portuguese bank account now, when not in Portugal and still in my home country of South Africa, even a few years before I intend to apply for the D7 Visa?
You can't have a bank account in Portugal if you are not a resident in Portugal.
How much does Ei charge for the D7 visa application service?
Too much 😂
Thank you that was GREAT
Hello am from Nigeria I have transport company,rental properties and into agriculture I make around 800k a month which is about 900euro per month can I apply for the D7 visa or am I qualified because I don’t need to be in Nigeria I can be anywhere and the money will still be coming thanks
What happens if I stay less than 6 months per year in Portugal after the visa is granted? Do you i lose it? Or is there any way to request a stay less than 6 months to avoid losing the Visa status?
You loose it. But you can apply for a tourist visa for any short period.
Well, it looks it would cost a person at least $70,000 to move to Portugal That’s a bit out of reach for me- unless I inherited money or won the lottery.
I think it’s about the money that generates passive income. For example you may have multiple avenues to generate that passive income such as rent from property, or business income where you are not participating actively. So in the collection of such income streams one of the passive income stream should be the income coming from investment of cash for example placement in a bank and receiving interest. That’s my understanding.
I'm grateful for your help and guidance. ZACK
Great information. Although, I think the team would benefit greatly if they hire an English speaking professional to write their material. There are English grammar mistakes in their content.
I agree. It would sound more polished.
I disagree, on two counts. (1) They are speaking ad lib, in a conversation, not delivering a script. (2) In an English dominant culture, like the US, "professional" = perfect English. In a multilingual culture or where you deal with speakers of 4 or 5 or more languages, I think professionalism is more about being easily understood and conveying accurate information, less about perfection in any one of those languages.
so what.