Would stocks or bonds qualify for that? Or do I need to prove I am a remote employee at a company?
The remote worker visa is a kind of visa for the ones who have an employment relationship or provision of services that allow them to work remotely. To obtain this type of visa, it is a requirement to have an average monthly income of at least four national minimum wages in the last three months, which corresponds to a total of EUR 3040.
Passive income is a requirement of the D7 visa and for that any dividends, interest, rents, royalties will qualify. Under the Digital Nomad Visa - a different kind of application - the relevant condition is to have and maintain a labor contract or services agreement with a foreign entity, allowing the applicant to perform remote work from Portugal with an average salary of €2.820,00 per quarter.
The D7 Visa can be applied to by those who are able to show evidence and documentary proof of income from both movable or immovable property - that is to say: dividends, interest, royalties, real estate and retirement pensions are the most commonly used for the purposes of an application under this specific type of Residence Visa. Financial investments are also accepted, such as stocks and bonds (provided that you can demonstrate the rentability throughout a certain period of time). In terms of income derived from remote work, please note that, from October 30th onwards, this specific type of income is no longer within the D7 scope, but of the Digital Nomad Visa, recently launched by the Portuguese government and its immigration authorities.
Until the change in law no. 23/2007, of July 4th, the main alternative for digital nomads was the D7 visa, aimed at foreigners who could prove they had regular income that allowed them to stay in Portugal (stable passive income from, for example, real estate rents, pensions, social security, investments, etc.). In fact, because there was no specific institute for these situations, Portuguese authorities and foreign citizens resorted to this type of visa to fill the gap in the law, due to the changing world reality. However, the need to create a specific visa for these situations was finally recognized, since there were many applicants who were left out because they did not meet all the requirements for the D7 visa. In this way, in November 2022, the seventh amendment to Regulatory Decree nº 84/2007, of November 5, came into effect, regulating the processing process and starting the attribution of this type of visa. Thus, in addition to the general documentation required for the granting of a visa or residence permit, in the case of workers with an employment contract (in subordinate form), will be required to present documentation related to the exercise of their activity abroad, namely, a promise or contract of employment, a statement from the employer proving the employment relationship in cases of subordinate employment, proof of average monthly income and a document proving their fiscal residence. In the case of self-employed citizens, it will be necessary to present the company contract, proposal or contract for the provision of services, document proving the provision of services to one or more entities and document proving the fiscal residence. Currently, it is enough to be a worker from outside the European Union and the Schengen area who wants to come to Portugal, works remotely outside the national territory and earns more than 4 times the minimum wage (€ 3.040, currently). This visa is currently regulated by article 61-B of law nr. 23/2007, of July 4th. If accompanied by an adult (for example: wife, adult child, parents over 65 years old), 50% of the Portuguese minimum wage must be added and for each minor child, 30% of the referred value must be added.
Passive income is the appropriate type of income for D7 visa. For remote workers visa, please consider the following: Remote workers or digital nomads may apply for a temporary stay visa or a residence visa based on a professional activity remotely exercised. The applicant must: 1) be an employee or self-employed person; 2) have an employment contract or service provision contract signed with a natural or legal person domiciled or headquartered outside the national territory, presenting the supporting documents required by law; 3) prove average monthly earnings from professional activity in the last 3 months, in the minimum average amount of four times the guaranteed minimum monthly remuneration, that is, the average monthly amount must correspond to at least €3,040.00.
There is no specific amount. The law requires to have the minimum means of subsistence in Portugal, so we are talking of around 12.000€/year income. The bonds and stocks will not qualify for such digital nomad visa but it qualifies for a D7 visa.
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