One of the most common questions we hear from people considering a move to Portugal is about the financial requirements. Many applicants researching visas such as the D7 or D8 want to understand how much money they need to show and how these requirements are assessed.
While the exact situation can vary depending on the visa type and personal circumstances, there are a few general principles that apply to most Portuguese residence visa applications.
Minimum Financial Requirement
Portugal uses the national minimum wage as a reference point when calculating the minimum financial requirement for residency visas.
Currently, applicants are generally expected to demonstrate funds equivalent to 12 months of the Portuguese minimum wage. At the moment this means showing just over €11,000 available for a single applicant.
Additional family members usually require extra funds:
-
Spouse or partner: approximately 50% of the main applicant amount
-
Dependent children: approximately 30% per child
These funds are typically demonstrated through bank statements or balances held in a Portuguese bank account.
How Are Financial Requirements Verified?
When submitting a visa application, the financial requirement is usually verified through supporting documentation. This commonly includes recent bank statements, proof of income, and confirmation that the funds are readily available.
In many cases, applicants choose to transfer funds to a Portuguese bank account before submitting their application, although this is not always strictly required depending on the visa category and the consulate handling the application.
Immigration authorities generally look for evidence of financial stability rather than temporary transfers of funds made shortly before submitting an application.
Do the Funds Need to Stay in the Account?
In most cases, the funds are expected to remain available during the application process to demonstrate financial stability. Authorities want to ensure applicants have sufficient resources to support themselves while living in Portugal.
Once residency is granted and the applicant has established themselves in Portugal, these funds can typically be used as needed.
Income vs Savings
Another area that often causes confusion is the difference between income and savings.
Different visa categories focus on different financial sources.
The D7 visa generally focuses on passive income sources such as pensions, rental income, dividends, or long-term investments.
The D8 visa (often referred to as the digital nomad visa) focuses on active income earned remotely, usually through employment or freelance work for companies located outside Portugal.
Savings can still play an important role in both cases, as they help demonstrate financial stability and the ability to support yourself during the relocation process.
What About Accommodation?
Another key requirement for most visa applications is proof of accommodation in Portugal.
This can typically be demonstrated through:
-
A long-term rental agreement
-
A property purchase
-
In some cases, a host declaration from someone legally residing in Portugal
The exact documentation accepted may vary depending on the applicant’s situation and the location where the visa application is submitted.
Do the Financial Requirements Change?
Yes. Because the financial requirement is based on the Portuguese national minimum wage, the required amount can change from year to year.
When the minimum wage increases, the minimum financial threshold for visa applications may also increase slightly. For this reason it is always recommended to verify the current figures when preparing an application.
Planning Ahead
Preparing the financial side of a visa application is often one of the most important steps in the relocation process. Opening a Portuguese bank account, arranging accommodation, gathering financial documents, and preparing supporting paperwork can take time.
Starting the preparation process early can help avoid delays and make the application process significantly smoother.
For anyone researching a move to Portugal, understanding these requirements early can make the overall relocation journey much easier to navigate.
