Temporary visa for financiers question

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Space Cat
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Re: Temporary visa for financiers question

Post by Space Cat » Mon Mar 26, 2018 9:37 am

tiagoabner wrote:
Mon Mar 26, 2018 8:08 am
You know, the problem with the approach you're describing is the "apply for the Visa after you arrive" part. Portugal isn't Chile. The D2 Visa is meant to be applied for at a Portuguese embassy outside of Portugal, as stated clearly at all Portuguese embassy websites.
I'm quoting the sources that have never heard about Chilean immigration. These are groups with tens of thousands of members where people tried lots of stuff through decades – similar to this forum but many times more popular.

Their collective opinion: you generally can't get D visas from embassies at least in Eastern European countries. As a bonus: you have higher chances of not getting the Schengen tourist C visa to any EU country in future after being denied business/work D-visa.

I'm glad (not a sarcasm) that it works for Brazilians.

mem
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Re: Temporary visa for financiers question

Post by mem » Mon Mar 26, 2018 11:16 am

hoperto wrote:
Fri Mar 23, 2018 9:41 pm
Thanks for your reply! at last i get this info.
Registering a company and hiring ourselves isn't very creative :) just in some countries this approach works, in some don't.
In my email i simply describing my situation in details cause there is a lot more to it, i guess that scares people :D

May i ask - is there a "default" way for entrepreneurs / self-employed to get a residency? I don't want to buy stocks just for a visa purposes, have a better use for my investment capital. Brief background - activities & capital in tech. Capital - shares is startups (no dividends), bitcoins.
Hoperto - are you and your wife us citizens? Do you have a sole proprietorship or LLC/Scorp in the US?

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tiagoabner
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Re: Temporary visa for financiers question

Post by tiagoabner » Mon Mar 26, 2018 12:21 pm

Space Cat wrote:
Mon Mar 26, 2018 9:37 am
tiagoabner wrote:
Mon Mar 26, 2018 8:08 am
You know, the problem with the approach you're describing is the "apply for the Visa after you arrive" part. Portugal isn't Chile. The D2 Visa is meant to be applied for at a Portuguese embassy outside of Portugal, as stated clearly at all Portuguese embassy websites.
I'm quoting the sources that have never heard about Chilean immigration. These are groups with tens of thousands of members where people tried lots of stuff through decades – similar to this forum but many times more popular.

Their collective opinion: you generally can't get D visas from embassies at least in Eastern European countries. As a bonus: you have higher chances of not getting the Schengen tourist C visa to any EU country in future after being denied business/work D-visa.

I'm glad (not a sarcasm) that it works for Brazilians.
I'm also not saying that's not true. I just happen to haven't ever searched for sources in English about immigration to Portugal due to having access to lots of content in Portuguese. Maybe that's an Eastern European thing, I'm not sure. Did these posts reflect the recent changes in Portuguese immigration law that are valid since the middle of 2017?
I'm NOT your lawyer, accountant or financial planner. All information at this post should be considered for your entertainment only. Consult a professional before making a decision regarding whatever topic was mentioned in this post.

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Space Cat
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Re: Temporary visa for financiers question

Post by Space Cat » Mon Mar 26, 2018 2:27 pm

tiagoabner wrote:
Mon Mar 26, 2018 12:21 pm
I'm also not saying that's not true. I just happen to haven't ever searched for sources in English about immigration to Portugal due to having access to lots of content in Portuguese. Maybe that's an Eastern European thing, I'm not sure. Did these posts reflect the recent changes in Portuguese immigration law that are valid since the middle of 2017?
Sure, I understand – just pointed that it wasn't a Chilean immigration bias. 🙂

I was reading the latest threads from 2017-2018 and also a group in Telegram with messages from the last week. Unless everybody missed those changes, the rules seem to be similar.

hoperto
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Re: Temporary visa for financiers question

Post by hoperto » Mon Mar 26, 2018 8:59 pm

mem wrote:
Mon Mar 26, 2018 11:16 am
Hoperto - are you and your wife us citizens? Do you have a sole proprietorship or LLC/Scorp in the US?
Nope, i'm from the ex-USSR country. Currently have an active llc in Hong Kong, but it doesn't seem to be counted.
Space Cat wrote:
Mon Mar 26, 2018 9:37 am
Their collective opinion: you generally can't get D visas from embassies at least in Eastern European countries.
That sounds very strange. Can you please share the link to that community? (can't PM you). I got in touch with the 2 Portuguese embassies where i can apply, but both insist that i must wait until they reply me by email.

mem
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Re: Temporary visa for financiers question

Post by mem » Mon Mar 26, 2018 9:21 pm

hoperto wrote:
Mon Mar 26, 2018 8:59 pm
mem wrote:
Mon Mar 26, 2018 11:16 am
Hoperto - are you and your wife us citizens? Do you have a sole proprietorship or LLC/Scorp in the US?
Nope, i'm from the ex-USSR country. Currently have an llc in Hong Kong, but it doesn't seem to be counted.
Space Cat wrote:
Mon Mar 26, 2018 9:37 am
Their collective opinion: you generally can't get D visas from embassies at least in Eastern European countries.
That sounds very strange. Can you please share the link to that community? (can't PM you). I got in touch with the 2 Portuguese embassies where i can apply, but both insist that i must wait until they reply me by email.
Hoperto - if you have an llc in hong kong and can pay yourself a distribution or dividend from your llc then that would qualify as periodic income. Distributions or dividends from a public or private company qualify as periodic income. I think if you can arrange to have the distribution be monthly at about 3k USD per month it should be fine when coupled with your regular savings/checking accounts for a rentista/retirement/periodic income visa. Llc's in the us allow one to divide the payouts of the llc between sone percentage of earned income/salary and distribution/dividend that is considered unearned income

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Re: Temporary visa for financiers question

Post by hoperto » Mon Mar 26, 2018 9:41 pm

mem wrote:
Mon Mar 26, 2018 9:21 pm
Hoperto - if you have an llc in hong kong and can pay yourself a distribution or dividend from your llc then that would qualify as periodic income. Distributions or dividends from a public or private company qualify as periodic income. I think if you can arrange to have the distribution be monthly at about 3k USD per month it should be fine when coupled with your regular savings/checking accounts for a rentista/retirement/periodic income visa. Llc's in the us allow one to divide the payouts of the llc between sone percentage of earned income/salary and distribution/dividend that is considered unearned income
Hey, thanks for this! Yep, i think i can arrange this. However if i start paying that just now - i doubt they'll perceive it as a stable/periodic income? i suppose in this case i have to wait around one year before applying?

mem
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Re: Temporary visa for financiers question

Post by mem » Mon Mar 26, 2018 10:09 pm

hoperto wrote:
Mon Mar 26, 2018 9:41 pm
mem wrote:
Mon Mar 26, 2018 9:21 pm
Hoperto - if you have an llc in hong kong and can pay yourself a distribution or dividend from your llc then that would qualify as periodic income. Distributions or dividends from a public or private company qualify as periodic income. I think if you can arrange to have the distribution be monthly at about 3k USD per month it should be fine when coupled with your regular savings/checking accounts for a rentista/retirement/periodic income visa. Llc's in the us allow one to divide the payouts of the llc between sone percentage of earned income/salary and distribution/dividend that is considered unearned income
Hey, thanks for this! Yep, i think i can arrange this. However if i start paying that just now - i doubt they'll perceive it as a stable/periodic income? i suppose in this case i have to wait around one year before applying?
You dont need to wait a year. You only need to show 3 months of documentation. You could provide what you can at the time of visa application...it will take them 3 months just to respond to your application where they may request additional months of statements or distribution declarations ar which point you can provide those and it will be adequate

As long as you do this in Chile and can stay put in chile while the processing happens (3 month response times) then it works to your benefit.

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Re: Temporary visa for financiers question

Post by Space Cat » Mon Mar 26, 2018 10:40 pm

hoperto wrote:
Mon Mar 26, 2018 8:59 pm
That sounds very strange. Can you please share the link to that community? (can't PM you). I got in touch with the 2 Portuguese embassies where i can apply, but both insist that i must wait until they reply me by email.
Sent you a PM.
mem wrote:
Mon Mar 26, 2018 9:21 pm
Hoperto - if you have an llc in hong kong and can pay yourself a distribution or dividend from your llc then that would qualify as periodic income. Distributions or dividends from a public or private company qualify as periodic income. I think if you can arrange to have the distribution be monthly at about 3k USD per month it should be fine when coupled with your regular savings/checking accounts for a rentista/retirement/periodic income visa. Llc's in the us allow one to divide the payouts of the llc between sone percentage of earned income/salary and distribution/dividend that is considered unearned income
Isn't there a problem that you are the owner of the company who's paying dividends to himself? I wonder how does the contract look in this case.

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Re: Temporary visa for financiers question

Post by mem » Mon Mar 26, 2018 11:11 pm

There is no exclusion based on that. The contract is not relevant. The documentation that must be demonstrated is the declaration and issuance of the dividend or distribution to the shareholder for the periodic income
Same as if you bought a monthly dividend ETF that declared and issued the dividend monthly. You show the declaration voucher ($3 a share on 1000 shares for example) and the bank statements showing the ingress of that dividend or distribution to your account for which you are providing statements.
My suggestion would be to have a separate llc bank account, which you probably already have that is not a personal account. You recieve payments for llc invoices into that llc bank account and then you make monthly distributions from the llc account into yoyr personal checking or savings account and you then show statements on your personal accounts for visa purposes and distribution statements that match the amounts deposited regulalry into your personal accounts

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Re: Temporary visa for financiers question

Post by hoperto » Tue Mar 27, 2018 12:31 am

2mem
Thanks! That is sounds like a valid plan. Most likely i can do all of that, will confirm with the legal firm in HKG.
Do you think we can make it the same way for my gf(not wife) through the same llc? what is the payment amount you would recommend? (i suppose you meant 3000$ for me + dependant. In our case it's 2 separate applications).

mem
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Re: Temporary visa for financiers question

Post by mem » Tue Mar 27, 2018 1:36 am

hoperto wrote:
Tue Mar 27, 2018 12:31 am
2mem
Thanks! That is sounds like a valid plan. Most likely i can do all of that, will confirm with the legal firm in HKG.
Do you think we can make it the same way for my gf(not wife) through the same llc? what is the payment amount you would recommend? (i suppose you meant 3000$ for me + dependant. In our case it's 2 separate applications).
I don't know about the gf part, particularly since she is not your legal wife or legal dependant (offspring)... I think she would need to qualify in her own right on her own visa, perhaps under a different visa type given her situation.
Ill pm you

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