Case Study
Date
December 2023
Type of case
Immigration
Crypto Investor Defies the Odds: Victor's Path to a Portuguese Visa Victory
Situation Overview
Victor, a citizen of Belarus, sought to apply for a visa to Portugal. He began his immigration planning with our law firm from the early stages of his process. As an investor in cryptocurrencies, Victor was looking to obtain a D7 visa as someone who lives off personal income. Moreover, he was the main provider for his family, which included his wife and two young children. When Victor initiated his planning with us, the armed conflict between Ukraine and Russia had just begun, significantly affecting his ability to proceed with the visa application. As a Belarusian citizen, the competent consulate for submitting his visa request was in Moscow, which had temporarily shut down. Additionally, due to economic sanctions imposed on Russian and Belarusian nationals, Victor was unable to open a bank account in Portugal, a crucial step in his application process.
Our Strategy
Our firm conducted an extensive feasibility analysis for Victor and his family to move forward with their visa applications to Portugal. It was essential to find alternatives to both the jurisdictional competence of the consulate responsible for reviewing the family’s request and to solve the issue of proving sufficient funds according to Portuguese immigration requirements.
Since Victor was determined to leave Belarus, we suggested he apply for a temporary work visa in another country, which would allow us to use a different consulate for his family’s visa application. He then obtained a temporary work visa in Poland and moved there with his wife and children, enabling us to submit the D7 visa request through the Consulate in Warsaw. In addition, Victor managed to open a bank account in Poland before the economic restrictions on Russian and Belarusian citizens were fully enforced.
Regarding the bank account issue, our firm collected several official denials from Portuguese banks, citing Victor’s nationality as the reason for refusing to open an account. We presented these documents to the Warsaw consulate and the Ministry of Foreign Affairs, requesting that Victor be allowed to prove his means of subsistence using his Polish bank account, which operated in euros.
Despite these practical solutions, a significant question remained: Victor’s income derived from cryptocurrency investments. At the time, there was no legal provision or public guidance confirming whether cryptocurrency investments could be considered valid for a D7 visa application. Therefore, we submitted Victor’s bank statements along with his earnings reports from the cryptocurrency investment platform, showing his actual income in euros. Additionally, Victor had recently begun working as a consultant for a technology company, which also paid him in cryptocurrency. However, the nature of his consultancy work was related to intellectual property, a type of income that is recognized for D7 visa purposes. This aspect was carefully incorporated into our strategy to strengthen his case.
Considering the complexity of Victor’s situation, our firm maintained close communication with the Warsaw consulate, constantly consulting on the required documentation and local visa requirements. Some consulates may request different documents than those listed on general government websites, so this ongoing dialogue ensured that the documentation we submitted, as well as how we structured Victor’s profession, income, and means of subsistence, met all necessary criteria.
Conclusion
Two months after submitting the visa application, we received positive news: Victor and his family’s visas were approved. No additional documents were requested by the authorities, nor were any clarifications needed regarding the origin or acceptability of cryptocurrency as a valid source of income for the D7 visa. Victor and his family are now residents of Portugal with a two-year residency permit, renewable for an additional three years. After this period, they may also apply for permanent residency or even Portuguese citizenship, provided they meet the necessary requirements.
Are you facing complex immigration challenges like Victor and his family? Our legal expertise can help you navigate through obstacles and find innovative solutions. Contact us today to begin your journey with the support of a law firm that knows how to turn challenges into success stories. Let us guide you through your visa application and ensure a smooth process every step of the way.
