To get a start-up visa in Portugal, your business must be high-tech oriented, the business must create a new number of jobs in the country (at least 5 for 2 years) and have the potential for an annual turnover of 325,000 euros (or asset value for the same amount).
Therefore, the Startup Visa to Portugal program. This is an opportunity for progressive people from other countries to open a branch of their start-up or to establish one from scratch. The uniqueness of the program lies in the fact that to obtain a start-up visa, an innovative idea is enough that is useful for the country’s economy.
Portugal is a country of high technologies and great opportunities. It is a European state that is popular with investors and business immigrants. The country is ranked 25th among 190 countries for attractiveness to do business, according to the Doing Business rating from the World Bank.
A high image makes the country interesting enough for capital investments, which creates a favorable investment climate. The level of investment in real estate in 2019 increased by 20%. Besides, the most popular form of ownership is LDA. It is possible to open it remotely. Its authorized capital can start from 1 euro, and the owner can be only one.
With a start-up visa, a business immigrant has the same privileges and benefits as foreign investors. A plus for business immigrants can also be rather low-interest rates on loans. The preferential tax regime contributes to the expansion and development of the Portuguese startup ecosystem. For non-residents, a personal tax on income received in Portugal (when working for hire or on pension income) is levied at a reduced rate of 25%.
Residence in the EU
By Portugal’s start-up visa, the country will grant you a residence permit and a work permit for up to 2 years. Then, you can renew it for three years at once.
Conditions for obtaining a Portugal startup visa
There is no time limit to get a start-up visa in Portugal for companies. The visa application can be submitted at any time of the year. The application can be made in Portuguese or English and sent through a special form on the official website: http://startupportugal.com/startup-visa
There are a number of must-have requirements for startup executives who intend to get a start-up visa:
- a person should not be a holder of a Schengen visa and residence in the European zone in the recent past;
- no criminal record;
- a person should have the age of majority;
- the availability of funds in a bank account in the amount of over 5,000 euros per year per person.
There are National Business Incubators throughout the country, which are linked into a single network. They review the applications of applicants for a startup visa in Portugal and take control of them. Experts assess the market potential of a startup, the possibility of creating jobs on its basis, the scalability of the business, the degree of innovation that the company promotes. The application must be accompanied by:
- a motivation letter to convince experts of the importance of your business for Portugal;
- identification documents;
- business plan and presentation of the future enterprise.
Advice from expert
Applicants for a start-up visa in Portugal must learn Portuguese or have a local lawyer because all documents should be translated into Portuguese. If you are going to apply for a Portugal startup visa, you can also use the services of immigration agencies. They can help you in the process of preparing a package of documents, applying for a start-up visa to Portugal, and completing other formalities.
Many of these agencies provide registration solutions for a start-up visa for Portugal and also assist with the resettlement procedure and preparation of documents for setting up a company in Portugal.
Portugal is a great country to do business in Europe. Thanks to state policy, the state occupies a leading position in terms of business indicators. Anyone with an innovative business idea can get a Portugal startup visa. For this, you need to provide a high-tech oriented business plan, collect the necessary documents, have enough money in the account, and apply.