EnglishThe wisdom in business opportunities is to find the ones that are less common and that the way to them is not paved. If you think about the high-tech world, Portugal will not be among the first countries to jump to your head. You will be surprised to find that Portugal is currently undergoing rapid change and creating opportunities that are worth recognizing as high-tech entrepreneurs. One of them is a visa for start-ups.
What is a Startup Visa?
A visa allows entrepreneurs from non-EU countries to do business in Portugal and transfer or develop their startup in the country.
Who will the start-up visa suit?
For entrepreneurs who want to start a company or who already have a registered business in a country that is not part of the European Union.
Who is eligible for a start-up visa?
• Entrepreneur over the age of 18
• No criminal record
• Has an amount of at least EUR 5,147 in the bank account for one year
• Non-permanent resident in one of the member states of the Schengen Convention
Conditions for start-up:
1. The start-up must be technology-focused and focus on one of the following areas: information technology (IT), electronics, biotechnology and pharmacology, communications and media, energy, industrial products, medicine / health or trade and consumer products.
2. The start-up should commit to a technology incubator supported by the Portuguese government and an incubator that is a partner in R&D facilities.
3. The start-up must carry out a minimum annual turnover of 325,000 euros per year within five years of joining the chosen technological field.
4. The start-up needs to create and develop an innovative business venture.
5. The new start-up must have the potential to create new jobs.
6. The start-up should go through a running period of 3 years. If you have been refused a project, the running fee will be refunded and you will have to invest in another project.
7. The amount of the investment is 175,000 Euros, of which 25,000 Euros will be used as share capital in a Portuguese business venture and for the payment of the required services of the business.
8. For each new Portuguese venture, the customer will return around 95% and stand at around 5% of the stock.
The process of applying for a start-up visa:
The application is submitted through the Startup Visa Portugal website.
The application should include:
• CV
• Passport photo
• The idea of the start-up
After submitting the documents, you will get a confirmation that the request has been received. This means that the incubator has approved it and will then send a message from the Startup Visa Portugal website regarding the approval. Next, schedule a video call with the Portuguese incubator.
The incubator will send an instruction form that must be filled out and transferred the incubator fee to a secure trust account. The application is then submitted to the Portuguese Authority and within 15 days an interview will be scheduled at the consulate. Next, within 90 days you will be scheduled to visit Portugal to meet with local authorities and issue a residence permit. You will also be able to meet with the incubator and government-supported R&D facilities for incorporation and strategic planning. When all these processes are completed, you will be able to stay in Portugal unlimitedly.
The visa renewal is required when it expires. The application can be submitted at any time during the year.
If you are an entrepreneur looking for business opportunities in a special country, do not miss Portugal!
Do you have more questions? Contact us now!
