Portugal has recently implemented a Visa Startup Program, one of the most breakthrough visa programs in Europe to boost entrepreneurship, attract investment, talent and innovation capacity.
The Startup Visa program quickly grants residence permits to entrepreneurs that do not own permanent residency in the Schengen area, and who intend to establish innovative businesses in Portugal, inviting them to create or move their startups to Portugal.
In order to apply to this program, entrepreneurs must:
– Show intention of developing business activity in goods production and international services;
– Create or move to Portugal companies and/or projects that are technology and knowledge related, foreseeing the development of innovative products;
– Prove that there are certified incubators interested in incubating the project;
– Demonstrate that the company will enable the creation of qualified jobs, besides the jobs for the entrepreneurs included in the program;
– Demonstrate that the company has the potential to reach, up to 5 years after the beginning of the incubator contract, a turnover of at least € 325.000,00 per year and/or obtain financial assets of more than € 325.000,00.
The assessment of economic and innovative potential is based on several innovation criteria, including the innovative nature of the project, growth capacity, business scalability in actual market and prospect to establish the company in Portugal once the program is over.