Portugal’s new StartUp visa is the first of its kind in the European Union. The EU Member State is ready to pay for those high-skilled applicants, who have a potentially successful startup. After one of the startup incubators accept your plans, you can move and work in Portugal without any investment and EU funds are available for your project! This is a great scheme for the innovative and high-skilled people, who want to live and work in the European Union. During the last two weeks of March 2018, 46 applicants arrived only from Brazil to start their immigration process and business in Portugal. The authorities granted the qualifying certificate to 71 incubators, twenty even in other countries and one in Madeira.

Who can apply for the Portuguese StartUp Visa?

  • All entrepreneurs, who intend to develop one or more startup(s) in Portugal, even though they might not have started their business yet;
  • Entrepreneurs, who have already launched a startup in their country but they want to set it up in Portugal;
  • The Entrepreneur does not have the resident status in a Schengen area country;
  • The applicant has tax obligations fulfilled concerning tax administration and social security, when applicable;
  • They do not have criminal records;
  • They are not under 18 years old;
  • They have enough funds in a bank account in a total amount of 5146.08 EUR for twelve months (per person);

The applicants also have to prove that:

  • Their project/startup is focused on tech;
  • The startup shows potential for the creation of jobs, besides the entrepreneurs, who are included in the initial application.
  • The startup shows the potential to generate a turnover of 325,000EUR per year and assets value over 325,000 EUR per year, within five years after the start of the contract with the chosen incubator;
  • The entrepreneur must have the capacity to establish a firm, when applicable, during the undergoing of the program;
  • Once the entrepreneur selects one of the certified incubators to physically incubate the startup within the StartUp Visa program their application is complete, and the project is ready to go!

Is this a continuous immigration programme?
Yes, the applicants can start the process anytime during the year from March 2018.

Step by step practical guide to the entire Portuguese StartUp Visa Process

  • Access the StartUp Visa online platform here
  • The Startup application can be submitted in Portuguese or English language, through an online form, available in the online platform of the program.
  • The incubator of the applicant’s preference gets notice of the application and revises it.
  • If the application is accepted, the successful entrepreneurs will get approved by the incubator and get a notification on the portal informing about it.

Necessary documents for the Portuguese StartUp Visa

  • The motivation letter demonstrating the interest in developing an entrepreneurial and innovative project in Portugal
  • Documents needed for the eligibility process
  • Identification and slide deck of the entrepreneurial project

To summarise the Portugal StartUp Visa

The evaluation of the application is based on the degree of innovation, the scalability of the business, the market potential, the capacity of the management team and the potential for creating jobs.

The main advantage of the Portuguese StartUp Visa Programme that it does not need capital investment. In fact, the residents may use EU and other funds. However, the resident must live in Portugal to be able to manage the company and forge the profit.

Do you want to know more about the Portuguese StartUp visa or apply? Ask for more information here!