Portugal Startup Visa

Startup visa and residence permit in Portugal

The government of the country has launched a startup visa program to attract foreign business. To participate, a foreigner must submit an application to the IAPMEI agency, provide information about an innovative project and launch a startup in cooperation with a business incubator. Co-founders of the company and relatives of the main candidate can also apply for Portugal startup visa.

The applicant needs to demonstrate that they have enough funds to live in the country for a year. The amount required is calculated based on the minimum wage, which is EUR 820 in 2024. This calculates to EUR 9,840 per person. 50% of this amount is needed for each adult in the application (EUR 4,920), with another 30% (EUR 2,952) for each child. You will also need to buy or rent accommodation in the country.

A startup visa entitles you to a two-year residence permit with the possibility of an extension for three years. A resident can apply for permanent residence or citizenship after 5 years of residence in the country. Owning a business in the country increases the chances of being issued a passport. Children born to residents who hold a Portuguese residence permit for at least one year are automatically granted citizenship.

After staying in the republic for more than 183 days within a year, startup participants become tax residents and can apply for non-habitual Resident status. It permits the avoidance of double taxation for citizens of countries that have concluded a corresponding agreement with the Republic, for ten years.

Portugal startup visa: Requirements

What is required of participants:

• Age - 18 years and above
• No criminal record
• No residence permit or citizenship in the EU
• At least EUR 9,840 in their account
• Availability of housing in the country
• Health insurance

The application can include a maximum of 5 adult co-founders of the project, a spouse without a criminal record, minor children, financially dependent parents and unmarried adult children.

Portugal startup visa: Documents

The documents required for participation in the programme includes:

• Completed application form
• CV
• Passport
• 2 photographs
• Medical insurance
• Police clearance certificates from the countries where the candidate has stayed for more than one year
• A rental agreement or certificate of ownership confirming the availability of accommodation in the country
• A statement from a local bank, confirming the availability of funds for living in the country
• A business plan
• An agreement with a business incubator

Startup criteria for obtaining a Portugal residence permit

Foreigners wishing to obtain residence visas for entrepreneurship in Portugal through starting a company need to create a new business or relocate an existing business from another country. The project must:

• Produce innovative goods and services
• Have the prospect of creating jobs for qualified professionals
• Have the potential to achieve a turnover of more than EUR 325,000 per year or an asset value of a similar amount within five

The role of a business incubator in startup activities

The incubator evaluates the entrepreneur's business plan. It can provide support to startups at different stages of development: from idea development to commercialization.

Portugal residence permit comparison of the startup and golden visa

Portugal startup visa: costs

There is no minimum investment threshold for starting a company in the territory of the Republic to participate in the program. Therefore, the amount of direct investment depends only on the applicant's project.

The associated costs also include legal fees and travel expenses to the country.