The Portugal StartUp Visa focuses on entrepreneurs from outside the European Union, both those already owning or considering launching a startup but aiming to set it up and grow it in Portugal.
This Program, created by Agência para a Competitividade e Inovação (IAPMEI) and regulated by the Ministry of Economy and Internal Affairs of Portugal, was developed to strengthen the innovation ecosystem and affirm Portugal’s positioning as a country open to entrepreneurship and all those who possess knowledge and innovation capacity.
The Startup Visa program includes the National Network of Incubators within the whole territory. It makes sure that your business will be established next to a community of entrepreneurs who are already hacking in the ecosystem and are familiar with all the specific features of the Portuguese and European markets.
Entrepreneurs can apply through the online platform and the Incubators will receive the projects that are considered relevant in their evaluation and criteria. The procedure will be supervised by the IAPMEI, and the application's final decision will take a maximum period of 30 working days from its submission.
All entrepreneurs wishing to develop their project in Portugal, even if they do not have a company incorporated, and/or entrepreneurs who already have business projects in their countries of origin and who wish to pursue their activity in Portugal.
The program may cover a maximum of 5 entrepreneurs per project who will be granted residence visas.
The application for this visa requires solid business and financial plans demonstrating that the Startup has strong potential to create jobs and will be able to generate effective yearly turnover.
On a very brief note, a successful application must meet the following requirements:
The applicant must be over 18 years old and no criminal record; and cannot have permanent residency in the Schengen Space.
Proof of financial resources corresponding to €5,150.00 in a private bank account in Portugal.
Develop an innovative project with potential for international growth, focused on technology and knowledge and, with the capacity to create skilled employment.
Demonstrate the project has the capacity to achieve, in 5 years, a turnover of over €325,000.00/year and/or an asset value of over €325,000.00/year.
Present a business plan, which then must be approved by one or more accredited incubators and the business must be physically incubated at one of them, under an agreement made in accordance with the Startup Visa programme.
This residence permit must be renewed at the end of the first year and then every 2 years. After 5 years of legally authorized residence, you can apply for permanent residency and/or for Portuguese citizenship, subject to passing a language test of "basic Portuguese".
The application should be kick started by:
01 Requesting a “letter of intent” from one or more appropriate incubators.
02 Submitting an online preliminary application, which should include:
03 Incubation Agreement: the preliminary application should be assessed by the authorities within 30 days and, if approved, you then have 40 days to sign an Incubation Agreement with an appropriate incubator, which may or may not be one of those that issued a letter of intent.
The exact requirements of each Consulate may vary, but as a rule you will be required to present at least the following documents when attending the interview at the Consulate:
After receiving the notification that the special purpose residence visa has been granted by the Portuguese Consulate, you will have one month to collect it. Once you do, the visa will be issued for four months, during which you must travel to Portugal.
As soon as you arrive to the country, you must schedule your appointment before AIMA, The Immigration and Border's Service.
Belion Partners can provide full assistance in obtaining a Portugal StartUp Visa. As a comprehensive, non-biased party, Belion Partners is able to understand and advise on which solution works best for your particular case.
We will respond by email within no longer than one working day.
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