Home > How Can I Move to Portugal to Start a Business?
Published at 21 November 2023
Portugal is known for its welcoming people, beautiful cities, and paradisiac beaches. But while Portugal is the perfect place to relax and have some fun, it's also great to get some work done!
If you're considering moving to Portugal to start a business, this article should provide you with all the information you need to make a name for yourself in this beautiful country:
When considering a move to Portugal to start a business, there are several key factors to keep in mind:
By considering these factors, you can make an informed decision and set yourself up for success in your new business venture. Below, we will be taking a closer look at the legal requirements in Portugal.
Legal requirements for foreign business owners in Portugal include visa and residency permits, business registrations and licensing, and tax obligations:
Obtaining the correct visa and residency permit is essential for legally residing and conducting business in the country. There are different types of visas available, depending on the purpose of your stay (such as the Entrepreneur Visa, for those planning to establish a business).
It is advisable to consult with the Portuguese embassy or consulate in your home country to gather all the necessary information and requirements for obtaining the appropriate visa and residency permit.
Additionally, you may need to obtain specific licenses or permits depending on the nature of your business. It is advisable to seek professional guidance or consult with a local lawyer to ensure that you meet all the legal obligations and requirements for your business in Portugal.
Portugal has a competitive tax system that offers several benefits for businesses. The corporate tax rate is 21%, which is relatively low compared to other European countries.
Portugal has a territorial tax system, meaning that only income generated within the country is subject to taxation. This can be advantageous for businesses that operate internationally. However, it is crucial to comply with all tax requirements and deadlines to avoid any penalties or legal issues.
Despite being a small country, Portugal is very heterogeneous. Different taxes may apply, for example, to Mainland Portugal, Madeira, and Azores, and access to infrastructure varies immensely if you're, for example, establishing a business in metropolitan Lisbon or remote Alentejo.
Finding the right location for your business in Portugal is certainly a challenge, but we can help:
When researching different cities and regions in Portugal for your business, it's important to consider the following few key factors:
Networking is highly valued in the Portuguese business culture, so building relationships with local professionals and organizations can greatly benefit your business. Additionally, it is important to familiarize yourself with the legal and regulatory framework in Portugal to ensure compliance with all requirements.
Look for areas that have well-developed transportation networks, including airports and ports, which can facilitate the movement of goods and services. Consider the availability of business support services, such as co-working spaces, incubators, and accelerators, which can provide valuable resources and networking opportunities for your startup. Finally, research the local business ecosystem to determine if there are industry-specific clusters or innovation hubs that align with your business goals.
Moving to Portugal to start a business can be an exciting and rewarding venture. With its favorable business environment, access to infrastructure and resources, and a range of benefits for entrepreneurs, Portugal offers great opportunities. However, before making the move, it is important to consider key factors such as visa and residency permits, business registration and licensing, and tax obligations. Researching different cities and regions, understanding the local business environment, and finding the right location are also crucial.
To wrap things up, here are some tips to ensure a smooth transition when moving to Portugal for business: