Streamline PT

Portugal is a Western European country with pragmatic view on economics and innovative company promotion architecture. In this paper, we would like structurize the current approach and outline possible directions for improvement.

Economics

Taxes

Other aspects

Startup law

Startup Visa program

Startup Visa program aims at bringing startup founders outside of European Union to Portugal.

Requirements

The process

The process of obtaining residence based on Startup Visa program boils down to a two major points:

Obtaining approval from IAPMEI

The agency for competitiveness and innovation essentially evaluates the project and gives go or no go decision.

The project is evaluated based on a few main criterias, in accordance to Legislative Order 4/2018, article 5:

1. Real interest in developing an entrepreneurial project in Portugal.
2. Intent to set up business, with a view to internationalization.
3. Project/company is focused on technology and knowledge.
4. One of the certified incubators stated interest in incubating the entrepreneurial project.
5. Potential for creation of qualified employment, besides the entrepreneurs included in the program’s application.
6. Potential to achieve until 5 years after the start of the incubation’s contract, a turnover over 325,000EUR/ year and/ or an assets’ value over 325,000EUR.

Each participant is evaluated in accordance with the following criterias:

1. No residence in the Schengen area.
2. All tax obligations concerning tax administration and social security are fulfilled (in Portugal).
3. No criminal records.
4. Not to be under 18 years old.
5. Own adequate financial resources equivalent to 12 times the Social Support Index, verified by bank statement.
6. The individual contribution of each candidate is essential to the development of the entrepreneurial project.

The process is:

1. Submitting an application on the IAPMEI website. At this point the application must be supported by presentation and the qualification documents of the founders (as proven by scientific degree and/or relevant experience). It is not a final submission. At this point, it is only evaluated by incubators.

2. Getting interest from one of the certified incubators.
3. Submitting an application to IAPMEI. At this stage, more information is required:
   • Justification of innovative nature of the project, internalization potential, used technology, job creation potential, estimated values.
   • Plan the steps until the creation of the company.
4. Getting approval from IAPMEI and receiving Startup Visa declaration.
5. Getting residence/visa in accordance with Lei dos Estrangeiros regulations.

Getting documents to SEF/AIMA

TODO

Expected outcome