According to the legislation made by the ministry of the economy (Legislative Order-Nr. 4/2018), the start-up visa allows the granting of a residence authorization or a permit for non-EU entrepreneurs to create their innovative business in Portugal.
According to the StartUp Portugal, the Startup Visa “is a residence visa for non-EU-Schengen startup founders who want to be part of one of the fastest developing startup communities in Europe”
You can apply for a Startup Visa if:
- You are an entrepreneur who intends to develop a startup in Portugal.
- You are an entrepreneur who has already launched a startup in your country and you want to set it up in Portugal;
- You did not have a regular residence in the Schengen area before;
- You do not have a criminal record;
- You have 18 years old or above;
- You have enough funds in your bank account totaling 5146.08€ for 12 months (per person);
You also have proof that :
- Your project/startup is focused on tech;
- Your startup shows the potential for the creation of jobs.
- Your startup shows the potential to generate a turnover of 325,000€/ year and/or assets value over 325,000€/ year, within 5 years after the start of the contract with your chosen incubator;
- You have the capacity to establish a company, when applicable, during the undergoing of the program;
Once you select one of the certified incubators to physically incubate your startup, then your Startup Visa application is complete and you are ready to go!