As a young entrepreneur or a digital nomad, you have the luxury to choose where to live and grow your startup business. The options are plentiful, however, there is one stand-out country in Europe – Portugal. It has become a hotspot for young entrepreneurs, offering the ideal environment for startups as well as a better quality of life. Here is why you should consider it.
A thriving startup scene
Portugal’s startup scene has absolutely exploded in recent years, with Lisbon and Porto becoming major tech hubs in Europe. The country hosts numerous incubators, accelerators, and co-working spaces for digital nomads, which makes it super easy to find support and networking opportunities. It is also hosting one of Europe’s largest tech conferences, the Web Summit, which attracts hundreds of investors each year. So, Portugal could not be any more friendly and convenient to aspiring entrepreneurs.
High quality of life
Compared to many Western European countries, Portugal has a considerably low cost of living, yet offers a great quality of life. This beautiful country is rich with culture, lush beaches, breathtaking nature, and delicious food. Life here is vibrant and there is always something to do or see, without a dull day in your life. The country’s healthcare system is free and highly accessible to its residents, while the public transport is affordable and well-connected. As you keep your expenses low in Portugal, you can enjoy a higher-end lifestyle day-to-day.
Attractive visa options
If you want to live and work in Portugal long-term, you will need to apply for a visa. There are two main options for entrepreneurs:
D8: Digital nomad visa
The digital nomad visa in Portgual is a great option for freelancers, contractors, digital entrepreneurs or remote employees who wish to work from Portugal. This visa is easy to achieve, as long as you meet the key requirements, such as the minimum income. It only costs 90 euros to apply and can be issued within 1 to 4 months. Once you have your visa, you can travel freely within the Schengen Area, which is always an added benefit!
D2: Entrepreneur visa
The entrepreneur visa in Portugal is primarily designed for business owners, startup founders, and investors who want to move their entrepreneurial activities to this thriving, tax-beneficial country. To secure this visa, applicants will have to provide a viable business plan and demonstrate sufficient funds to support their business venture. The visa fee is also 90 euros, taking 2 to 4 months to process. Setting up a business in Portugal also means that you have access to the extensive EU market and its great opportunities.
Supportive business environment
Portugal has made it its mission to simplify the bureaucracy for new business owners. There are many great tax incentives and government support programs for startups, fostering innovations and economic growth. Besides, Portuguese people speak English very well, particularly when it comes to business and tech circles. This makes it easier for international entrepreneurs to integrate into the country and build professional networks without having to overcome huge cultural or language barriers.
Conclusion
With a combination of a great work-life balance and a supportive business environment, Portugal is a dream come true for ambitious business owners and digital nomads. If you are looking for the perfect destination for you – this might just be it!
