Visa Startup Program approved by Portugal Ministry of Economy
The Visa Startup Program has been approved by Portugal Ministry of Economy. It is one of the measures that will be executed by the Government of Portugal via the Startup Portugal Program. This is aimed at enhancing the private enterprises in Portugal.
Visa Startup Program has been launched to attract overseas talents, investment and innovation ability. It will fast-track the process of PR visas to entrepreneurs from the third world
This is a good option for entrepreneurs looking for establishing a business in an innovative area through investment. It is also a pathway to create qualified employment in Portugal. They can either relocate their startups or establish a new one in the nation, as quoted by the Mondaq.
The Visa Startup Program requires the aspiring entrepreneurs to join the Startup Portugal network incubators. They can thus take advantages of the support and incentives offered under the Startup Portugal Program. The applications for the program will commence in January 2018. These must be submitted via a digital platform. The process supervision of this program has been assigned to IAPMEI
The overseas entrepreneurs who intend to obtain this visa must satisfy specified requirements. They must show that they intend to develop a business activity in Portugal. It must be related to innovative services or manufacturing of goods. For this purpose, they must transfer or open firms or projects in Portugal. These must be related to knowledge and technology. It must also be demonstrated that this will create qualified employment in Portugal
The overseas entrepreneurs are required to demonstrate that the firm has a potential to reach a specific financial valuation. 3 years after the period of incubation it must be able to reach Euro 325. 000, 00. Alternatively, the firm can reach a yearly turnover exceeding Euro 500.000,00.
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