If you are thinking about starting a business in Europe, Portugal is the place for you to go. In recent years, Portugal has become a top location for entrepreneurs and small owners and there are many reasons for this.
The reasons why Portugal is a top location for entrepreneurs and business owners have been discussed below:
Easy Visa Procedure for Entrepreneurs:
The visa for entrepreneurs is known as the D2 visa, which is meant for entrepreneurs that are not the citizens of EU, willing to start their business in Portugal and its requirements are very simple.
D2 visa involves following steps:
1. A business plan
The basic and one of the most important for a D2 visa is to have an innovative and beneficial business idea that can give some value to the country. Providing value to the country is what the country demands in return for all the facilities that you are being provided and it must be kept in mind while selecting a business idea. your business plan must include all the information about it and a detailed description must be prepared to show all of your business activities, market analysis, and research with all the financial projections.
2. Register Your Business
After planning a business, the next step is to get your business registered in Portugal. You will be given two choices to register your business either as a single person or you can formulate a company consisting of a group of people.
3. Application for Visa
The third step is to apply for a Visa. Having your business plan and its registration you can easily apply for D2 Visa at your local Portuguese Embassy. The application process involves your documents like a passport, evidence of financial resources, health records, insurance, and most importantly your criminal record.
4. Interview
Once you are done with the application for the Visa, you will be summoned to participate in an interview at the Portuguese Embassy, which may be conducted in Portuguese, so, you must have learned the language before the interview. The interview involves questions about your previous experiences and the business plan that you have prepared. It may also involve the documents that you have provided.
5. Approval and Travel to Portugal
The last step is the approval of the application. The time for approval may vary but usually, it takes a few weeks for completion. After the confirmation of the Visa, all you have do is to travel to Portugal and start your business.
Easy visa procedure is a reason why entrepreneurs prefer Portugal to set up their business there.
Favorable Business Environment:
One of the basic needs of starting any business is the favorable environment needed for it and it includes means all the barriers that you are going to face in other countries will be lessened in Portugal. The country has reduced taxes and made the process of visa certification simple for entrepreneurs and business owners. The government has provided all the facilities to the entrepreneurs to facilitate and shape a friendly environment by lowering all the bureaucratic barriers and stabilizing the economic climate. All you need is to have an innovative business idea that can pay back to the country.
Skilled Workforce:
Another reason for Portugal being a top location for entrepreneurs and business owners is its highly skilled and professional workforce. In Portugal, you find people from all regions speaking different languages which helps people build a strong relationship with each other and comprehend the demands. It makes Portugal a perfect location for businesses seeking aid from the global market. The country has created a dynamic business ecosystem by providing every facility to the entrepreneurs and business owners they need by networking and collaborating.
Strategic Location:
Portugal is one of the most crucial locations in Europe. The country provides easy access to the markets of other continents like Europe and Africa. As the country is developed so it has a very strong transportation system having many modern airlines, railway tracks, and sea ports. The development of transportation directly affects the access of your business to other countries, if you are trying to access the global market. So, Portugal again becomes a top location for entrepreneurs and business owners by providing the facility.
Quality of Life:
Quality of life in Portugal is another characteristic that makes it a perfect location for entrepreneurs and business owners. The climate of the country, its beauty, sense of safety, and mind-refreshing scenery all contribute to its quality of life. A few areas of the country like Sintra have a microclimate that is different from the rest. It means that if it’s too hot in Lisbon and you move to Sintra, you may need to buy a sweater as its climate is colder and rainier than in other parts of the country. The peaceful life along with all the working and networking facilities helps entrepreneurs and business owners to enjoy a calm lifestyle.
Government Support:
To create a vibrant and supportive working ecosystem the Portuguese government has ensured the entrepreneurs and business owners of the taxes incentives and programs that are solely formulated to improve working opportunities for them. The government has allowed the immigrated entrepreneurs and business owners to have their families so that they work properly without any worries about them. Although the visa for the family can be a time taking process once it is done, you as an entrepreneur have your family with you.
Business owners and entrepreneurs prefer to set up their businesses in such places which are easy to access and provide all the facilities to grow their businesses. In this sense, Portugal is a top location for entrepreneurs and business owners as the government is also involved in promoting the entrepreneurs to bring their ideas and start their businesses in Portugal. If you are also thinking about starting a business in Europe, Portugal is the best place to go for you at this time.
