Portugal offers a stable and secure base in Europe for companies, and quality of life for expats.
Portugal is one of the best countries in the world for expats due to safety, friendliness, English proficiency, and great weather. This is why entrepreneurs are relocating to Portugal.
Portugal consistently ranks amongst the best places to live for expats.
Great quality of life on a budget is why most entrepreneurs relocate to Portugal, but political and economic factors are gaining importance
Key cities in Portugal, such as Porto and Lisbon, have long attracted foreign entrepreneurs and expats communities
The Portuguese government fully supports innovation and foreign investment and has introduced several Visa options that cater to a wide range of entrepreneurs looking to move
Here are few reasons why more and more companies of all sizes from all over the world s are relocating to Portugal:
Portugal promotes a tolerant, open and safe society and is ranked one of most peaceful countries in the world.
The Portuguese government has determined a 10-year tax break on most foreign-sourced income, including dividend, interest, rental and pension income, as well as real estate capital gains, under the so-called Non-Habitual Resident (NHR) tax status, which is granted to new residents.
The tax regime in Portugal for company relocation
A relocation process of a company in Portugal starts with a wide range of benefits among which we mention the tax system and the related exemptions. For instance, there is no stamp duty and no fees for relocating the transfers. Practically, the business will have a new domicile in Portugal, respectively in the chosen city without having to interrupt the operations. The only thing to be concerned about is the physical relocation, as a new office space is necessary. We also mention that the company’s assets will be entirely protected regardless of the type of business it provides or the country of origin.
Lisbon in particular, is bustling with more than 50 co-working spaces and shared offices such as LACS, Heden, IDEIA, and Cowork Lisboa, Avila Cowork and etc. The Beato Creative Hub, a 35,000 m² mega campus can hold up to 3000 jobs.
The use of English in business is widespread, resulting in being easy to find multinational operations with Portuguese, Spanish, British and German people where English is used as the main language. Uber, for example, chose Portugal to support all sales operations across the EMEA region because it has a multilingual workforce. In a survey to more than 20.000 expats from 182 nationalities, Portugal came out first as the favorite European place to live and work for expats, thanks to its hours of overall quality of life measured in leisure offers, gastronomy, affordability, healthcare system, family life and ease of settling in.
Portugal has one of Western Europe’s lowest cost of living.
In most cases, the taxation regime and the protection of assets stand at the base of company relocation. This also involves Portugal which is considered a suitable destination for business and for company relocation. In matters of company formation in Portugal and the related conditions, our specialists in company incorporation in Portugal can offer comprehensive information and support.
It is good to know that relocation to Portugal means registering the company in Portugal, mentioning that the balance sheet and the related documents should be provided to the Commercial Registry. Understanding the terms and conditions linked to the company incorporation in Portugal should direct the attention of each kind of entrepreneur who wants to carry out his/her activities in the country.
Opening a branch in Portugal in 2022 is not a complex procedure and such an entity can be completed in just a few days. Even though the foreign company is fully liable for its actions, it is considered an advantageous form of business, particularly from the financial point of view.
Relocating to Portugal with governmental support
The Portuguese government is fully committed to attracting foreign talent. This long-term investment touches every part of the political spectrum, from left to right, and is one of the government’s top priorities. One way this translates into practice is through Visas.
Established in 2012, Portugal’s Golden Residence Permit Program enables non-EU/EEA citizens to obtain a special residence permit in exchange for a 5-year investment in Portugal. What’s unique about the permit is that the investor only has to spend about seven days per year in Portugal to maintain the residency, while still reaping all the benefits of being an EU resident—including visa-free travel in the entire Schengen area.
Tech Visa aims to ensure that highly qualified staff, foreign to the European Union, can access jobs created by Portuguese companies in a simplified way.
The program is aimed at companies inserted in the global market, with headquarters or permanent establishment in the national territory, who intend to attract qualified and specialized technical staff to Portugal, coming from third states and residing outside the European Union.
Start UP Visa is a residence visa for entrepreneurs, which aims to attract investment, talent, and innovation capacity to Portugal. Its purpose is to grant a residence visa or residence permit for entrepreneurial immigrants.
By investing and creating qualified employment, entrepreneurs can integrate a startup incubator in Portugal and benefit from all the incentives and support of the Start UP Portugal Program. This program aims to strengthen the innovation ecosystem and to affirm Portugal as an open country to entrepreneurship.
Many entrepreneurs list the sunshine, food, lifestyle, costs, and culture as key motivations to move to Portugal. In terms of safety and stability, Portugal has also been ranked 4 in the global peace index, just below New Zealand and Iceland.
If you are thinking of relocating or expanding your operations to Europe by moving and setting up a company in Portugal, we can assist you through the whole process.