Portugal as the gateway to Europe
In recent years, Portugal has emerged as a shining star among European countries, attracting attention not only from startups but also from investors looking for new horizons. The Portuguese government, recognizing the need for local capital, has actively sought foreign investment as a source of innovation, income growth, and employment opportunities. The result? Portugal’s efforts have borne fruit, and the country is now a top choice for doing business.
Portugal’s business-friendly policies and attractive incentives have positioned it as one of the most sought-after destinations for startups and investments in Europe. Here are some compelling reasons why Portugal stands out:
1. Foreign Investment for Innovation: Portugal’s government has actively encouraged foreign investment to foster innovation, economic growth, and job creation. This approach has not only benefited the country but also made it an appealing destination for global investors.
2. Ease of Doing Business: Portugal consistently ranks among the top countries for doing business. In 2021, it was placed 36th in economic competitiveness according to the IMD ranking. This demonstrates the country’s commitment to creating a welcoming environment for businesses.
3. Affordable Living: Portugal is one of the most cost-effective countries in Europe, with lower costs for food, wine, new cars, and property compared to other parts of the continent. This affordability extends to the everyday lives of entrepreneurs and residents.
4. Quality of Life: The Internations Expat Insider 2022 report ranks Portugal as the fourth-best country to live in, highlighting the exceptional quality of life, ease of settling in, and personal finance conditions.
5. Trade Opportunities: Portugal is the sixth-best country for trade openness and non-tariff barriers. Its strategic location makes it a gateway to European and global markets.
6. Innovation in Healthcare: Recognized by the Organization for Economic Cooperation and Development (OECD), Portugal has displayed innovation in fighting Covid-19, setting an example for the world.
7. Safety and Peace: Portugal boasts some of the lowest levels of violence in Europe and was ranked the fourth most peaceful country in the world in 2021 by the Institute for Economics and Peace (IEP).
8. English Proficiency:Portugal is the seventh-best English proficient country in the world according to the 2021 EF English Proficiency Index ranking, making it an accessible destination for international business.
9. Ideal for Digital Nomads: In 2022, Portugal was crowned the Best Place in the World for Digital Nomads, offering a welcoming environment for remote work and innovation.
10. Startup-Friendly: Portugal’s appeal to startups goes beyond the rhetoric. Recent reports place it as the top spot for Hardware & IoT, Energy & Environment, and Food Tech startups. It also ranks among the top 30 countries to raise and develop startups, based on quantity, quality, and the business environment.
11. Efficient Company Registration: Portugal ranks among the top ten countries globally in terms of ease of registering a company. The Portuguese system allows you to create a company in under an hour with just one form. The key to this process is obtaining an NIF (tax identification number), which unlocks a world of possibilities for your business endeavors.
Whether you are an entrepreneur or an investor, Portugal offers an array of opportunities. The country’s friendly policies, strategic location, and commitment to innovation make it an ideal place to start or expand a business. Furthermore, the ease of company registration and the support provided by the government make the process smoother than ever.
Our Venture Builder services are designed to guide you through every step of your journey in Portugal. We handle all the paperwork and act on your behalf, so you can focus on your business. You will also benefit from the expertise of our partners and consultants, members of our Market-Place Service Club. Plus, all this work is eligible for the Startup Vouchers Call, providing you with the support you need to thrive in the Portuguese business landscape.
Portugal is not just a picturesque tourist destination; it’s a thriving hub for innovation and investment. With its countless opportunities and supportive environment, it’s time to consider Portugal as your gateway to the European market. Embrace the prospects this dynamic country offers and take your business to new heights.