Portugal Startup Visa From India

Indian entrepreneurs who want to enter Portugal and establish an innovative business can apply for a Portugal Startup visa. You can obtain this visa within 6 months if your business is eligible to partake in the startup programme.

To know more about the Portugal Startup visa, its eligibility requirements, the role of IAPMEI, or other services we offer, call us today on +44 (0)333 305 9375 or contact us online.

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    Introduction to the Portugal Startup Visa Program For Indians

    The Portugal Startup visa is designed for Indian entrepreneurs who wish to invest, establish their businesses, or relocate their already existing business to Portugal.

    It is designed by the Portuguese government to encourage Indian entrepreneurs to invest, establish, or relocate their innovative businesses to Portugal to help attract highly qualified professionals and boost the country’s economy.

    As an Indian entrepreneur, you are required to submit a startup project that is related to technology and innovation. An accredited business incubator must approve your project to help accelerate it and you will apply to the Portuguese Agency for Competitiveness and Innovation (IAPMEI).

    The IAPMEI will evaluate the project to know if it is scalable, has market potential, etc. You are not required to prove that you already have the money to start the project, just show that you have enough money to sustain yourself in Portugal for 1 year.

    After obtaining the Portugal Startup visa, you can switch it to a residence permit valid for 2 years and extendable for an additional 3 years.

    When you remain in Portugal for up to 5 years, you may become eligible to apply for Portuguese permanent residency or citizenship status.

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    Eligibility Requirements for the Portugal Startup Visa From India

    Indian entrepreneurs who want to establish an innovative business in Portugal must meet the following Portugal Startup visa requirements:

    • Do not owe the Social Security or Tax Authority.
    • Be 18 years old or above.
    • Be a non-EU citizen or a lawful resident in Portugal.
    • Have about €400 health insurance.
    • Have a place to stay in Portugal.
    • Have no criminal history.
    • Provide at least €5146.8 to cover your expenses while in Portugal for a year.

    As part of the requirements, your business must focus on innovation and technology and base its projects on:

    • Information and technology.
    • Healthcare.
    • Electronics.
    • Communication.
    • Biotech.
    • Commerce and customer products and services.
    • Energy.

    The projections of your business for creating jobs, accumulating more than €325,000 in revenue or assets value yearly after 5 years, and entering the global market must be portrayed in your well-detailed business plan.

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      The Role of Certified Incubators in the Startup Visa Program

      Overview

      Certified incubators are an important source of support for Portugal as it strives to become a global centre for entrepreneurship, bringing in a new era of innovation and economic development.

      The Portuguese government has approved certified incubators as specialised businesses or institutions that support, foster, and grow entrepreneurs in early stages. In addition to offering actual workspaces, they guarantee that entrepreneurs receive the ideal combination of resources, exposure, and coaching, putting them on the path to success.

      Support and Resources that Certified Incubators Provide to Startups

      Startups are supported by approved incubators as soon as they arrive in Portugal. These incubators provide a variety of necessary services, such as shared technological assets, office space, and administrative support, to guarantee a seamless start-up.

      These incubators, led by seasoned industry professionals, assist in areas, such as developing business strategies, adhering to regulations, handling finances, and breaking into new markets. It makes a clear statement about the startup’s mission and potential to prospective partners, customers, and investors.

      Partnering with a licensed incubator assures a quick facilitation of your visa application procedure. An incubator’s endorsement successfully backs the startup’s potential and gives authorities confidence about the entrepreneur’s possibilities.

      Entrepreneurs can network with one another through incubators, which provide regular events and interactive sessions. This provides access to the larger European business community for Indian entrepreneurs, facilitating joint ventures, client acquisitions, and partnerships.

      Advantages of Partnering With a Certified Incubator During Application Process 

      As an Indian entrepreneur, there are several advantages you will gain by partnering with a certified incubator. They include:

      • Indian entrepreneurs can be guided by the incubators on the best way to effectively present their business proposal to stand a better chance of obtaining a favourable decision.
      • Endorsement by an incubator gives your business credibility, and it can help expedite your Startup visa application review.
      • Incubators will help you to ensure that you have assembled all the required documents appropriately, to avoid a refusal of your visa application.

      Documents and Paperwork Needed for the Startup Visa Application

      Indian entrepreneurs are required to provide some documents when applying for a Startup visa. The following are the Startup visa Portugal required application documents:

      • Valid Indian international passport.
      • Your Portuguese NIF tax number and Social Security number, if applicable.
      • Two passport-sized photographs.
      • A detailed description and project presentation.
      • Criminal record certificate.
      • A bank statement of about €5,146.80.
      • Declaration of the business’ participation in the Portugal Startup visa initiative.
      • Letter of motivation.
      • Curriculum Vitae (CV).
      • Travel health insurance to cover any unplanned medical expenses while in Portugal.

      Costs Associated with the Startup Visa and Residence Permit

      Indian entrepreneurs must make a financial commitment to obtain a Portugal Startup visa. The costs involved include:

      • Payment of €90 visa fee for the Portugal Startup visa.
      • Payment of €85.05 for your residence permit.
      • Payment of a health insurance fee of at least €400 or more.
      • Possess about €7,000 or more for accommodation, though as a Startup visa applicant, you’re not required to pay rent.
      • Keep a minimum of €5,146.8 for a year’s living expenses in Portugal.
      • Payment for translation of documents if your documents are not in Portuguese or English.
      • Payment for legal fees during your application.

      With the assistance of our immigration specialists, simplify the application procedure. Contact Us

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        Step-by-Step Guide to Obtaining a Portugal Startup Visa From India

        Indian entrepreneurs must follow a step-by-step guide in applying for a Portugal Startup visa. Below is the guide:

        Build a Business Plan

        Develop a comprehensive business plan that emphasises technology and innovation intending to boost the Portuguese economy and start a company there.

        Assemble all Required Documents

        Put together all the necessary paperwork, which includes your resume, the project presentation, the letter of inspiration, and any other materials needed for the application. Additionally, you must provide a taxpayer ID number and social security number, which you can get with the help of an immigration lawyer.

        Finish Your Application

        Access the IAPMEI website, fill out the essential information on their online application form and upload your required documents.

        Find a Licensed Business Incubator

        Locate a licensed business incubator to help expedite your project and submit your filled-out application form to the Startup visa platform.

        Wait for Approval

        Follow-up on your application from your dashboard on the IAPMEI website. The IAPMEI will process your application in about 30 days. You will be issued a declaration of participation (valid for 6 months) in the Portugal Startup visa programme.

        Fix an Appointment

        Make an appointment and visit the Portuguese embassy or consulate in person and submit all your required documents.

        Apply for Portuguese Residency

        Upon the reception of your Startup visa, you must fix an appointment with the SEF to file for your Portugal residency. When you enter Portugal visit the SEF office and submit your biometric information and your residency application.

        Obtain a Residence Card

        You will be issued a residence permit upon the approval of your residency application. You will be given a temporary residence permit valid for 2 years and renewable for an extra 3 years if you wish to remain in Portugal.

        As an Indian entrepreneur who wants to establish a business in Portugal, you may not know the right steps to take in your Portugal Startup visa application. We advise that you reach out to one of our immigration lawyers at Total Law for guidance in your IAPMEI Startup visa application.

        Visa Processing Time

        It typically takes about 30 days for your Startup visa application to be processed. However, some delays may occur due to insufficient documents provided in your application or other unique situations of applicants.

        Get your Portugal startup visa from India by getting in touch with our knowledgeable lawyers for assistance. Contact Us

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          Benefits Of The Portugal Startup Visa

          Indian entrepreneurs seeking a Portugal Startup visa have several incentives to enjoy. They include the following:

          Help from Incubators

          You are required to work with a Portuguese incubator to apply for a Startup visa. The Startup visa programme’s component is the National Network of incubators within a certain region.

          Your Portugal Startup visa incubator assists you with documentation, funding applications, finding an office on acceptable terms, and looking for grants and investments. Besides that, the network helps you create your Portuguese business among entrepreneurs who have specific knowledge of the Portuguese and European markets.

          Tax Benefits

          It is required that Indian entrepreneurs holding a Portugal Startup visa spend a minimum of 183 days annually in Portugal. Consequently, you will begin to pay taxes in Portugal.

          You might, however, receive special treatment and have to pay less if you’re a Non-Habitual Resident (NHR). While the regular tax rate can reach as high as 48%, the NHR status may only need you to pay a mere 20% in income tax.

          Path to Portuguese Citizenship

          You can enter, live and work in Portugal with your Startup visa. Through this visa, you can become a permanent resident or gain citizenship in Portugal.

          Affordable Portugal Residency

          Obtaining residency through the Portugal Startup visa is more affordable than some residency routes. You can apply for a residence permit after receiving your Portugal Startup visa.

          You are only required to have a minimum of €5146.8 in your Portuguese bank account to remain in Portugal for a year as a resident. You will need to invest at least €250,000 in Portugal and have in your bank account €8,460 to gain residency via the Golden visa route.

          Opportunities for Permanent Residency and Citizenship with the Portugal Startup Visa

          As an Indian entrepreneur, you can become a permanent resident or Portugal citizen via the Portugal Startup visa. You will need to switch your Portugal Startup visa to a temporary residence permit at the SEF office upon your entry into Portugal.

          The residence permit is only valid for 2 years and you can extend it for an additional 3 years. When your total stay in Portugal gets up to 5 years, you may become eligible to apply for Portuguese permanent residency or citizenship status, if you meet other requirements.

          How Can Total Law Help

          The processes involved in obtaining a Portugal Startup visa are typically overwhelming for applicants applying for the first time. The rigorous processes involved in gathering all the required documents and seeking business incubators can be exhausting.

          Our team of immigration lawyers at Total Law can advise you on the best ways to establish or move your business from India to Portugal without breaking the Portuguese immigration law. We can help you craft a comprehensive business plan and make a solid application for a Portugal Startup visa. For more details about Startup visa countries, or other services we offer, call us today on +44 (0)333 305 9375 or message us online for immediate response.

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                    Frequently Asked Questions

                    Yes, you are required to be 18 years or older to apply for a Portugal Startup visa.

                    No, you cannot apply for a Portugal Startup visa if you don’t have a well-detailed business plan. The business plan must show the prospects of your business to significantly contribute to the Portuguese economy.

                    You can change employers while on a D3 residence permit. All you need is to ensure that you, your new employer and your work contract meet the eligibility criteria for a D3 visa.