ABOUT START UP VISA PROGRAM
The Portuguese startup visa is designed for entrepreneurs from countries outside the EU/EEA who wish to establish innovative companies in Portugal and offers them an opportunity to move to Portugal and implement their business ideas. The program simplifies the relocation process and supports the launch of startups, even at the idea stage. Applicants can also add their spouse as co founder, so they won’t have to worry about reunification.
The program collaborates with accredited incubators and is supported by IAPMEI (Institute for Support to Small and Medium Enterprises and Innovation), the government agency responsible for competitiveness and innovation, providing entrepreneurs with the necessary resources and expert guidance for success.
REQUIRED DOCUMENTS
• Passport
• Motivation letter
• Bank account with a minimum balance of €6,120 (to confirm financial viability)
• Criminal record certificates (from the country of citizenship and the country of residence for over one year, with an apostille in Portuguese or English)
• Long-term rental agreement for housing in Portugal (for at least one year)
• NIF / NISS
• Health insurance (touristic for D2 visa or número de utente, national public health insurance)
• Agreement with IAPMEI and information about your startup
WAYS TO APPLY FOR START UP VISA D2
- Application from home country
ARTICLE 89.4 - Start up within Portugal for entrepreneurs arriving on a tourist visa or visa-free entry
STEP-BY-STEP GUIDE
REGISTERING COMPANY AND DEMONSTRATING GROWTH POTENTIAL
Complete the application on the online platform, outlining your business idea, model, and development plans. Within the first year of obtaining residency, you will need to register your company in Portugal.
In your motivation letter demonstrate:
● Outline your project’s scalability and potential for growth in European and global markets. The potential revenue of the startup should be at least €350,000 per year within five years.
● Show how your business will create job opportunities for local residents in Portugal.
● Emphasize your innovation; traditional businesses like cafés or beauty salons may not meet IAPMEI’s criteria.
CHOOSING IAPMEI INCUBATORS
Obtain approval from accredited business incubators that work with IAPMEI.
Basically, IAPMEI incubators work by providing startups and entrepreneurs with a supportive environment to develop their business ideas:
• Application and Selection: Entrepreneurs apply to join an incubator, presenting their business ideas. The incubator evaluates applications based on potential for growth and innovation.
• Support Services: Once accepted, startups receive various support services, including mentorship from experienced professionals, access to training programs, and networking opportunities with other entrepreneurs and investors.
• Workspace: Many incubators offer physical office space where startups can work and collaborate.
• Funding Assistance: Incubators often help startups access funding through grants, loans, or connections to investors.
• Business Development: They provide guidance on business planning, marketing strategies, and operational management to help entrepreneurs grow their companies.
• Exit Strategy: After a specified period, or once a startup reaches certain milestones, they typically “graduate” from the incubator, equipped to operate independently.
GETTING IAPMEI APPROVAL
Choose the most suitable incubator after receiving approvals from several and submit your application to IAPMEI.
IAPMEI decides on the application within 30 working days, notifying candidates via the platform. If additional documents are needed, candidates have 3 working days to provide them.
For an unfavorable decision, applicants can submit objections within 10 working days via email. If no response is received, IAPMEI makes the final decision.
After IAPMEI approval (you need IAPMEI’s approval to show that your business aligns with the country’s innovation and economic goals), entrepreneurs can proceed with a chosen incubation contract.
SIGNING INCUBATION CONTRACT
After approval, entrepreneurs and incubators have 40 working days to sign the incubation contract. The contract must include:
● Entrepreneur’s responsibilities
● Incubator’s services and obligations
● Contract value
● Incubator’s project supervisor
It should include the incubator’s and entrepreneurs’ details and be submitted on the platform, dated and signed, following next steps
1. Entrepreneurs invite incubators to formalize the contract on the platform.
2. Incubators upload the signed contract within 5 working days.
3. A Declaration of Acceptance, valid for 180 days, will then be available to entrepreneurs for visa application purposes.
VISA APPROVAL
Once approved, you will receive your D2 Visa for 4 months. Start making necessary arrangements to move to Portugal, including travel and housing. Travel to Portugal using your D2 Visa.
APPLY FOR A RESIDENCE PERMIT
Schedule an appointment at AIMA and submit all prepared documents, adding to already existing ones NIF and copy of your D2 visa, for processing the residency. Make sure all documents are in order and you have provided all necessary confirmations.
Submit all prepared documents and provide biometric data (fingerprints and photos) for processing the residency. Make sure all documents are in order and you have provided all necessary confirmations.
The applicants can also come to Portugal on a tourist visa (or under a visa-free regime) and apply in Portugal under Article 89.4 without getting visa D2 from the Portuguese Consulate.
RelyOn clients don’t need to worry about securing an appointment; we will handle the scheduling at a time that is most convenient for them, allowing them to prepare their documents without any stress.
MONITORING THE PROCESS AND PREPARING TO START YOUR BUSINESS
Carefully track the visa application process and ensure compliance with all program requirements. Once the residency permit is successfully obtained, begin implementing your startup project in Portugal and take advantage of the opportunities offered by the country’s innovative business environment.
FAMILY REUNIFICATION
When an entrepreneur receives a residence permit card, family members (spouse, children) can apply for a residence permit at AIMA under Article 98.2 (family reunification).
Once again, spouse can be added as co founder of the business, so the family won’t have to worry about reunification later.
By offering access to resources, incubator support, and a streamlined path to residency, Portugal positions itself as a dynamic hub for global startups. With careful planning and adherence to program requirements, entrepreneurs can successfully launch their businesses while also benefiting from the country’s vibrant entrepreneurial ecosystem. Moreover, the flexibility to include family members in the process ensures a smooth transition to life in Portugal. RelyOn Relocation is here to guide you through every step of the process, from securing approvals to handling appointments, ensuring a stress-free journey toward realizing your business goals in Portugal.