How you can quickly open a business in Portugal and get a residence permit

Starting a business in Portugal can be the key to new opportunities and a comfortable life in one of the most attractive countries in Europe. A pleasant climate, favorable geographical location and access to the European market make Portugal an excellent choice for entrepreneurs looking to expand their business. But in addition to this, company registration in Portugal can open the way to obtaining a residence permit (residence permit), which greatly simplifies the stay in the country and access to its many advantages. In this article we will look at how you can quickly and efficiently open a business in Portugal and at the same time start the process of obtaining a residence permit.

Climate

Portugal is known for its mild and pleasant climate. Most of the country has a Mediterranean climate, with warm summers and mild winters. In southern regions such as the Algarve, summers can be particularly hot and dry, while northern areas have more moderate temperatures and more rainfall. The Atlantic Ocean coastline provides fresh breezes, making the climate comfortable all year round.

Population

Portugal has a population of about 10.3 million people. The country has a relatively low population density compared to other European countries. Most of the population is concentrated in large cities such as Lisbon, Porto and Braga. Portugal is highly urbanized, with rural areas remaining sparsely populated.

National Language

The official language of Portugal is Portuguese. It is one of the most widely spoken languages in the world, spoken by over 250 million people, mostly in Portugal, Brazil and parts of Africa. In tourist areas and major cities, many Portuguese people also speak English, making communication easier for foreigners.

National currency and exchange rate for 2024

Portugal's national currency is the euro (EUR). The EUR exchange rate for 2024 varies between:

• 1 EUR = 1.05 - 1.15 US dollars (USD)

These rates may fluctuate depending on economic factors and international events.

Advantages of obtaining a residence permit

Obtaining a residence permit (LPR) in Portugal offers you a number of significant advantages. Firstly, a residence permit allows you to live legally in the country, enjoying a high quality of life, a favorable climate and a safe environment. You will be able to travel freely throughout the Schengen area without the need to obtain visas, which greatly simplifies travel in Europe.

In addition, with a residence permit you have the opportunity to legally work or do business in Portugal, enjoying all the rights and benefits that this country offers its residents. Portugal offers a wide range of social benefits, including access to high quality healthcare and education.

Another advantage is the possibility to apply for permanent residency or even citizenship after a few years, which opens up access to even more rights and freedoms, including participation in the political life of the country.

Portugal is also known for its hospitality to foreigners, so the process of integration into the local society, including learning the language and culture, is quite comfortable.

Methods of obtaining a residence permit

Business Investments

Since January 2013, Portugal has had a Golden Residence Permit program for investors. This program offers investors a number of significant advantages over regular applicants:

• The residence permit can be obtained within 8 10 months.
• There is no need to pass a language and history test.
• There is no requirement to reside in the country permanently - it is enough to stay in Portugal only 7 days a year.
• The status extends to the entire family of the investor, including parents (with a small additional cost).
• After 5 years it is possible to obtain Portuguese citizenship (previously this period was 6 years).
• There are tax benefits for investors.

Opening a business with a guarantee

Starting your own business is also suitable for obtaining a residence permit in Portugal, provided that you guarantee the creation of at least 10 jobs for Portuguese people or citizens who have a work permit in Portugal.

Investments

Another way to obtain a residence permit is to invest at least €1.5 million in the real sector of the Portuguese economy.

Profitable industries to invest in

There are several key industries in Portugal that offer significant investment opportunities:

• Tourism: Portugal is one of the most popular tourist destinations in Europe, making this industry extremely attractive to investors.
• Winemaking: Grape growing and wine production are traditional and lucrative industries, especially in regions known for their wines, such as the Douro and Alentejo.
• Agriculture: Investments in olive, citrus and cork bark production provide stable income.
• Food production: The production of meat, poultry and poultry-based products is in high demand on domestic and foreign markets.
• Furniture: Portuguese furniture is known for its quality and demand is growing both nationally and internationally.
• Ceramics: The production of ceramics and tiles has a long tradition in Portugal and continues to be profitable.
• Logistics and Ports: Portugal, with its strategically important ports, offers excellent opportunities for investment in port logistics.
• Fishing and fish processing: Portugal is Europe's leader in fish catching and processing, making it a promising industry for investors.

Regions where you can open a business in Portugal

• Northern region: Known for its industrial centers and tradition in wine production. It is home to cities such as Porto, which offer excellent investment opportunities in industry, winemaking and textiles.
• Central Region: Rich in natural resources and agricultural traditions. This region is ideal for investment in agriculture, especially viticulture, olive production and timber.
• Lisbon Region: The heart of business activity in Portugal. Lisbon offers excellent business opportunities in technology, tourism, finance and real estate.
• Alentejo: This is a low-density agricultural region known for its vineyards, olive groves and cork trees. It is ideal for agrarian investments.
• Algarve: A popular tourist region with beautiful beaches and developed infrastructure. Here it is profitable to invest in tourism, hotel business and real estate.
• Azores: This archipelago in the Atlantic Ocean offers unique opportunities for eco-tourism, agriculture and fishing.
• Madeira: Known for its mild climate and beautiful scenery. Ideal for investment in tourism, agriculture (especially winemaking) and handicrafts.