Establishing a startup will become easier in Portugal

Coinciding with the celebration of the EU Digital Day (19th March), 24 European countries – including Portugal – have signed the declaration on the EU Startup Nations Standard of Excellence.

Aiming to promote more startup-friendly policies among the national governments involved, this document establishes a set of best practices, described as vital to strengthening both Europe’s and the world’s economic landscape in the aftermath of the COVID-19 pandemic.

Startup and scaleup companies have been acknowledged by the European Commission as having an essential role in the development of innovative solutions and services that address societal and industry needs, while also creating employment opportunities.

 

What will change in Portugal and in the EU?

The recently signed EU Startup Nations Standard of Excellence seeks to establish a set of best practices, which should be implemented at a national level, in order to attract talent and provide more support for entrepreneurs.

Among them, we can expect:

  • The ability to establish a startup in a single day for a fee of up to 100 euros;
  • Visa applications by non-EU entrepreneurs should be processed more quickly;
  • The possibility of startups issuing stock options with non-voting rights;
  • The “Think Small First” ethic, in order to prevent unnecessary administrative burden;
  • More innovation procurement;
  • Easier access to funding initiatives;
  • Increased awareness of social inclusion and diversity;
  • “Digital First” ethic: interactions between startups and authorities should be digital.

At Easely Portugal, we have a team of experts that can provide you with all the support and advice you need when investing in Portugal, namely by taking advantage of key policies like the Startup Visa programme.

Feel free to reach us anytime. We’ll be your best gateway to live and invest in Portugal!