Do you have a disruptive idea or a long-awaited investment project to set in motion? Are you looking forward to a country that recognizes the importance of innovation and regional development? If so, this is the time to talk about investment incentives!
Companies are currently facing hard times due to the war in Europe and recovering from the pandemic may be taking longer than expected. But Portugal still has the ability to attract investment, create jobs and push competitors to do better, as proven by the growing number of Portugal-based unicorns or the Non-Habitual Resident tax regime, a tax benefit addressed to retirees and highly-skilled workers.
On the other hand, there are many incentives and opportunities to help your business grow or get started. Let’s look at some of them?
Portugal 2030
With the end of the Portugal 2020 program, the new decade is bringing to Portugal a new framework for strategic investment. Portugal 2030 will be implemented until 2027 and will guide public policies and initiatives to support economic, social, and territorial cohesion.
Portugal 2030 comprises four Thematic Agendas or, in other words, challenges for the next decade. Two of them though stand out for presenting ambitious opportunities for companies and new businesses:
- Innovation, Digitalization, and skills as drivers of development;
- Climate transition and resources sustainability;
Negotiations for the Operational Programs are currently ongoing. A draft has been made available, though, setting priorities for business innovation, qualification of human resources, increasing of production capacity, and a more digital and sustainable industry.
Would you like to know more information on Portugal 2030 funding opportunities? We have a team of experts and key partners who will help you in every step of the process!
PIN status recognition
The Potential National Interest status is a way to streamline licensing procedures and make bureaucracy lighter on highly important investments.
We’re talking about projects deemed essential for the national economy, encouraging job creation and economic development. With the help of the PIN status, such investments may benefit from rapid contact with public authorities and fewer barriers.
The Recovery and Resilience Plan
€16.6 billion is the amount Portugal is expected to receive from the European Commission until 2026. The Recovery and Resilience Plan (RRP or PRR, as known in Portugal) is part of the EC strategy to help countries recover from the COVID-19 crisis, though it has a much more ambitious goal: to trigger structural transformation across all economic and social sector.
Digital and Climate Transition are the main areas where key initiatives are expected, either to update business models, implement new and green technologies, or support a more sustainable industry.
Horizon Europe
This is the EU’s main funding program, with a budget of €95.5 billion for research and innovation focused on making an impact on the lives of European citizens. It is also an incentive for international partnerships since many of its calls involve multiple entities from two or more European countries.
Horizon Europe sets many EU standards when it comes to economic growth or adapting to climate change, tackling global challenges, technological development, and industrial competitiveness. All in all, this is one of the most important programs for European entrepreneurs, since it strengthens Member States’ capacity to make the most of their national research and innovation potential.
If you are looking for more information about investment opportunities or financial incentives, Easely Portugal can provide all the support needed for you to achieve your goals. Tell us about your plans and we’ll be your gateway to live and invest in Portugal!