Relocating your business to Portugal - or starting a new activity in the country - can be a very profitable decision. The Portuguese economy is booming and it shows prosperous signs of growth and innovation. Find out which are the most important business areas in this country, and get inspired on how to start a business here.
of capacity utilization. This indicates how effectively Portugal is making use of its available productive capacity
Since 2017, Portugal has gained 8.2 points in overall economic freedom on Heritage's Economic Freedom Index
GDP per capita is 37% lower than OECD best performers
The Human Capital Index, which ranges from 0 to 1, calculates the contributions of health and education to worker productivity
of human resources in Portugal are engaged in Science & Technology
is the average number of hours worked per worker per year
Portugal scored 62 / 100 pts on the 2021 Corruption Perceptions Index reported by Transparency International, placing it within the top 15 European countries
4G LTE coverage. Portugal ranks #34 worlwide
Business Areas in Portugal
Below we explain the business areas in Portugal; but how do you set up a company in Portugal? Setting up a company in Portugal is dependent on 3 main things: choosing a legal name, drafting the association and incorporation articles for the company, and registering it with the Commercial Registry Office. You can go for a traditional on-the-spot procedure to set up your company or choose to register it online. You will need a Tax Identification Number (NIF) - which you can get if you're an EU, Norway, Lichtenstein, or Iceland resident. If you are not a citizen of one of these countries, you must appoint a Portuguese tax resident as your tax representative to handle matters with the tax authorities.
The Portuguese startup ecosystem has been standing out in the European tech scene over the last few years, especially as many unicorns started being launched here. Startups such as Farfetch, Outsystems or Feedzai achieved global success and started attracting more and more talent to this region.
Furthermore, hosting the Web Summit in Lisbon since 2016 has also facilitated the gathering of talented individuals with a global mindset, fostering the development of new and innovative ideas in Portugal.
Startups quickly became an important part of Portugal's business and economic identity, and this appears to be the case for the foreseeable future as the country continues focusing on innovation and technological advancements.