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Posted by portugalpress on July 10, 2018

Announced on Monday was a €300 million boost to keep encouraging tech start-ups to Portugal.

Startup Portugal + is focused on coinvestment programmes “between the State and foreign investors”, and hopes to see the sector mushroom.

In the last two years, the “national entrepreneurial ecosystem” has won vital “external visibility”, said economy minister Manuel Caldeira Cabral, the net result being that Portugal is now on the investment map of large multinationals.

The plan is to build on the momentum, while at the same time supporting the start-ups that are already here.

Start-up Portugal + is also designed to “attract and retain foreigners”.

“We’re going to launch a visa for highly qualified workers from non-Schengen countries, so that businesses that need to hire specialised people can do so much more quickly”, Cabral explained.

With a Tech Visa these foreigners will be able to skip an interview at the Portuguese embassy or consulate in their home country, and get a head start on obtaining residency.

Cabral also outlined the creation of special bilingual “service points” for foreign entrepreneurs to “facilitate the creation of businesses on national territory”.

natasha.donn@algarveresident.com

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