PORTUGAL PORTUGAL START-UP VISA PROGRAM

Empowered will suggest a business idea, typically based on the client’s background, in one of the following sectors:

• Biotechnology and pharmacology;
• Commerce and consumer products;
• Communication and media;
• Electronics;
• Energy;
• Industrial products;
• Information technology (IT);
• Medical / health.

Bragança, Portugal (a little to the Northeast of Porto, which is the closest international airport).

The Incubation Fee is EUR 175,000, of which EUR 25,000 will be used as share’s capitalization in the Portuguese business venture and pay for the business’s required services.

From one venture to another, the required services will be different, but certain basic services will be taken care of by Empowered Startups for all using the capitalization, including making the connection and obtaining authorizations with the government body and R&D facility, preparing the necessary business presentation documents together with the client, taking care of accounting, incorporation, corporate bank account opening, etc.

The participation of Empowered will be minimal and no third party will be involved in the shareholding, so it is to be expected that approximately 95% will be owned by the client and 5% by Empowered.

The Incubation has a 3-year duration, starting from the approval of the client’s Residence Permit application. In case of refusal, of course, the Incubation will not start, and the incubation fees will be refunded to the client.

The residence permit will be valid for 2 years, then renewed for a period of 3 years until the 5-year mark for the PR. Empowered’s incubation covers 3 years and as such they will help with the renewals of the permit