- country
- Portugal
- eligibility
- Foreign entrepreneurs residing outside the European Schengen Area, over 18 years old, with no debt to Social Security or the Tax Authority and a clean criminal record. Must intend to develop business activities producing innovative goods/services and demonstrate potential to reach turnover over EUR 325,000 per year and/or asset value over EUR 325,000 within five years post-incubation. Applicant must secure approval/quotation from a certified business incubator and sign a service contract with that incubator before applying to IAPMEI. Requires proof of EUR 5,146.80 per person held in a bank account (per Startup Portugal). Administered by IAPMEI (Agency for Competitiveness and Innovation).
- processing notes
- Applications submitted directly to IAPMEI via its online platform (not to consular sections). IAPMEI evaluates projects on degree of innovation, business model scalability, market potential, management team capacity, potential for creating qualified employment, and applicant relevance to the venture. Each project may have between 1 and 5 members (per IAPMEI/embassy guidance).