Porto is so rich in history, very attractive to investments, and is considered to be the largest Startup Hub in Portugal. That’s amazing!
Many of you have doubts about investing in the capital, Lisbon, or Porto, and that’s why we’re here to tell you a little bit about this beautiful city that welcomed us with open arms. Come with us:
Great geographic location
Located in the North of Portugal, between the sea and the Douro River, Porto is the perfect combination for those who like urban life, but also want to run to the beach or the mountains whenever they can.
But the most important is that Porto has a very accessible airport, and if you want to say hello to Spain, in approximately a 5h30 drive, you can be in Madrid, the capital of Spain, not to mention the rail network that connects the city to several other cities in Portugal.
Quality of life
If there’s one thing Porto offers, it’s quality of life!
Did you know that in 2019 it was chosen as the best European city for quality of life, according to a survey published by Numbeo, the largest collaborative database on cities and countries in the world?
Among the features that stand out to maintain this ranking, we can mention safety, mild temperatures, with an average of 220 days of sun during the year, access to culture and history, good and low-cost healthcare, excellent transport network – that will only get better, good gastronomy, leisure, parks, friendly population and so much more!
In other words, when you think about investing somewhere, knowing that the place offers a quality of life can be a big differentiator, don’t you think?
Low initial cost to start investing
When you start an investment it is necessary to consider several factors and one of them (probably the most important, right?) is the initial cost you will have, especially if your idea is to open a business.
And if compared to other cities in Europe, including Lisbon, the initial expenses to start a new business in Porto can be lower, mainly, taking into account the criteria of cost of living, rent and office space, geographical location, monthly salary and the possibility of international expansion – since Porto is very close to Spain and it is possible to expand your business to many other places, as it is very well connected through its airport, roads and rail network.
Government incentives for new businesses
Since Portugal is a country that is always planning to invest in new businesses, there are several incentives that are provided by the government, especially for businesses that are aligned with strategic areas such as technology and innovation, and you can find all about them here: Invest Porto.
Main entrepreneurship hub in Portugal
Porto is the main entrepreneurship hub in Portugal and concentrates 19% of Portuguese startups, and 47% of the North region, being the leader in the national ranking of entrepreneurship ecosystems.
Compared to other European cities, Porto also stands out for the number of Startups, with an average per capita 20% higher than the European average.
In other words, investing in Porto is a guarantee that your business idea will be in an environment that invites entrepreneurship.
Ease on the bureaucratic processes
One of Portugal’s goals for the future is to make the country a digital reference in Europe and they’re doing it very well so far. Long before the pandemic, Portugal already adopted many digital processes for bureaucratic matters, such as tax matters, opening a company, updating personal documents, etc.
Just to give you an example, there is the Empresa na Hora System, which opens your business in less than 1 hour. Another example of digital efficiency is the website of Finanças de Portugal (the Portuguese Federal Revenue), which has many digitized processes, which facilitate the day-to-day accounting of the entrepreneur.
All we can say is that bureaucratic processes cannot be considered an obstacle or a problem in Portugal, especially in Porto, as most of them occur digitally and very efficiently.
Are you ready and convinced to invest in Porto? We certainly encourage it. And remember that we are here for you every step of the way.
Send us a message and we’ll be more than happy to help!