Holding a strategic and unique location on the west coast of Europe, Portugal presents a market potential far larger than initially meets the eye. One of the oldest countries in Europe, Portugal is a gateway to an impressive global market of about 250 million people in Portuguese speaking countries like Brazil, Angola, and Mozambique, among others. In addition to these Lusophone countries, Portugal’s primary focus are the 10.4 million people on its mainland.

Portugal offers numerous advantages and opportunities for foreign direct investment. Over the years, the Portuguese government has introduced highly supportive initiatives to simplify procedures and remove the red tape in establishing and running venture capital and private equity companies, promoting a one-stop shop in Portugal. Fewer restrictions mean that foreign investments can occur in a wide range of areas under the private sector, and foreign entrepreneurs can enjoy complete ownership of a firm without the need for a local partner.

The government has also announced a series of investment initiatives and incentives, such as residence programs including the golden visa for non-EU residents, green visas, and start-up visas, as well as tax incentives, subsidies for film production, and government co-investment schemes for start-ups. In 2020, the government embarked on co-investment initiatives with private investors in startups and scaleups with a cost of €200 million in funding.

There is no greater testimony to Portugal’s suitability for investment than the fact that it is home to six unicorn companies – privately held start-ups valued at over one billion dollars. HR tech platform, Remote, is the latest company to join this exclusive list. The impressive speed with which the company achieved unicorn status, with less than three years’ presence in Portugal, has attracted the world’s attention. The country’s predictable political environment creates a favorable foundation for investment and is one of the factors that paves the way for notable business performances for these companies.

Portugal’s mesmerizing landscape, its welcoming people, and strong government support to foreign investors, cumulatively position it as a country with an ambitious future and infinite possibilities.