The government announced the intention to create this type of visa in the State Budget of 2020. Thus, we predict that the program will be launched in 2020 but this was not officially confirmed yet.
When can investors expect the new E-residency program to be launched?
I learned that Portugal is going to put forward an E-residency program that allows foreigners to manage a business in Portugal. When can investors expect the detailed instructions to be announced? When could this new program be launched?
The E-residency program is foreseen in the 2020 State Budget in Portugal, within the scope of the National Strategy for Entrepreneurship. In this sense, the second phase of the National Strategy for Entrepreneurship - Startup Portugal +, which focuses on internationalization, financing and the consolidation of the Portuguese ecosystem, will be pursued. For 2020, the reinforcement of Startup Visa, Tech Visa, Startup Voucher and Road 2 Web Summit are highlighted. The promotion of measures to invest in internationalization, access to financing and an increase in the scale of Portuguese startups is also stressed. For this program, an electronic card should be assigned to the entrepreneur who wishes to establish the company in Portugal, giving him a virtual residency permit that allows him to manage his accounting and use Portuguese public services in its online version. It appears, however, that this digital residence will not be equivalent to any residence visa or residence permit granted to foreign citizens wishing to reside legally in Portugal, and is not, for example, a valid document for traveling within the European Union. There is still no timetable for the implementation of the E-residency program, so we cannot say when this program will be launched and the details to take advantage of it.