We are an American couple looking to start over by moving to Portugal and launching our own restaurant business. What criteria would we have to meet?
All foreigners can start a business in Portugal. First step is to obtain a Portuguese taxpayer number and open a bank account, followed by company incorporation and / or declaration of activity beginning in the tax authority. Licensing procedures will depend on the business and relocation programs available like the D2 Visa based in the business plan.
In this specific case, you would only have to create eight job positions. In order to accomplish this, the best route would be to incorporate a company in Portugal (which will be necessary since your goal is to create a restaurant business), and hire the workers (either Portuguese or foreigners) in order to fill up the positions. This way, should the hired workers be foreigners, they would also become eligible to apply for a temporary residence permit under the general rules.
American citizens, or other nationalities, can apply for a D2, a visa for entrepreneurs, the ideal for someone who wants do create a business in Portugal, and live here on a permanent basis. This process should start at the Portuguese consulate in the US, which after analyzing the process and the completion of all the requirements, will issue a residence visa, valid for 120 days, and two entries in Portugal. If already in Portugal, the applicant must complete the procedure at the SEF, with an appointment for biometric collection and delivery of the due documentation. The residence titles should be delivered within three to four weeks after the appointment.
Opening a company in Portugal does not automatically give you the right to reside in the country. Basically, to apply for the D2 visa (entrepreneur), you will need to prove that your business/company is viable. In addition, you would also need proof that you are already in the field professionally, and also must put together a business plan as required.
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