The Republic of Portugal (the official name of Portugal) is a small country with a warm climate, picturesque nature and a rich history. This is the westernmost country in Europe, on the territory of which one of the extreme points of continent Eurasia, Cabo da Roca, is located. Because of its proximity to the Strait of Gibraltar and the Atlantic Ocean, Portugal’s geographical location has always been considered strategically important.
The main state language is Portuguese, with Lisbon being the capital of the country. Due to the peculiarities of the geographical location of Portugal, its largest cities – Lisbon and Porto – are located on the coast. Both of them are on the list of global cities and represent key elements of world trade and economy. Portugal became a member of the European Union in 1986 and since then it has developed into one of the greatest financial centers in Europe.
Geographical Reasons to Invest in Technological Business in Portugal
One of the biggest advantages of Portugal as a country for business is its favorable geographical location. Because of the particularities of Portugal’s position, the territory of this country has never been unpopulated and was inhabited even before our era. Lusitanians, Romans, Visigoths, and Arabs resided within it at various times. This has led to the appearance of numerous borrowings in the Portuguese language. Since Portugal was (and still is) located on the coast, the state has evolved into an important seaport at the crossing of trading routes between the continents. Even the name of the country comes from the Roman name of the settlement of Portus Cale, which is translated from Latin as a ‘warm port.’
Since Lisbon is the capital and one of the most populated (over 2 million citizens) city of Portugal, people rightfully consider it an ideal Portuguese city for the investment in the technological business. Just like the whole country, Lisbon has a beneficial geographical situation. It is not only the largest port but transport and economic hub of Portugal as well.
The climate of Portugal is rather mild and it has its own favorable consequences. There is no boiling hot summers and harsh winters. In regard to Lisbon, the ¾ of the year consist of sunny days with constantly moderate temperature. It is a pleasant place to be, both for personal and for business reasons.
Social Reasons to Invest in Technological Business in Portugal
When planning to open your own company, more so in such a money-making industry as technology business you have to maintain customer orientation. This also applies to the investing in technological business the main office and important departments of which are located in a country with a high standard of living. If a client lives a full, comfortable life, it turns him into a grateful buyer.
Portugal is regarded as a socially stable state, while its capital Lisbon experiences a reassuringly low crime rate giving it the title of the safest capital city in Europe.
- Life quality
In addition to the welcoming weather and well safety rating, Portugal has many beautiful areas, options for spending leisure time and doing sports activities. It was ranked 19th in the list of the countries with the highest living standards. Plus, there is no political unrest to obstruct you from investing in technological business in Portugal.
- Workforce Resources
Portugal’s capital has a multicultural population including 40% of bilingual and 20% of trilingual people. Lots of Portuguese people enjoy learning foreign languages! Moreover, the education industry has undergone impressive improvements, and now there are 25% of skillful young specialists with degrees in engineering, technology, and sciences. This exceeds the average result throughout Europe. Some of the educational institutions of Portugal received coverage in the famous ‘Financial Times.’
When it comes to quality of country’s infrastructure, Portugal is called number 14 in the world’s top 50 for general infrastructure condition. The country has extremely enhanced its metros, airports, and railways. Besides that, various research and business centers were established, specifically in the spheres of engineering and IT. Portugal provides convenient land, marine, and aerial communications. Due to the state’s leading telecommunications system and phone network, to invest in a technological business in Portugal will be an effective decision.
Financial Reasons to Invest in Technological Business in Portugal
It is pretty much clear that business conduct requires dealing with financial issues. Portugal might be a preferable place for doing technological business because of the following aspects:
- Real estate
Real estate is considered one of the major drivers for economic success in Portugal. Most of the buildings in numerous Portuguese cities were renovated over the recent years, particularly Lisbon with its ancient historic downtown area. It’s worth mentioning that 37% of foreign investors have purchased both residential and business constructions throughout the country.
- Innovation and Technology
In the latest years, technology has turned into one of the main investment fields in Portugal, alongside with energy, automobile, and communications industries. Substantial changes have been carried out in the healthcare industry and the electronics manufacturing as well. Interestingly, more than half of the electricity in Portuguese cities is derived from renewable sources. It was Portugal’s metropolis Lisbon where the authorities installed the first electric vehicle servicing stations.
- Business opportunities
Since the market of Portugal represents a testing platform for various modern tech innovations, an enormous amount of global companies applies and analyzes their emerging products on the territory of this country. Also, Portugal offers a comfortable business environment for every entrepreneur willing to find the clients in Europe and to expand the consumer market greatly. As a helpful bonus, in 2010 Portugal was named number 7th in the list of countries of the Organization for Economic Co-operation with the smallest level of expenses and taxes. One more good reason to become the investor in technological business in Portugal, right?
The First Step of Investing in Technological Business in Portugal
Portugal is an amazing country with no less amazing opportunities to either set up your own business or to make investments into such productive industry as the technologies. If you don’t know where to start, remember – the official language of this country is Portuguese, and there’s a high probability that your business partners will be native speakers. In order to be able to delve into all the details and not to miss any fortunate business possibilities, you should acquire some knowledge of the Portuguese language. Don’t worry, it is quite easy, you can Learn Portuguese Online with experienced certified tutors at preply.com. You can choose a favorable individual program and we will consider all your wishes.
Photo by Khachik Simonian on Unsplash