Portugal is one of the most entrepreneurially inclined nations in the aftermath of a disaster . Portugal has one of the lowest operating costs in Western Europe .
Portugal has been focusing on technology advancement and is taking the necessary steps to foster a start-up ecosystem.Did you know that almost 2 percent of the 208 unicorn companies headquartered in Europe are based in Portugal?The reason is that the country is rapidly becoming a technology-based incubator.Portugal is determined to be one of Europe's most entrepreneurially inclined nations in the aftermath of a disaster.The Portuguese tax rate could be as low as 7.5 percent for newcomers.Portugal has one of the lowest operating costs in Western Europe, thanks to several advantages for tech start-ups.Lisbon ranks fourth on the global list of the best places to start a new business, according to the London based freelance marketplace-PeoplePerHours Startup City Index.This is well ahead of cities like London and San Francisco. Lisbon's cost of living is at least 50% to 60% lower than in other cities such as London, New York, San Francisco, and Zurich.Portugal is 39th out of 190 economies in the Ease of doing business ranking, according to the World Bank Doing Business 2020 study.It is in the 12th position in the European Union.The country also has a liberal visa policy. Portugal is also well known for its technologically advanced telecommunications infrastructure network.The country has one of the largest treaties networks for international investors in the United States that seek to avoid double taxation.To attract international start-ups, the government has eliminated bureaucratic hurdles and simplified the online registration process.Portugal has provided around 200 million euros in incentives to encourage foreign companies to invest in local firms or relocate to Portugal in order to attract more investment in domestic firms. Portugal has a minimum of 50 percent less skilled IT staff than countries such as Germany or Sweden.Visit our Twitter account for more information.ETGreycellDisclaimer: Meet The Drapers is a Twitter account.Learn more at www.meetthedrapers.com