Portugal is a fruitful environment for foreign investors, entrepreneurs, and professionals. The country’s government has been attracting top talent for the past few years for creating a world’s startup factory with conformable business nourishing conditions. Consequently, Lisbon is rapidly becoming a European tech hub, where innovative companies can achieve new highs.
One of the notable local incentives is the NHR (non-habitual resident) program. The program eases the entry barriers to Portugal and installs favourable conditions for tech companies. The initiative cuts downtime and money spent on dealing with regulators, a massive advantage for a fast-paced enterprise.
Portugal is a specifically unique environment for crypto companies. The government recognizes the value of cryptocurrencies and crypto, thus making the creation of new projects effortless. While crypto is not recognized as a legal tender in Portugal, the adoption rate is at an all-time high. The banks favour crypto, a behaviour rarely observed around the world. Thus, crypto holders and investors can feel at ease and invest without caution.
However, there were two separate proposals from minority political parties to tax crypto assets during ongoing budget negotiations recently. The proposals were coming from left-wing parties Bloco de Esquerda and Livre. Remarkable, that the Parlament has voted down both of them on May 25 and this clearly indicates the current agenda in Portugal.
Besides, Lisbon has a vibrant crypto scene. There are dozens of big events like Lisbon Blockchain Week, Web3 Europe, Global Investor Conferences, etc. The well-organized open fairs like these enable companies to demonstrate their products to investors and developers. Furthermore, there are tons of options to network and learn. Proximity to the venues makes our work much more manageable.
Equilibrium is planning to open a new headquarters in Lisbon and take advantage of the many benefits for developers and entrepreneurs that offers Portugal (like a moderate taxation regime and a welcoming startup environment). The rules for doing business are straightforward and existing crypto regulation remains relaxed.