After being announced in the Web Summit 2018, Tech Visa came into force on the 1st of January 2019 with the view of simplifying the process of hiring highly qualified foreign individuals applying for jobs in Portuguese companies in the technological and innovative field. Companies are now able to apply for a certificate with the IAPMEI, requesting the grant of a residence visa or permit to the highly qualified foreigners the company intends to employ.
Like Startup Visa, the Tech Visa is one of the national measures introduced to boost entrepreneurship in Portugal by increasing the level of experts in the technological and innovative field.
In order for companies to benefit from this new regulation, they must apply to the Tech Visa Program through IAPMEI, I.P website and fulfill the criterions defined under Portaria n.º 328/2018, from the 19th of December.
IAPMEI shall be responsible for the evaluation of all applications and shall liaison with the Immigration and Borders Service (SEF) and the Consular Services to grant the certificates.
The review of the application will be based on the following three main principles:
· Market Potential;
· Degree of Technological Innovation;
· Guidance to external markets.
Since January 2nd companies seeking this certification can submit their application through IPAMEI’s website. According to Portaria n.º 328/2018, upon the submission of the application, IAPMEI has 20 working days to review it, unless further documents are to be requested by IAPMEI.
Despite the hard threshold imposed by IAPMEI’s criterion, we can only hope this government’s effort puts Portugal on the roadmap of global markets.