Europe Porto Digital: the attractive business connection between Latin America and Portugal

Founded in the year 2000 in the city of Recife, Brazil, Porto Digital has become one of the largest innovation and technology ecosystems in Latin America.

This technology park is home to over 400 companies and government agencies, with 18 thousand professionals and entrepreneurs dedicated to software production, Information and Communication Technologies (ICT) services, creative economy, and smart cities.

With projects that generated over one billion dollars in 2023 alone, Porto Digital has not only focused on economic growth: since its inception, it has restored over 138 thousand square meters of historic buildings in the capital of the Brazilian state of Pernambuco, in a region that previously had little influence on the local economy.

This initiative, which Wired magazine described in 2023 as “the quixotic tech hub that did work,” has one of its most ambitious developments in the Portuguese city of Aveiro: Porto Digital Europa, a bold move promising to attract many investors and skilled labor.

Why Aveiro? There are various reasons for this. For instance, its strategic location in the global context is very convenient for entrepreneurs, who also have access to highly skilled human resources in the IT field.

Furthermore, as we have mentioned in previous blogs, the quality of life in Portugal has always been one of the highlighted factors when choosing it as a work destination or for retirement, along with the cost of living, which is also lower than in other major European cities.

Another aspect to highlight is that the local municipality has the Aveiro Tech City initiative, which aims to create “an economically competitive and environmentally sustainable city (…) more connected and smarter, transforming its territory into a place that uses technology as a means to address the needs of its citizens.” Objectives fully compatible with the ideas driving Porto Digital Europa.

In the current landscape, where Latin America exports technology and highly skilled professionals to the world, the existence of Porto Digital in Portugal is undoubtedly a tremendous opportunity for both independent professionals and technology entrepreneurs in all fields.

Portugal is an attractive destination for remote work; several publications have said so. Additionally, in 2023, a pilot experiment of a 4-day workweek was carried out there, with positive results.

The reality is that technology not only brings people closer and optimizes processes but also eliminates borders. Technology professionals often enjoy greater freedom to work from anywhere in the world. With the aim of attracting this audience, Portugal offers several specific modalities to simplify the process of obtaining permits and residence authorizations in the country.

You can apply for a digital nomad visa, which offers tax benefits and the possibility of obtaining Portuguese nationality after five years of legal residence.

Another possibility, if you are considered a “highly skilled worker,” is the D3 or “HQA” Visa, which you can apply for with a work contract or service agreement with an institution or company operating in Portugal.

You can also apply for an entrepreneur visa, one of the best options if you want to invest in a technology-related company or project. It does not include restrictions on commercial activity, job creation, or capital investment; nor does it set a minimum investment requirement. It simply needs to be reasonable for the type of business you want to conduct.

AIM Global, experts in international mobility, has offices in Lisbon and Santiago. Our team is ready to advise you whether you are looking for a plan B for your life or want to diversify your assets. Or if you want to work remotely from Portugal. Don’t put it off any longer and schedule a meeting now!

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