The advantages of taking your business to Greece and Portugal

Greece and Portugal have become attractive destinations for entrepreneurs and startups looking to establish themselves in Europe. Both countries offer advantages in terms of taxes, cost of living, and business visa programs. 

However, they have key differences that can influence entrepreneurs' decisions. Below, we analyze the advantages of each and their differences to help you choose the best destination for your business.

Startup ecosystem and growth opportunities

Portugal has positioned itself as an innovation hub for startups , with a 16% growth in its entrepreneurial ecosystem between 2023 and 2024. It currently boasts over 4,000 registered startups , primarily in cities like Lisbon and Porto. Furthermore, there are numerous accelerators, incubators, and funding opportunities , particularly in the technology sector.

Greece, for its part, has seen accelerated development in its startup ecosystem, especially in Athens. Although its growth has not yet reached the level of Portugal, the country has experienced a greater presence of tech startups and investment opportunities in recent years.

Key comparison:

• Portugal: Greater development in the startup ecosystem, with ample funding opportunities.
• Greece: Growing, with an emerging market for technology entrepreneurs.

Taxes and tax benefits

The tax system is a key factor for entrepreneurs when choosing a country to establish their business.

• Portugal It has a corporate tax rate of 21 %with reductions for small and medium-sized enterprises. It also offers the tax regime of Non-Usual Resident (NHR), which allows expatriates to benefit from tax reductions for up to 10 years.
• Greece applies a corporate tax rate of 22 %, with a maximum personal rate of 44 %There are specific tax benefits for tech startups, but in general, Portugal offers more incentives for expatriates.

Key comparison:

• PortugalMore tax benefits for foreign entrepreneurs thanks to the NHR regime.
• GreeceSlightly higher tax burden, although with incentives for technology startups.

Visa requirements for entrepreneurs

Both Portugal and Greece offer visa options for foreign entrepreneurs, but there are important differences:

• Portugal offers the Visa Startup for foreign entrepreneurs, as well as the Visa D7 and options for digital nomads.
• Greece is Golden Visa for those who invest at least €250,000 in real estateHowever, it lacks a specific visa for entrepreneurs. It does, however, offer a visa for digital nomads.

Key comparison:

• PortugalMore visa options specifically for startups and entrepreneurs.
• GreeceGolden Visa for real estate investors, but fewer options for foreign entrepreneurs.

Cost of living and business operations

The cost of living is an important aspect for any entrepreneur wishing to settle in a new country.

• En PortugalLiving in Lisbon can cost between €1,500 and €2,500 per month, while in cities like Porto or Braga the cost is lower.
• En GreeceThe cost of living in Athens varies between €1,200 and €2,000, which makes it more accessible compared to Portugal.

Furthermore, the business registration process is faster in Portugal. Through the Empresa na Hora program , a company can be registered in just one day . In Greece, the process is more bureaucratic and can take longer.

Key comparison:

• PortugalHigher cost of living, but with a faster and simpler business registration process.
• GreeceLower cost of living, but with a more complex bureaucratic process for setting up businesses.

Corporate culture and quality of life

Business culture and quality of life also play a role in entrepreneurs' decisions:

• Portugal is known for his work-life balancewith a more relaxed business culture.
• Greece values ​​the building relationships and networkingalthough bureaucracy can slow down some administrative processes.

Key comparison:

• Portugal: Better work-life balance.
• Greece: Corporate culture based on networking and personal relationships.

Which country is best for your startup?

The choice between Portugal and Greece will depend on the needs and objectives of each entrepreneur:

• If you're looking for a more developed startup ecosystem, tax incentives, and a fast registration processPortugal is the best option.
• If you prefer a more affordable cost of living and you are willing to face more complex administrative processesGreece could be an interesting alternative.

AIM Global: Consulting to take your business to Europe

Both Portugal and Greece offer unique opportunities for startups and entrepreneurs. However, choosing the right country and navigating the legal procedures can be complex. 

AIM Global offers specialized advice for entrepreneurs who wish to develop their businesses in these countries, helping with planning, obtaining visas and investment strategies.

Contact us for personalized advice and to take your business to the next level in Europe.