In this episode we discuss what it’s like starting a business in Portugal with Kate and Ela from Lisbon Bakes. They share how they made Lisbon Bakes come to life and what the process of starting a business in Lisbon was like. We talk about the challenges they had to face when starting a business in Portugal as a foreigner. We talk about the importance of community to grow your business – especially as a newcomer in Lisbon. Also Kate and Ela share how living in Portugal influenced the way they run their business and what’s been the most rewarding part so far of building a business in Portugal. Last but not least they have some tips and advice for anyone wanting to start a business in Portugal.
Enjoy listening and don’t forget to rate the podcast and leave us a review on your favorite podcast platform, like Spotify – it will help more hearts find our little corner of the world.
With love, April Betts & Anna Jirina.
About From Lisbon With Love
Welcome to From Lisbon With Love! A podcast about real stories of love, laughter, and life in Lisbon — from women who have left it all behind. We share real stories about moving to Lisbon, starting over and figuring life out along the way. We talk love, dating, friendships, breakups, healing, growing, all of it. Basically, the stuff we usually talk about over coffee ☕️ or vinho 🍷. If you’re thinking about moving to Lisbon, already here or just love honest conversations with heart: you’re in the right place! Learn more about our story here.
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Starting a business in Portugal as a foreigner
If you’re thinking of starting a business in Portugal as a foreigner, there’s different routes to take (depending on if you’re a EU- or non-EU citizen). General steps involve getting a NIF number (required for all financial transactions), setting up a bank account, choosing a legal structure (common structures are Private Limited Companies (Lda) and Sole Proprietorships) and registering your company online via Empresa Online or Empresa na Hora.
If you’re a non-EU citizen, you’ll most likely need a D2 visa/residence permit and a feasible business plan. However the D2 visa is specifically for entrepreneurs, a solid business plan, proof of financial capacity and relevance to the local economy are required to open a business in Portugal. The costs for registering a company vary from €220 to €360.
Challenges of entrepreneurship in Portugal
As an entrepreneur in Portugal, you might have to face some bureaucratic hurdles – especially if you’re a foreigner. Even with initiatives like “Empresa na Hora”, it’s good to be prepared and be patient. But as we speak about in many of our podcast episodes, all the stories you hear online might not become your reality, as we also have some surprisingly good experiences when it comes to the Portuguese bureaucracy!
It’s a hit and miss and you should definitely not let other’s experiences demotivate you to start a business in Portugal. Also engaging with local advisors and building local connections is a smart move when starting a business in Portugal.
The importance of community when starting a business in Portugal
Community is essential for starting a business in Portugal, as the local culture really prioritizes building trust and personal relationships, rather than just professional qualifications. Especially as a newcomer in Portugal, you’ll rely a lot on community to help your business grow – something we also talk about in this episode. For Lisbon Bakes, setting up their cosy Tea & Cake Club really helped building and expanding their community even more.
Curious to more stories about moving abroad and starting over? In this episode we talk about how moving abroad changed our definition of success.
