What are the 10 best cities to start a business in Portugal

Article By Viv Europe - Official Legal and Relocation Partner to KipperTree

18 07 2023

It’s been a while since all of Portugal has represented great business opportunities. Investors from all over the world are looking to this small country in Southern Europe, which has long been underestimated. However, some cities stand out as being a centre of modernity, startups, and prospect.

Of course, each company is a different case, and it’s impossible to say which are the definitive best cities to start a business in Portugal. But through statistics and patterns, there are a few that indicate greater success in some regions.

According to what is shown in the Portugal City Brand Ranking 2022, held annually by Bloom Consulting, the best cities to start a business in Portugal are

1. Lisbon

The largest city in Portugal, Lisbon, truly has it all. It’s the capital and the country’s business, tourist, and cultural centre. It is located on the central coast of Portugal and is bathed by the Tagus River. Lisbon has seen great advances in recent years despite being one of the oldest cities in Europe.

2. Porto

Porto is known for being an asset to the Portuguese industry and culture. While the capital, Lisbon, is a globalized metropolis, Porto retains much of what is traditionally considered Portuguese. The city, which is the capital of the northern region, is colder and rainier, with a hard-working population.

3. Cascais

One of the most expensive cities to live in, but most prestigious in Portugal, Cascais is just 30 km from the centre of Lisbon. What was once a small fishing village, Cascais, has evolved into the Portuguese Riviera today.

4. Braga

Braga is one of the most important cities in northern Portugal. It has suddenly been filled with expatriates in recent years and promises to be a favourable environment for companies of all sizes and areas.

5. Coimbra

Located in central Portugal, Coimbra is one of the most important Portuguese cities. The city is one of the cradles of Portuguese culture and home to one of the oldest universities in Portugal and Europe. The residents of Coimbra aim for a bright future with booming businesses.

6. Vila Nova de Gaia

The younger sister of the great city of Porto, Vila Nova de Gaia, is growing to become much more than just that. The city is on the south bank of the Douro river, opposite Porto, but shares many qualities with the northern capital.

7. Sintra

Sintra is one of the most beautiful, famous, and therefore highly touristic destinations in all of Portugal. The small village and its surroundings, full of medieval attractions and even the homes of international celebrities, prove to be a great place to start a business. 

If you’re considering starting a business, you’d enjoy reading the article 3 Types Of Investments In Portugal You Should Consider Making.

8. Funchal 

The imposing capital city of the island and archipelago of Madeira, Funchal is one of the best cities to start a business in Portugal. In addition to companies on Portuguese islands benefiting from lower taxes, they are fortunate to have a unique European environment.

9. Setúbal

In recent years, there’s been a rapid rise in the acquisition of old buildings in Setúbal for urban regeneration. Foreign investment is one reason; the other driving force is the city’s favourable living conditions and climate, making it a very attractive place to settle in.

10. Aveiro

Aveiro probably does not identify as a mega business centre for many people in Portugal, but the city has incredible potential. It’s a medium-sized city that’s known as the “Venice of Portugal” thanks to its beautiful scenery.

To find out about the costs and statistics of each city read the full article here