Focused on attracting non-resident talent and foreign companies, the e-Residency platform aims to make Portugal an international destination where professional and business activities can be carried out without a physical presence.
What is it?
e-Residency is a platform used to assign a digital identity and residency in Portugal through the recognition and confirmation of the identity and authenticity of a non-resident citizen or company, granting access to online Portuguese public services, consequently assigning a NIF – Tax Identification Number and a NISS – Social Security Identification Number. These numbers are necessary for creating/registering a company and opening a bank account, both required for the exercise of professional activities and business.
- Make Portugal the digital gateway for foreign companies to do business inside and outside the European Union (EU)
- Increase the services (legal, financial, and accounting) provided by Portuguese companies to foreign entities
- Create new sources of tax revenue for Portugal and increase the Gross Domestic Product (GDP)
- Digital nomads and self-employed entrepreneurs
- Any foreign company, regardless of size or sector of activity, wishing to do business within or outside the EU via Portugal
- Investors looking to invest in Portugal and the EU
- Portuguese service providers (eg financial institutions, law firms, accounting firms…)
Reliable medium for business
Trust is a central pillar in doing business and in commercial transactions.
Ensuring high standards of identity and authentication of individuals and organizations gains added relevance in this context, as a way to mitigate fraud risks and ensure the fight against money laundering (AML – Anti Money Laundering) and the principles of Know Your Customer (KYC – Know Your Customer).
Supported by advanced and secure technologies, in connection with the Mobile Digital Key (CMD) and in alignment with eIDAS and other international directives, e-Residency provides this fundamental security.
Benefits and impact
The creation of the e-Residency platform generates benefits in terms of identification, authentication, and business:
A quicker, simpler process with flexible application.
Allows a remote e-Residency request.
Less information required; fewer costs.
More autonomous process
An electronic identity (e-identity) that allows you to use more services independently, without the need for legal representatives.
Provides a fully digital and dematerialized form of authentication.
Various forms of authentication (eg email, mobile phone, contactless, eIDAS).
More online services
Access to more services,
most useful for commercial transaction purposes.
More attractive tax policy.
More attractive environment to conduct business.
The following impacts will result from it:
- Boost in commercial transactions via Portugal
- Job creation
- Tax payments (by "foreign individuals and companies")
- New business development for Portuguese companies
- Global promotion of Portugal as a digital nation and of startups
The e-Residency platform is an ongoing project involving the following entities: