For the past years, Portugal and the IT industry are having quite a fruitful relationship. Thanks to the many investments, the economy is thriving, and the world has now an ideal option for outsourcing. If we keep up this pace, Portugal may turn into the heart of the world IT community. Let’s check some of the things that make nearshoring Portugal a great possibility for startups and tech companies.
The country is already an example of the European startup ecosystem. Homegrown startups such as Farfetch, Feedzai, Talkdesk and Outsystems have international operations supported by delivery centers in Portugal. Like Cloudflare or Revolut, international startups and scale-ups also count on Portuguese talent to nurture their growth. Established industry giants, like Siemens and Google, opened centres in the country, joining other multinational companies like BNP Paribas, Naxitis, Cisco or Volkswagen. Investors are also taking note of the Portuguese tech hub, constantly financing national and international projects even during the pandemic.
If you decide to nearshore software development, you will find highly skilled, experienced, and dedicated professionals ready to help your business grow in Portugal. The country has 6 tech universities in the World Top 500 and ranks #5 on expenditure on education. It is often said that we, Portuguese, have a unique talent for learning new languages. Our very high proficiency in English is proof of that. It is pretty easy to find great professionals with strong language skills, making it easier to work in international IT teams without obstacles.
An ideal location
Our location is ideal for business, allowing us to act as a door to the European markets. The 2 600 km coastline can be enjoyed almost every day, with around 300 sunny days a year. That and the 8 hours of daily sunshine keep us in the Top 3 countries with the highest quality of life in the world. That, allied to our great food and rich cultural heritage, helped us getting awarded Best Destination in Europe for the 4th consecutive year. Portugal also shares London’s time zone, one of the most critical global markets, facilitating teamwork for multi-site teams. It’s the closest European country to the US, with direct connections to American tech hubs like San Francisco, New York or Boston. This superb location makes the nearshore in Portugal the most convenient option.
For centuries, the sea was our home, gifted us with many discoveries and cultural experiences, which shaped our flexible and easy character as a nation. Our hospitality, tolerance and adaptation skills are still a plus nowadays. Another thing that the years have not changed is our peaceful DNA. In 2021, Portugal ranks 4th in the Global Peace Index. It stands out once again as a highly secure country, which can also be a good predictor of several macroeconomic indicators.
Besides being a sunny country with so many skilled people and overall political and social stability, Portugal can also be an excellent value for money option for setting up a nearshore software development team.
Nearshoring Portugal: Benefits for the companies
The benefits of nearshore in Portugal are endless. There is hardly another country that would be a better match for nearshore outsourcing. And that is why, for the past few years, many worldwide companies were looking for an office in Lisbon. Let us see some of the reasons that may have led to that.
Big investors from Europe choose Portugal hoping to reduce expenses and receive a product with equally excellent quality as if the production center were at their homeland. The cost of living is quite affordable. Portugal ranks 50th place in the Cost-of-Living Index 2021 chart, favorably comparing Ireland, France, UK, Spain, or Slovenia.
Portugal has a transparent law system, with little bureaucracy, and where most permits and necessary papers can be ordered online. So, if you are running away from loads of documentation, our country could be a good option.
Nearshoring in recruitment is supposed to be a smart move to lower the company’s expenses and the low taxes services of nearshoring Portugal is willing to offer. This destination becomes even more appealing. For the ones starting out their businesses in the country, there are no taxes during the first year, along with many other government incentives. If you are deciding to move a part of your business to Portuguese lands for these reasons, know that there is a possibility to do an online business registration. For a new company, it would take about three days.
Portugal meets all the requirements to be considered one of the most competitive nearshore outsourcing destinations with great talent, premium location, and a favorable social, political, and regulatory framework.
If you decide to give it a shot, Prime Nearshore Is the correct choice. Our 14 years of experience have been of great help developing our Nearshore Delivery Centre and granting many international clients from different countries and industries and exciting projects in Europe and beyond. The next one could be yours, and Prime Nearshore can be your second home if you like.