If you had good results in Masters, you can apply for PhD all over Europe.
Portugal economy is not that big, there are some jobs in tech sector but most Portuguese also leave for other countries. The jobs are not as well paying as other European countries. After a Masters from top university and joining in the best of multinationals, the salary won't be more than 1000 €.
Right now, unless you have a confirmed job contract, you cannot extend your visa. May be in future, job seeker visa could be possible.
There is limited national funding for PhD from FCT Portugal. There could be more opportunities from European Projects like Marie Skłodowska-Curie and H2020 in Portugal and other countries.
There are also very limited options of industrial internships during studies, except for IT sector.
If you plan to study in Portugal, try to get internships or make professional network in central and northern Europe to improve your job prospects, think long term.
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