March 4, 2024

Considering Opening a Company in Portugal


Do you plan to open a company in Portugal as a foreigner? Well, we have awesome news for you. Once you know how to do this,

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Do you plan to open a company in Portugal as a foreigner? Well, we have awesome news for you. Once you know how to do this, it is going to be rather easy! Follow our article to get acquainted with more details about the whole process.

The Vital Steps to Face When Opening a Company in Portugal

The first important thing is this: you need to make sure that you can set up a business in Portugal at all. So, to do this, you should have a residency card, a tax number, and a social security number. These are the basic requirements to meet.

Then, stick to the list of actions to proceed with next:

  • Develop a strong and creative business idea;
  • Decide on the legal structure of your company (Limited Liability Company, Partnerships, or Branch office);
  • Choose how exactly you will act to sign the deeds. You can apply for opening a company online or do this in person.

Let’s look at what it is all about in a more detailed way.

You can stick to the Empresa na Hora which is opening a company on the spot. In case you use such an option, you will have a chance to establish your business in less than just one hour. Can you imagine how cool is that?

To make it possible, you should bring all the necessary documents: an admissibility certificate (check that the name you have selected for your company is not used anywhere else), official identification of your personality, and a company charter.

And, the second option for you is to choose the Portal de Empresa. This is another great opportunity for those who plan to open a company in Portugal.

What Happens After the Company Is Opened?

After you are done with this, you are going to receive a company card. In this document, you will be able to see the company ID number and other valuable info.

Then, it’s time to pay taxes. Social tax and Value added tax are among them.

One more matter that you have to deal with is deciding what type of accounting you will select. It can be a simplified and organized scheme. In the first case, you are going to save money speaking of the operating costs. By the way, this scheme is used by business owners more frequently.

Organized accounting is going to be a must for those who own limited companies and self-employed people with net incomes of more than 200 thousand euros. So, all the accounting work, in this case, has to be performed by the certified accountant, and there is no other way out.

Is It Necessary to Ask for Extra Help?

As long as you are a foreigner, it might be a bit hard to get into the peculiarities of Portuguese law for you. Also, one of the important tasks here is to understand what rights you have and what obstacles can stand in your way because of this. That is why it is going to be a brilliant idea to stick to professional assistance.

Do not be afraid that it might be too pricey. There are some really nice variants and it is real to find those who will be able to help you at an adequate cost. If you make a decision to order such kind of services, you will avoid the potential issues and will be satisfied with the final result.

Wish you good luck with starting your company in Portugal and hope that everything will be awesome! Just believe in yourself and stick to the assistance of the experts!

About Neel Achary

13835 Articles

Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.







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