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How can you verify a company in Portugal
Portugal is a popular location for setting-up a new business or expanding an existing business, offering an inviting and go-ahead business culture. However, it is important to be aware of all the steps you need to take to authenticate your company, and what documents are required.
Find out what steps are required when opening a company in Portugal, and how Giambrone & Partners can help.
Click on the links below to jump to that section:
Find out the situation related to visas before you set up your business.
More about the benefits of registering your company in Portugal.
The different types of business framework you can choose from in Portugal and the advantages and disadvantages between them.
The documents you will need to set up your company.
The steps for registering your business in Portugal.
How our Portuguese multilingual lawyers can assist.
We answer common queries on verifying a company in Portugal.
Do you need to apply for a visa before setting up a business in Portugal?
Business owners that are resident outside the EU will need to apply for a visa before starting a business in Portugal. It is recommended before embarking on setting up a business in Portugal that you obtain legal guidance on all the aspects of business set-up to fully understand the process and avoid any potential problems.
EU citizens do not need a visa and only have to sign up for taxes and acquire a registration certificate. If you are unsure on this process – contact our multilingual lawyers for support.
What are the advantages of registering a company in Portugal?
Portugal is one of the top 25 business-friendly nations, with the advantage of a desirable tax structure for companies. It also offers one of the most affordable places to live in Western Europe.
Additionally, according to the Global Peace Index, Portugal is the sixth safest country in the world, making it an attractive option for both doing business and residency.
The different types of commercial entities you can register in Portugal
If you’re opening a business as an individual, there are three options you can choose from:
- Self-employed
- Sole trader with limited liability
- An individual limited liability company.
Other types of entity are :
- Limited company and cooperative
- A public limited companies
- A limited liability company
- A general partnership.
What is required to operate a public limited company?
There must be at least five directors to operate as a public limited company, as well as €50,000 in capital, with the liability of each person limited to the quantity of shares they own.
If you need assistance on setting up a company in Portugal, contact our expert lawyers today.
Which documents are required to set-up a business in Portugal?
- Portuguese work visa and residence permit (if you are a non-EU citizen)
- Tax and social security number
- You will need a name for your business and a Validation Certificate.
Here, we explain the different steps in detail:
Registering your business
Naming your company
When choosing your business name, you can either take a name from a list of pre-approved business names, or you can register a new name with a denomination approval certificate.
Providing the name you choose for your company is free to use, you can register it via a Validation Certificate issued by the National Registry of Companies. The Validation Certificate is known as “Certificado de Admissibilidade”. This certificate costs €75. You can contact Giambrone & Partners for more guidance on obtaining this certificate.
A foreign business wishing to establish a branch or subsidiary in Portugal will have to register the branch office name with the Portuguese Institute of Registries and Notary (IRN) and also register with the Commercial Registry Office. The parent company’s incorporation documents will be required, as well as documents corroborating the board of directors’ confirmation endorsing the opening of a branch. Legal assistance from a Portuguese lawyer will be required for this process.
Registering your name through an Empresa na Hora (on the Spot firm)
The Portuguese Ministry of Justice devised a “Simplex Programme” to reduce the administrative and legislative procedures enabling the registration of a business through the Empresa na Hora (on the Spot firm) making it possible to create a company in one day.
Choose your business structure or type
You will then need to choose the business structure or type. Legal structures for businesses in Portugal are regulated by the Portuguese Companies Code. As stated above, your business type depends on whether you are setting up a business as an individual, or whether your company has multiple owners. You can find out more about the types of business structures in Portugal here.
Read our full guide to setting up a business in Portugal here.
How much capital is required to start a Portuguese company?
Public companies (S.A.) require a minimum share capital of €50,000. The accounting and auditing requirements for these companies are quite strict.
Portuguese Private Limited Companies (Ldas) has reduced the share capital requirement to only €1.
How can Giambrone & Partners help?
Our well-regarded lawyers are committed to the provision of excellence and can advise and assist on a wide range of issues connected to setting up a business in Portugal. Our lawyers have multi-lingual and multi-jurisdictional capacity.
Contact our Portuguese lawyers today.
Frequently asked questions
What is the Golden Visa programme?
The golden visa in Portugal enables residency by an investment scheme, and applicants must invest a significant amount into the Portuguese economy to obtain a Golden Visa. A minimum investment of €500,000 in an Impacto Portugal Fund FCR is required to qualify for the Golden Visa. The Golden Visa is designed to encourage investment from non-EU/EFTA nationals and boost the domestic economy.
If you are coming to Portugal as a business owner in your home country and need to build out a European operation, you could qualify for the Golden Visa programme.