How to start a company in Portugal

Thanks to its strategic geographical position, Portugal, advantageous taxation, and growing GDP can be an attractive destination for entrepreneurs interested in starting a company abroad. In fact, in Portugal, you can open a company of any type quickly and easily.

Types

In Portugal, there are different types of companies that can be established, including:

-Individual company.

-Limited Liability Company.

-Individual limited liability company.

Suppose you are planning to open a business using the structure of the company together with other people. In that case, there are two main types of company, joint-stock companies ("Sociedades Anónimas" - SA) and joint-stock companies ("Sociedades por Quotas" - LDA).

The regulatory and legal structure for a Portuguese company is contained in the Code of Commercial Companies "Código das Sociedades Comerciais" – (CSC).

Requirements for opening a company in Portugal

To start a business in Portugal, you need to apply for a visa for immigrant entrepreneurs (called D2) and submit a detailed business plan to a Portuguese Consulate in your home country.

There is the possibility of obtaining a start-up visa. To do so, you must request a residence permit and then open a Portuguese account in your chosen bank.

Once done, you will need to present an identity card and a tax code to Empresa Na Hora, to register the company.

The process for opening the company is similar to the Italian one and requires the following steps:

1. The deed of incorporation of the company;
2. Payment of the membership fee;
3. The certificate of eligibility;
4. The NIF; which consists of the Portuguese tax identification number;
5. Business registration;
6. Registration with social security;
7. The declaration of the start of business;
8. Ll NIB; i.e. the bank number.

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