portugal

Company FormationPortugal

Portugal is a European country that has more than 10 million people and a GDP of more than $236 billion. The country’s capital city is Lisbon. As the westernmost state in Europe, the country borders the Atlantic Ocean. It also borders Spain to the North. Portugal is a developed country that joined the European Union in 1986. The country’s economy is growing at about 1.5% every year, which is slightly below the EU’s average. Portugal is ranked at position 34 on the World Bank’s ease of doing business index.

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Why Registera Company in Portugal?

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EU member state

Portugal is a member of the European Union. This is important because of the large market it presents.

Growing service sector

Portugal is known for its growing services sector that opens opportunities to many investors.

Quality infrastructure

Portugal has advanced infrastructure such as roads, rail, ports, and airports.

Incentives

The government has added a number of incentives that are meant to attract foreign businesses.

Young workforce

Portugal has many young people, which helps reduce the cost of labor.

Steps for Registeringa Company in Portugal

The process of registering a company in Portugal is relatively easy and takes about 15 days. You should follow the following procedure:

Here, you should check whether you can legally set up a business in Portugal. Here, you will need your Portuguese residency card, tax number, and social security number.

Come up with a unique business name and the legal structure that you want.

You can set up the business online (empresa online) or on the spot (empresa de hora). The former takes 1 to 2 days and you need an electronic certificate. The second method takes some time. However, sole proprietors can register the business within a hour.

This will identify your official Portuguese company name.

Apply for a company card and a collective card from IRN.

Open a bank account for your company.

Visit the local tax office and declare the commencement of activity of your business. 

Register your business at a commercial registry office.

Register as an employer at the local social security office.

FAQson Registering a Company in Portugal

There are three main types of businesses you can register in Portugal. These are sole traders, single-member limited liability company, and individual limited liability company.

A private limited company (sociedade por Quotas) is a company that has a minimum of two partners and a minimum capital investment of EUR 5,000. Founders are responsible for their debt.

A public limited company (sociedade anomina) requires at least five shareholders and a minimum investment of EUR 50,000.

It takes from one hour (for sole traders) to a few months (for complex businesses).

The corporate tax rate in Portugal is 21%. There is a municipal tax of between 0% and 1.5%. Other taxes are VAT of 23%, state surtax of 3% for companies with annual turnover of more than EUR 1.5 million

No. You can use a proxy who is recognized by the company registration office.

At GFSC Global, we help hundreds of companies register in Portugal. Our team of experts focuses on making it easy for companies to do business in the country.

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