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- What are the basic requirements for incorporating a company in Portugal?
For incorporating a company we need:
- Reservation of company name
- NIF (Portuguese Tax Identification Number) for shareholder and directors
- Opening of company's Bank Account
- Virtual address on behalf of the company
- Business Activity
- Registration with Portuguese Social Security system
- How do I choose a company name?
You can select a name and we can verify its availability with the Portuguese Companies
Registrar.
- What are the minimum number of directors and shareholders required?
We can incorporate company in Portugal with only one foreign director and shareholder who
can be the same individual.
- What is the minimum Share capital requirement?
Minimum Share capital requirement for 1 member is € 1.
- What are the documents required to incorporate a company in Portugal?
The documents that will be required to incorporate a company in Portugal includes:
- Valid identification for all shareholders and directors like passport etc;
- Proof of Address from the shareholders in English, like utility bill;
- Tax Identification Number (NIF) for all shareholders and directors;
- POA from the shareholders to request the taxpayer numbers signed by the shareholders;
- Article of Association & Memorandum of Association of company.
- Company deed, including name, address, share capital, and business activity.
- What types of companies can I incorporate in Portugal?
Types of Companies that can be incorporated in Portugal:
- Sole Proprietorship (Empresário em Nome Individual)
- Single-Member Limited Liability Company (Sociedade Unipessoal por Quotas - SUQ)
- Private Limited Liability Company (Sociedade por Quotas - LDA)
- Public Limited Company (Sociedade Anónima - SA)
- Branch Office (Sucursal)
Single-Member Limited Liability Company and Private Limited Liability Company
are the preferred option by many foreign investors.
- What are the benefits of incorporating Single-Member Limited Liability Company and Private Limited Liability Company?
- Single-Member Limited Liability Company (Sociedade Unipessoal por Quotas - SUQ):
- Owned by a single person who is also the sole shareholder.
- Limited liability, meaning the owner's liability is limited to their investment in the company.
- Requires a minimum capital of €1.
- Private Limited Liability Company (Sociedade por Quotas - LDA):
- Owned by two or more shareholders.
- Shareholders have limited liability.
- Requires a minimum capital of €1 per shareholder, though it is typically higher in practice.
- Common structure for small to medium-sized businesses.
- Authority for incorporation of company in Portugal?
Directorate-General for Economic Activities (DGAE) is the regulatory authorit
- How long does it take to complete the incorporation process?
The process of incorporation in Portugal takes 2-3 weeks.
- What are the costs associated with incorporating a company in Portugal?
- Portuguese government fees for incorporation
- Portuguese NIF
- Certificate for a specific name
- Tax Representative
- Virtual address on behalf of the company
- Bank Account Opening
- Do I need a local directors or shareholder to start a business in Portugal?
There is no need to include a Portuguese individual as shareholder or director.
Although one Legal representative is required for Liaoning with various departments.
- Do I need to mandatorily have Portugal address for my company?
Yes, you must take address in Portugal through lease or purchase.
- How do I obtain a Tax Identification Number (NIF) for the company?
We can Apply for a NIF through the Portuguese Tax Authority on your behalf.
- Is opening a Bank account required for setting up business?
Yes, Bank Account need to be opened for incorporating a company and you need to deposit
the required share capital in the bank account.
- What are the tax implications for my business in Portugal?
If profit earned is up to € 50,000 Tax rate is 17% of the total profit earned.
If profit earned is more than € 50,000 Tax rate is 21% of the total profit earned.
VAT is also applicable at a standard rate of 23%.
- What ongoing obligations does the company have after incorpration?
- Maintain proper accounting records, file annual financial statements, and comply with Portuguese employment and tax regulations.
- Appointment of an Accountant
- Certified Invoice Tools for raising invoices.
- Are there any additional licenses or permits required?
This depends on the nature of your business. You may need specific licenses or permits
depending on your business activities.
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