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Starting a Business in 24 hours!

Foreign investors who want to register a limited liability company in Portugal, known as LDA, the most popular business structure in Portugal, need to provide a minimum share capital of EUR 1,00  in a bank account opened in Portugal. Such type of business can be opened by at least one shareholder in Portugal, and its mandatory of having at least one manager in the firm. We remind that a limited liability company in Portugal is created in respect to the Company Act in Portugal, and the Commercial Code. We are at your disposal with support when creating the documents of the firm and registering them with the entitled authorities.

Incorporation procedure in Portugal

It is mandatory that the name of the newly formed company in Portugal is checked at the National Registry of Collective Entities (Registro Nacional de Pessoas Colectivas, RNPC).  If the name is available, it can be reserved for a period of 48 hours if a fee is paid. Also, a pre-approved name can be elected from the RNPC database.
In order to obtain a certificate of registration, the founders of an entity must submit an application followed by the articles of association and the certificate of the name approval, but no later than 15 days from the incorporation. When receiving the above, the Portuguese authority will deliver the corporate tax number, the company’s social security number and the declaration of commencement of business activities. The entity’s employees must be registered at the Centros de Formalidades das Empresas or at the Business Registry Offices 24 hours before they start their activity or 10 days at the latest after the declaration of starting the business.
TheLabor Inspectorate must also be notified regarding its existence by providing the newly formed business name and tax number, a copy of the published announcement regarding the company incorporation, the company’s activities and the headquarter address. The registration for the employees’ accident compensation insurance is performed online at a private insurer and cannot cover the individual which doesn’t receive a salary.
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Frequently Asked Questions

How much is the minimum Share Capital?

You need to provide a minimum of EUR 1,00 share capital (One euro) and transfer it to your Portuguese business bank account.

Can I open a company remotely?

Yes. We can open your company and apply for the person Tax number – NIF, while you are abroad. There is no need to come to Portugal.

How long does it take to start a company?

Usually,  it takes no more than 24 hours to have the company and the VAT approved.

Can I open a Portuguese private and business account?

Yes, you must!  There are no restrictions for foreigners to open a private and business account in Portugal.  However, it’s mandatory to have both accounts opened in order to declare your income and taxes in Portugal.

Can I apply for residence permit if own a company?

Yes. You are eligible to apply for the self-employed residence permit as long as you live in Portugal, pay social security, you earn a minimum salary,  have no debts and no criminal records. We can assist you in every step of the way.

Do I need an accountant?

Yes. In Portugal its mandatory to appoint a certified accountant to help you manage your business. PRISCO can refer professional accountants for you.

HOW WE HELP

Our Lawyers can help you decide on the right type of legal entity, and provide basic tax and legal support without any extra charge, to start your Portuguese business.

PRISCO is a well established corporate service provider that can assist you with your whole process in every step of the way, as we have informed and assisted over 5.000 entrepreneurs and incorporated more than 2000 legal entities since 2009.

100% FREE CONSULTATION

Before starting the process of forming a company in Portugal it is important to be familiar with some of the basic concepts around rules and practices related to the company and the registration process.

The best piece of advice that we can give you, is to get in touch with by WhatsApp, Skype, Facebook or a regular phone call to our Incorporation Consultants to discuss your situation and requirements.

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INCORPORATION STEPS

Steps in opening a company in Portugal

Public and private limited liability companies can be easily set up in Portugal, following these steps:
  1. Verify the business name and make a reservation with the Portuguese Trade Register.
  2. Appoint a legal representative for your company in Portugal.
  3. Draft the Articles of Association with information about the owners, business activities, etc.
  4. Open a bank account for depositing the minimum share capital of EUR 1,00.
  5. Apply for licenses and permits in accordance with the company’s activities.
  6. Register for tax purposes and social contributions in Portugal.

REQUIREMENTS

  1. Complete our Order Form and send us all the company information
  2. Receive and approve the Formation Deed/company constitution
  3. Visit the notary, or courier your legalized documents​

Documentation required: 

All documents must be in English (or translated into English by a certified translator)
To be submitted to us along with proof of payment:
  • Proof of address;
  • Passport valid for more than 6 months beyond the planned departure date;
  • Criminal records certificate, issued less than three months from the time of submission (from the country of origin or where the applicant lives or has lived for more than a year), apostile or authenticated by the respective Ministry of Foreign Affairs.
  • Filled out Data Protection Form.

VIRTUAL OFFICE

  • Basic Virtual Office for company registration costs €49.00 + VAT per month, including mailing forwarding.