Portuguese Economy
The Portuguese economy has undergone numerous positive changes and transformations in recent years, thanks to the Portuguese government’s commitment to facilitating the establishment of companies and businesses in the country. These procedures are among the fastest in the world and can be completed within an hour through the “Empresa na Hora” website.
Through this website, individuals can easily and efficiently establish sole proprietorships, limited liability companies, and public limited companies, provided that all the necessary documents are available and ready.
Conditions for Establishing a Company in Portugal
Some of the essential conditions for establishing a company in Portugal include:
- Opening a bank account in Portugal for depositing the company’s capital. For example, the capital for limited liability companies is set at €5,000.
- Choosing the company’s name and type, and submitting funding contracts. At this stage, company owners choose a trade name, verify its availability through the National Registry of Companies, or select a name from a pre-approved list available at the registration office.
- Selecting approved models and founding contracts from the General Directorate of Registration and Notary Publics, also available at the registration office.
- Receiving the incorporation certificate, the company’s identity card, the social security number, and the registration certificate from “Empresa na Hora.”
- Company owners must declare and submit the start date of operations along with supporting documents immediately or within 15 days of incorporation.
- Depositing the capital into the company’s bank account in Portugal within 5 working days from the date of company establishment.
- Registering employees with the government and Social Security Services within 24 hours of the employment contract being signed between them and the company, following the completion of the company’s establishment process in Portugal.
If you are interested in residency through establishing a business project in the UK, Australia, Canada, or Hungary, please contact us to book a free consultation by clicking on the link here.
