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How You Can Incorporate Company in Portugal with Minimal Time and Cost

To incorporate company in Portugal used to be a pipe dream as it may require a ton of time and resources. However, these days are long and gone, as the times have changed thanks to the nation’s progressive legal authorities. Also, service providers like 3E Accounting have been speeding up the procedures. We are glad to tell you, that from now on, your company incorporation in Portugal is just a call away.

To be honest, the company incorporation process in the country is generally challenging, even with assistance. And at the same time, it might throw investors in a lot of bafflement.

Thus, to address that, from now on, 3E Accounting will be working with accounting and business experts from Portugal. This wil provide investors a trusted and the most affordable company incorporation services in the country.

Why You Should Open a Business in Portugal?

A booming economy, Portugal has been attracting many investors recently, and there are legitimate reasons for that. First would be the country’s own policy of promoting foreign investments. Also, tax reform, numerous incentives, comfortable accommodation, and growing economy have contributed to making Portugal one of the most sought out regions for international investors. And in the recent time, another reason to open a business in Portugal is the Brexit. After Britain’s decision of moving out from the EU, investors originally interested in the UK have been moving to Portugal. This ensures that none of the commercial benefits of the country being a part of EU is lost. As we are talking about EU and open borders, your business in Portugal will be accessible to about 512.6 million people. This means a lot of opportunities.

 

Types of Companies in Portugal

Before starting a company, make sure you understand the nature of your business, which depends on the size of the business and ownership.

• Sole Proprietorship (Sole Trader)
  
• Single Member Limited Company (Single Person Limited Company)
  
• Personal Limited Liability Company (Personal Limited Liability Company)
  
• private limited company (private limited company)
  
• Public Limited Company (A Public Limited Company)
  
• partnership (partner)
  
• Limited Liability Partnership (LLP)
  

You will ensure that your business idea is viable and can demonstrate financial and technical proof to realize your business plan. If you are staying in Portugal and registering a company in Portugal, make sure you have your passport and official paperwork.

 

How to Set Up a Company

After preparing the necessary documents, you need to choose a name for your company. You need to present them to the National Registry of Collective Entities. Your name must be different from the ones already existing and it must describe your business. Alternatively, you can also choose from the pre-approved names from the National Registry of Collective Entities itself.

Now the next step is to get the certificate of registration itself. The process is quite simple; first, you prepare all the necessary documentation. This includes your business application where you introduce your business and show how it is viable. You might also need to present how your business helps the Portuguese economy and creates employment opportunities in the country. You will also need the articles of association and the certificate of name approval from the National Registry of Collective Entities. Schedule a local notary appointment to this, which, of course, we will do for you.

After that, you will soon receive your corporate tax number and social security number. But remember, before starting your business, you should also register your employee information at any Business Registry Office or the Centros de Formalidades das Empresas. A labor inspector will then visit your office upon application. You will also need to register accident insurance for your employees.

 

Therefore, you must seek professional assistance step by step from experts who are familiar with the industry. Contact us now, 3E Accounting will make every effort to make your company run smoothly.